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After 12 yrs with another mortgage company my home loan was transferred to Specialized Loan Servicing. They really need to change their name. They are not a competent business. SLS is horrible. They specialize in taking people's homes and/or take money unfairly. I never had a problem with my previous lender. Ever. I have had nothing but problems with SLS since my loan was transferred to them a few months ago. Every. Month. And it's just getting worse. I've been lied to & told that my problem with them is getting corrected. I've been told that a supervisor would be taking care of my case. To date, no supervisor has been contacted, unless my complaint is really being ignored by their Administration. Please put notice on here if there is a class action lawsuit against them. I'm in.
This company has screwed up so many things it is unbelievable. Each mistake costing me time and money. The customer service is horrendous and getting ahold of anyone that is willing/competent enough to help is just about impossible. The business should be shut down.
I had several calls to customer servicer escalation department, their service is a nightmare (my previous servicer was perfect). This company has come out with fees and ideas that you can not imagine. Fees: as being three-time late on my payments when I had proved to them via fax with a copy of canceled cashier checks that my payments were sent on time. The latest on the 8th of every month. The earliest on the 3rd of every month. Stories as I am or loan was placed in BK. This never occurred. SLS associates' names are Diana, Miramar, Catherine, Jeremy, Kaley and the last smart one is Craig who made me wait and cut my phone call (after I gave him dates, times, names and log follow up). This company and associates are the worst in the industry. I guess they are trying to send people to foreclosure without any reason.
Some years ago (I don't remember when) my Home Equity Line of credit was transferred to Specialized Loan Servicing. Five years ago I had to file a Chapter 13 Bankruptcy, and although I was never in arrears with SLS that loan had to be entered into the Chapter 13 filing as a debt. For the past five years the Chapter 13 Trustee has made the payments to SLS for me, and I started making them on my own this past November once my bankruptcy had been discharged.
I just got a notification from one of the credit bureaus that there had been a negative comment on my report, and that my credit score had dropped. It turns out that SLS has reported me as being 120+ days (over 2 years, actually) delinquent on my payments! Furthermore, they have reported the original loan amount as being outstanding, which does not reflect 12 years of regular payments that they've received. They have been unresponsive to my communications, and would barely talk to my attorney today when she contacted them. Although both of us have sent documentation to support my claim, their response is that I will need to file a dispute with the Credit Bureaus if I want this resolved.
In the meantime, the credit rating that I have slowly been rebuilding has just taken a huge drop, and I am saddled with the responsibility of a battle to restore my reputation. The simple solution would be for SLS to review the documents, and then correct their error, but they do not seem to want to make even that much effort to correct a serious mistake on their part.
For the record, if I could rate this service a zero star (or negative) I would. Unfortunately, since most of us have no say in where our loan is ultimately serviced, these reviews are mostly worthless, since previous complaints are all AFTER our loans have been transferred. So some advice to anyone applying for a home loan; if there is any way to write into the contract that the originator holds the loan (my prior loan was with Capital One and they serviced it the entire decade I was with them) I would highly encourage you to do so. The service provided by SLS is tragic on so many levels, but the inability of anyone to actually service, understand and remediate any problems is a disaster.
It took me dozens of calls and 15 months of overpayment of escrow to get my excess back (due to a pay by legal situation), BUT the key is getting any problem escalated and getting the phone number of whoever is working on your case. Now I will continue to call the same exact person any time I have a problem, and they generally return a call within a day. This company should not be in business, in my opinion, or it should hire competent people that understand the underlying product, mortgage servicing, which the majority of employees fail to grasp the concept of.
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Updated on 02/01/2019: Update to our previous Specialized Loan Servicing (SLS) feedback. One contributor commented, "these reviews are mostly worthless, since previous complaints are all AFTER our loans have been transferred." Regardless, consumers STILL need be aware of how inefficient, unprofessional and disorganized this party (SLS) is, how substandard their service is. The more documented details about this entity, the better for consumers overall. Consumers can glean from individuals’ feedback on this forum the information they feel is pertinent to their issues, situations. So, "useless reviews"? Not at all but rather all pertinent to disclosing the gross deficiencies of this entity, Specialized Loan Servicing.
