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Specialized Loan Servicing
Overall Satisfaction Rating
1.05/5
  • 5 stars
    0
  • 4 stars
    0
  • 3 stars
    2
  • 2 stars
    1
  • 1 stars
    79
Based on 82 ratings submitted in the last year
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Specialized Loan Servicing

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Specialized Loan Servicing Reviews

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Rated with 1 star
Verified Reviewer
Original review: Nov. 15, 2019

I had a 30 year home loan with Wells Fargo for 18 years, almost paid off. Wells Fargo sold the loan to Specialized Loan Services, (SLS). After only 7 months SLS has made errors EVERY month with our payments, changing payment, deducting unusual amounts, losing payments. I report them to the State of California Consumer Board, SLS corrected the errors, corrected the amount, now ONE month after all this was fixed SLS is back in full force screwing up the account. Wells Fargo should be held responsible for selling our loan to such a horrible home loan firm! P.S. One star is way too much!

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 11, 2019

This mortgage is horrible, stay away from this company. My husband lost his job last year 2018 after 15 years and we contacted them immediately for help. They send a package and requested all our expenses and income. Long story short we were never late in a payment, but by the time all the paperwork went thru we were 3 months behind and with unemployment benefits (which the max is $988 every two weeks). Even if your salary was $250,000 a year that’s the max that a person can collect for ONLY 6 months, they turned around and lower the mortgage payment by $80 and put a $70,000 balloon on our loan.... there customer service is the worst i I have ever encountered with. They don’t care about there customers. If anyone has any suggestions how I can presume this case please give me your input it will be greatly appreciated. TIA.

4 people found this review helpful
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Rated with 1 star
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Verified Reviewer
Original review: Nov. 5, 2019

SLS Continuous Harassment with increased interest rates 10%, short sale, foreclosure, AND REFUSE TO QUALIFY US FOR ANY AFFORDABLE MODIFICATION. I just received documents from SLS stating that I am not qualified for any modifications. SLS said that I am only qualified for short sale or foreclosure. Have tried to get an affordable modification or settle for a reasonable payoff (by getting a personal loan) for the past 8 years after Chase did a modification on the first. SLS continue to refuse all my request and threaten to foreclose. With my severe (PSVT) a heart condition triggered by stress, I am limited to what I can do. My husband is the main source of income and we are doing our best to keep up with our increasing mortgage payment on the first.

The equity line of $186,000.00 originally with National City who sold it to PNC who sold it to SLS. SLS has now doubled this to $364,522.12 with 10% interest charge. I have been trying to work out a settlement with SLS but they refused to accept my offer on several attempts. Instead they came up with their own structured payment of $650.00 monthly on an increased balance of $364,522.12. I am in no condition or financially capable to make such payment monthly. If I do not agree to their terms they will foreclosed on my property. Miss Christina who tells me to sell the property if I cannot afford to pay the amount of $205,860.88 that due right now. Mr. ** the supervisor took over the conversation on the phone, He said if I cannot pay $257,524.79 by 5/19/19, I will be reviewed for foreclosure.

I beg them to please communicate with me through email, because the phone calls are too stressful and had increased my heart rate to 186. But He refused and said they are not allowed to do that and continued to harass with denial, foreclosure and short sale. My husband and I have worked very hard to give our three children a comfortable home to live and have invested all our hard working savings in building our home. We would like to keep our home and get a affordable modification.

In order to do so, SLS would have to differed or forgive some of the loan balance and give us a very low interest rate with an affordable payment of no more than $150.00 monthly SLS have created a structured payment that is beyond my ability to pay. They responses are robotic and pay no attention to my insolvency, health issues and continue to harass with demands to pay and foreclosure There are thousands of complaints against this company. They are engaging in lots of unfair acts and harassment, code violations. Please investigate this company. Thank you very much.

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7 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 22, 2019

Trying to put request to remove the escrow account, Over 2 hours on the phone just waiting to get clear answer and they keep transferring me from back & forth between Escrow department & Insurance, in the end I ask to speak with the Supervisor and then they put me on hold forever. So still I have to make time to call and waste another couple hours for simple request. I will not recommend at all.

