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Specialized Loan Servicing
Overall Satisfaction Rating
1.05/5
  • 5 stars
    0
  • 4 stars
    0
  • 3 stars
    1
  • 2 stars
    1
  • 1 stars
    74
Based on 76 ratings submitted in the last year
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    Specialized Loan Servicing

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    327 Specialized Loan Servicing Consumer Reviews and Complaints

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    Page 1 Reviews 1 - 30
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 10, 2018

    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.

    2 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Oct. 5, 2018

    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.

    5 people found this review helpful
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    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 1, 2018

    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.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 29, 2018

    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.

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    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 24, 2018

    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!

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    4 people found this review helpful
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    Rated with 2 stars
    Verified Reviewer
    Original review: Sept. 18, 2018

    I work with SLS when my mortgage was a risk due to financial issues. The loan was sold to them by Wells Fargo and though SLS they seemed very helpful and kind during every phone call, I'm still highly disappointed about how they handled my credit. In order to not go into foreclosure and save my credit, I put my house up for sale. The house was on the market for 5 weeks until it got an offer. During that process I kept in touch with SLS and gave them WEEKLY updates. The house closed within 2 months yet they reported me to the credit agencies a week or 2 before the house closed. Had I not kept in touch, had I not answered their many calls, had I not called with weekly updates I would understand. This is so unacceptable.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 10, 2018

    I have tried to pay my mortgage payment at 7pm Pacific Time at the end of the month both online and by calling and have been unable to do so. Unless I pay the bogus fees they have added onto my account and the payment online won't accept it nor will the automated. I have to talk to an employee. They are in a different time Zone and I work. Hold times are very long and I only get an hour lunch. This company has cost me TONS of money because I think they want you to fail.

    6 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 4, 2018

    My Mortgage was sold to this company this year in 3/2018 after I was approved for a loan modification that was approved for hurricane victims. I was told I didn't have to worry about my mortgage account reporting late as it was something special the government was doing for those in the path of the 2017 Florida hurricane. I paid my 3 trial payments that was completed in June and told to wait for the loan mod paperwork not to worry. My credit report is shot, it's reporting I haven't made a payment since last year. Not only have they destroyed my credit but I'm getting foreclosure letters. It's now August and they sent my file to a foreclosure lawyer. I have called weekly and spent endless hours on the phone for months. I speak to supervisors, managers, etc. No one ever calls back even though they promise to. They are stealing homes and playing games with everyone. I'm not the only one, read the reviews all over the internet.

    13 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Sept. 1, 2018

    How this company stays in business with all the bad reviews is beyond me. If you are the type of person that pays your bills on-time and before they are due, don’t choose this company. If you want to pay online, you have no option to pay it before the due date. It can only be paid starting the exact day it’s due. From my experience the last 2 months, you're out of luck if the date falls on a Saturday or Sunday. You won’t be able to pay it online then either. I’ve tried at 3:30 am and at 5:45 this morning and when I attempt to pay it, it says my payment due is $0.00 therefore I’m not able to pay it. Last month it fell on a Sunday and the same thing happened. I wasn’t able to pay it until Monday morning. This has been like this the last 3 months.

    Before, you could call and pay over the phone with Western Union Fast Pay and not be charged. You can no longer do that. If you call and pay it over the phone, it’s $7.00 more. If you want to speak to someone to pay it, it’s $12.00 more. They claim that it’s a website problem and being worked on. 3 months and it's still not fixed? Looks like they want to get more than people’s mortgage payments.

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    12 people found this review helpful
    Rated with 1 star
    Original review: Aug. 16, 2018

    Wells Fargo transferred my loan to them on 3/16/2018. This mortgage company have a scheduled foreclosure date 9/4/2018. I contacted them for a reinstatement balance and Estella (Teller Code **) said it would take three business days to get that amount. She said I had to call on Monday to get the amount, she did not talk about written documentation to show reinstatement amount. SLS tell me to call Wells Fargo and Wells Fargo tell me to call them. Wells Fargo took a payment in March 14,2018 and sold it to SLS 3/16/2018. There is something criminal going on and the Federal Government need to shut them and Wells Fargo down. If Wells Fargo sold the loan to them in 3/2018 then why are they retroactively trying to collect payments before the transfer.

