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Specialized Loan Servicing
Overall Satisfaction Rating
1.11/5
  • 5 stars
    0
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    0
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    2
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    2
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    75
Based on 79 ratings submitted in the last year
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Specialized Loan Servicing

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387 Specialized Loan Servicing Consumer Reviews

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Rated with 1 star
Verified Reviewer
Original review: July 1, 2019

So I have a mortgage through GMFS. In order to pay online you have to go through SLS. Their website sucks. You can’t pay with a debit card online and when you call to the automated system it automatically hangs up on you. Almost every time I call to speak to someone they say they are busy and will call back. Maybe they will. Maybe they won’t.

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 29, 2019

After Wells Fargo completley screwed up our refinance that took almost a year to straighten out they sold us to their little brother SLS, I say this because these people are as slimy if not worse than Wells, you get unexplained escrow charges, and no one will explain any of it and they will not send you any documentation that makes sense. My advice is to run from them as I am and get an attorney.

10 people found this review helpful
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Rated with 1 star
Verified Reviewer
Original review: June 17, 2019

This company SLS is nothing short of extortion. We were sold to SLS by Wells Fargo and was immediately sent a notice of intent to foreclose on our property. We contacted them and was told we needed to pay $4056.57. We paid this amount in full. We were told on recorded call that we were completely paid in full and current and was given confirmation # for that payment. Then the following week we paid June's payment on May 10, 2019. Today June 17, 2019 we called to make July's payment and now we are being told we More late charges that SLS stated, that there late charges for inspections and home review and property appraisals. None of this was even brought on recorded conversations at the time we paid and were told the account was current and next payment was due July 1 2019 and that was on May 10 2019. This company is crooked and should be investigated for creative billing. Sincerely, under Al Capone's shadow.

16 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: June 10, 2019

Homeowner for many years and my loan has been with different lenders over 15 years. Specialized Loan Servicing put an additional forced placed insurance on home when it was already covered. It took 8 months and countless calls emails, faxes to get this straightened out. They basically tried to extort money from me and place home in foreclosure all while holding payments stating they weren't enough with the added extra insurance. All was basically rectified to a degree but they tried to snake extra expenses on loan. Trying to buy new home and this still creeps up.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 22, 2019

I have been a homeowner for decades and have held mortgages with several different companies. Sure, there are issues, but nothing compares to the nightmare that is SLS. Without explanation, I get an modified monthly bill, raising our monthly mortgage payment from $1300.00 to a horrifying $2400.00. When we called, we were told that there was a shortage in our property taxes for two years! They gave us 30 days to pay $24,000.00! That amount, according to SLS was the two years past shortage and the year ahead that had to be paid in full! After I finished choking, I called them. Each explanation I was given was different from the previous. One fact was clear, I had no alternative but to pay the total ASAP, or they could apply the shortage to our monthly mortgage for the next 5 years for a whopping $5000.00 per month. Insanity. Whoever is out there that has the stomach for a class action against these people, I am in.

36 people found this review helpful
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Rated with 3 stars
Verified Reviewer
Original review: May 17, 2019

Our home loan was moved to SLS, as such we have found their customer service to be fine. Though, they do not have an email address for communication which is surprising. It will be good to have an email address for communication, so that important though not so urgent matters can be communicated. Overall, we are happy with their customer service though.

2 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: May 16, 2019

I have to be fair and conduct a reasonable approach to talk about my experience with SLS. In the coming years after purchasing my condo in the Era of predatory lending during the age of Obama as president. The term predatory lending and results almost led to the collapse of the American financial industry, once again. There are laws that protected Americans against predatory lending, but during the Clinton and Bush era. Obama was left to clean up the mess, and big banks were bailed out except for the very people whose left as victims of predatory lending. Just imagine, over a million families was left homeless a year or monthly even. I believe this has not only endangered Americans but has caused homelessness on the streets. There is a direct link but once again you need to do your research. I won't give you that answer because I believe knowledge should be sought and digested.

