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Specialized Loan Servicing
Overall Satisfaction Rating
1.04/5
  • 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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    338 Specialized Loan Servicing Consumer Reviews and Complaints

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

    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...

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    Rated with 1 star
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    Verified Reviewer
    Original review: Dec. 9, 2018

    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!!!!

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    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 5, 2018

    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.

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    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 2, 2018

    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.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Nov. 16, 2018

    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!

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

    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.

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

    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.

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

    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!!!

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

    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.

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

    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.

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    13 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 23, 2018

    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.

    11 people found this review helpful
    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.

    16 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.

    16 people found this review helpful
    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.

    19 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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    16 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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    14 people found this review helpful
    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.

    13 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.

    16 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.

    26 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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    20 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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    21 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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    28 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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    19 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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    21 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.

    28 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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    26 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.

    19 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.

    15 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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    17 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!

    15 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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