Date Received: 2020-11-09
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I took advantage of the Forbearance Covid19 program through Specialized Loan Servicing in XXXX. The Forbearance program began on XX/XX/20 and ended on XX/XX/20. I called on XX/XX/20 to setup payments as instructed By Specialized Loan Servicing. I setup the payments on XX/XX/20 to get everything caught up and made the first payment that day for {$480.00} per their instruction. In XXXX I applied for a loan through another company to purchase a house, Initially my credit report came back fine. The loan company ran my credit again just to verify and it had a 60 day late payment on there from SLS. I called and asked them what the issue was and through several calls I discovered that they had applied my first payment listed above incorrectly and then falsely reported on my credit that I had late payments. I requested a letter from them saying that they reported incorrectly on my credit and they refused.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48917
Submitted Via: Web
Date Sent: 2020-11-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-05
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: After receiving my XXXX XXXX Benefits, I was finally able to reinstate my loan. A mediation date was scheduled with my lender. XX/XX/XXXX At the mediation my lender would not work with me and would take nothing less than the total lump sum amount to bring my loan current. No rules, regulations, or explanations where provided. The decision was made solely because " they just didn't want to ''. XX/XX/XXXX I received a bank statement stating, as of XX/XX/XXXX, the total reinstatement amount is {$46000.00}. It also stated, " if payment is received before XX/XX/XXXX, {$0.00} late fee will be charged. XX/XX/XXXX I ask for and received a letter with the full reinstatement amount. As the amounts preciously received were different by phone, then by letter, the online. In the letter now the " new '' reinstatement amount was {$47000.00}, an increase of {$1400.00} XX/XX/XXXX I paid the " new '' reinstatement amount of {$47000.00} XX/XX/XXXX I received a bank statement reflecting that I now have {$2500.00} of unpaid fees, with an additional {$510.00} already credited. A subtotal of {$3100.00} of " Total New Fees Charged ''. Corresponding with my lender, the answers to my questions have been explained inadequately. 1. Why does my lender 's XX/XX/XXXX reply to my XX/XX/XXXX inquiry addressing these issues have a breakdown of the " Total New Fees Charged '' subtotaling {$5200.00}? I asked about this unexplained, arbitrary amount in my XX/XX/XXXX inquiry. There was no adequate explanation in their XX/XX/XXXX response, just a revised breakdown of the " Total New Fees Charges '' to match their claim of {$2500.00}. 2. An analysis was done to calibrate my reinstatement amount shown in the XX/XX/XXXX letter that I asked for. Why, after I paid the total reinstatement amount was there another analysis done on my account developing " Total New Fee Charged '' of {$2500.00} on my XX/XX/XXXX bank statement? The XX/XX/XXXX letter clearly states " the next analysis of your escrow account is scheduled for XX/XX/XXXX ''. 3. My lender acknowledged " inadvertently stating that SLS received a payment of {$47000.00} ''. After I sent them proof of my {$47000.00} payment. Do these " inadvertently '' mistakes and arbitrary amounts arise with all SLS clients, or just me?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 890XX
Submitted Via: Web
Date Sent: 2020-11-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I modified my preexisting ACH automatic enrollment on XX/XX/20 to increase my principle payment. When modifying, the disclosures stated it would take affect XX/XX/20 as it was within in 3 days of my scheduled payment. I received a message in my online account message box that the information was set up and would begin XX/XX/20. I received a letter in the mail stating it was set up for XX/XX/20. When I click on my payments online, it shows an effective date of XX/XX/20. What actually occurred, it didn't set up the XXXX payment, canceled my already scheduled with ABSOLUTELY no notification or disclosure. When signing up for the modification, nothing states it would cancel an already set up payment and that I must not go in and do another payment. We did this same process on XX/XX/20 with no issue. When I contacted both the chat and the XXXX #, I was told 15 days for set-up ( different from the 3 days stated on the website ).