My loan has transferred several times in the hands of debt collections. I had to protect my home and loan by chapter 7. I will first say that it's my disgust that the financial agencies was let loose by an era of presidents who signed off on it. You should do your own history check, because then you'll know for yourselves. Anyhow, I hired an attorney to settle all my debts. My attorney says that the SLS people is unmistakably unorganized, the "left hand and doesn't know what the right hand is doing"? Or, this is deliberate to confuse the process for any parties who demand services to help settle their loans.

However, I will get to the facts now. I've been current on my first loan, but I have to face my second loan. I received a letter from SLS who took over my second loan as stated that my loan is in arrears and that they will foreclose my home in 30 days. The letter was sent 05/10/2019. A tactic many of them know is illegal when accompanied by an attorney, but they try anyways. I don't care anymore for I know it's a bad deal. However, I'm ready to face the music. I'm not afraid for a toxic loan such as mine. A predatory loan was sealed in its fate. I encourage you to write to your congressman and senator. To help the future which is our children so that they are not affected again by this every again. Sincerely, BraveHeart

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4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 13, 2019

I have a late payment and when I sent two cashier checks to cover for the previous and the current month, they only applied one payment into the statement and continue charge me a late fee for the other month because of non mortgage payment. But I have a proof of the USPS Priority Mail signature confirmation showing one of their employees signed receive the envelope (I put two cashier checks in 2 small envelope and placed in one big USPS envelope). I don't know somehow why or somehow they lost one of my cashier checks. I contacted them and they transfer me around between their departments, because loan payment department not working together with accounting department and they don't who have my checks.

I can't believe why the big Fannie Mae hiring this company to handle their mortgage payment. I called my bank and they said the only way is they will cancel that check and give me a new one to send to them but they need a fax from SLS to confirm they did not have a check and will not cash it. But SLS have never send any fax or any communicate to my bank. They lost one of my checks and don't know where it is. Finally, I contacted Fannie Mae after find out they are my lender (SLS don't tell me). Fannie Mae said they will investigate and after a few months my problem resolved. Now I am waiting for a good time to refinance my home and get rid of SLS, a very bad management company I never seen before.

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

We have sent in multiple requests to have our mortgage insurance canceled and each time they tell me they haven’t received a fax even though I have 2 confirmation sheets. They are completely unhelpful when we call, telling us to send another fax. This last time we sent a fax, email, and mailed in the request documentation and they STILL are telling us they don’t have it. I’m ready to take legal action against them as they now owe us 5 months of back pay for the insurance we’ve paid.

12 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: May 3, 2019

Last November Direct Mortgage sold my Mortgage to Specialized Loan Servicing. I was told there was not enough money in Escrow and that my payment had to increase to cover the shortfall, my Escrow payment went from $296 a month up to $495 per month, so what they are saying is my Insurance and Taxes have increased $2388 dollars in 2019 over what they were in 2018, I called them about it and it was like talking to Dumb and Dumber. No clue what I was saying and didn't really care either.

Currently there is about $1800 dollars in Escrow. For the year there will be $5940 dollars collected to pay about 2000 dollars taxes in November and $1300 dollars for insurance in December. That gives them $2640 dollars extra over and above what is needed for Tax and Insurance, this is nothing short of extortion on the largest scale. These people should be investigated and shut down and thrown in jail for extortion and Blackmail. "Don't pay it and we will take your house!"

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14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 3, 2019

I was contacted by SLS that I owed over $7700 because they were opening up an escrow account for me because of unpaid County Taxes. I contacted them to confirm that I had already paid my County taxes. They indicated that Core Logic sent them a report indicating that I owed over $5038 in delinquent taxes. My County taxes are only $4500. I contacted them again and indicated that the taxes were lower than they had accessed and at that time they indicated that they had already paid the $5038 to the County. Because of my claim of already paying the taxes, they asked the County to refund the monies they had paid.