    I looked at the management team and some of them have worked for Wells Fargo. This has corruption all over it. No company can have this many complaints on the same issues and still be in business. Please let me know about the class action suit. I have had my home for 20 years and with God's grace I am not going to lose it to crooks that somehow made this legal to steal. I need them to give me the amount to reinstate my loan. I left a message with COO, Credit Risk Solutions- Debora Jeanne Aydelotte, other name Debora **. Time is of the essence, they are trying to steal my home and I need help.

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    8 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 7, 2018

    I had Mortgage loan from GMFS since October 2016 and I have been very happy with their services up until March 2018 when they hired SLS. Hell broke loose tight after SLS took over. My monthly payment increased whopping 33% (from $2400 to $3003) with absolutely no explanation. I called several times and spent hours to understand but no one could explain it to my satisfaction.

    Their attitude was to blame everything on previous service provider whom I am unable to contact since they don't service me anymore. My credit score tanked from 760 to 590 since they were unable to explain the break up of new payment and my bank declined such a steep rise in auto payment. I had spent hours and hours on phone but in vain and finally decided enough is enough and file a lawsuit. If you are having similar experience with this highly unprofessional and unethical company please drop me a note on **. I would connect you with my lawyer. I predict if they continue in this manner this company would be either bankrupt or go out of business pretty soon.

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    18 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 7, 2018

    The ink wasn't dry on the mortgage deal that Specialized Loan Servicing made with Wells Fargo when I began to receive unwarranted debt-collection phone calls from SLS. Despite numerous assurances from SLS that the problem would be corrected, and hours spent on the phone to both Wells Fargo and SLS over a six-month period, I have finally concluded that the only remedy available to address the situation is written correspondence.

    I ask for acknowledgement of this correspondence via U.S. Mail by July 27, and expect a timely response via U.S. Mail by August 31, as specified under RESPA, to resolve these issues: A stop to the incessant, creepy phone calls I have received night and day almost from the moment SLS purchased my mortgage, in which anonymous mumbling individuals give various vague reasons for calling, such as 'to discuss a personal business matter.' After tracing the mysterious phone calls back to an SLS number (800-306-6062), I realize the calls are designed to either frighten customers into thinking something is wrong with their account or lure them into some financial arrangement which will be to the advantage of SLS but almost certainly not in the best interests of the customer.

    There can be no other explanation - no legitimate business authorizes employees to make phone calls without identifying themselves and their company. Therefore, let me be clear: the only 'personal business matter' I have with SLS - against my will I might add - is my monthly mortgage payment. And after seeing how SLS operates, I will never, I repeat NEVER, 'discuss a personal business matter' of any other sort with an SLS representative. Furthermore, the unauthorized calls need to stop immediately. Likewise, I have also begun receiving unauthorized e-mails; again, let me be clear - I have never given permission for SLS to contact me through e-mail, and the e-mails need to stop immediately. I expect all communication to be in writing and to be made through the U.S. Postal Service.

    An end to the flood of bills and correspondence from SLS indicating that I am delinquent with payments, when I most assuredly am not. I have made my last 6 payments (February, March, April, May, June and July 2018) between the 1st and 16th of the month, as dictated by my agreement with Wells Fargo, which includes a 16-day grace period. February payment was made to Wells Fargo because I had no information about how to make payments to SLS, and because both Wells Fargo and SLS specifically stipulated that they would handle any overlap during the 60 days following purchase of my mortgage, without imposing late fees or other penalties. (See enclosed Wells Fargo confirmation document for February 2018 payment, as well as Wells Fargo and SLS communications guaranteeing both companies would handle overlap in loan payments during the transfer period.)