However, that same contributor was correct. SLS's service is "tragic" on ALL levels, grossly substandard, unacceptable and, ultimately, very damaging to consumers' welfare. Perhaps by publishing valid (keyword: “valid”) feedback about SLS’s gross inefficiencies additional class-actions will be filed, with the possibility of forcing SLS out of business (and sending their parent company, Computershare, back to Australia).
Original review: Many of the complaints here are indeed valid complaints. (Un)Specialized Loan Servicing (SLS) allegedly purchased our mortgage from Wells Fargo Home Mortgage in November, 2018. However, it was WF and ONLY WF who sent a notice advising us of this change, LESS than two weeks prior to our next mortgage due date.
No communications whatsoever were received from SLS forcing us to make several phone calls to SLS. Nonetheless, we mailed a payment to this party to the address indicated on the WF communication (USPS) in the absence of any communication from this party. That was just the start of the problems, the tip of the massive iceberg. The litany of issues and complications goes on seemingly ad infinitum. For one, the payment mailed on 11-22-2018 for 12-01-18 was NOT deposited to our bank account for almost 4 weeks, therefore we had no idea about the status of our payment.
Next we were able to set up a "user" name and password (with a great, GREAT deal of difficulty such as being bounced from SLS's website to Computershare (the inept Australian owners of this company) back to the SLS site, several links within the SLS site, Computershare, SLS, etc, etc, etc. However, the SLS site returned a message that an account, details or information (mortgage) could not be located related to our mortgage or names. With a great deal of persistency, time and effort we were able to obtain a mortgage number but SLS STILL could NOT locate an SLS account related to our mortgage!
Fast-forwarding through a number of other problems, after finally being able to login into SLS, at the beginning of January 2019, we could only view scant information about our account. Fast-forwarding through yet even more exhaustive communications and account issues (this company does NOT provide email addresses nor does their online communication portal provide complete message threads NOR the option to reply to their reply), to this date, we have NOT received a single mortgage statement NOR can we view mortgage statements online, NOTHING.
In a conversation with SLS supervisors on January 22, 2019 (2-1/2 hours) we were told that our account had a "lock" on it which they called a "mail code lock", preventing access to mortgage statements and, two, making online payments, all due to a Chapter 13 repayment plan that had been dismissed (completed) and registered as such with the courts for over two years. The former mortgage company (WF Home Mortgage) had removed all references to that CH13 and we in fact have established credit lines with 3 major credit card companies with high limits. Our FICO scores are 800-820 and continuously rising.
Bottom line, SLS should not have "locked" our account due to a DISCHARGED CH13 case that had been registered as discharged with the U.S. Court for over TWO years. Further, SLS irresponsibly picked this invalid information up from some obscure, severely out-of-date public records since WF had no references to that CH13 on our mortgage account and, again, we have reestablished high credit limits.
The site is still difficult to log in to. Scant information on our mortgage is available and, again, we are still struggling to resolve the litany of issues with this disastrous mortgage acquisition. This is simply one of the most disorganized, inefficient (servers down for more than a day, also shutting down the telephone lines) and, as many others have commented, one of the most unprofessional entities in the financial industry. Lastly, we've learned that there was a class-action lawsuit filed in 2018, in the NY courts for almost identical issues, "misrepresenting the character and legal status of a consumer’s debt" (SLS locking our mortgage account for a Chapter 13 case that has been discharged for OVER two years).
Our next steps will very evidently have to be contacting the SLS CEO (Toby Wells) and Computershare US CEO (Nick Oldfield) instructing them to resolve the aforementioned issues immediately and valid, rightful demands for damages (distress, confusion, excessive irritation and agitation brought by SLS's inefficiencies).
