Date Received: 2023-05-08
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX, I was transferred from XXXX XXXX to Specialized Loan Servicing. Since the change, I have had a constant issue with Specialized Loan Servicing. I didn't even receive a " welcome letter '' until XX/XX/XXXX, where they demanded I owed {$11000.00}. I filed a complaint against them and magically the amount was reduced to {$4700.00}. The company also added a {$20.00} fee thats just titled " Fee Billed '' on XX/XX/XXXX. When I called on XX/XX/XXXX, I was told this was because my home was assessed, yet they don't have a report listed nor was I contacted about any assessment that would be performed. I also applied for the IL Homeownership Assistance Program where I was approved. On XX/XX/XXXX, the program wire transferred {$5700.00} to Specialized Loan Servicing to bring this account current. The practice SLS performs are predatorily and they should NOT be in business. They are known to take over loans that have potential to foreclose if the property has equity and they can make a quick dollar. This company is worse than XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60640
Submitted Via: Web
Date Sent: 2023-05-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Specialized Loan Servicing XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, CO XXXX Since XX/XX/XXXX Ive been trying to cancel my escrow account with Secialized Loan Servicing, LLC ( SLS ). Id rather pay my taxes and insurance directly and invest the extra money for a small return during the year. Nowhere in my contract does it state I must have an escrow account. Ive talked with these people, who are totally incompetent, as you will see below, for hours on end and below are some of the reasons theyve given me as to why I cant cancel my escrow. The most viable reason being it was a requirement at the time of the loan. However, there is nothing in my contract that indicates this. Ive asked if I could just send them the total amount for my annual escrow which would lower my monthly mortgage payment, $ XXXX vs. $ XXXX. Their response was I couldnt do that. On XX/XX/XXXX, I contacted XXXX XXXX who holds my mortgage loan and they are in contact with Specialized Loan Servicing to find out why I cant cancel my escrow account. They cant get any answers either. When you call Specialized Loan Servicing, you can never speak with a supervisor youre told a supervisor will call you back. If you miss the supervisors call they dont leave their name just the regular number so the entire process starts from the beginning. The last person I spoke with informed me they sent a letter telling me I cant cancel my escrow, said she '' d have a supervisor call and hung up on me. Following is a list of reasons they gave me, in order, on the different calls I made to them. You cant cancel your escrow because you live in a manufactured home. You have an FHA loan ( I do not ) You have a XXXX XXXX loan and their guidelines say you must have escrow. ( I do not ) Your loan is secured by Bank XXXX New York XXXX ( it is not ) Escrow Account was a requirement of the loan. ( Nothing in my contract states this ) You have a {$400.00} negative balance in your escrow account ( due to a mess up with my insurance. Told them I would pay it immediately. They said I couldn't because I had to wait for the escrow analysis. I also asked if I could just send in the total dollar amount for my escrow for the year and they said NO During the past month and a half I was doing research to find out who held my mortgage. After calling XXXX XXXX XXXX XXXX XXXXXXXX, XXXX XXXX and XXXX XXXX XXXX XXXX secures my mortgage and have no requirements that I must have an escrow account. ( Case # XXXX ). XXXX at XXXX XXXX is working on this but she can not get an answer. SLS just sends them a copy of XXXX XXXX regulations that don't state I must have an escrow account. During this time Ive contacted a real estate attorney and hes never heard of not being able to close my escrow. Being a retired XXXX, cancelling my escrow will help me financially. It would keep my mortgage payment at {$430.00} instead of {$670.00}. The additional monies could be be invested or used for other things. They CAN NOT give me a valid reason why I can't cancel my escrow account. Makes me wonder what they are doing with my money,
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 370XX
Submitted Via: Web
Date Sent: 2023-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My home loan was with XXXX Bank. In XX/XX/XXXX they sold it to Specialized Loan Servicing. I did not need to have and escrow account as I paid more than 20 % down. I have always paid my property taxes and house insurance. XXXX XXXX I switched from one insurance carrier to another. Proof was sent to XXXX XXXX. The first thing Specialized Loan Servicing did was open an escrow account and insinuate I had no insurance on the property and placed me into a substandard expensive insurance company. I wrote to them in XXXX and XXXX. They ignored them. I called in XXXX XXXX and was told to again send them proof of insurance, which I did. Effective XX/XX/XXXX I changed insurance companies and they started taking the monthly premiums on auto pay. They sent the company notice, not a bill. In XXXX XXXX I started getting letters advising I was behind on the payments. I have consistently sent them the loan amount plus extra to be applied to the principle. I've written to them and called them numerous times over the past XXXX months to no avail. Now they are saying I haven't paid a house payment since XXXX XXXX. They attempted to raise my payment from {$260.00} to {$750.00}. I have no idea how they came up with that amount. I have XXXX my property taxes every year which cost around {$1000.00}. I