A link has directed you to this review. Its location on this page may change next time you visit.
Specialized Loan Servicing purchased my HELOC from Key Bank of Knoxville, TN and has consistently lowered my interest rate on my interest only HELOC. Looking forward to Athens lower interest from the recent .5 points decrease.
Our mortgage was sold to SLS from WF who did not want to work with us while we were in foreclosure. Had to file chap 13 and although cost me 6000k SLS just gave us a modification after a 3 month trial mod.. Always keep in contact with them, be truthful and at least my experience I still provide a roof over my family's head. Thank you SLS.
Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.
BOA sold my mortgage to SLS....and I haven't had any issues. When I was notified that bank of america sold my mortgage, I did some reading about SLS. All the reviews were beyond terrible. I admit. I was a bit worried. It's been 2 months, and everything has gone fine. I did get a paper saying my escrow account was short. They showed their math. My options were to send them $250 +/-, or I could add it into my mortgage payment for the next year (maybe longer).
Website seems fine. I just make my payments online with a couple clicks. I can see all the info for my account. I like it. Maybe it was easier because I am current. I think it was 60 days (maybe 90) after the mortgage was sold. They don't charge late fees. It took almost a month to get my account info. No big deal, as the money wasn't burning a hole in my pocket yet. Overall a good experience so far. I think this might be the first review I have ever written, but I felt like I had to. If this saves one person from sweating it out like I did when my mortgage switched, it was worth it.
Crooks. They find excuses to make money from you. STEAL FROM YOU. SLS will buy hazard insurance for $1400 per year and sell you for $11, 000. They SNEAKED UP on you at this time of need when most insurance agencies are Closed COVID 19. They INCREASED my loan balance from 83K in the March to 105K in June 2020....20k this CROOKS STOLE. They hired ALL KIND OF PHONE OPERATORS and will not know what is going on with account records when asked. They will LIE and told you missed past payments but this phone operators has no answers. SLS just covering their butts. If asked for REASONS they will tell you, "Ooohh mail your questions to this PO box". Stay away from this crooks SLS.
I had BOA for years, never had a problem. I could go into their website & put as much $ as I wanted to the principal with no problem and be able to see my statement the next month.. correct. SLS does what they want. Very bad/terrible website! You call them up as of these two months you can't get a hold of anyone, only a recorder. Their website is so bad, you have no control, you have no options or leave a message. I'm having a problem of closing this account with no one to talk to. They suspended my payment.. WHY, with no letter to inform me anything. My $ is sitting there. BOA sold my mortgage to them, because of all this trouble with them, I decided to pay them off and now I can't. No one to talk to as my payment is suspended and they didn't post it to my account. Very horrible company, what a nightmare!
- 2,316,281 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
I have a mortgage thru GMFS Lending. I've been a customer with GMFS for approximately 10-15 yrs. Probably longer, because I'm not real sure. I have NEVER had a problem with GMFS UNTIL they hired Specialized Loan Servicing to service my account. It went downhill from there. I have always had a shortage in my escrow account. I get that. So a couple of years ago, I took money out of my 401 K to pay the shortage, to avoid my monthly mortgage to increase. I specifically asked them (memo on the check) to apply to escrow. What did they do? Applied it to the principal... In the interim, the next month, they took the increased mortgage payment out of my account (I do ACH to avoid any late payments). Initially they told me there was nothing they could do until I raised so much noise. Then "eventually", I did get a refund...
Fast forward to April 30, 2020. I called Specialized Loan to request that additional monies be taken out of my checking account (ACH $50) to be applied to the escrow. I was told it was too late to do it for May, but it would be done for the June payment. Ok. On May first my initial payment was taken out as expected. On May 4th, an addition of $856.15 short. I called them. They admitted to the error. Told me at the time they would have to request a refund that would take 7 days. I objected to that process, however, there was nothing I could do.
Fast forward to today May 22, 2020. I got a notice in the mail from GMFS indicating I would not owe a mortgage until July 1, 2020. In other words, they applied that payment to the June mortgage, without calling or writing me. So I called them, only to be told, that was an error. I will owe the June payment. That they have put thru a "ticket" to request my refund. This "ticket" can take up to 17 business days. "Sorry you're frustrated, but nothing I can do" (Mr. **)... Error after error after error of which they are making ME pay for. That is not right. I am 71 yrs old, scraping everyday to make ends meet and this is how I'm treated. I want the world to know how these people operate. I will do everything in my power to let people know.
They offered bi-monthly auto pay options. I signed up to help reduce my accrued interest. One year later I learn that they don't apply the first half to the loan until the 2nd half comes to them. Then when I made a payment ahead they applied it to the previous month and reported me late the to the credit bureaus. Then they refuse to escalate my concern or let me talk with a manager.
Loan was bought from Wells Fargo- I was making payments on the 1st and 15th of each month for several months and all of a sudden my loan shows up late - NO WAY and I called & Rep informs me that SLS does not accept partial payments - WELL YOU DID FOR SEVERAL MOS. I inquired about the missing payment - I was put on hold several times and she finally comes back and says that when they receive a partial payment they don’t know where to put apply it - DUH - you apply it to the customer’s account - you have the account number. Also asked about PMI - my home meets the LTV requirement but they want me to pay up to $800 for a valuation on my property plus other fees - NAW!! I do not like Specialized Loan Service and will be refinancing will another mortgage company real soon!!!
My 2nd mortgage loan is approaching maturity so I was getting a letter/bill from SLS stating that the amount shown is not the final total and that I should call or visit their website to get a payoff amount. I used their website. When I got a payoff quote it did not include the last payment I made but I also noticed there were charges that didn't look right especially the one that was for a late payment!? So I waited a few days and got another quote. This time the late payment wasn't there and there were other charges! I'm thinking something is very wrong with the computations. I did another quote and it was different again! So I called them and the rep could not explain the charges because he didn't know!
He did tell me that a charge for $75 (he knew that much) was because I had got a quote 3 times. He said there is a charge of $25 each time a quote was given! Huh? I told him there was no mention I would be charged for that on the website and plus they asked ME to contact THEM for a payoff amount. This is an unfair charge. I am getting letters every week now with a new different payoff amount each time and the $75 charge was on the last letter. I have emailed their customer service and had no reply as of yet. This company doesn't appear to be organized and should not be dealt with. I know after I pay this loan off I will do my best to get the word out about my experience to all agencies i.e. state and federal. This is a company that you need to stay away from.
Still waiting for a callback so I can pay my mortgage. Company refuse to call or respond to emails. Complete joke and should be bankrupt. I shouldnt have to go through so much trouble to pay a bill. Doesn.t seem like they care about customers.
Specialized Loan Servicing Company Information
- Company Name:
- Specialized Loan Servicing
- United States