Here is my experience in a nutshell: They increased escrow and did NOT tell me (they say they sent a letter, I did not receive it). I continued to make the original payment... The delta is/was $93...that they put the amount in a pending account AND charged me late fees. So why the increase in escrow? Because they estimated an increase in homeowners insurance. My insurance company confirmed my rate did NOT go up. So Specialized Loan Servicing increased my escrow just because. Specialized Loan Servicing increased escrow for no reason, held onto my original payment, and the kicker? Dinged my credit for late payments, which is now greatly impacting my ability to purchase a home. Hate is not a strong enough word for how I feel about SLS. How do I as a consumer remove Specialized Loan Servicing from my life?
Horrible company. Makes mistakes all the time and does not own up to it. Has made several escrow calculation errors in the past. But now they have crossed the line. I make all my payments on time and even pay extra every month. They took my money from my account, as usual, for the November payment and did not apply to the mortgage payment. As a result they reported a delinquent payment to the credit bureau. They had my money and reported me as delinquent. This is so wrong!
Now, 2 months later they state they have corrected the issue, but that does not reflect in the credit bureau as it may take sometime. I requested a letter from them stating they have corrected the issue or has the intent to do so, but they refuse to issue one. They told me file a dispute with the credit bureau. How is this fair? I did not make any mistakes but I have to be running around to correct your error. Please own up to your mistakes and do the work to have this fixed. Stop pushing off your incompetence to me. Also please do me a favor sell off my loan to another company.
SLS has overdrawn my account twice this month. SLS withdraw my monthly payment on 1/4/19, then again 2 more times 1/8/19 and 1/11/19, my checking account is overdrawn by thousands. My bank understands the problem, reversed the charge but it takes 24 to 48 hours and gave me suggestions on how to deal with the mortgage company.
Since 1/8/19 I have call SLS 5 times, ask to speak to a supervisor 3 times, promised that SLS supervisor would call me back. Nobody has called me. A rep said she saw the problem, she said SLS got paid and should be taking the money. All I am asking for is for them to stop charging my account every 2 to 3 days incorrectly. I am getting the same runaround stuff other people have noted about fax us a copy of your account. I am not asking for a refund. I am asking for them to stop overdrawing. NOBODY SHOULD TAKE A MORTGAGE WITH THIS COMPANY. I read that another SLS is customer is going to refinance just to get away from SLS. That is the best idea.
I just got off the phone with the 13th SLS rep in the past 3 months. I've had GMFS since 2015 and NEVER EVER EVER had an issue. SLS takes over my loan and I am having PTSD! They told me that my home was in a flood zone and needed to add flood insurance. I had my insurance company send over a policy (only to find out that the SLS never paid it) and they eventually added their own policy (mine was $475 a year... theirs was $3500 a year). My mortgage increased and my escrow account went into the negative. I got my original policy added and have not received a refund to my escrow account for the policy that they added. I've received 8 different escrow analysis, each saying something different. I'm told there’s a shortage in my account and they can't explain it. I've spoken with 2 different reps who've told me that my account should have been refunded and it will happen and to call back for an updated escrow analysis... STILL WAITING!
I've received letters asking for different amounts, stating that my house is going to go into foreclosure, and here's the best part...I received a letter in the mail stating that I’m of a class action lawsuit against SLS for this EXACT SAME THING! So after the 13th person that I've spoken with, I was told to call back on Monday to speak with someone in the Customer Escalation Department. I asked if they could call me and was told that she didn't have an extension for them and to just call back. This is my first time buying a home and initially thought I had done something wrong but after doing a lot of number crunching, stuff just ain't adding up... ANNND my credit score has dropped because I was advised to cancel my autopay until the escrow analysis was updated (which I did) only for them to report me to the credit bureaus. These folks are absolute NIGHTMARE! (sorry for all the caps... I'm just pulling my braids out dealing with these people!)