The County returned all but $10.00 and now they have applied that to my next mortgage payment. I contacted them again and asked them to remove the $10 from my bill since it is the County that owes them the money. They indicated that I should call the County and get them to refund the $10 to them. What sense does that make? I continue my honest inquiry.

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6 people found this review helpful
Rated with 3 stars
Verified Reviewer
Original review: May 3, 2019

To Whom IT May Concern: I have contacted with Specialized Loan Servicing LLC for many times in the past years, to request for a loan modification or/and any solutions but all have been denied at those times (when my home was underwater/under market value). Today The Value is rising up, No more underwater situation then SPS come back to put a lien against my home and force me to FORECLOSURE. My second mortgage has been invalided debt during the past seven years. Now I have received a Debt Validation Notice and a foreclosed letter from Specialized Loan Servicing LLC. I was so shocked and frustrated at this point. No ideas where should I begin and who should I work with? Best Regards, Kenneth **.

17 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: April 16, 2019

This company should be brought down. They are fraudulent and force people into foreclosure. My loan was transferred to them a few years back and once I was notified I was told I was behind in payments and needed to bring my mortgage current plus late fees. I was unable to pay 3 months at that time so they started the foreclosure process. They never once sent me a bill because they claimed I had a prior bankruptcy that was in 2006. They said they were not allowed to contact me because of the bankruptcy.

They however managed to force me into some homeowner insurance saying mine wasn’t sufficient and they proceeded to bill me on it. I made several attempts to get a modification and time after time I was told, “Sorry we didn’t receive this doc or that doc.” I’m NOT sure how the feds have NOT shut them down as they operate under different names constantly. It’s a racketeer and they need to be stopped. My house was just sold back to their bank and I need help.

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22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 15, 2019

Our mortgage loan was sold to SLS recently. I have been sending in extra payments marked apply to principal routinely to try and pay this off. Each extra payment I have sent in has been applied towards the monthly payment and not the principle balance of the loan. I tried for days to send a fax and the line was busy. I call and ask that they remedy the errors they created and am assured it will be changed. Time and time again. I look today to see if the extra payment I sent last week that was to be applied towards principal amount was actually applied towards principal. AGAIN. It was not. My next payment is due in October according to their website. Of course they want you to set up automatic payments when the last thing in the world I would want to do is give them electronic access to my bank account. These people are not ethical in their behaviors and should be investigated by the Consumer Fraud Division.

18 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 15, 2019

My accounts were transferred from BOA to SLS after 12 years. It has been a colossal waste of time. Have spent 3 months in a row and an hour or two each time in this process and they still can't get it right. First they go from not drafting my account to drafting odd amounts. The customer service today abysmal. They are clear on they don't know what happened, want you to know you are on a recorded line and heaven help you if you have two accounts with them. The real angst here is that you can be transferred to them by another lender, who gets paid for the transfer and you are left at the mercy of this type of company. Terrible doesn't even begin to describe.

15 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: April 12, 2019

Loan was transferred here in March of 2019. We decided to pay off this loan when I called to get the address to send a certified check (which they require to pay off loan or send a wire) the man gave me the address to the wrong place. A week went by and I checked my online account expecting to see my loan had been paid in full only to see it had not.

I called and talked to a "Madison" and asked about my payment and that's when she told me that was the address to wire the money in not to send a check. She then told me that she sees no notes in my file that says I talked to anyone for them to give me the wrong address and that they would have to pull the call logs. I said the reason for my call is to ask if my payment went thru and if that is the wrong address will it be received and credited to the account. She then told me it wasn't her problem and that I should call my bank where I got the certified check from and cancel the check . I even called back and talked to someone else who assured me the check wouldn't go thru if they received it at the address I was given.