    From the Wells Fargo letter detailing the transfer of my mortgage: 'Payments received by Wells Fargo will be forwarded to the new servicer or returned to you requesting that you send it to the new servicer.' 'A loan payment received by your old servicer on or before its due date may not be treated by the new servicer as late, and a late fee may not be imposed on you.' 'Rest assured, this transfer does not affect any terms or conditions of your mortgage other than those directly related to the servicing of your loan, such as where you send your payments.'

    From the SLS letter: 'If you have already made your payment to your prior servicer... your prior servicer will forward the payment to Specialized Loan Servicing for processing. In addition, late fees will not be charged on payments that come due within the 60 days following the transfer date. In addition, we do not negatively report pay history to the credit reporting agencies within the 60 days following the transfer.' Despite repeated phone calls to both Wells Fargo and SLS, my February payment has not been credited to my account as it should have been. I have received the helpful advice that I should have my bank stop payment on the original transaction to Wells Fargo (at a cost of $33.00) or 'get Wells Fargo on the line with us now to straighten it out.' (This while I am at work, with 25 fifth-graders about to troop into my room).

    Coordinating the transfer of mortgage accounts and payments from Wells Fargo to SLS is not my responsibility, nor do I have any intention of making it my responsibility. The problem is between SLS and Wells Fargo, and I expect their representatives to do whatever is necessary to correct the problem. A commitment to observe the 16-day grace period I've always had with Wells Fargo. This grace period is part of the 'terms and conditions' SLS agreed to abide by when purchasing my mortgage, and I expect SLS to honor it.

    A dependable system to make payments, as well as a refund of all fees charged for paying by phone. SLS is apparently either unable to provide a dependable system for customers to make payments or is engaged in a ploy to force customers to pay phone fees - as I found out on July 16, 2018, when I was charged $12.50 to pay by phone because the online system could not locate my account by either loan number or social security number. (See enclosed screenshots - and please explain why I should have to pay $12.50 because the SLS system won't let me pay online.) Furthermore, past attempts to use the SLS online payment system - which frequently can't be accessed at all - were in effect blocked, since the system would not allow me to make payment without also making a February payment - the payment already made to Wells Fargo.

    Nor will I risk making payment by check, since even a cursory survey of the hundreds of thousands of complaints, bad reviews, and pending/settled lawsuits against SLS posted on the Web makes it painfully obvious that SLS routinely loses checks, conveniently 'finds' them after the customer has sent a second check, then charges late fees and neglects to send refunds or apply the payments properly. As a result of SLS's lack of a reliable payment avenue, I will be making all payments either online (if the system is ever accessible and displays accurate payment information for my account) or by phone with a customer service representative. I will never - I repeat never - make any payment by check, as it's obvious that SLS is either careless or fraudulent in handling customer checks.

    In addition, when attempting to make payments, I will not twist myself into a pretzel, spend hours on the phone waiting for a customer service representative, or incur bogus payment/late fees because I am unable to make payment in a timely manner due to SLS problems. SLS either has a reliable system for payment or it doesn't; I will be documenting all system failures, and will not be penalized when SLS's systems don't work. Nor will I put up with the nonsense that I should be charged a late fee because of the time SLS takes to process my payment: If I make payment by midnight on the due date, my payment has been paid on time, and anything else that occurs is NMP - Not My Problem.

    The understanding that I will not tolerate SLS's notorious penchant for instituting new methods of distributing mortgage payments that result in increased interest rates, missed payments, and bogus late fees; the company evidently also has had a practice of charging customers a fee for making regular payments, as well as using SLS's own errors to trigger what consumer lawyers call a 'rolling default,' with fees and charges snowballing until SLS has created a pretense for starting foreclosure proceedings. I've had firsthand evidence of this scheme several times over the last six months when, upon attempting to make payment via SLS.net, I received a pop-up Western Union window with the vague notification that 'there may be a fee associated with making this payment'; and in July, when an SLS customer service rep insisted on charging me $12.50 simply for making an on-time payment.

    Let me be clear: I expect a refund for all fees I was charged because I was forced to make payment by phone, and I don't expect to pay a fee in order to make my regular monthly mortgage payment. Clarification of SLS's conflicting and contradictory information about the amount of my monthly payment; as a result I will continue to pay the amount being billed by my old servicer unless and until SLS confirms the proper amount, along with a cogent explanation. An immediate correction to the negative information that has damaged my credit.

