Date Received: 2015-12-26
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I am writing about a HELOC loan I established with XXXX in XX/XX/XXXX, which was later transferred to Specialized Loan Services ( SLS ). The loan had a maximum draw of $ XXXX with interest only payment for the 10-year draw period, which was to be followed by a 5-year principle/interest payment period. My trouble with SLS seemed to start in XX/XX/XXXX, the year I filed Chapter XXXX bankruptcy. At that time my HELOC balance was about {$51000.00}, I was current with all HELOC payments, and was still in the interest-only payment schedule of that loan. I believe SLS is engaged in unfair and deceptive loan practices with respect to fees and would like your help in bringing transparency this situation. Specifically, I have been hit with numerous fees on this loan that have not been adequately explained. I have contacted SLS on numerous occasions by phone and in writing ( attch XXXX ) to get clarification. Their response ( attchs XXXX and XXXX ) did not explain the basis of these charges. I have also attached a detailed account summary ( attchs XXXX and XXXX ). I have been charged the following fees in XX/XX/XXXX/XX/XX/XXXX but do not know what they are for or if they are consistent with industry practices Date Amount Code* XXXX/XXXX/XXXX {$300.00} XXXX XXXX/XXXX/XXXX {$350.00} XXXX XXXX/XXXX/XXXX {$110.00} XXXX XXXX/XXXX/XXXX {$65.00} XXXX XXXX/XXXX/XXXX {$270.00} XXXX Code listing is at attch XXXX Additionally, I have been charged {$330.00} monthly since XX/XX/XXXX. My attempts to find out if these are legitimate charges have been unsuccessful and even rebuffed by SLS. I would appreciate it if you could help me in this matter. Additionally, I would like the name and contact information for a knowledgeable person at SLS who can address and future questions.
Company Response: Company chooses not to provide a public response
State: FL
Zip: 33569
Submitted Via: Web
Date Sent: 2015-12-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-12-19
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: In XXXX 2015, we received notice that servicing of our loan had been transferred to Specialized Loan Servicing. At that point, we had already made our XXXX mortgage payment to the prior servicer, eTrade, via automatic withdrawal with that servicer. Since we did not have an automatic withdrawal arrangement set up with SLS, we sent our XXXX payment via paper check. SLS received the check on XXXX/XXXX/15, however, SLS proceeded to make an unauthorized automatic withdrawal from our savings account a few days later for the same payment. We sent SLS a request to set up an automatic payment before we realized that SLS was already making automatic withdrawals. The confirmation letter we received was unclear, so I called SLS to inquire. Through conversation with the rep, I figured out that SLS had made an extra, unauthorized withdrawal from our account. I demanded SLS return the XXXX XXXX payment. Two weeks later, we received a refund of the duplicate XXXX withdrawal from SLS. In XXXX, SLS made XXXX auto withdrawals from our savings account, XXXX on XXXX, the other on XXXX. I called XXXX to complain & demand the return of the XXXX payment SLS took from our account. I also requested cancellation of all automatic payment arrangements so that I could initiate my own payments going forward. SLS refunded the duplicate XXXX withdrawal. In XXXX, I initiated an e-payment from our checking account to SLS on XXXX. Despite having received this payment & despite having been notified in Apr that we were canceling any further auto payments to SLS, SLS withdrew a duplicate payment from our savings account on XXXX. I called to demand our money back & contest SLS 's actions. After a long call & much resistance by SLS, we received a refund of the unauthorized duplicate XXXX payment. Concerned that SLS would continue to initiate withdrawals from our savings account, I contacted our bank & they agreed to block such transactions by SLS. In XXXX, I made an e-payment to SLS from our checking account. I learned from our bank that SLS had tried, unsuccessfully, to withdraw funds from our savings account without our authorization. On XXXX, we initiated an e-payment to SLS from our checking account for our XXXX payment. Even after receiving that payment, SLS apparently evaded the block on our savings account & withdrew a XXXX payment for XXXX on XXXX. Our bank reversed the transaction immediately. I called XXXX again, & was completely stonewalled. They essentially told me it was our problem, not theirs. They did not offer to make sure SLS stopped making the unauthorized withdrawals. In XXXX, we made an e-payment from our checking account, but SLS proceeded to make another withdrawal from our savings account. Our bank quickly reversed the transaction, but we then opted to close our savings account in an attempt to keep SLS from making unauthorized withdrawals. In XXXX we made an e-payment to SLS from our checking account ; SLS received the funds & credited them to the loan account. A week later, however, SLS returned the funds without notifying us ( our bank notified us ). When I called to find out what was going on, I was told we were now required to make payments by certified check or money order. I got a couple of different explanations for this requirement. When I could n't get SLS to relent, I took time during my workday, bought a money order & sent it by mail to SLS on XXXX to ensure SLS would n't treat the XXXX payment as late. On XXXX/XXXX/15, SLS sent us notice that we will be required to make our payments via certified or guaranteed check for the next 6 months. At that point I contacted a law firm, who sent a formal request for information. The SLS response was unhelpful & incomplete. XXXX has continued each month to try to take money from our now closed savings acct. & then imposes a new 6 month restriction on the type of payment they will accept from us.