I went back to my band cancelled the check and sent a wire straight to specialized loan servicing so it would go thru the same day. Two days later I receive a call from my bank stating that specialized loan servicing had received the certified check and cashed it and I was to call them and cancel the wire transfer. As I called them all they could tell me was the kian has been paid off and she could put a note in the file that customer is requesting a refund on the wire transfer which of course will take two business days. She couldn't tell me any information of which payment had went thru or if both payment were received. She rambled on about the different addresses that take payments (which clearly I no longer needed) and didn't have any answers to any questions I asked.

After reading all the reviews on here I am scared I won't get my payment back. This company is the worst I've ever dealt with. We had the other mortgage company for 13 years and never had one problem. DO NOT GET A LOAN THRU THIS COMPANY. They are rude, unprofessional and not knowledgeable about their own policies which seen to change with every phone call.

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16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 10, 2019

My loan was transferred the end of last year to Specialized Loan Servicing. I started to realize my mortgage payment go up $60 more per month. When I finally got to the bottom of it, it showed I was negative my escrow account and they were adding that to my monthly. I was never notified about it and when I called to ask the representative could not tell why this was. She couldn't even see my escrow analysis and wanted to know what I wanted her to tell me. Then she blamed my wife saying, "Maybe she didn't tell you anything" and that's not their fault. I was heated. She states, "I'm going to transfer you to a customer service department." Here I thought I was already talking to that department. Then she hangs up on me. I just cant believe this company is still in business.

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

My loan was transferred to Specialized Loan Servicing by Wells Fargo last year. I just received a notice that my escrow account was short by almost $4,000.00 and that if I did not pay this shortage my monthly payments would increase by almost $500.00. I couldn't believe it, how could this be. I noticed that on the statement there was an almost $3,000.00 charge for something called a subdivision maintenance fee. (Which turned out to be property taxes as well.) I called SLS, the rep that I spoke with did not know what these charges were. I called my county tax department and was told that My property taxes had been paid in full in December, 2018. They were always paid twice a year half in December and the other half in June. For some reason they paid the taxes in full for the whole year.

I'm having a very difficult time with SLS to get them to take the additional charges of almost $4,000.00 off of my escrow account. I was told that if I don't pay the almost $4,000.00 by May that it would be added to my monthly mortgage payments that would total an almost $500.00 increase in my monthly payments. I have automatic payments deducted from my account, but in no way am I able to pay an additional almost $500.00 per month. Talking with them has not been good, they are rude and not willing to help. I need legal help to resolve this matter before May. If anyone has any suggestions please respond to this review. Thank you, Julia.

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13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 2, 2019

My home loan was sold to a new company and SLS started servicing my loan payments. They have been impossible to deal with from day one. They are always rude on the phone, and make everything much more difficult than necessary. I needed to get away from them, so I refinanced my loan, and my new lender paid off the loan last week. I was so excited to be free of SLS, until, lo and behold, SLS pulled an automatic debit off my savings account for $9,400 after the loan was completely paid off! I couldn't believe it. I called them, and the told me that it is MY RESPONSIBILITY to tell them to no longer take money from my account, even after the loan had been paid off! Who in their right mind would expect to continue to be charged loan payments AFTER the loan was paid off?? Where I come from that is call robbery!

I called to complain, and they were so rude and made it seem like my fault, and made no attempt to help resolve the problem. I'm so frustrated I can barely control myself. This is a huge amount of money and they're just leaving me in a lurch. Now they're telling me it is going to be at least 14 days before they return the money to me. SLS is an absolute garbage company and I hope they go out of business because they are preying on innocent people with devious tactics.

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15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 29, 2019

SLS has a second on my home after IndyMac sold it to them. I had a son pass and the real estate market crash around the same time, I was a realtor. I had no other choice after a few years of struggling financially but to file bankruptcy, prior to bankruptcy I had stopped making payments to SLS. A few years after the bankruptcy I started getting letters from SLS, and I'd call them to see how I could resolve any issues, and each time I was told that I didn't need to do anything, also that I didn't need to call each time I received a letter, that the letter was just something they had to send out.