    SLS's malicious and reckless refusal to resolve the situation with Wells Fargo has apparently already resulted in damage to my credit rating, despite repeated assurances from SLS that they would address the problem. (Again, see the enclosed documentation of February 2018 payment made to Wells Fargo.) Damaging or ruining customer credit by reporting erroneous/disputed information to credit agencies is apparently a routine practice for SLS, as demonstrated by the filing of a class action suit (Gordon v. Specialized Loan Servicing LLC, November 6, 2017, Case No. § 5:17-CV-01196-M).

    If this problem is not rectified within the next thirty (30) days, I will be taking swift legal action. It appears that SLS is a collection agency masquerading as a mortgage servicer, with a pattern and practice of deliberately disrupting customer mortgage payments and engaging in deception in order to (legally or illegally) force customers into foreclosure. It's amazing that the simple process of making a monthly mortgage payment has become so complicated and fraught with jeopardy, but it's not surprising, given the overwhelming body of evidence that suggests SLS continually engages in fraudulent and unethical business practices.

    SLS is either the most incompetent or most fraudulent company that I've ever had the misfortune to encounter. Having already spent hours on a problem that should have been easily resolved in a matter of minutes, I do not intend to spend any more time on this matter. I expect SLS to take care of the issues listed above within the next thirty (30) days; otherwise I will be taking legal action.

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    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 6, 2018

    I have never been so frustrated and angry with a mortgage company until I've had to deal with SLS. Like most mortgage loans, mine was sold off to SLS shortly after I bought my home in June 2017. I've had trouble with them from the get go, however this past week took the prize. On 7/25 I called customer service as I was having trouble making my payment for August on their website. Somehow they entered $2.00 as my mortgage payment (clearly incorrect) and I couldn't override it. I spoke with a woman in CS and she walked through it with me while I was on my computer. She also said she would put a ticket in to get rid of the $2.00 payment. I was to go on vacation 8/1 and wanted all my payments covered for the month before I left.

    While I was on my trip I kept checking my bank account and the withdrawal was not showing. On 8/3 I called the company again, while on vacation, and was disconnected twice, hung up on the third call, placed on hold indefinitely the fourth time, and finally the fifth call I got through to someone and pleaded with her not to transfer me, put me on hold, or hang up on me. I told her that I needed her to check on my mortgage payment and she told me there was never one received. She said that the request to remove the $2.00 payment was made but not the mortgage payment for August.

    I asked her to please take my payment over the phone and provide a new confirmation number. She started rattling off fees, aside from my mortgage payment, and I really thought I would come unglued! I asked to speak to a manager but of course there was none available. Finally, she said she would waive the fees and took my payment. The people that work for this place are rude, inept, and don't seem to have a clue about their business. If I had the choice to go with another mortgage company I would do it in a minute!

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    11 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 6, 2018

    Wow! I thought I was the only one going through the scam with this company. This company stop accepting my payments in 2017 stating that I missed the deadline. I kept telling the reps that I did not miss the deadline. Why wasn't they accepting my payment. They told me because I missed several payments I was going into foreclosure. I kept asking them to send me the payment list so I can see where I missed payments they never sent it. I had to do a modification loan and I was pissed because I was not behind and I knew I was being scammed and no one would help me. I do not like this company. They just went up on my mortgage stating I didn't have any escrow. I need the lawsuit info I am definitely going to sign up.

    17 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 5, 2018

    Our mortgage was sold to SLS in October 2017. We've had nothing but horrible customer service! We've consistently asked them to provide us with statements, which has taken nearly a year. We finally received our first statement from them for the August payment due. There are fees that do not apply to us; however, they've been charging us these fees since they acquired our loan. We've had no choice, but to pay the additional amounts every month, as we certainly don't want to go into default.