Company Response: Company chooses not to provide a public response
State: CA
Zip: 94605
Submitted Via: Web
Date Sent: 2015-12-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-12-19
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: To Whom It May Concern- I received a letter from SLS indicating that they are the new servicer for my mortgage, however I did not receive a letter from XXXX XXXX Loans, the current servicer. I have been going back and forth with XXXX in getting a loan modification. They have been giving us the run around and now this. How can I get some assistance. XXXX did not even have the original note and now this new servicer does not have the note. Thank you. XXXX and XXXX XXXX
Company Response: Company chooses not to provide a public response
State: FL
Zip: 33309
Submitted Via: Web
Date Sent: 2015-12-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-12-16
Issue: Application, originator, mortgage broker
Subissue:
Consumer Complaint: We wanted to refinance our mortgage and were well into the process when the broker requested a payoff amount. When we got the statement with the payoff amount from the loan servicing company, it included a request to pay roughly {$5100.00} for property taxes. This was odd, because XXXX XXXX XXXX held our property taxes in escrow every month and had over {$7100.00} in an escrow account. Why did they need an additional {$5100.00}? We called and asked and they said the {$5100.00} was to pay property taxes if the loan closed after the taxes were due. We were thoroughly confused because - of course - they had {$7100.00} in an escrow account they could use to pay the {$5100.00} in property taxes. So, I was stuck. The lender would not refi the mortgage without a proper payoff amount and XXXX XXXX XXXX would not change the payoff amount. I eventually called an attorney and he got the loan servicer to update the payoff amount. We thought we were in good shape, but then the broker told me the new lender was dragging their feet and that we would need to finance an additional {$5100.00} to cover the property taxes. It did n't make any sense, but we were in a very bad mortgage and we desperately needed to lower the payment so we just XXXX XXXX the {$5100.00} only increased our payment by {$12.00} a month, and we assumed we would be getting the escrow amount of {$7100.00} back, so we just went with the new loan. Last week, we received an escrow distribution of {$1200.00}. They kept roughly {$6000.00} and we financed an additional {$5100.00}. I do n't know who cheated us out of our money but it 's clear to me that we were taken advantage of.
Company Response: Company chooses not to provide a public response
State: CA
Zip: 94549
Submitted Via: Web
Date Sent: 2015-12-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-12-16
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have a loan with Specialized Loan Servicing for nearly 10 years. The loan payment increased as a result of the GOING TO TERM from Interest Only. The XXXX payment was made via AUTO BILL pay for XXXX versus XXXX. The XXXX payment was received before due date and once we realized that it was less the the minimum I contact SLS and made a payment for the balance prior to end of GRACE Period. SLS is taking XXXX of the payment for maintenance and not my full payment.
