Date Received: 2023-03-28
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Since XX/XX/2022, the interest rate of the line of credit has increased from 3.75 % up to 8 % in barely 4 months. I have requested a copy of the note in multiple occasions XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. I have never received the Note. The first two times, Specialized Loan Servicing stated that they had sent the requested information by regular mail, and if USPS never delivered the document, that situation was out of their control. However, on XX/XX/XXXX, a customer service representative named XXXX confirmed that the Note would be sent via email by XX/XX/XXXX. Today, it is XX/XX/XXXX, and I have not received the copy of the Note that I have requested 4 times. I am entitled to have a copy of this document with a clear explanation of why the interest rate has increase almost twice since XXXX. Specialize Loan Servicing has an obligation with the borrowers to provide the Note. Please investigate the questionable practices of the company, hiding information and delaying the delivery of this important document
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33179
Submitted Via: Web
Date Sent: 2023-03-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-28
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Hi. Im filing this complaint in reference to my loan that I reinstated and had a lot of outrageous charges. Since pandemic i struggled to make payments. I tried loan modification several times but SLS says they never got a complete package. The fees, attorney fees amount was extremely high for the reinstatement. Even though foreclosure never happened those fees are outrageous. I talked to a rep in XXXX and the amount to reinstate was $ XXXX, they attached alot of unnecessary fees to make it over {$17000.00}. Im requesting that SLS reduce all those unnecessary corporate fees, attorney fees and other fraudulent fees and credit that towards my principle balance or send me a check for the fraudulent charges that was added to my account. I borrowed over {$170000.00} from family member to reinstate my loan. None of that went to my principal balance because its still the same as it was when I fell behind due to the pandemic. after I made a XXXX payment. Those funds should have brought my principle down from what it was in XXXX of 2020. My balance is still the same.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 23666
Submitted Via: Web
Date Sent: 2023-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX, TX XXXXXXXX XXXX XXXXXXXX SLS Specialized Loan Servicing LLC ( SLS ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CO XXXX PAYOFF LOAN NO : XXXX XXXX I paid off the loan XX/XX/2023. Please apply my positive escrow balance of {$6800.00}. XXXX as discussed. 2 The principal balance is {$6800.00}. There should be no balance if you moved escrow to principal as requested. This amount should have been in additional principal as already discussed. 3 Interest was already calculated and charged til XX/XX/XXXX Remove interest of {$19.00} 4 Refund my balance of {$11.00} plus interests XXXX. 5 Refund {$85.00} Fees collection Your statement on the pay off : If the payoff funds are insufficient, we may apply funds from the escrow account, if available, to complete the payoff. If enough funds are not available to complete the pay off, the amount remitted for pay off will be returned with an amended payoff quote. ANY AMOUNT HELD IN ESCROW AT CLOSING WILL BE SETTLED IN ACCORDANCE WITH APPLICABLE FEDERAL LAW. Release lien ; the title company must prepare the release of lien. The release is mailed to the county, borrower, or Title Company for recording Sincerely XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77479
Submitted Via: Web
Date Sent: 2023-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My home mortgage lender, Specialized Loan Servicing ( SLS ), offered me a covid-19 relief program. The program began in XXXX of XXXX. It was a 12-month forbearance program. One of the options offered was, at the end of the forbearance, to add the amount that was in arrears on to the payment, which I agreed to. However, at the end of the forbearance, they instead required that the entire amount that was in arrears to be paid all at once. They told me at the time that it was the only option available, which was not part of the original terms, otherwise I would have never entered into the program. The terms are in writing, and they were also explained through the SLS rep over the phone. The original arrears amount owed was around {$27000.00}, which I did not have available to pay in one lump sum. Since the only amount they would accept was the full amount in arrears, after 2 years of fighting and being denied a loan modification, the amount is now {$90000.00}. I am in foreclosure, and they are taking my home. I did not initially approach SLS about this program. They offered it to me. My payments were on time and in full up to that point, although my business was suffering due to covid, I welcomed the relief. All my other bills are paid in full and on time, and my credit score is in the mid XXXX to this day. When I called around to see if a refinance was available, each establishment said that I needed to be able to show 3 months of on time payments before I could refinance. I hired a law firm of XXXX XXXX XXXXXXXX to assist. Since SLS made it clear that resuming payments was not an option, we instead attempted a loan modification. We were repeatedly turned down as they stated that we did not qualify, partly because the XXXX was too low. The lender just appraised the home at $ XXXX and we owe a total of $ XXXX, which includes the amount in arrears. Throughout the process, I kept referring to the written notice that showed the option to resume payments was part of the original plan, and that they were not honoring the original agreement. They said that that notice was simply a standard form that they send out to everyone in the program. But that was the information that I was relying on in my decision to enter the program. After our mediation, SLS changed their tactics and told my attorney that we never initiated the repayment process through their online portal, and that was the reason that we could not resume payments. THAT IS NOT TRUE. The reason we could not resume payments is because they told us that we couldnt, and that full payment of the arrears amount was our only option. However, after the mediation, SLS referred to that same document and used it as the excuse for saying that we never initiated repayment through the portal. Theyre making a circular argument. First, they tell me that the document is just a form letter that goes out to all participants in the program, and that the clause referring to the repayment does not apply to us. Then, when they were pressed as to why they could not start accepting the repayment, they referred back to the same document and said that it was our fault that we never set it up through the portal! I spoke with their reps at least four times during the course of the forbearance, and each time they assured me that we could start the repayment at the end of the forbearance. They never once mentioned anything about the portal. If that was truly the only issue, then they could have simply said that if we're ready to begin repayment, just open up the process in the online portal. But they never said that. They only demanded full repayment. So, which is it ... .we were denied because we were told the repayment option did not apply to us, or we were denied because we never applied for repayment through the portal ( which we didn't because we were told that that option was not available to us )? Since my lender wont accept any payments, I can not qualify for anything else. These other lenders also said that they have heard similar versions of this story repeated many times. I am bringing this situation to your attention in hopes that shining a light on this injustice might expose this bait-and-switch practice and perhaps I can find a solution or some relief. I am requesting that they be made to honor our original agreement with the original terms.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89129
Submitted Via: Web
Date Sent: 2023-05-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am writing regarding COVID 19 Forbearance and COVID Protections/ COVID-19 payment deferral : Forbearance and COVID Protections Your records indicate that I was under COVID forbearance from XX/XX/XXXX through XXXXXXXX XXXX XXXX. There were no late fees and no negative credit reporting issued for the account during this time. SLS while it offered some some of forbearance did not offer additional COVID protections/COVID-19 payment deferral at the exit of Forebearance despite requests. COVID-19 payment deferral Immediately after your forbearance plan ends, an amended federal law allows loan servicers ( SLS ) to offer a payment deferral option to homeowners who finish a coronavirus-related forbearancewithout requiring a complete loss mitigation application. SLS Did not do this, therefore making me delinquent internally. The Federal CARES Act ( Coronavirus Aid, Relief, and Economic Security ) offers the following protections for homeowners with federally backed mortgages : 1. Mortgage Forbearance. Servicers required to provide 180 days of mortgage forbearance ( with option to extend for an additional 180 days ) to borrowers attesting to COVID-19 financial hardship. Servicer may not charge any fees, interest, or penalties beyond amounts scheduled or calculated as if borrower made payments on time and in full. Applies to federally-backed mortgages ( FHA, VA, RHS, XXXX XXXX and XXXX XXXX ) . 2. Credit Protection During COVID-19. Requires that furnishers of information to credit reporting agencies who agree to account forbearance or modified payments due to COVID-19, report a consumers obligations or accounts as current or as the status reported prior to the accommodation during the period of accommodation unless the consumer becomes current. This applies only to accounts for which the consumer has fulfilled requirements pursuant to the forbearance or modified payment agreement. COVID-19 payment deferral : I was eligible for a COVID-19 payment deferral immediately after your forbearance plan ends. It was not offered or approved My loan is covered under the CARES Act, and loan should be reported as current to credit reporting companies if You were current before receiving a forbearance plan or another accommodation related to COVID-19 and I made your required payments under the forbearance plan or other accommodation ( or were not required to make any payments ). Sincerely,
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77479
Submitted Via: Web
Date Sent: 2023-03-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-27
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: the company name, XXXX, specialized loan XXXX XXXX seems to be doing unethical conduct of business. for my case, I am in the process of refinancing, and needed to get the payoff quote but this company made '' intentional " mistake to make me stay in the company, colleting lots of interest money from mortgage payment. Since the rate I got was 8.6 % so needed to get refinanced. this sls company paid unnecessary property tax from my escrow account, XXXX. the property tax already paid on XXXX, XXXX by doing this way, caused my escrow account to be " negative '' so the payoff quote I needed to refinance can't be done correctly. I had to extend the rate lock 3 times at my cost and requested the company to correct the intentional mistake asap. talked numerous associates, including 3 way calling with loan officer from refi. hours and hours of explaining and talking and of course waiting and holding hours, what a waste, each associates from customer service, escrow dept. tax dept. seemed " not care '' about the correcting the negative escrow amount purely caused by the company, rather they said that I need to proceed including the negative escrow in payoff, the negative escrow is {$4000.00} almost. why I should include the negative escrow amount in my payoff quote???? It is almost impossible for them to correct it. tossing me to different dept. different associates, seems foolish people who don't know what they are doing or try to escape from the issue by transferring me here and there, everyday, every time.!! It seems to me that they are all liars!!! don't recommend this company, specialized loan services, XXXX XXXX XXXX XXXX, to anyone, nobody should be using this company, full of bandits!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78247
Submitted Via: Web
Date Sent: 2023-03-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XXXX, the state of Georgia paid the past due balance of my mortgage payments requested by my lender, Specialized Loan Services, in order to bring my account current. The money was paid through a state funded program called the Georgia Mortgage Home Assistance Program. In addition, to the program bringing me current, they also paid my mortgage up for an additional 3 months.This check that was issued and received by my Lender, for my behalf. The additional money allotted by the program pays my mortgage up through XXXX. This is done by the program in order to help home owners stay current so that they are less likely to default in the future. The Program notified me about the additional funds they were giving me and told me to make sure the Lender does not misappropriate the funds. Well that is exactly what Specialized Loan Servicing did, they misappropriated the extra funds. I call it outright stealing. My Lender was very aware that the additional funds were to be applied to my future payments for the next 3 months. My Lender had already received the amount they requested in order to satisfy my past due owed. Therefore this was no error. I called Specialized Loan Services in XXXX and asked them to properly apply the extra funding that was given to me. They told me they were applying it to my future payments at that moment. As of today, my funding has not be applied to my future payments. Specialized Loan Services has stolen my funds and they are now attempting to default me illegally.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30008
Submitted Via: Web
Date Sent: 2023-03-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-25
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Loan was put into hardship forbearance and at end of forbearance period I was advised that negative reporting would be reported if I entered into modification so I paid the entire amount in full this was XXXX or XX/XX/XXXX and have made current payments since this date, XX/XX/XXXX I was reported to the credit bureau as being 120+ days late and in modification plan which is not accurate. I have reached out to SLS servicing multiple times over the last 2XXXX days since this derogatory reporting was reported and talked to at least 10 different representatives and requested to speak with management since my job is in jeopardy since I work in finance industry and this issue has not yet been resolved. I need immediate correction to my credit report showing file is current with all payments.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: LA
Zip: 70458
Submitted Via: Web
Date Sent: 2023-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX, XXXX XXXX XXXX finance my home. I applied for the COVID-19 mortgage assistance in XX/XX/XXXX with the XXXX XXXX XXXX XXXX XXXX XXXX ). I signed the third-party authorization form for XXXX to process my request. XX/XX/XXXX, my application was approved for 12 months of mortgage payments up to {$50.00}, XXXX toward my loan. XXXX begin submitting payments in the amount {$1800.00} on my behalf to XXXX XXXX XXXX XX/XX/XXXX. On XX/XX/XXXX, my mortgage loan was transferred to Specialized Loan Services LLC XXXX ID XXXX : XXXX XXXX XXXX XXXX, XXXX XXXX, CO XXXX XXXX XXXX XXXX XXXX, CO XXXX XXXX : XXXX Fax : XXXX. I have filed previous complaints regarding SLS Mortgage failure to provide XXXX Information to resume my mortgage payments and correcting my credit report at the Credit Bureaus. After 6 months of call and submitting numerous complaints, SLS MORTGAGE finally provided the requested information to XXXX. Unfortunately, I am still experiencing problems with SLS Mortgage. The mortgage company is not posting my AHFA payments ( on my behalf ) to my mortgage account. According to XXXX, on XX/XX/XXXX ( attached ), their office processed and submitted my mortgage payment in the amount {$1800.00} via Wire to SLS Mortgage for my XX/XX/XXXX payment. As of this writing, my XXXX XX/XX/XXXX payment has not been applied to my account. I have contacted their office numerous times and requested an investigation to locate and post my XXXX XXXX payment to my accounts. However, the issue has not been resolved and I am getting numerous phone calls from SLS Mortgage regarding my XX/XX/XXXX payment that they have received from XXXX but failed to post to my account. I am contacting your office for help to get the issue resolve so that to bring my loan current. Thank you,
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 354XX
Submitted Via: Web
Date Sent: 2023-03-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-25
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Mortgage for XXXX XXXX XXXX XXXX, XXXX XXXX I am XXXX and have been since XXXX. I am a certified XXXX survivor and am receiving Social Security XXXX benefits as a determination has been made of my XXXX dating back to XXXX of XXXX. I continued making my mortgage payments but when Covid 19 occurred I was not able to stay current consistently and requested mortgage assistance. During this process, I was approved for several mortgage resolution programs including Deed In Lieu, Short Payoff, Short Negotiated Payoff. Each time I submitted the appropriate paperwork for a program, Specialized Loan Servicing neglected to fulfill their obligation to complete the process. The first reason was that they were unable to get clear title. If that was true then no other program could be accomplished. SLS Neglected to follow through to resolve the title issues in order to complete this mortgage program. Subsequent to that, I was approved for a short sale. An appraisal done by SLS in XXXX of XXXX resulted in a value of {$7000.00}. I provided a buyer and contract for offered a short sale amount of {$7000.00}, which is 100 % of the appraised value. I was informed by my account representative XXXX that they would accept 90 % or more. SLS rejected the offer. In XXXX of XXXX another appraisal was done which resulted in a value of {$20000.00}. This was very odd that a property would have appreciated almost 300 % in 1 year. This is highly unlikely for this region. Additionally, I was informed by XXXX that the investor requires that I submit an insurance claim for the roof which is damaged. I indicated that I can not file a claim since there was no specific incident which caused the roof damage but I was informed by SLS that they would not accept any additional offers without the insurance claim because the investor needs to avoid a significant loss on the property. This could be seen as fraud as it is a known fact that a claim can not be filed when there is knowingly no justification for the damage with respect to insurance guidelines. As expected, the insurance company rejected the claim. In XXXX of XXXX, I paid for an appraisal which resulted in a value of {$10000.00} for the property at XXXX XXXX XXXX XXXX, XXXX OH. So far this is 3 separate appraisals for the property : {$7000.00}, {$20000.00} and {$10000.00}. The {$20000.00} appraisal is definitely curious specifically since it occurred after one which valued it at {$7000.00} and after SLS determined that there was significant enough roof damage to file a false insurance claim. In XXXX of XXXX, I offered {$12000.00} for the property after being approved again for a Short Negotiated Payoff and SLS insisted on another appraisal. After 3 distinct appraisals, the mortgage servicing company felt that they were still unable to make a reasonable judgement on the value of this property. This is extremely unprofessional and irresponsible. The 4th appraisal was not completed by the appraisal company as I was informed that the appraiser refused to enter the property because he witnessed animals inside. On XX/XX/XXXX of XXXX, I received a letter from SLS indicating that they would accept {$40000.00} for this property. I would like this company investigated with respect to the following allegations : 1. Disingenuous appraisal value and collusion with the appraisal company ( extreme variance in appraised value from {$7000.00} to {$20000.00} in a 1 year period ) 2. Insurance Fraud - requiring me to file a claim without having a specific event which caused damage 3. Failure to do due diligence in securing clear title to complete an approved Died in Lieu resolution. Please inform of the investigation into this behavior by Specialized Loan Servicing. Regards, XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11213
Submitted Via: Web
Date Sent: 2023-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A