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Specialized Loan Servicing purchased my HELOC from Key Bank of Knoxville, TN and has consistently lowered my interest rate on my interest only HELOC. Looking forward to Athens lower interest from the recent .5 points decrease.
Our mortgage was sold to SLS from WF who did not want to work with us while we were in foreclosure. Had to file chap 13 and although cost me 6000k SLS just gave us a modification after a 3 month trial mod.. Always keep in contact with them, be truthful and at least my experience I still provide a roof over my family's head. Thank you SLS.
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BOA sold my mortgage to SLS....and I haven't had any issues. When I was notified that bank of america sold my mortgage, I did some reading about SLS. All the reviews were beyond terrible. I admit. I was a bit worried. It's been 2 months, and everything has gone fine. I did get a paper saying my escrow account was short. They showed their math. My options were to send them $250 +/-, or I could add it into my mortgage payment for the next year (maybe longer).
Website seems fine. I just make my payments online with a couple clicks. I can see all the info for my account. I like it. Maybe it was easier because I am current. I think it was 60 days (maybe 90) after the mortgage was sold. They don't charge late fees. It took almost a month to get my account info. No big deal, as the money wasn't burning a hole in my pocket yet. Overall a good experience so far. I think this might be the first review I have ever written, but I felt like I had to. If this saves one person from sweating it out like I did when my mortgage switched, it was worth it.
Company transferred from ASC To SLS, After 3 yrs in they started telling me I was missing a payment! Sent 5 yrs of payment receipts and they couldn’t find missing payment!! To satisfy them, I made a extra payment. Now they want $1800.00 in late fees for which they don’t even know when I missed payment. Total THIEVERY!! Also after making extra payment my new balance didn’t include late fee. Every rep will give a different answer. STAY AWAY.
My previous loan was sold to my current holder, I had never heard of them before. So far, experiences has not been good since taking over loan almost 1 year ago. I am currently submitting a refinancing application and how this process will result in a positive experience going forward.
My mortgage was recently transferred to CMC funding and SLS. After trying to set up recurring payments online, I have been trying to reach someone at this company by phone, online chat and email but was disconnected each time after being told that no one is available to respond. This is the second time that my loan has been transferred, but the previous change was extremely easy. I simply do not understand why this company makes it so complicated, all I am trying to do is set up recurring payments and you would think that the company would want to make this easy to ensure that the loan is paid in a timely manner. Unless their goal is to maximize late fees. If your core business is buying up loans, this process should be made easy to ensure timely collections.
Wow this is the worst company I've ever dealt with. In short I will list the issues.
2. If you make a payment in advance, they hold on to it for several weeks before processing it (Unallocated funds).
3. The payment they sent to my insurance company (at the end of year 1) out of the impound account "bounced". The insurance company then had to bill me directly. I took months and several phone calls to straighten out. Even then they did not reimburse me. They just kept the money in the impound account.
4. I refinanced after that just to get rid of them. They immediately lock you out of your account details (ie impound account balances and tax info). Still waiting to get my money back.
I refinanced with another company and it closed on 6/26. CMC's automated system says the payment was received 6/29. It is now 8/13, and after 10 phone calls, I still haven't gotten the refund for my prepaid July mortgage payment (not realizing the refi closing would happen so quickly), and escrow. They owe me $3,920. Paid off my mortgage to CMC with a refinance to another company on 6/29/20. Before the closing, I paid my July mortgage to CMC on thinking the refi would take weeks, and I didn't want to be late. CMCs phone system indicates they received and applied pay off payment on 6/29/20 before the July mortgage was due. They verbally claim they received it on 7/8 and deducted $272 in PMI for the month of July.
I've called them 7 times since 6/26. As of 8/10 they have yet to refund my escrow and the full mortgage payment for July. They told me verbally they mailed $3,648.86 (escrow and July payment) which I have not received. They siad they kept $272 in PMI for the month of July. They refuse to refund that money. I don't understand how they can charge and keep PMI when they no longer hold the mortgage. I've received no correspondence or refunds from them as of today, 8/10/20. They owe me $3,920 which includes the prepaid mortgage ($2,250) and escrow balance ($1,670).
Specialized Loan spends all of its' time on the phone, communicating that none of its' staff and senior managers have no idea how the company works nor how to resolve any issue. The ineptitude is shocking and definitely unprofessional and treats mortgagees with numbing rudeness.
We are going to start legal proceedings against your company. You have cashed our check for our house payment on June 1st and claim that you don't have it. We have given you proof that you cashed it, spent numerous hours on the phone with multiple incompetent agents and now you have applied our July payment to June. You are threatening to ruin our credit and payment history with your mismanaged processes. We are going to sue you and we just posted along with many others, a negative Better Business Bureau review. Several people have been scammed out of their house payments by your company. SLS is the most incompetent company we have ever worked with. I will start a campaign against your company and write negative reviews wherever I can. You messed with the wrong family.
Specialized Loan Servicing Company Information
- Company Name:
- Specialized Loan Servicing
- United States
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