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 49024
Submitted Via: Web
Date Sent: 2020-11-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Complaint on Specialized Loan Servicing XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, CO XXXX Direct : XXXX Fax : XXXX On XX/XX/XXXX I received a letter from my lender 's servicing company, Specialized Loan Servicing ( SLS ), that they received notification that my insurance coverage associated with my investment property had been canceled and the insurance company had advised that the refund had been sent directly to me. SLS stated that in order to avoid an escrow shortage associated with the refund, I needed to return it to them. I wasnt informed that my insurance was canceled by the insurance company, so i gave my insurance agent a call. The insurance broker I used is XXXX XXXX XXXX, the agent name was XXXX XXXX, and his phone number is XXXX and email XXXX. XXXX then told me that he would handle it and gave me a new policy with the same insurance company that initially said that they canceled my policy a couple of days after closing, the insurance company he used was XXXX XXXX XXXX XXXX. Who I still have a policy with for this property currently. I sent the policy information to SLS and received a letter on XX/XX/XXXX stating that that they thanked me for providing evidence of my insurance and they had updated their records to reflect this current information. But they also stated in the letter that their records still showed that there was a lapse in coverage from XX/XX/XXXX to XX/XX/XXXX. They also stated that they were going to place lender placed insurance for a charge of {$1700.00} to my account for the period of time that the coverage was in force and in order to avoid the charges or have it reversed from my account that I had to provide evidence of insurance for this lapse period. On that same day I receivedanother letter from them, With the subject line : second and final notice please provide insurance information for with my property address. This letter also stated that they received the insurance information I provided but were unable to verify the coverage from the above dates and asked me to please provide them with the insurance information for those dates immediately and that I would be charged for insurance for those dates and the estimated cost would be {$1700.00} which may be significantly more expensive than insurance I can buy myself. They were requesting that I purchase insurance for XX/XX/XXXX to XX/XX/XXXX on XX/XX/XXXX. There is no way that I could purchase insurance for past dates. When then called SLS on XX/XX/XXXX to to inquire on why I received this notice and second notice in regards to having back dated in-forced insurance placed on my property. the representative, XXXX and then later XXXX XXXX both echoed that the property had to be insured at all times. I told them that I was not aware that I did not have insurance on the property and that they did not notify me that I didnt have insurance and neither did insurance company notify me that the policy was canceled. They then said that during the process of them receiving/transferring my loan from XXXX XXXX XXXX, XXXX XXXX The Lender ( XXXX XXXX XXXX # XXXX, XXXX XXXX, CA XXXX, phone # XXXX ) on XXXX representative form SLS stated that they where provided the canceled policy from XXXX XXXX XXXX. So they assumed I was covered, but when it was time to renew the policy, XXXX XXXX XXXX XXXX said that policy was canceled a week after my closing and that they sent notification to the property address, the insurance agent, XXXX XXXX, and also the previous lender, XXXX XXXX XXXX that they had to cancel the policy.Since this is an investment property I did not receive the cancellation letter nor was I notified by the previous lender, XXXX XXXX XXXX or insurance agent, XXXX XXXX that the policy was canceled and to seek new coverage before forced coverage would be in placed. The entire time, I thought I had coverage. XXXX from Specialized loan servicing gave me a policy number XXXX from XXXX XXXX XXXX that cost {$1700.00}. This company is a part of SLS. On XX/XX/XXXX I received another letter from SLS saying warning notice of purchase of hazard insurance please read carefully action required. It was addressed to me and stated that recently they sent me two notices requesting proof of acceptable hazard insurance coverage for the timeframe referenced above but did not receive it so they placed or bought insurance for the property and charged my escrow account in the amount of $ XXXXIn the same letter they showed the cancellation of the lender- placedinsurance at the same time and still charge me the premium for the lapse period of {$1700.00} and that it was billed to my loan. My loan has been transferred twice from the original lender, XXXX XXXX XXXX on XX/XX/XXXX to XXXX XXXX XXXX I with SLS being the servicer, then to the current lender, XXXX XXXX XXXX XXXX XXXX on XX/XX/XXXX, with SLS also serving it. This is when they notified me that I had no insurance on the property.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 34772