    The other huge issue is their website. We chose not to set up auto pay with them simply because we had no idea how much they would debit our bank account. We have successfully made one online payment, but most months, we've had to pay via phone and incur a $25.00 fee. The website usually doesn't work. This mortgage company is scamming people and it has to be illegal how they operate. My husband and I plan to file a lawsuit against them. We're absolutely over the top, disgusted with SLS! After reading other reviews on here, we can see that we're not alone and that it's not just an oversight or a fluke that our loan has been terribly mismanaged by SLS.

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    19 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 3, 2018

    I reached out to SLS to have them release a title for a loan that is no longer valid. They asked me to send them the paperwork on the title. I sent hard copies overnight to the address they provide. I followed up with them a week later and they stated they never received them even though I had a signature showing someone signed for it. I went ahead and faxed the documents to the number I was proved seven times and they still said they never received them. As the last results, I called them and sat on hold for a hour. This is not customer service. They need to remove servicing from their name. My recommendation, if your loan get transferred to SLS, get it refinanced ASAP.

    11 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 3, 2018

    I sold my home in April of 2018 and still have not received my escrow refund. They keep telling me the check is in the mail, but it never arrives. Every time I call they say they will take care of it and it will arrive in 14 days. Four months later, the check has not arrived. Do not trust these bad actors.

    10 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 31, 2018

    I have made multiple phone calls with questions about payments. When calling 1 out of 5 customer service people you talk to sounds like they may know what they’re talking about. Most of the time you get a yes and no answer. This is a mortgage company. They should be helping anyone figuring out how to help save your home when in a financial issue. It doesn't take a rocket scientist to give good knowledge and service.

    This company can also talk to you every day and yet send out someone to your home to make sure you’re still living there, money wasted? Really when you are trying to work saving your home why would you move. Then SLS sends you paperwork to save your mortgage and I sent it out multiple times. They kept calling saying multiple pages were missing, so I started faxing. They still said pages were missing. Beyond frustrating when I have proof how many sheets were Faxed. All I have to say DO NOT USE THIS MORTGage COMPANY. Besides they move from state to state. How does paperwork does not get lost.

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    11 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 21, 2018

    Can't believe this company can even be in business. Been paying a loan on auto draft for 12 years and just received a letter that I have to "certify my funds" from now on. They canceled my auto draft payment. My July payment did not go through, I now have late fees and have to go to my bank and pay for a certified check. Called and spoke with 2 people that could have easily rectified the mistake to no avail. This was not due to late payments or missing payments. I now have to get a certified check and pay my bill. Most unprofessional company I have ever dealt with - disgusting behavior and absolutely no way to treat customers. It appears from multiple online reviews that this is a problem with this company. Stay Away!

    8 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: July 17, 2018

    Had mortgage from Ditech, then sold to SLS. Never missed payment or late. Have not received one billing statement from them yet. This is since Nov. 2017. Spoke to them numerous times, even recorded them cause they were recording me. I've had the money and still do. Think this is a big scam on them. Just got notice to respond within 30 days. Been responding last 9 months. This is on Ditech too for dealing with a faulty company. They should be shut down.

    19 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: July 3, 2018

    CMC Funding is the WORST mortgage company I've ever dealt with!! Stay away from this mortgage company!!! I can't log onto their website to pay my mortgage. I've used multiple devices and the issue is definitely on their end. I just got off the phone with their customer service and their solution is to pay the telephone payment fee. As soon as the interest rates get down to my current rate, I am going to run from this company!!! Do yourself a favor and NEVER do business with this company. Oh yeah, and they won't allow me to pay extra towards the mortgage. This company is a disgrace.

    14 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 3, 2018

    When my mother passed away her house was mortgaged through Chase. I had my name added to the deed and Chase added me to the mortgage. Two months later they sold the loan to Specialized Loan Servicing, who promptly removed my name from the mortgage and refused to add me back. No matter, I said, "I will make a year of payments then refinance." There was only $40K left on the mortgage and it would be paid off in six years.