I just received my papers from Wells Fargo that my mortgage has been transferred to these people after 15 years of faithful payments to them. From what I am reading I am going nuts! This is the same sleazeball tactics mortgage servicing companies used that caused the housing market crash... That caused a deep recession... That cost me my job of 25 years! I am not sure what to do or who to contact for assistance and protection from loan sharks. Any assistance would be greatly appreciated... And if legal advice comes this way please give contact info. I WAS 1-1/2 years from retirement but now I am shaking to the bone! GOD HELP ME... And US!
This company is inept and unqualified to assist their customers. I have been trying to get a loan modification with this company. They lose your documents on a daily basis, and too many employees work the same case file, which causes more confusion. Nothing gets accomplished when talking to these inept people. The left hand does not know what the right is doing! I have no idea how this company received an A+ rating from the Better Business Bureau?! Stay away if possible from doing business with SLS.
This company is out to STEAL your money. Escrow Analysis suddenly deemed $200 extra payment, then said, "No our mistake," but yet they took the money and saying they cannot refund it. Then backtracking and saying there is a shortage?? They are unable to provide details. 8 yrs never had a problem. These guys take over my mortgage and now there are issues, and forcing me to pay them more money without providing information. They themselves do not know what's going on. GARBAGE COMPANY. Class action lawsuit next for SLS.
I received a escrow analysis of which I pay $20-30 extra every month to go towards and shortages in my loan. Now for 2018 they're telling me I have a shortage of $1149.27. So I call and speak to rep. He sounded like he didn't understand the shortage statement. Told me to continue paying my regular mortgage amount of $415.71, and that an adjustment will be made in Feb 2019, then to call them back in April to request a new escrow analysis. This doesn't add up. SLS needs to explain this in more detail and simplify it us.
My new home mortgage was sold to SLS early this year (2018) and for the first few months I received a paper mortgage statement in the mail, as I requested (I'm old and old-school) which I faithfully paid. In September, time passed and I received no statement and no email of any kind regarding my now-due payment. I called, assuming it was something small and easy to correct (HA!), was told to just send in my check and it would get credited... No explanation as to why I stopped receiving my statements, no apology, no offer to email me the statement so I could have a copy for my records... just mail the check. I asked where I should send it as they have several addresses online and the rep had absolutely no idea... I could tell she was guessing and when I asked her to send me an email confirming our conversation (in case the check went to the wrong place and didn't get credited) she said she had no ability to email me.
Same thing happened in October and I had another lengthy phone conversation on Oct. 1 with rep Seth regarding the identical issue. After getting nowhere, I literally photocopied an old statement, made notes about the situation and mailed in my Oct. check. On November 8 I had yet another long conversation with rep Rebecca and asked for an email bill and to PLEASE get me back on the paper statements. Nothing happened so I did yet another copy a note-filled old statement and mailed the check. On Nov. 10 I had been stewing about this and called back, this time speaking with a Customer Service Level 2 named Jacob who literally said "I will take this as a personal challenge and I promise to get this accomplished for you."
So here it is Dec. 10 and there's been no statement in the mail, no emails, no nothing. I've been in the hospital for over a week and cannot muster the energy to make another pointless call so will, AGAIN, copy an old statement and mail my check. It's hard to believe that a company with this number of 'worst ever" reviews seems to keep right on getting them and we, the poor take-it-up-the-tailpipe consumers have no control other than to re-fi the loan. This is economic madness with a whiff of fraud thrown in for good measure. Specialized Loan Servicing is the definition of conscious and purposefully horrible customer service. Would love to know who is really behind this company and it doesn't surprise me one bit that they seems to be the "go to" mortgage buyer for the nefarious Wells Fargo...
We took a Freddie Mac hurricane disaster forbearance with Bank of America in October 2017-- they were great! Our account got taken over by SLS in 2/18 and the nightmare began -- they never acknowledged the program existed, I spent useless hours on the phone with them, and now I'm trying to get my credit repaired because of their misreporting! If we weren't trying to sell this property, I would refinance just to get rid of them!!!!