Submitted Via: Web
Date Sent: 2020-11-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-04
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: In XX/XX/XXXX, I requested a forbearance on my mortgage loan starting XX/XX/XXXX, and it was granted for three months. During that time, I paid interest on the loan for XXXX, XXXX, and XXXX, which SLS refused to apply as a separate payment each month. I requested a loan modification in XXXX and sent in the required documentation for consideration. During the period from XXXX to XXXX, I received notices of late payments and foreclosure threats. I was asked to provide additional financial information for the loan modification. I was gainfully employed and had a small events business, but due to COVID, I received no revenue from that. After waiting for months to hear from SLS, I received a denial of my loan modification request. Instead, I was offered the option to short sell or let the mortgage owner take ownership. One reason for this denial was because of a fraudulent home valuation report that was requested by SLS from a local real estate company in XXXX, NV, called XXXX XXXX. This company had undervalued my home by {$100000.00}. I called them to complain because no houses in my area were used for comparison in the report, and the photos in the report did not reflect my home 's location or neighborhoods. The forbearance rule mandating that you had to pay the balance of the forbearance plus your mortgage in full for three additional months before you could be considered for a refinance delayed my ability to refinance. I believe that SLS used the undervalued and fraudulent home valuation report and my age to support this denial. The company also continued to send me foreclosure notices even after I paid my mortgage and the forbearance balance. While waiting months for SLS response, I tried to refinance but was declined because of the three-month rule. In the meantime, I lost my job. Now I can't refinance the loan. I have no incurred considerable financial loss and stress and am unemployed and trying to keep my home now. Had I been given the loan modification at the lower interest rate, I could have kept my head above water. I was told the INVESTORS declined to approve my loan modification, which is at 3.25 %. This denial has now cost me savings totaling {$1000.00} for XXXX XXXX and future annual estimated losses of {$3200.00} ( XXXX ), XXXX, XXXX, and on. The stress has been unbearable. Also, I asked for a waiver of the fraudulent {$15.00} home valuation fee, and that was declined ; this was the straw that broke the camels back.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89052
Submitted Via: Web
Date Sent: 2020-11-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-03
Issue: Trouble during payment process
Subissue:
Consumer Complaint: CMC Funding, serviced by Specialized Loan Servicing, LLC purchased our loan from XXXX XXXX after one month into a new mortgage. The first payment was XX/XX/2020 and I had sent a check to XXXX XXXX. CMC Funding purchased the loan some time in late XXXX so XXXX XXXX sent the escrow ( {$4100.00} ) and first payment check ( {$1700.00} ) to CMC Funding. After numerous calls to CMC Funding to determine if the payments for the first months mortgage, XX/XX/2020 and the escrow had posted, they had not yet processed. Realizing I have 60 days by law for all postings to take place on transferred loans, I still wanted to be current so on XX/XX/2020 I made a payment for XX/XX/2020 of {$1700.00} and a principle payment of {$4000.00}. I contacted CMC Funding customer service and due to the account being so new the only option I had to make a no fee payment was by check or a one-time ACH transaction so I made the one-time ACH transaction. On XX/XX/2020 I found that CMC Funding drafted another {$1700.00} XXXX mortgage payment ) and {$4000.00} ( principle payment ). It took me numerous calls and messages from their portal to get in touch with anyone, this was especially suspect compared to more than ten mortgage companies I have dealt with over 30 years. Additionally, non-existence of any customer service level at all. When I spoke with the customer service agent and asked how a one-time ACH could draft twice over a ten day period, she had no explanation. I asked for a credit to occur and she validated that by executing a credit. She told me that she didn't know if it ] the credit would be by