    After making the payments on time every month SLS suddenly stopped accepting them after three months. The payments were returned a few days after I made them and since my name wasn’t on the loan SLS refused to tell me why (or talk to me about any financial matters). I spoke to an attorney who made some calls and was told SLS wanted to foreclose on the house and get the full loan balance. There are no laws preventing them from doing that. I would be left with nothing and evicted. I tried to refinance but nobody would let me since it appeared as if I hadn’t made payments for a year.

    Since my name was on the deed my only choice was to sell the house out from under them. In a year's time I lost my mother, my sister, and my mother’s home - the latter of which was all on SLS. They didn’t have to act the way they did. There was no regulation stating they had to decline my payments. But they did and it was based solely on greed. I’m now living in a small apartment that costs double what my mortgage payment was. The home my mother had for twenty years has passed on to someone else. SLS not only has no morals, they have zero compassion for anyone. All they want is money and they will do whatever it takes to get it fast and quick, all while disregarding their customers. After reading these reviews I should have gone a different route. I should have spoken to the Attorney General. It’s too late for me but I write this as a warning to anyone who deals with SLS in the future. They are an awful company.

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    11 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: June 27, 2018

    SLS only recently began sending me mortgage payment notices after more than 2 years of doing business with me. When I was first assigned to this company, I Googled them and found that they had an abysmal reputation. I learned that payments were registered late when they were not, so for the past 2 years, I have sent my payments to them early (so they would arrive before the 1st of the following month), Certified, Return Receipt. When I would check on-line, it looked like the previous month's payment was due (even though it had been made). I thought their system was at fault.

    When I finally began receiving statements 2 months ago, I found that I was being charged several hundred dollars in late fees! I had never missed a loan payment and was always early. After several calls, I finally learned that a payment in April, 2017 for the May payment had been misapplied. The check, according to my bank, was cashed April 26 and was applied to principal, not to the monthly payment for May, 2017. Since then, I have - according to their system - been late every month and late fees were assessed. The agent I talked to then promised that I would get a letter showing the correction. Never happened!! The next agent, Lashanna, took my June payment over the phone (regular payment) and promised to call me back the next day with the resolution of the problem. Never happened again!!

    This week, I called from work, where I couldn't access my bank information. I had some of the letters from SLS, but not my bank records. The agent, Inisha, told me that the April 26, 2017 check had been for $2424.57 instead of my regular monthly payment of $2444.09. (When I returned home and checked my records, I found that the April 26 payment was the correct amount.) Inisha insisted that the payment could not be "fixed" now and that I would have to pay the back payment by the middle of July, 2018. Plus, I am going to be on the hook for late fees.

    Not only did they misapply my payment, but they have caused me to have a tax problem now, since my mortgage tax deduction was several thousand dollars less than it should have been. Geraldine in Mount Holly, NJ sent in some excellent advice to contact the Attorney General of Colorado. She said that the Licence/Registration information wasn't available. This is not true. I have found license numbers for each state. I also found that the company is owned by ComputerShare (Australian company). ComputerShare has offices in NYC at 1290 Avenue of the Americas, 9th Floor, NYC, NY 10104. Phone number: 212-805-7100. There are almost 400 Better Business Bureau complaints and almost 800 complaints with the CPFB.

    I suggest that any of you who have these problems contact your own State Attorney General. I am attaching the list of states with the license/registration numbers to this. Since this is a banking institution, it IS regulated by the state banking commission in every state. It is past time for this company to be brought into compliance with the laws of this country.

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    17 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 21, 2018

    On June 1st I paid my mortgage to SLS online as I usually do but paid a minimal amount thinking I was at another account site. I immediately realized what I had done and went back to the SLS site and paid an amount that would make it so I had paid a full mortgage amount. When I looked at my banking account SLS on June 4, 2018 had taken the larger amount that I paid (to balance out the first payment) and then also took a full mortgage payment out of my account.

    When I called and asked how did they get into my account to take the mortgage payment (I have signed no authorization for access to my account) they stated I had made the payment - which is not so; this I can prove. They immediately offered to return the larger payment (the payment I made to balance out the first and make a full payment); they never mentioned the first payment I made and it did not come out of my account. The representative I spoke to said the payment would be mailed out June 11.