Well, now after about 3 years, I get a letter stating that my home is in foreclosure! What? I call again, and the person I spoke with was so rude. Just told me I had to pay $11,000. to bring my loan up to good standing, now how did they come up with that number? I asked to speak with a supervisor and I was told that I couldn't. So a few days later I call again, this time I got someone that gave me the number to a supervisor. He, however, was the rudest person that I had talked to yet. He said I had to pay $11,000. to bring my loan current, I asked about a loan modification and he basically said good luck.

I'm almost 62 and I'm no longer selling real estate. I have a good job and asked if there was some way they could work with me. I don't want to lose my home. He told me that I had a 50/50 chance for a modification or any assistance. Now none of this is showing up on my credit report and a lender friend of mine says he can't find SLS on any documents attached to my home. My friend is pulling preliminary report because he doesn't think SLS is legit. Nothing in county records as to a lean on my property. I'll wait and see what is discovered on the pre-lim. This company and most the the people I've encountered are a bunch of bullies!! How can they be in business and treat people the way that they do. What a shame.

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15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 21, 2019

I have had issues with SLS ever since changing BANKS the end of October! My Bills are all autodebited. I have called so many times, I have lost count!! Sometimes talking with the Escalation department or a supervisor, always being assured all is in order, I have followed their explicit instructions, setting up autodebiting, sometimes with them on the phone, or calling after setting up to verify! Always being assured all is in order. Then I get a statement that the payment was not applied, with a late fee! I call and am transferred, sometimes two and three times! Finally it is fixed, only to happen again :( I changed from monthly to Bi-weekly Jan. 1st. I made an extra payment in December!! There was a glitch with this!

They reported a delinquent payment to the credit monitoring agency And it was their fault the payment was not applied. I have asked them to remove it to maintain my excellent credit and because it is not the truth! Now they have increased my escrow $500 plus dollars. I HAVE LOST ALL FAITH IN THIS COMPANY AND WOULD RECOMMEND YOU RUN AS FAST AS YOU CAN AWAY FROM THEM! I do not think they are honest and the customer is definitely not number one??? I am so sorry to have to report this, but I do not want another customer to have to endure what I have endured!??? It is extreme! I believe their employees are poorly trained and some of them incompetent.

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19 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 19, 2019

Send your bill to them certified. Certified mail tracks where your bill goes and all the dates. Yes you can send certified to P.O. Boxes. The carrier will deliver the bill to the front desk for someone to sign for and they will put a slip inside the P.O. Box so that whoever is picking up their mail will see the slip. There’s no way for them to avoid it. If they don’t sign for it, this is documented proof recorded by the postal service you can use in court that they are turning down your payment. It will show that you kept your end of the bargain by sending in your payment and it’s all dated. You can sign up online postal and print certified labels and also buy the certified envelopes or you can just go to the post office. Either way, you get a tracking number.

23 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 18, 2019

My prior Mortgage Company was Wells Fargo Mortgage. No reason was given why Wells Fargo transferred my loan balance of 20,000 to Specialized loans in November of 2017. I paid off my mortgage in full August 2018. Till this day I have been calling, writing about getting my lien(mortgage) discharged with my local Plymouth County of deeds. I need the loan lifted. I am selling my home and need the county to show nothing is owed. The First 3 months SLS tried to say they sent it electronically and it's done.

The Plymouth county of deeds has no indication anything had come. Now, for the last 4 months they say the deeds office is rejecting their power of attorney signature and they dont know why. I been told though SLS owns my loan and they have everything correct on the lien discharge document. I have been inquiring every two weeks what they are doing to solve this problem. They have no answers except working on it. I have spoke to supervisors, managers and they can't give me any information. I am trying to sell my home and it has been now 7 months now and they can't get my lien discharged. This company is a place you dont want to do your business. They have no idea on how to follow thru with the legal process of discharging loans.