I myself am not a mortgagor or customer of Specialized Loan Servicing LLC, however, I unfortunately encountered this company when I discovered through the Fulton County Clerk's record office in GA when submitting payment for the property taxes of the condo that I own outright that this company has been trying to pay the property taxes on my Atlanta, GA condo even though I don't hold any mortgage or loan from them (or from anyone; I paid for my condo entirely up front in cash when I purchased it several years ago). It appears Specialized Loan Servicing has the wrong property address (my condo address) that is the account for another person mortgagor/borrower who took out a mortgage on a different property.
Alternatively, if not a highly negligent address mix-up by Specialized Loan Servicing LLC that the company's representatives won't bother correcting, this company is engaging in substantial fraud trying to wrongfully (and unsuccessfully) acquire ownership of property to which they have no claims to title (I am the owner of record and have the deed for my condo). When I tried contacting Specialized Loan Servicing to correct this error, I've been run around in circles and got nowhere. In the meantime, they're causing a big headache for me by engaging in transactions that make them seem like they have mortgagee claim to my property (which they of course don't), while someone else (the actual mortgagor/borrower of another property address) is getting screwed because their taxes and/or mortgage payments are not being applied to the proper account and address.
I'd be very nervous if I were a customer/borrower of Specialized Loan Servicing given what I've encountered that they have my condo address erroneously listed as being the address of a mortgagor/borrower from their company. In the meantime, I hope they very quickly correct this discrepancy for my peace of mind and for the integrity of the property status of their true mortgagor/borrower. Specialized Loan Servicing must be inspected for their gross negligence and/or outright fraud.
The total billed for mortgage for 01/01/2018 to 11/01/2018 totals $9,271.13. For that period of time I have paid $10,272.00. However, this company charged me a late fee for November/2018 & is continuing to show that I am behind in payments. I called the customer service line and I requested the system be adjusted to reflect that I have paid ahead of schedule, I am not late and no late fee should ever be charged as long as I am ahead in my payments. The customer service rep stated that the software program used cannot accommodate my bi-monthly payments and so I will always be behind in payments and late fees will be charged to my account. I simply want my account to show in good standing since I pay ahead of the payment schedule & I do not want any late fees charged to my account as long as I keep my payments in this manner.
This company obtained my loan via Wells Fargo, crazy thing is I have other properties with Wells Fargo, but they chose my residential property (UUGGHH). I've been charged multiple times in the same month, because I have auto pay and it was time for another payment before I received a refund. My bank even asked me if they were a "Real Company". My homeowner's insurance went down in cost when I added a vehicle, I called SLS to inquire about an escrow analysis and was told, "No, we only do those in January..." However I just received an email (November) assimilating that due to the INCREASE in my homeowner's insurance I have a shortage in my escrow account! What??? This company is the WORST. I've never voiced my disdain like this but come on!!! They either need to do better or let the REAL companies do their jobs. It's only been 9 months with them and that's 9 months too long!
We're never offered a choice as to who will manage our mortgage but this is the first time I have been forced to deal with people who act worse than ruthless thieves. I've never been late on any payment, ever. My bills are all paid by automatic withdrawal. And yet, I have had to spend countless hours trying to reach someone who (all of them are unprofessional), refuses to even look at my account to confirm all payments were paid in full and paid on time. I am refinancing (even with higher interest rates) just to get away from this company before any more of my money is stolen.
This company is the worse. Speaking to customer service for anything outside of making a payment is a waste of time. Want to talk to anyone else in any other department. They do not take emails or phone calls, only snail mail. What year are we in again? I did not know this company had a mortgage on my house, when I did find out, they had some bogus mailing address on file that had nothing to do with me or anyone that I am related to in a totally different state. Absolutely ridiculous.
In spite of our attempt, SLS did not cooperate with us. They scheduled our house for foreclosure and gave us only 18 days notice by registered mail. We tried to reach out to the loan manager to postpone the auction and requested some time to short sale our house way before the letter came. But they said they need 37 days notice and refused. We even sent them everything by mail to prove we have a buyer ready and they did not cooperate at all. Crystal, this CS lady was so rude! This company should go to hell!!!