called my house insurance carrier to find out about the premiums. They informed me that Specialized had opened a debit card in my name and paid the insurance premium for the year. The company had not sent them a bill. They thought it was my personal debit card and reimbursed it the premium I had paid. Specialized never told me any of this. Any overages I paid to the principle are in suspense and they have been holding every payment I have made and not crediting my account. I will end up paying more in interest. I am attempting to pay the loan off in 10 years rather than 20 which upsets them. Now I have received a letter stating they will foreclose in 33 days if I don't pay them {$4100.00} which is more than the house payment and insurance combined. I have been paying an additional {$160.00} to reimburse them for the house insurance they paid. That is what would have been taken out by the insurance company. I can not refinance because they have reported to the credit bureaus that I have not made a house payment in 7 months. They also have someone taking pictures of the home. They are saying the house is unoccupied. No one at this loan company will honestly tell you anything. I want it stopped.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 38242
Submitted Via: Web
Date Sent: 2023-05-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-04
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I received an intent to foreclose from Specialized Loans stating I owe {$46000.00} dollars on a second mortgage originated on XX/XX/XXXX. I modified both loans on XX/XX/XXXX with XXXX XXXX and never with Specialized Loans, and I am current on my mortgage payments since, and I am not delinquent with my Mortgage servicer. I responded with a qualified written request for information on mortgage assignment accounting and an original note. They responded by sending me a payoff quote for {$79000.00}, and that was it. During the qualified written request, they sent a man to my home to tape white letters to my door, which stated to call your mortgage company. This company has not complied with the FDCPA rules and is taking a very aggressive stance toward forcing payment by threatening foreclosure.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 18301
Submitted Via: Web
Date Sent: 2023-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-03
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Problem has been going on for almost two years. We pay our homeowners insurance, flood insurance and local directly and in full to our insurance providers and the local government taxing authority. The loan servicing company incorrectly has billed us via an unauthorized escrow account for these payments that have been made directly, without any need of involvement with the loan servicing company. To make matters worse, the loan servicing company has incorrectly assessed our loan late fees, penalties and interest on this unwarranted escrow account. We have spoken with the company 25 times, written letters to this effect, sent via fax, email and US Mail, and to date have not been provided any specific detail as to when or why the escrow account was even initiated. Recently, the loan servicing department just sent us a notice of installing forced place flood insurance, as we have had continuous flood insurance, the policycy has been sent to the loan company several times. Failure to communicate requested information and continuosly mishandling our account is the reason for this complaint. Incorrect amount slandering my credit niow exists for over {$58000.00}. Absurd. We have NEVER even been late with any mortgage principal or interest payment. Never!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33067
Submitted Via: Web
Date Sent: 2023-05-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-03
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Specialized Loan Servicing LLC and XXXXXXXX XXXX have both wronged me. I bought my home with XXXX XXXX on XX/XX/XXXX, with the agent XXXX XXXX. As he was explaining the payments to us, he informed us that since the house was appraised at XXXX, we would only need to pay PMI for a short time. This would bring our monthly payments down to a very comfortable rate. This was a selling point. The home had a lot of work to be done because it sustained a great deal of damage during hurricane XXXX in XXXX before we bought it, and XXXX went on to say if we made some improvements, we could have it taken off even sooner. I do have documents from XXXX XXXX stating the conditions to remove PMI which backs this up. I will attach copies of everything I have. After completing several substantial improvements, I called back and spoke with a lady at XXXX for quite a long time. Together, she and I made a list of all the improvements with estimated costs and so agreed that this should be more than enough to have the PMI removed. She stated that we needed to have someone come and appraise the property for {$75.00} and the PMI would then be removed. I knew I needed a few weeks to get the {$75.00}, so we agreed that I would call back to schedule. When I called back, I was informed that my loan was sold to Specialized Loan Servicing ( SLS ). I was very concerned that this would interfere with the process that we had been going through with the PMI removal. They told me not to worry, because nothing changes during a loan transfer. They said they would forward my list and we would be able to pick up right where we left off. After the loan was established with SLS, I called them to start working on this. They told me they got my list, and that everything was good. The only difference was that their appraisal was much more expensive. Anywhere between $ XXXX {$800.00} ( they wouldnt know for sure until they