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14 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: March 18, 2019

I am so tired of these clowns! I was notified that Specialized Loan Servicing had purchased the remaining portion of my house loan six months ago and they have not once been able to provide a correct bill, figure out their own auto payment system, figure out how to pay the correct amount of property taxes. To top it off every time you call someone there it is like they are hearing about what they do for a living for the first time. If you have any choice, run!

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

On February 11 2019 we received a letter from Wells Fargo informing us that our home loan was being transferred to SLS on March 01 2019. I am no lover of WF. We mailed a payment to SLS and they cashed the check (posted with our bank). Today, March 16 2019 we receive a letter in the mail from SLS saying we owe 2 payments on April 01 2019 and the statement does not show any payments posted. This statement is dated March 08 and the check posted March 07. I called SLS, the first call was a hang up after being on hold for 4 minutes.

The second call I spoke with Oscar ID #**and was informed these letters are auto-generated. I informed Oscar that they cashed the check on the 7th so why would a letter showing no payment be auto-generated on the 8th. I also informed Oscar that I wanted a new letter mailed to my home showing that the payment was made and I also wanted it put into our file. Oscar informed me that that is not usually done. I informed Oscar that I wanted to speak with a supervisor or manager. Oscar was going to transfer me, but you know - I got hung up on.

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

SLS "service" vs root canal? Not sure which to choose... At least the dentist offers anesthesia. I've had 7 mortgages over the past 30 years and I have NEVER experienced the blend of incompetence and apathy that SLS agents deal out. The lack of professional pride and inattention to detail are manifested even in their automated systems. Today I spent 30 minutes navigating their IVR and waiting on hold to make a payment only to be disconnected (which was bittersweet since it meant I didn't have to speak to them). We have had escrow accounts miscalculated, payments misapplied, submitted documents misplaced, the list goes on and on and on. If your mortgage company uses SLS for servicing I recommend finding a different mortgage company.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 13, 2019

My loan was recently transferred to SLS from Wells Fargo after many years. I have now made 2 payments on the new loan and still my mortgage is not being reported to the credit bureau. When my Wells Fargo loan showed as paid off, my credit score dropped 14 points, so I have been patiently waiting for the new company to report my mortgage and would expect my credit score to return to its previous number. I've simply called in to find out when I can expect this mortgage to be reported to the credit bureau - I am in the market for a new loan and my credit score is critical to interest rate I will receive. I've been on hold for 1:01:40 at the time I am writing this review. This is beyond unacceptable and totally ridiculous. Unfortunately, I have no choice...I'm stuck with these idiots. POOR SERVICE!!!

12 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: March 12, 2019

I paid off my loan with SLS out of a refi. The payoff demand stated I had only paid interest through Oct. 2018. However, I have their own account statement and document stating interest was paid through Nov. 2018. The escrow company assured me I would get a refund so I went ahead and closed the refi loan or my rate lock would have expired. I have been shorted by $1725. I have emailed their customer service 6 times in the past month with all of the documents, spoken to their customer service several times, and tried to fax my documents but both of their fax numbers are busy 24/7. To date I only got a letter stating they are researching this in response to a claim I filed with consumerfinance.gov which is a federal agency. I also filed a claim with the CO Attorney general but just got back a boilerplate response saying thanks for the info. I have never seen a worse company in 40 years of business.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 11, 2019

My prior loan servicer transferred my loan unexpectedly to SLS. I've had this loan 14 years and have never had a late payment. I tried to schedule my payment at the 1st of the month like I have for 14 years. Since the payment isn't due until the 25th, they refused to schedule my payment! (WHAT?!) They claim "the system" won't let them schedule a payment before it's actual due date. I can only make a payment when it's due or after. So if I don't pay right on the 25th, it's technically LATE. They're not willing to make any concessions. Reps are condescending & unhelpful.

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 4, 2019

Wells Fargo just sold our mortgage to this company and I am truly mortified about what might happen. We were given an account number and when we went online to set up the account the account number was not recognized. Our home is a VA loan and we're contacting them to see if anything can be done about this company. I also found this website giving information on how you can legally deal with this company.

37 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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