My loan was sold, or is at least managed by SLS and I had no say in the matter unfortunately. I've had a number of home loans over the years and have dealt with probably around 8-10 different mortgage companies who've managed my loans. SLS is, by far, the absolute worst, most disorganized, most inept, most mistake-making and most time-out-of-my-life company I've ever dealt with.
I've made a ton of extra principal payments and sent them to the exact address they told me to send extra principal payments to. Time after time, they applied my extra payments as regular mortgage payments, which of course, if I wasn't paying attention, would cause the payoff date of my loan to be stretched out for years longer than it should be. I was assured time and time again that a "note" was put in my account so it wouldn't happen and it kept happening, then, after months of errors, someone finally told me that any extra payment that is higher than the amount of a regular payment will NOT be applied to principal and "their system" will treat it as a regular payment... even though I made repeated calls and they put that "note" in the system.
Their "system" is so inept and their company is so disorganized that they simply do not have the ability to take an extra principal payment that is more than the regular payment and apply it to principal even if the monthly payment has already been made for that month. So, I just decided to send them more, smaller amounts of $1000 so their inept company would stop screwing me on my extra payments. The conspiracy theorist in me feels like it's a scam by them to draw out people's loans and to rack in more money. I'm sure some people don't watch the allocation of funds as closely as I do and SLS can get away with it... And furthermore, I have forced SLS to give me back all my escrow money and am no managing my escrow on my own because SLS said they need basically a slush fund of around $1,000 in case escrow payments are over the minimum from my payments.
When I found that out, I decided that SLS will not have the luxury of holding hostage $1,000 of my money so they can sleep at night and not worry about my escrow account being underfunded by $12 at the end of the year. Getting them to actually close the escrow and refund my money was a huge, painful ordeal as well, but I won't get into that.
Lastly, and this should be a red flag to anyone dealing with this company, just logging into my freaking account often takes two attempts to actually log in. I log in with id and pw and it takes me right back to the log in screen and sometimes asks me security questions before logging in. Even their stupid website isn't run/managed professionally.
This company is HORRIBLY run and it wouldn't surprise me if some of the stuff they're doing is grounds for a class action lawsuit. From looking over all these reviews on this site, I think it'd be great to get everyone together and file a class action lawsuit against SLS and to either shut them down or force them to do their job with some degree of professionalism. Anyone interested in suing them, just contact me at **. I normally wouldn't waste my time with something like that, but these guys are terrible and it appears, by far, I'm not the only person who feels this way.
This company is the utmost worst company to deal with customer service wise. They should be shut down. I did a modification in 2015 and have made my payments faithfully on time since then. All of a sudden I get a letter saying I am two months behind and I owe them $1131 or they are going to foreclose. I call my bank and they verify that the payments were made and I have the electronic transfer #s to prove it. I ask what happened to the payments and I am informed that they are applied to the "unapplied funds" bucket. I ask them why they say the payments were short and that my payment went up.
I said, "Gee that's funny because I got no letter explaining the payment increase and it's even more curious cause I did a fixed rate ten year modification with a fixed payment for the term." The customer service rep, the one that was actually helpful sent me the note. SO she says, "I will have a manager call you and straighten this out for you." The manager named Bridgette calls me and has no clue why she is calling, she does not have access to my note and when I get a little indignant she hangs up on me. These people are the worst and they need to be investigated for fraud and shady practices.
The absolutely worst company on the planet. My parents paid in their loan for years and after they both passed away, their estate owed more than the original loan. They make you think they’ll work with you but will string you along for months and in the end... Will take every penny they can.
I set up payments at the beginning of each month using my banks bill pay feature to ensure that all debts are paid on time. This holds true for SLS. However, SLS claims my account is 2 months delinquent. I show that checks were mailed on time by my bank to the same address as used all previous months. But, for some reason that last two payments have not cleared? Seems rather suspect.