    I called back when I realized I had not gotten a confirmation number or reference number for the reimbursement of my money only to be told by the SLS representative (Libby) that they do not give confirmation numbers or reference numbers for tracking interactions (this I consider a problem and a way to not acknowledge issues). What this representative did give me was the "teller" number of the first person I spoke to - number ** and information that the order was placed June 4, 2018. But this representative gave me June 12 (not 11 like the first person said) for the return of my money. June 12, 2018 not trusting the integrity of this company and especially after finding there were 782 complaints against you at the Consumer Protection Finance Bureau, I called to verify the check had been mailed out. Now I was told by a representative (Clarence) the check would not be mailed until June 15.

    This transaction of theirs has cost me a ck fee because it caused an overdraft of my account. June 16, 2018 I contacted them again to ensure my money was in the mail. This time I spoke to a representative (Bella) who said the check was mailed out June 8, 2018 and if I didn't receive it soon I would probably get it in July. Mind you they accessed my bank account illegally and withdrew money from my account without authorization. I immediately asked for the supervisor (Loretta) who told me the check was mailed out June 15, 2018 from Colorado. So obviously there is also a lack of communication within the company which is horrible for a company that is supposed to be responsible for handling the transactions of ones mortgage.

    June 21, 2018 and I still have not received my money. Called the company and spoke with a representative (Louis) and was told by him the system indicated a refund was??? (Did not get the term he used but let him know the term did not mean anything to me). He stated he did not see me getting my check after July!!! This is unacceptable that this company can steal from my account and nonchalantly decide to take their time in reimbursing me.

    I have filed a complaint with the Consumers Financial Protection Bureau (https://www.consumerfinance.gov/) which is the agency that oversees these companies. They've had 4,320 complaints against. To see these complaints, go to https://www.consumerfinance.gov/data-research/consumer-complaints/. On the page go to Data and Research and then to Consumer Complaint Database. Once on the page that opens go to View Complaint Data in Socrata. When that page opens put Specialized Loan Servicing in the search bar and see all the complaints against them.

    I have also decided to file a complaint with the Attorney General of Colorado Colorado Department of Law Consumer Protection Section, UCCC. Ralph L. Carr Colorado Judicial Center 1300 Broadway, 6th Floor Denver, CO 80203. uccc@coag.gov. Also, if you go to this website (http://www.nmlsconsumeraccess.org/) you will find additional information on them. One thing I found is the agent:

    Resident/Registered Agent for Service of Process. The agent(s) listed below have been designated to accept the delivery of legal documents, such as summons, complaints, subpoenas, and orders, on behalf of the company. This contact information is for the delivery of legal documents only. Complaints against the company should be addressed directly to the company itself or to its supervising regulator(s).

    License/Registration #: None Original Issue Date: 04/20/2011. Regulator: Colorado License/Registration Name: Mortgage Company Registration. Resident/Registered Agent. Company: UNITED AGENT GROUP INC. Name: Not provided. Title: Registered Agent. Address: **. Phone: **. Fax: Not provided. I suggest everyone file a complaint, submit numerous emails to them and keep the documentation and be willing to join a class action suit. When a company has this little disregard for the mortgages and finances of people they don't deserve to be in business.

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    18 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 15, 2018

    Ten years ago my son took a 2nd Mortgage out on our original family home. The loan was with Country Wide. He ran into financial trouble and could not repay the $225,000 2nd loan. He filed bankruptcy, but the lien on the house remained. Country Wide sold the 2nd to BofA, they sold it to another lender, who in turn sold it to SLS. After 10 years we finally found out that SLS was holding the second and contacted them to refinance both the 1st which is $404,000 (current and held by BofA) and clear the second. SLS said there was a principal balance of $225,000 and interest of $269,000. They led us to believe they would settle for the $225,000. We got loan approval for 80% of the home value which was enough to refinance the first, give them the $225,00, and cover closing cost.

