About Specialized Loan Servicing
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I don't know how to describe this mortgage company, I been several months trying to solve my problem, after forbearance plan, it's been a nightmare, I'm not allowed to make payments, they want me to pay in full, no payment arrangement, then apply for mortgage assistance, it's been months and no one call me to know what's going on with my application, I call them, nobody knows anything, different answers from different tellers. I'm so frustrated and afraid to lose my home. If somebody out there can help me or give me advise cause this is getting out of control. I have never been in this situation before.
I mortgage loan was recently transferred. Unfortunately, the recipient of my loan was SLS. I've been with them for two weeks and I'm not feeling good about their business practices. After seeing their reviews, I'm wondering why the investor who owns my loan chose this company to service my loan. I'm getting several different messages from different employees at SLS. One being, your home has an "intent to foreclose" message on my account. Another telling me, "No that's not the case." Once I find that I, I immediately call to straighten out the matter with their modification dept. I have a screenshot of the phone call I made to that department and I was on hold from 2:15 pm until 10 pm when the phone just hung up. I'm going to try to take my loan elsewhere, mainly to get away from SLS. These people are horrible. #STAYAWAYFROMSLS!
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SLS keeps buying my mortgage, and every time they buy it, I refinance to get away from them. The company is horrible. Their customer service is non-existent, they constantly screw up the most basic tasks and they never, ever have the loan information right. And if you need to change it, it's usually impossible on the website but that won't stop their auto attendant from telling you go to the website instead of calling when you inevitably give up trying to accomplish anything on the website and call them. Oh and your hold time will be 110+ minutes, and they have no option for callback or chat, because, and this is the important part about SLS, they don't care about you. You can find out everything you need to know about how bad SLS is by looking at the ratings here, and the fact that they haven't even bothered to claim their profile. Why? Cause they don't care.
If I could have given 0 stars I would have. Our mortgage was sold to this company. After two years they required flood insurance in an area where it's not federally required. We obtained said insurance, effective the date of our receiving notice. They then charged us for time already passed..charging the same amount for 1 month of coverage, that we paid for a year. We paid off the mortgage to avoid ever dealing with them again. They added fees beyond the pay off amount. They were rude, heartless and difficult to deal with. I will add an addendum to any future mortgage, that it not be sold to SLS, Wells Fargo or any subsidiary of Wells Fargo.
(A shorter letter was submitted to the BBB.) My parents had a home equity loan that was paid off in February 2020; the $0 balance loan was sold to SLS and we've been receiving bills ever since. I mistakenly assumed that a loan with no balance would have been closed out? My parents have both since passed and I was still receiving letters threatening collection action. I called SLS to explain they were billing us insurance for a $0 balance loan. They could not speak with me because I was not on the loan paperwork; I was told to submit documents. On 9/27/21, via USPS, I sent them the documents they requested (Death certificates, Small Estate Affidavit, certified copy of my parents Will and property deed).
On 11/1/21, I called about the status; they said that they showed no documents on file. I was told to now email the docs, which I promptly did. I should receive a callback once the paperwork had been reviewed. I allowed them a few days to go over said docs and called again on 11/10/21. Again, I was told they showed no documents on file. The Rep was very helpful and apologetic and unable to contact a Supervisor but she would "escalate the situation." Again, I should receive a call within 24-48 hours.
On 11/15/21, I called and AGAIN no paperwork on file. The Rep spoke with a Supervisor and I was given an email address I assume was not really to be shared with customers. While on the phone, I emailed the documents TWICE and along with a third TEST email; I received a response that emails went through. (Yay me!) Rep: "I should hear something back today..." Having heard nothing, my 11/18/21 call ended with a Rep unable to contact a Supervisor but another promise to hear something that day...
My first 11/19/21 call, I was hung up on. My second call, I was put on hold off and on for several minutes. The Rep came back on stating she didn't see my name in the Will; I had to give her the page and exact paragraph number. What's funny (well, not really) is that the NOTARIZED SEA I submitted has my name as the Executor/Trustee all over the place. Finally, I can close this ... noooope! Now, they need a letter MAILED with copy of my driver's license to close the account; this shall be sent Certified and hope I to be done. I don't have confidence this will be the end.
We have gone through an unprecedented family tragedy house fire. The house has no mortgage and we never heard of this group. This group out of nowhere says they are now the lien holders of the house. How in God’s name can a group from nowhere with terrible reviews do such a crime against humanity. Praying our probate attorney brings justice to this unlawful group.
We are trying to get out of forbearance with SLS caused by Covid. We have tried for over 6 months with their coaching and this experience has defined the word "INSANITY". No one calls you back, No knows what needs to be done. No one knows what needs to be in the document package. We never talked to the person that was supposedly our contact. "They are busy" so you get someone new every time.
Here is the kicker. They are not suppose to report late payments or any infraction while in forbearance. We paid more than our mortgage every month yet we were hit with 3 late payments. It is impossible for this to happen but we are dealing with SLS!!! Now we have to fight them over these credit rating hits as we are trying to escape their Mortgage System. Can you say insanity? And to end this, we paid off the forbearance in an attempt to escape them. No such luck. This company should be investigate by the Federal Exchange Commission or other governing body and be liquidated. Thanks for your time and good luck. You are going to need it.
If you have a choice, run in another direction! Delay in updating info, lost payments, erroneous "collection" calls. Reps & supervisors have no decision making ability. Follow up call promises do not occur.
If at all possible never, never obtain a mortgage or HELOC loan from this sham of a company. Terrible customer service. Next to impossible to get an answer. Absolutely the worst and least helpful company I have ever dealt with. There are dozens of reputable companies out there. Run, don't walk away from this one.
This company is TERRIBLE!!!!! I would NOT even give this SLS ONE star!! If you are thinking of using this company for your financial needs, DON'T!!! Run as fast and as far as you can from SLS!!!! Here is my horror story: I have been with SLS since Jan. 1, 2021 when my State Farm home equity loan account was sold to SLS. My account debt with SLS was PAID in FULL to a ZERO balance in Jan. 2021 but, these people could not get their accounting correct for some reason for months. SLS started sending me letters of threat for non payment, with threats of turning me over to collection and strikes against my credit score. I made many multiple phone calls to get it all straighten out but, talking to these totally inept so-called customer support reps was a complete joke and a waste of time!!!
Communication is a absolute nightmare with this company!!! You can never talk to the same person twice. Finally I had to write a letter and mail it to the office in Greenwood Village CO about what was THEIR screw up. Weeks later I get a poor-excuse of a letter stating they got their screw up fix and all is well. Let me tell you, from all the phone calls, emails and the letters I have had to do, to get SLS to fix their mistake, "all is NOT well".
I have had it with this lousy company and I have only dealt with them since the first of the year!! So today (7/20/2021) I called SLS to terminate my account with them. To get this done I now have to jump thru more hoops with sending more emails and pay these jokers $75 dollars!! Yes! That's right. I have to pay them money to get the privileged of Not doing business with SLS!!! So for those of you that might read this review, I suggest to you my friends, DO NOT do business with SLS and if you currently have an account with them, find another lender that is local and get them to take over your account. Specialized Loan Servicing is NOT a company you want to deal with! Period!!
Specialized Loan Servicing Company Information
- Company Name:
- Specialized Loan Servicing
- United States
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