About Specialized Loan Servicing
A link has directed you to this review. Its location on this page may change next time you visit.
- 3,828,503 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
This ties back from Wells Fargo who sold my husband's account to this fraudulent group. They are a third party debt collection agency. They do not give loans nor do they refinance. They lied to us and did not tell us that they were debt collectors until we already started making payments which is trickery and that is illegal! Their story keeps changing. I have received many letters from them claiming that they use our payments to help other neighbors. I guess that’s why we never built any equity after 15 years of paying. They have no records and are unorganized unprofessionals. This group is operating independently outside of the central bank. Everyone says that the central bank is greedy. But why would a central bank sell a mortgage to a third party group? Does anyone ever think to ask these questions? They breached it. Or someone dirty and shady in Wells Fargo is working a little side business fraud.
The president of SLS’s name happens to be Toby Wells only I don’t think he even exists! I think it’s a made up name! Hence Tony Wells of Wells Fargo. The photos of an image these people use to represent this company are photoshopped because these people would never show their real faces in public with so many mad at them. It’s all fake! They’re just hackers. The part that is even more unfair is that these practices don’t care that your home is falling apart and needs repairs done desperately. They just want to keep charging you. Eating up your finances. It’s a stupid system. So either way, you lose your home whether it be foreclose or condemned.
I will not pay this group another dime. They stopped sending statements and all the sudden they sent one and their number figures are way off. I will not cooperate with them nor comply with them anymore. I do not care about their cheap threats. They already sent out a group of troublemakers to my area and fired guns off to try to intimidate people out from their homes and no one cared about that. No police came. If no one cares about bullying or harassment like this, then they shouldn’t care that people stop paying for a home that is falling apart. I will not pay this group nor any other mortgage company again because I feel that they stole our equity and they don’t help anyone but their self. We will fix our own home and we are keeping it! I will not comply with any threats!
We paid for this house out of our own pockets. There was never a loan given to begin with and SLS most certainly cannot provide the original note. My husband and I have all the original documents, title to the house and deed. All the original paperwork. Fraud from the beginning but this group takes the cake. I’m tired of the death threats that were suggested to me even when I was paying. I’m tired of breaches, trolling, identity theft, fraud, gang stalking, being watched over my shoulder every time I shop online when it’s none of anyone's business how we choose to spend our money! I’m sick of hackers! If you're a hacker, why don’t you hack in favor of the victims for once and destroy fraud companies like SLS? Oh Karma and Justice! Where are you? We need change.
They bought my home equity loan, then stuck me with a balloon payment provision. When I tried to continue just paying a normal amount instead of the last 20% all at once, they went through a charade procedure with massive privacy infringement and back and forth, then rejected the claim. I am glad that I wasted my time wasting their time, because I want their business to fail. That's how a just world works. If an SLS employee is reading this, please know that your employment is temporary and you work for an employer that will fail, because that's what happens to companies like yours. Get out now, or at least admit to yourself that you are also a terrible human being, and enjoy working for a terrible company.
Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.
They will continue charge you after your loan has been transferred to another provider. Then make it impossible to contact them for help or support because you are no longer a customer (technically, even though they continue to take your money). This is not a stand-up company, this should be illegal.
I am so thankful to refinance my home and get away from Specialized Loan Servicing. They prey on hardworking citizens. I am sure the executives of this company are reaping the benefits of all of money they have robbed from countless customers.
My HELOC was sold and service was transferred from Cenlar, where I never had an issue, to SLS that has done nothing right yet. The first thing they did was double bill me for interest including a month before they took over the own that had already been paid to Cenlar. This scam works when people don't audit their statements. The interest doubled and the principal went almost to zero so many may not even notice since the total monthly payment remains the same. They also added a "Past Due" fee of $785. I sent them copies of my statements showing there had never been any $785 fee.
This was 4 months ago and when I called today for the third time they said they just received my dispute yesterday. I had to cancel automatic payments so they'd stop stealing $785 from my checking account. That raised my interest rate 0.25% so now I'm overpaying interest until this is resolved. These are not some simple mistakes, this is their business strategy to bilk customers. I believe this is embezzlement and I'll be filing a criminal complaint with my state attorney general.
If you are searching for a mortgage company DO NOT USE THIS COMPANY. They are indescribable. Their customer service is non-existent. They do not respond to account inquiries. They do not return phone calls or written requests. They do not care about the customers. They are only out for their bottom line and your family home does not matter to them. When you do call you are transferred multiple times and given different answers by each representative -- nobody knows the correct answers! I would not recommend to my worst enemy. They restructure loans without homeowners consent or knowledge causing negative impacts on your credit score -- I personally experienced. I truly believe they are a participant in illegal and unfair lending practices and should not be in business. They do not deserve even 1 star. On my final call I was lucky enough to speak with Caitlyn and she was friendly, as well as knowledgeable.
I paid off my mortgage in March of 2021. I have come to find out in March of 2022 when I am selling my home that this company NEVER filed a release of lien with the city of Suffolk, Va. So I am under contract and the title will not clear. I have made multiple phone calls and get a different story each time. I am now forced to hire an attorney to sue SLS in order to get them to get my recorded certificate of satisfaction so I may sell my home. I would avoid this company like the plague. They are not trustworthy and their customer service is terrible.
This company is a hot mess. Every month trying to make the payment is a joke. I make my payment and they split it all up as into categories of interest, principal, late fees, escrow. 1) Where am I getting a late fee from if even their records show no late payments. 2) I should not have any escrow fee on my heloc, where did they get that from? My payment amount is never the same on statements and they have it set up each month as though I am late and adding late fees. I've been in the real estate field for 21 years and from what I am seeing from this company seems to be a predatory service provider with suspicious intent, as I see reviews with loan modifications that result in foreclosures. I'll be paying this loan off.
My experience with SLS has been a nightmare! I have been trying to get refunded for charges on a home I sold in 2018. It is not possible to be transferred to a supervisor. I have spent so much time on hold- transferred and then disconnected. I now am getting an attorney to resolve the issue of being charged escrow and insurance on a home that closed on Jan. 31, 2018. Run as fast as you can from this poorly run and unethical company!
Specialized Loan Servicing (SLS) took over servicing my loan in December of 2021. When I went to pay my mortgage, there was a fee totaling over $700. I filed a complaint, and the charge was removed. When I went to pay my most recent statement, there was another service past due charge of $25!!!! When I contacted them to find out what the charge was for, I was informed that it was a charge to me for a “drive by” inspection of my residence to confirm that the home was occupied. BTW, how could they confirm the home is occupied when they never knocked on my door? Unbelievable! It’s not the $25 fee, but the principle of them spending my money on their behalf! Unacceptable! Can’t wait for SLS sells their right to service my loan to another company!
Specialized Loan Servicing Company Information
- Company Name:
- Specialized Loan Servicing
- United States
You’re signed up
We’ll start sending you the news you need delivered straight to you. We value your privacy. Unsubscribe easily.