The worst company in the world, they make me pay for their mistake but I hope someday they can find the way to go directly to Hell. Some of the associate are very professional, other extremely rude. Be ready for overcharge on late fees and the payments sent are taking another direction and then you pay for the mistake.
Specialized Loan Servicing has reported me as late payments when I was set up through their auto payment. This has brought my score down from 780 to low 600 costing me the opportunity to receive a VA loan for a new home. I have ALWAYS paid on time and maintained an excellent score. How do I get these late payments off. I have emailed and faxed with several calls. Please help if you know how to fix. This is ruining my credit and costing me thousands.
I've been in good standing with my mortgage with ASC for 13 years. SLS got my loan and they don't apply payments, they don't call you back, lied to my face, talk rude to me. I have documented 75 calls in 6 months. Each call says they will have someone call you back within 48 hours. I have yet to EVER receive a call from them. They are the WORST servicing company. I call to get information about my mortgage and they actually told me that they aren't the mortgage company they just service the loan. I decided I had to refinance with another company to get out from under them - I hadn't chosen them to begin with- they bought up a lot of Wells Fargo loans and mine happened to be one of them.
As I refinanced, they refused to issue a letter of good standing stating it would take 30 days to generate. I had to get a lawyer to call them on a conference call to get it. Then once the re-fi took place they claimed I only had $14.89 in escrow so that was the refund and they refuse to give me an accounting of it. My statement shows over $1500 in escrow.
They hadn't paid my taxes - which is over $2,000 and they were due in 3 months so they should've had at least $1500 which matched my statement. The insurance wasn't needed to be paid until Jan 2019 so they should've had 7 months of escrow payments towards that - around $500. My statement after the re-fi had all zeros on it but the year to date amounts in escrow were $1500 + $289 - HMMM. I am still fighting to get the escrow amount. Now, it's even more difficult to speak with them because they don't recognize my account number and you have to punch one in to reach a human.
Since they don't consider me a customer now, they block my access to their customer service (oh, customer care dept.). That is an important designation to know - it is NOT the customer assistance department. You have to be escalated from the customer care to the customer assistance dept. It is a ridiculous company with ridiculous policies that allow them to create fees, charge you which means you have to have 5 escalations to get the fees removed. They offered me a deferment and a forbearance after the hurricane, they called me and were very helpful and offered me this opportunity. I got the details - no fees, no negative credit reporting, no negative impact at all. I took advantage of it - got late fees every month on my statement, a property valuation fee, and they reported it to my credit.
I paid my mortgage payment in full and they didn't apply the payment because it didn't include the fees. It took 3 months to finally get the fees off. They claimed the property valuation fee is automatic as terms of my contract 13 years prior. When I pointed out the documentation of the forbearance stating no fees can be assessed, they said "But that is according to your original contract" and tried to keep that fee on there. It took me 3 months to finally get all the fees removed but now that I refinanced away from them it appears as if they tacked on the fees again in order to deplete my escrow account so they wouldn't have to pay. It's time to put this company out of business.
To begin, I have never paid a bill of any kind late... ever! SLS gives a recorded instruction to mail your tax bill to them (snail mail), so I did so. Several months later I discovered that they never paid my taxes, which made me incur penalties of over $300. Instead of paying my taxes, SLS did a review, claimed there were $0 of taxes to be paid for the year and refunded me $7200 instead of paying my taxes. Like that makes any sense? No taxes paid and no taxes due for the year... doesn’t pass the common sense test.
I made several phone calls and was told several different things by several different representatives. They argued with me for 2 weeks that there was even a bill due and one rep even told me that I had overpaid and would be getting a refund. TOTAL INCOMPETENCE! I finally submitted a letter with my tax bills attached. They eventually acknowledged the bill but refused to pay the penalty. They said I had no recourse and they wouldn’t pay. My mortgage was sold to them so I had choice but to use them. Don’t choose them if you have a choice!
Specialized Loan Servicing Company Information
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- Specialized Loan Servicing