saw the house ). I knew that I needed more time to get extra money. ( I was not advised at that time that this amount apparently gets averaged into our loan. ) I called back sometime in XXXX of XXXX. This is when they started saying that they could not find the list of improvements, but that doesnt matter because they are unable to use the current value of the home to determine PMI removal. I called back several times and asked for a supervisor. Every time they said one would call me back within 72 business hours, but they did not. I reached back out to XXXX and explained everything. I was put into contact with XXXX XXXX, a part of the XXXXXXXX XXXX Senior Research Team with the Executive Office. I still have the recording of the voicemail where she tells me that the investor on my loan stayed the same, therefore the terms should not have changed. She quoted the terms of : if your loan has been open for 2-5 years, that a home valuation should be completed, and it would just have to come back at 75 % LTV. She offered to do a conference call with SLS to see why they arent seeing all the options that we are This conference call took place on XX/XX/XXXX, between XXXX CST. XXXX, myself, and XXXX from SLS had a great conversation where she mentioned that she could in fact see my previous correspondence with XXXX. XXXX said all this information was correct and that all I needed to do to get the PMI off was fill out a request for an internal valuation, and everything would be finished. I got off the phone extremely relieved and didnt think that I had anything to worry about. After a few weeks of not hearing anything back, I called around the end of XXXX to confirm that they had received it. The lady I spoke to confirmed that they did receive it, but nothing had been started. She told me that she would escalate it. Within a week or two, I was sent a denial letter on the basis that they had not received the authorization form. I called back only for them to go back to telling me again that my investor does not go off the current value of the home to determine the LTV. I asked for a supervisor to step in and help because I really needed help and I didnt understand why I couldnt get what was promised. After a week and a half, I finally got a call back from a supervisor named XXXX. He emailed me a letter saying that my loan was sold again in XXXX of XXXX. ( Please remember I had started inquiring again in XX/XX/XXXX, and had the conference call With XXXX in XX/XX/XXXX ) I called XXXX back and we did another conference call on XX/XX/XXXX at XXXX CST. We spoke with a rep named XXXX. He stated that my principal balance was {$180000.00} and the value of the house was {$250000.00} giving us a LTV of 73 %. He said they actually had received the authorization form and that the request should not have been denied. He advised that he was expediting the request to have the BPO scheduled and that they should reach out to me within a week and a half. After nearly two weeks of not hearing back, I called on XX/XX/XXXX and they said that I have been denied again because of the LTV not meeting the qualifications. SLS has never sent me the terms to remove my PMI, despite me asking multiple times for the investors terms. I have been given so much false information from the beginning and I feel that I have seriously been wronged. I am writing this letter/review to beg for help. I desperately need someone higher to step in and help us fight for what we were promised. I reached out to XXXX to see if they would give me copies of the conference calls. They said they could not give them up without a subpoena ; however, they did write up statements confirming what was said in the calls. I have attached screenshots of the emails and the documents I have ( if there's more that you need I probably have it. ) After this, Sls dispute department called me up and said that I am denied removal and it is their final decision based on one clause in the contract ( saying the original value is defined as the lesser of the 1-original appraised value OR 2- the original sales price. The original sales price is XXXX which does not give me enough LTV to remove ). The way XXXX explained it to me was that yes, those are the basic terms, HOWEVER it goes on to state conditions to remove it early which would include to get a home valuation done and use the CURRENT value. I told XXXX this, and XXXX has since stepped back and told me I'm on my own, despite the fact that they made the promises, it's their contract, and they sold me to a company with an F rating on the XXXX who never even responds to all the complaints of their thievery. Thank you for taking the time to read this. I appreciate any help anyone could give. I have spent countless hours on this fighting this by myself. It is affecting my mental and physical health, my job, and my relationship. ( That's not even including the financial strain of an unnecessary extra XXXX $ /month during these times ) please contact me for any extra information or documents that may be helpful. Thank you again.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32405
Submitted Via: Web
Date Sent: 2023-05-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-03
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX I made a mortgage payment to SLS Mortgage online. They bought my mortgage & I was due to make my first payment to them beginning in XXXX. I made a payment for {$2300.00} the amt for my XXXX payment. It cleared on XX/XX/XXXX. On XXXXXXXX XXXX XXXXXXXX I received an email from SLS stating that my payment was returned. So I called SLS & they were trying to tell me that yes it was returned & I can clearly see in my account that they received XXXX payment. SLS TELLER told me again it was returned so I called my bank on my other phone on speaker. The bank tells me that yes the payment cleared but SLS tried to take out another payment in XXXX. So basically they tried to take 2 payments in XXXX when I only was paying one.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 76002