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 16, 2019

I have had a loan for 13 years. Borrowed 30000.00 on a 20 year loan. Have sent in extra principal payments and as of 10/2019 still owe 24000.00. I have been in the auto finance business for over 42 years and have never experienced a finance company that has been this bad to deal with.

12 people found this review helpful
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Rated with 1 star
Verified Reviewer
Original review: Oct. 16, 2019

Their failure to accurately pay my property taxes and adjust my impound account last March, 2019 has resulted in my mortgage payment being increased by 25%! No accountability, & no acknowledgement of their error. As I was speaking to Customer Service about my past Property Tax discrepancies from last year and looking at their New, adjusted increased Property Tax installments AND looking at my actual Property Tax Bill I informed them that the amount they are protecting for the next two installments is less than what my actual bill from my County’s Tax Assessor states—I am told, “Well, that is what your County sent us (!) This really is no more complicated that keeping a checkbook register yet apparently for SLS it is." When I asked the supervisor who they are regulated by or who audits them - I was told, “We are not a bank or a Mortgage Company” (again - !) So my question is, “WHO’S MINDING THE STORE?”

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 14, 2019

This company is held by Wells Fargo whom has had many fraudulent mortgage loan practices reported through the years. We sent final payment per statement along with enough to cover additional 9.00 they claimed we owed. Though they processed and received payment they supposedly put in suspension and continue to accrue late fees and interest. I spoke with Tempe AZ office twice and was promised it was resolved. It has not been. I am also filing complaints with the BBB Consumer Financial Protection Bureau and HUD.

12 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 9, 2019

My loan was transferred to SLS last month and they've been horrible to deal with. I didn't even know about the change till I tried making my payment for September. I contacted them to immediately make that payment but they said I also owed for August. I told them I'd made that payment and was given an email address to send proof. Even after proving I'd made my payment, I got calls daily reminding me to make my payment. It's now month 2 and the collection calls have started up for the October payment.

I told them I'd be making my payment before the 15th and ask them not to call me again. I was told any payment not made by the 1st of the month is considered late, and they are within their rights to call me until my payment is made. They also said that I would need to send them a written request not to call me. I really think it's ridiculous for them to start harassing you for not making your payment by the 15th, when it's technically not considered late until after the 15th. I truly wish I had the ability to refinance my loan so that I would not have to deal with this company. If you have a choice do not go with Specialized Loan Servicing.

Given how eager they are to start with the collection calls, you think it'd be fairly easy to make your payment online. That's not the case. I tried multiple times to make my payment at their website and the system is not functional at all. Every time I put in my mortgage information the website clears it out and then tells me I need to put in the information. How stupid is that? I'm telling you right now it would be in your best interest to go to with a completely different company if you have the choice.

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15 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 8, 2019

I'm a new customer.... HORRIBLE EXPERIENCE trying to get a refund for an accidental double payment last month.... They promised the check would be to me within 5-days, it's now been almost TWO weeks. Their phone system is a nightmare!! You CANNOT get customer services, let alone a supervisor! I HIGHLY recommend you go somewhere else for a loan!! I discovered that many other customers have had nightmare experiences with this company.

9 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 8, 2019

My loan from sprout mortgage was moved over to SLS after a brief period, Let me just say that this loan servicer has been an absolutely hellish experience. Long story short, I had my attorney send them a letter with an invoice for my time being on hold and being passed around to their various departments where nobody can answer anything about anything. The clerk I spoke to in one department slipped up and told me that there were 150 pages of excel submissions for "software" errors that caused a late fee or erroneous credit reporting.

My late fees were waived, and as a direct result of the litigation threat, they have transferred me to another servicer. I filed a complaint with the recording of the clerk to the attorney general, hopefully this company realizes that when you are thieving late fees from people trying to pay their mortgages due to errors that are intentionally caused, they are at some point going to be slapped with a Wells Fargo style class action and a massive fine from the feds. Shame on the management and Toby Wells (Ceo) for allowing this nonsense to continue.

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12 people found this review helpful
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Specialized Loan Servicing Company Information

Company Name:
Specialized Loan Servicing
Country:
United States
Website:
www.computershareloanservices.com
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