Company Response: Company chooses not to provide a public response
State: NJ
Zip: 078XX
Submitted Via: Web
Date Sent: 2015-12-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-12-15
Issue: Settlement process and costs
Subissue:
Consumer Complaint: This is a follow up to CFPB Case number : XXXX. I have recently the house in that case at XXXX XXXX XXXX, XXXX, XXXX XXXX. I overpaid the lien holders, XXXX XXXX/SLS, by approximately {$300000.00} and they ignored my written inquiries during the closing process to settle the matter. I only received {$25000.00} at the time of closing and am expected to pay estimated taxes of between {$160000.00} to {$200000.00} to the State of XXXX next year after consulting my accountant. The original loan amount was {$520000.00}, and they walked off with XXXX. I expect to declare chapter XXXX as a result of their usury, predatory lending and blatant fraud. I should have walked away from the property and let it be sold at sheriff sale, then I would not be facing bankruptcy and excessive taxes for monies XXXX and SLS took from me. If it were to be sold at sheriff sale, they would have received less than the $ XXXX, instead, they walked off with, after taxes and insurances, more than $ XXXX of predatory interest and excessive fees.
Company Response: Company chooses not to provide a public response
State: NJ
Zip: 080XX
Submitted Via: Web
Date Sent: 2015-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-12-15
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Im a military Veteran on XXXX XXXX. My wife who is back home has been dealing with a mortgage company called SLS. They took it on themeselves to Remod our mortgage and said our payments ar now XXXX from XXXX. We have spoken to them and all we get is a run around. They have placed a deliquincy on our credit and stopped us from doing a Refi as the other banks see this fraud deliquincy on our credit.
Company Response: Company chooses not to provide a public response
State: MA
Zip: 023XX
Submitted Via: Web
Date Sent: 2015-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-12-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I requested pursuant to our CFPB Regulation Z, 12 CFR 1026.39, Mortgage transfer disclosures information on my loan.The mortgage servicer Specialized Loan Servicing is not providing the name of the new investor for the loan. I also request the date the mortgage and note was transferred or placed into the Trust XXXX as Trustee Relating to the XXXX XXXX XXXX XXXX Mortgage Backed Certificates, XXXX XXXX pursuant to CFR 1024.38 ( b ) ( i ) ( ii ) ( iii ) ( iv ) ( v ), Specialized Loan Servicing is not providing this requested information.
Company Response: Company chooses not to provide a public response
State: NY
Zip: 10306
Submitted Via: Web
Date Sent: 2015-12-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-12-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I had a 2nd mortgage, interest only loan, for 10 years with SLS, paid on time every payment. They recently instructed me that the terms of my loan are that I now start paying it off. I applied for modification but was denied. All the while making the payments payments on time with the statements received. Never a late payment. They sent me a new monthly statement for XXXX with the new monthly payment which I paid on time ( well documented bank transfer and even on their web site under my account info shows paid on time. But the XXXX statement shows a late fee being charged. When called they stated they could not change anything although the representative stated she saw that the payment was made. I have never received my new loan documents or a payment schedule from them and really do not know the terms of my continuing loan now.
Company Response: Company chooses not to provide a public response
State: AZ
Zip: 85209
Submitted Via: Web
Date Sent: 2015-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-12-11
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I had a mortgage with XXXX and when they collapsed it was passed on to other lenders without my knowledge and XXXX XXXX XXXX wound up with it and it took several years before i found out where it was going to and a loan servicing company called Specialized Loan Servicing started sending me notices and then it was sold to XXXX XXXX and XXXX XXXX and I had to hire several different law firms for a Modification which XXXX is now the bankrupt law firm XXXX XXXX out of XXXX New York. They had told me that indeed I was the victim of Robo signing and for years I filled out monthly paperwork for SLS whom I found out was working for XXXX and XXXX and they forced me into bankruptcy and my home and my truck were the only debts I had and I am still in the house and there is a serious problem as the house sits on XXXX pieces of property XXXX of which XXXX county and I have a stake in together ... It gets even more twisted as I am still trying to save my house and I am still in it, I need to talk to someone asap .Thank You
Company Response: Company chooses not to provide a public response
State: MD
Zip: 212XX
Submitted Via: Web
Date Sent: 2015-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes