Date Received: 2021-12-11
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Over a month ago, I exited the COVID-19 forbearance into a COVID-19 Payment deferral arrangement. I then asked to have the repayment of the escrow shortage from COVID-19 forbearance spread out over 5 years ( 60 months ) given this can be done. This is not yet done.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75024
Submitted Via: Web
Date Sent: 2021-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-10
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Mortgage servicer, SLS funding, is not transferring the mortgage per the survivor in interest claim. They keep losing documents and saying they need documents resubmitted and giving dates to call back when nothing ever gets decided.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: UT
Zip: 84121
Submitted Via: Web
Date Sent: 2021-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-10
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: The company is not transferring the mortgage via survivor in interest. I have submitted all the documentation. I/we call XXXXx per week. The company tells us to wait for a final decision until a specific date ( XXXX XXXX ). After XX/XX/XXXX, they say they don't have the information or it isn't a clear document and that it needs to be resubmitted. This process has been in the works for over 4 months with no decision and no contact person to help. They are delaying the transfer of survivor in interest to try and force this mortgage into foreclosure.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: UT
Zip: 84121
Submitted Via: Web
Date Sent: 2021-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-09
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Synopsis : We are requesting help retaining our home of 24 years. It is being threatened with foreclosure after our XXXX forbearance became due immediately. We assert our mortgage servicer, Specialized Loan Servicing ( SLS ) and the investor, XXXX XXXX XXXX XXXX XXXX, were deceptive by not providing clear and transparent information that XXXX XXXX forbearance, a lump sum ( {$56000.00} ) was our only home retention option. We do not have anywhere near that amount and SLS has not given us any reasonable means to avoid foreclosure. Before forbearance we were current on our payments and never would have entered into XXXX related forbearance if we had known a lump sum was the only resolution- we would have sought other options. Also, we were told we were evaluated and then reassured that there were other retention options during the 18-month forbearance. We have until XX/XX/XXXX to make our account current or SLS will begin accelerated foreclosure and we will also be responsible for legal costs. If we didnt know better, we would think SLS and the XXXX XXXX XXXX XXXX XXXX XXXX taking advantage of the pandemic to force us out of our home. We want to stay in our house and are willing to work together with SLS and the investor on any affordable options to prevent foreclosure. Detail : In XX/XX/XXXX due to the XXXX pandemic we had a reduction in household income. At the time we were current on our mortgage payments. I contacted SLS and inquired about forbearance and the terms. SLS stated they evaluated our account and it was given ( Exhibit A ). I never filled out an application or received any legal documentation describing any conditions or qualifications. With the continuation of XXXX I extended the three-month forbearance six times and at each extension SLS claimed to evaluate our account before each extension ( Exhibit A ). I was concerned about the impact of forbearance and during the 18 months contacted SLS frequently asking about XXXX options available ( Exhibit B ). The only letter I received indicating a lump sum was due at the end of forbearance was dated XX/XX/XXXX ( Exhibit A, page XXXX ) ; all the other extensions never mention this. In XX/XX/XXXX before the end of the first forbearance, I was reassured by SLS agents that lump sum was not the only option and not to be concerned as almost always the deficit could be resolved with an affordable option and they would work with us. No documentation I received ever stated lump sum could be the only retention option. Forbearance ended on XX/XX/XXXX and I was prepared and able to resume making monthly payments. On XX/XX/XXXX I applied for loan mitigation assistance as instructed by SLS. Assistance was denied ( Exhibit C ) on XX/XX/XXXX. SLS claimed the mortgage was at the loan modification limit according to investor guidelines. I had no indication this was a possibility and was shocked that we were being forced to give up our home unless we could come up with {$56000.00}. We do not have anywhere near this amount available. SLS offered short sale or deed in lieu of foreclosure. We do not want to give up our home so these were not viable options for us. I requested an independent review on XX/XX/XXXX and got the same response. In the appeal letter ( Exhibit D ) I stated that I was never informed about investor rules and was constantly told by SLS agents there were other options than a lump sum. The appeal was denied by SLS on XX/XX/XXXX and communicated in a letter dated XX/XX/XXXX ( Exhibit XXXX ). In the rejection SLS stated " ... a complete loss mitigation application was needed to evaluate the account for all available options. '' ( Exhibit XXXX ). In effect SLS and the investor would not have told me this modification limit until I applied for a loan modification. However, this " XXXX '' requires that I go through forbearance to know my financial situation before I could apply for loss mitigation and only then find out there were no realistic retention options. I do not think the investor rules were difficult for SLS to discern and notify us. At each forbearance extension request SLS stated the account would be evaluated ( Exhibit A ). In the subsequent approval SLS never stated ( or discovered ) that the loan had exceeded the modification limit. I also note that for our appeal it took only three business days for SLSs independent review ( dated XX/XX/XXXX ) to make this determination ( Exhibit XXXX ) - implying this did not take much effort and could have been easily determined when we first applied for forbearance. Since being denied any retention options other than lump sum, on multiple calls to SLS I offered to accept a payment plan or any reasonable means to stay in our house. Currently, our financial outlook is positive and I restarted payments in XX/XX/XXXX and will continue. It is only the XXXX forbearance payments that are outstanding. Lastly, on XX/XX/XXXX XXXX sent a notification ( Exhibit F ) stating they will begin accelerated foreclosure in on XX/XX/XXXX if we do not bring our account current. An SLS agent told me we are on the fast track for foreclosure. We are asking for some resolution before foreclosure begins and we are also liable for any legal costs. I have explored refinancing but we were unqualified because of the forbearance. I also looked into government mortgage assistance programs, but we are not qualified. Conclusion : We contend : 1. It was in the least negligent and possibly deceptive for SLS and the investor to have offered forbearance when they could have easily told me in advance that we were ineligible for loan modification. 2. As such I did not get accurate and timely information to make an informed decision on forbearance. It is not my fault that we did not receive pertinent information that I had no realistic retention options. SLS stated they could not tell me this until I applied for a loan modification however it makes no sense to apply for a loan modification until I went through forbearance and only then knew our financial situation. Knowing that a lump sum was the only retention option, I never would have entered into forbearance and consequently put our home at risk. I was continually reassured during the extensions that SLS would work with us, but they arent. 3. In the initial forbearance was I told the lump sum amount, all subsequent letters mention that SLS wont know the assistance that can be offered until I apply, but no lump sum is mentioned. In this correspondence they state : we realize that most people will not have the funds to immediately pay the months of paused payments 4. We do not know regulatorily what is required from the investor but the CFPB website page ( https : //www.consumerfinance.gov/coronavirus/mortgage-forbearance-during-covid-19-what-know-what-do/ ) states : Forbearance ends with a payment plan, not a lump-sum payment Homeowners who receive COVID hardship forbearance are not required to repay their paused payments in a lump sum once the forbearance period ends. How can a lump sum payment be expected at the end of the forbearance when we did not have the means to keep up with payments to begin with? 5. I was current on our mortgage at the beginning of forbearance and would have continued to be except for this natural disaster. COVID-19 is unprecedented and should be handled as such despite investor guidelines. We have financially recovered, resumed making payments, and will continue. XXXX. As a secondary complaint, during the last several months I never talked to the same person at SLS twice. I was assigned a single point of contact but that person was never available when I asked. Depending on who I talked to I was given different options on what possible actions to take. Most notably on XX/XX/XXXX I talked for a long time with a very concerned and sympathetic agent who said she would propose a repayment plan to her team and let me know in a week. A week later after not hearing anything I called and talked to someone else who said it was denied almost immediately according to their records. Im not sure if I would have heard a decision if I hadnt called, but it wasted a week of our time on a tight timeline with foreclosure looming. Its also frustrating since I seemed to talk to two different departments, one has to do with mitigation and the other possibly foreclosure prevention. They dont seem to talk to each other. Each time I have to explain the circumstances and start from the beginning. I built the house in XXXX, raised a family here, and invested much time and money in upkeep and improvements. This is where my wife and I plan to retire. I repeat from our review letter to SLS and the investor : Despite the loan modification limit, we are also making an appeal for understanding and help. We are desperate to keep our home and all we have invested and honestly do not know where we will go if we are forced to move. Attachments : Exhibit A. Offers of forbearance and possible resolution options from SLS Exhibit B. Online messages asking about resolution options Exhibit C. Loan modification denial Exhibit D. Request for denial review Exhibit E. Loan modification appeal denial Exhibit F. Notice of intent to foreclose letter Exhibit G. This complaint
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MN
Zip: 55025
Submitted Via: Web
Date Sent: 2021-12-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-08
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: SLS refused to accept the HUD modification-assisted program. SLS refused to give me an affordable modification SLS threaten foreclosure as it's now in a Pre-foreclosure status SLS is very abusive and unprofessional by phone SLS refused to communicate or correspond by email SLS is the servicer of our HELOC and XXXX XXXX XXXX XXXX is the current creditor. XXXX XXXX ( account manager ID XXXX ) told me, if I needed a modification, I would need to go through the HUD government program for assistance. HUD submitted a full modification package with the documents I provided. BUT the account manager, XXXX XXXX REFUSED to accept HUDs authority and do a modification. She insisted that if I want to save my home, I will have to accept the terms of the investor ( XXXX XXXX XXXX XXXX ) or they will foreclose on my home. I have spoken to many representatives in the SLS ( Resolution Department ) but most representatives were very harsh and unprofessional. One representative said, BY LAW THEY HAVE TO TELL ME TO GO TO HUD FOR ASSISTANCE, BUT SLS DO NOT HAVE TO FOLLOW OR ACCEPT HUD MODIFICATION PROGRAM. SO THEY WILL FORECLOSE ON MY HOME IF I CAN NOT ACCEPT THEIR TERMS. Their demands are {$80000.00} cash upfront and a very high-interest rate on the balance ( payment to {$1200.00} for a short 3 years term and increased to {$2000.00} until XXXX ). Our 1st mortgage payment is {$4300.00} not to mention the increased property tax and insurance yearly. XXXX is very unreasonable and harsh with me because I file complaints to the CFPB concerning their MISCONDUCTS AND PREDATORY COLLECTING PROGRAM. THEY ARE FORCING XXXX OUT OF OUR HOME or INTO BANKRUPTCY WE JUST WANT AN AFFORDABLE PAYMENT PLAN WITH A LOW-INTEREST RATE. We can not afford any CASH upfront as we used up our savings to keep up with the first mortgage and cost of living during the COVID XXXX LOCKDOWN. List of SLS of some of the representatives I have spoken to, trying to get an affordable payment plan but with no avail XXXX XXXX many times until XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92117
Submitted Via: Web
Date Sent: 2021-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-08
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I was furloughed during the pandemic and applied for forbearance from my loan servicer in early 2020. I was not advised that I would be responsible for repaying the entire past-due amount after the forbearance period. I have contacted the servicer and requested options to repay the balance over time, I have offered some lump sum payments and have been denied without any resolution except selling my home or foreclosure. My loan is with a private lender which seems to have no intention of working with me. In my latest appeal, I offered to pay XXXX of the XXXX that of the forbearance amount. This offer was declined without any other offer to help us. This seems unfair and I know that government-backed loans are receiving better treatment. I am only asking for time for my income to return and to raise cash to pay this unexpected balloon payment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20910
Submitted Via: Web
Date Sent: 2022-01-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Specialized Loan Servicing ( SLS ) became my loan servicer after purchasing my loan from XXXX XXXX loans. I paid my first payment to XXXX XXXX loans on XX/XX/21 as scheduled. On XXXX, XXXX forwarded the payment to Specialized Loan Servicing as they were the new servicer. On XX/XX/21 at XXXX, XXXX XXXX for the forwarded mortgage payment check at their office in XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX CO XXXX by someone with the last name of XXXX ' XXXX I have since made 5 phone calls asking the payment to be applied to my account and asking the company to stop the harassing phone calls about 'a missed payment ' as they had the check and there was proof of delivery. Each time they state they don't know where the payment is but there is proof of delivery and they are now assessing late fees even after multiple calls asking them to please look for the payment. I have emailed them copies of the proof of delivery, screenshots of my bank account deduction from the previous lender and tried to fix this on my own but i cant get help.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 37421
Submitted Via: Web
Date Sent: 2021-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-06
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XX/XX/21 I am having trouble receiving my escrow refund from Specialize Loan Servicing after refinancing my mortgage loan with them. My mortgage loan with Specialized Loan Servicing was paid off in full on XX/XX/21. I am due an escrow refund of {$6500.00} which I have not received. I was told by the escrow department of SLS that a check for this amount was mailed out on XX/XX/21. The check to this day has never arrived. My mailing address has not changed and has been verified. I was told that all they could do is stop payment on the first check and reissue a second check. The second check was apparently mailed out on XX/XX/21. To this day I have not received the second check! I called the escrow department again today and was told all they could do is issue another check which will take a week to mail out. I live in XXXX, XXXX XXXX'm told the check is being mailed from XXXX The fact that I have not received either check after 2 months makes me question whether they are indeed mailing out these checks! Please look into this matter. I'm very concerned that I will never see my refund. Thank you. XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 981XX
Submitted Via: Web
Date Sent: 2021-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-06
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I am having an issue with my mortgage loan # XXXX, serviced by SLS XXXX Specialized Loan Servicing LLC : XXXX ID Main Office XXXX. This loan has been on a Forbearance Plan since XX/XX/2020 due to adverse impact COVID-19 had on my business. I have had two 3 month extensions of the plan, however my most recent request in XXXX to extend it past the current end date of XXXX has not been responded to by SLS. I have been requesting a response weekly for over a month now w/no luck - SLS keeps saying we will look into it. My business is still impacted by COVID and I'm not able to resume payments and I have requested they grant me an extension since I still have 4 months left of the total 18 months allowed by law. What's worse is that they keep calling me day and to let me know that my loan is past due even though when I log in online ( see attached ), the loan shows still in forbearance but the date still XXXX!! This is nothing but harassment! Please help me avoid foreclosure! Thank you!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20720
Submitted Via: Web
Date Sent: 2021-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Issue is with Specialized Loan Servicing XXXX XXXX XXXX XXXX XXXX XXXX, Co XXXX Ph # XXXX XXXX XXXX XXXX this is the Escalation Dept. My wife and I closed and paid off the Home Equity Line of Credit on XX/XX/XXXX paid all satisfaction fees to Specialized Loan Servicing so that they could notify XXXX XXXX in Pa and have the Lien Release filed with the county. XX/XX/XXXX spoke to Specialized Loan Servicing and was told that all fees paid just waiting to close out the loan. XX/XX/XXXX We received a Home Equity Line Statement showing that the Account was closed so we figured the Lien Release was filed with XXXX XXXX XXXX Pa. In late XXXX we completed another mortgage application with XXXX and were told that we still had an open lien with XXXX XXXX XXXX in the amount of {$280000.00} ( XXXX XXXX XXXX was the original lender on the Home equity Line of Credit but it is now being serviced by Specialized Loan Servicing ). XX/XX/XXXX I called Specialized Loan servicing and was told they had not filed the Lien Release with XXXX XXXX XXXX Pa would do that should be done 5-7 days. XX/XX/XXXX Lien still not showing satisfied had to email Spec. Loan Servicing copy of the Mortgage Documents from XXXX XXXX. XX/XX/XXXX they acknowledge have docs. As of today XX/XX/XXXX still not completed and they can't tell me when they will get it done. I had made several phone calls and asked to speak to a Supervisor and have been told they would call back. Finally heard from a supervisor and she told me they didn't file the lien release because they didn't know how much my Home Equity Line of Credit was for - I noted I had emailed them the copy of the mortgage from XXXX XXXX.so they should know it was for {$280000.00} She said would notify payoff department and let me know when they would get this taken care of. on XX/XX/XXXX Specialized Loan Servicing called and noted that my case had been escalated to get the Lien Release completed but could not tell me when it would be completed. I asked them if they could email me a letter to show to my new Bank that the Lien Release is in progress and She told me that they would not be able to do that. At this point I don't know what to do as I can't get my new Home Equity Line of Credit approved until the Lien Release is filed with XXXX XXXX XXXX Pa.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33908
Submitted Via: Web
Date Sent: 2021-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A