Submitted Via: Web
Date Sent: 2023-05-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I fell behind do to con-vid, and filed for forbarrence multiple times, and was never able to get back on my feet. The house is now being " foreclosed ''. I submitted a notarized " RESPA '' request, and in return, I received multiple copies, including the promissory note, wasn't copies withe the original signature, ... ( forged ). ... ..also, multiple attempts was made to resolve the current debt with a " 1099-c ", " 1099-nec '', and 1099-oid " IRS " tax forms. No appropriate action was resolved.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 23602
Submitted Via: Web
Date Sent: 2023-06-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SLS is blatantly and repeatedly lying to prevent any communication to attempt to rectify the multiple errors it has created in assuming the administration of my mortgage. In attempting to fix the wrong information regarding the covid forbearance I was told a letter was sent regarding it. The letter had nothing to do with the forbearance. When I called to try to find out why SLS lied about this, I was told only 1 supervisor was on staff. Until suddenly another was available, after a 15 minute hold, but the call couldn't be transferred and I would have to wait for a callback. I clearly and repeatedly stated I did not authorize a callback and would not accept one, that the " supervisor '' needed to get on the line. II was ignored. I called again. The " supervisor '' conveniently callled me while I was on the line with SLS, and then suddenly was on " another call '' and so could never actually get on the line. I have no tolerance for games and will not be treated in such a way. SLS has no authority to tell me " this is how it's gon na be '' and more importantly has no right to do anything I specifically state is not authorized. It claimed to enter this loan into forbearance without even asking let alone getting permission, but also ignoring the fact that it was already in forbearance. SLS has failed at every step and every interaction. This company also fails to follow the law and should be shut down.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19468
Submitted Via: Web
Date Sent: 2023-05-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-02
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: During the Covid pandemic, me and my family were adversely XXXX XXXX XXXX XXXX XXXX XXXX XXXX. Our mortgage company offered me an forbearance plan and reassured me that I would be able to modify my loan after the pandemic forbearance. I accepted the plan. I then abruptly received a letter demanding full payment or my house would be foreclosed. I was baffled because I was made to understand that I would be able to participate in a government program that would assist me with bringing my past payments current. I did not qualify and was denied mortgage assistance and a modification. I was able to get a high interest rate loan and was able to pay the past due amount. My first mortgage became current then months later I received a letter from SLS stating that they are going to foreclose on my home from a second mortgage that our mortgage investor purchased. This second loan was a predatory loan and from my understanding, was charged off in the XXXX housing crisis. I was informed to not pay the second and only pay the first due to my financial hardship. I hadnt heard from the second mortgage company for years, as it no longer exists. In or around XXXX, I filed for XXXX XXXX and the second loan, purchased by SLS was stripped down to {$50000.00}. After approximately four years of payments, I could no longer afford my XXXX XXXX payments and fell out of my XXXX. I attempted to reconcile the {$50000.00} debt to no avail. I hadnt heard from the second mortgage until XXXX, towards the cooling down of the Covid pandemic. SLS demanded {$230000.00} payment. We asked for a modification and SLS wouldnt approve. We didnt hear back from the mortgage again and thats when we received the foreclosure notice in or around XXXX of XXXX. Apparently, our home gained equity and the second mortgage is considered a zombie loan that matured. They are going after my homes equity, known as an equity stripping practice. Due to Covid, my grown children, including my grandchildren, had to return home. I almost died due to contracting covid and it has taken a major toll on my and my families health and well-being. We have no other place to go and will be homeless as our credit and current finances wouldnt allow us to qualify for even an apartment. We were due diligent, paying our mortgage and remaining current to now have to face foreclosure again. I have endured discriminatory practices since I purchased my home in XXXX. I received nothing but predatory, high interest, sub-prime loans, even with making a substantial amount of money and having reasonably good credit. Its systematic racism/discrimination that I didnt want to believe but its blatantly obvious that I was put into this predicament to fail to gentrification. Me and my family have worked very hard and have never used government resources and when we needed them, we didnt qualify and were denied. We are between a rock and a hard place and our blood, tears and sweat prevent me from giving up as we will fight for our home. Please help us with this situation. Thank you, XXXX and XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-05-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A