    Then the games began. No, the investors would accept the $225,000 since the house was valued at $800,000. They want $365,000. Which we cannot get a loan of $769,000 on a $800,000 house. So they are threatening to start foreclosure proceedings. We have been going back and forth with them, with missed phone calls, claims of not receiving emails we have sent, our investors, blah blah blah. They are determined to take the house. They knew a month ago they were not going to settle for the $225,000. They plan to start foreclosure. In the meantime they keep recommending we sell it and give them all of the proceeds. That's a stupid suggestion. Worst loan company ever. After reading the reviews I hope there is a Class action lawsuit against this company.

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    19 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 15, 2018

    I feel lost and need help. I have continuously sent documents for regarding modification. Nationstar sold to them. Received letter today. They denied a repayment plan and want to short sell or deed in lieu! I am trying to save my home after being unemployed twice. I a making the mortgage payment every month now and I am in bankruptcy. They stated I said this was not my primary residence but I never did and have live in my home for 15 years... Anybody have suggestions? I cry myself to sleep with this company and have a 16 yr old daughter and 89 yr old veteran dad they are trying to put on the street! I have sent them every month a payment and have faxed, emailed, copied and mailed everything they want!!!! Do they really want my home when I can pay? Please you have input on this horrible company contact me!

    30 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 14, 2018

    I have reached out to the CEO and COO 7 times! No response! Terrible company that doesn't care about their customers! Supervisors promise call back and never call back! Changed my mortgage terms without advising me! The worst company ever!

    19 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 13, 2018

    Loan transferred & receiving calls like I owe! Horrible! Stay away from this finance company! Mortgage was refinanced with Loan Depot. I called 4 times. Everything ok, said "oh, it's ok, it must be old". NOT to be trusted. Out to ruin your credit & collect! Unbelievable! I filed with BBB!

    18 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 7, 2018

    Problem description: March 26, 2018 I received a letter from this law firm stating that they are representing their client Specialized Loan Servicing of an inflated debt that was charged off by the original creditor ($41,847.37). The letter also stated that I have 30 days to dispute the validity of the debt. On April 2, 2018, I mailed a certified debt validation letter to both parties that was received by this law firm on April 5, 2018 @ 11:03am EST.

    Shapiro & DeNardo responded stating that they have forwarded my request to the client in which no one addressed my concerns in a timely manner (30 Days) under the Fair Debt Collection Practicing Act (i.e. 15 U.S.C.1692(g) 809 (b) and the Pennsylvania Fair Credit Extension and Uniformity Act (i.e. 73 P.S. 2270.1, et seq). After 30 days (5/5/2018) of no response of a detailed debt validation from Shapiro & DeNardo, LLC I forwarded on May 31, 2018 another certified letter for not responding to my debt validation request and an explanation of proof that the Pennsylvania Statute of Limitations has not expired.

    Desired Outcome: 1. Proof that the Pennsylvania Statute of Limitations has not already expired. 2. Request that Specialized Loan Servicing, LLC (client) & Shapiro & DeNardo, LLC (Representing Law Firm) honor my complaint for Debt Validation (April 2, 2018) that they have failed to respond within the 30 day time period allowed under the Fair Debt Collection Practices Act. 3. In addition, I desire that both companies honor and respond to my complaint with the Consumer Financial Protection Bureau & Federal Trade Commission. Purpose of this post is to inform all other consumers to report concerns with Attorney General Office, CFPB, FTC, BBB and beyond...I am not an attorney or legal advisor, just a concerned consumer about companies like this who are allowed to conduct unfair, unjust and deceiving practices with no regard to (FDCPA) federal & state laws that regulate.

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    20 people found this review helpful
    Rated with 3 stars
    Verified Reviewer
    Original review: June 4, 2018

    They brought the loan during bankruptcy and put us in a 40 year loan that we will die before it gets paid. Would not work with us to help fix this. Also received funds from the court and cannot show where the money went to.

    12 people found this review helpful
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    Specialized Loan Servicing Company Information

    Company Name:
    Specialized Loan Servicing
    Website:
    www.sls.net
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