way of check or ACH and that if I could get on my banks letterhead that the funds left my account XXXX funding would expedite the credit faster, so I did that immediately. I followed-up for two weeks trying to get a human on the line to no avail, spent a total of 6 hours working on this at this point. I had also sent messages from their portal explaining the situation only to get back XXXX. replies, as follows ( I wrote ) " I'm following up on the status of my credit for {$5700.00}. I have been told numerous things by phone and still have not received it? Please let me know when and how the credit will be issued? The debit from my account was on XX/XX/XXXX and was told that if I submit a bank letterhead stating the funds left my account that the credit would be more expeditious, I did that. I'm still trying to understand why this happened and would like an explanation. I had an old one-time ACH set up for {$1700.00} for an XX/XX/2020 mortgage payment and a {$4000.00} principle payment make on the same transaction in XXXX when we were first getting establishes with you folks. It showed in your system at the time that the next payment would be in XXXX. Your system then extracted another {$1700.00} mortgage payment and {$4000.00} principle payment on XX/XX/XXXX? ", ( CMC reply 1 ) " Thank you for your inquiry. If the online portal is providing difficulty from setting up automatic payments we are here to assist. However, CMC is unable to set up call backs through our online inquiry. If you would like assistance with setting up auto pay, you may provide all the bank information with the desired draft date, once completed you will receive a letter of confirmation the mailing address on file. This will also be viewable through your online message center. You may also contact us at XXXX M-F XXXX MT., Thank you., XXXX XXXX Teller ID : XXXX '', ( CMC reply 2 ) Thank you for your inquiry. As of XX/XX/2020 a payment in the amount of {$5700.00} was credited as an additional principal payment. Please review the online portal through all transactions. Thank you. XXXX Teller ID : XXXX ''. The second response was confusing, I was expecting a credit and someone at CMC Funding inadvertently made a decision to apply the whole amount, ( {$1700.00} mortgage payment ) and ( {$4000.00} principle payment ) to principle? I was extremely upset at the lack of professionalism and suspect of their legitimacy as a mortgage company. That event lead me to file this complaint. I then spent another 4:23 hours trying to get ahold of someone and finally got to a supervisor who said she understood the mistake that was made and supposedly corrected it and that was on XX/XX/2020. At this point I have XXXX mortgage payment coming up so I told her to only credit my bank account the {$4000.00} principle payment amount and use the remaining {$1700.00} for XXXX 's payment. She claimed that the funds would go back into my account by way of ACH, I still have nothing showing in my account as of XX/XX/2020. I sent another message from their portal on XX/XX/2020 and no reply yet. I have a little over 10 hours invested in this ordeal and I find this company highly suspect in their business practices. Please let me know if I have any legal recourse, if so I will be glad to take this business to civil court for damages and hopefully you find criminal offenses that levy heavy fines and/or jail time for someone. If this happening to me, multiply that by XXXX 's.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 34219
Submitted Via: Web
Date Sent: 2020-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-03
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My name is XXXX XXXX mortgage holder Specialized Loan Servicing account loan number # XXXX is claiming that I have a past due amount on my mortgage for late charges past due in the amount of XXXX plus other late fees on my account. I have asked for proof of the amounts SLS mortgage is claiming I owe them for approximately 3 years with no proof or response with documentation of the fees they are claiming I owe them. Once again I am asking Specialized Loan Service for proof of the amount they are claiming to be owed to them and sent to me XXXX XXXX and sent to to cfpb which I owe them nothing and quit wasting my time and energy and send me back a refund for the XXXX and any other charges they have added to my mortgage and if there has been any negative credit reporting to the 3 major credit bureaus that the reporting be erased form my credit profile with a letter of proof that the action was taken care of. My own perspective is I take pride since I first became a homeowner with a mortgage in 1993 I have never ever been late on my mortgage payments with any mortgage servicer or bank since I became a homeowner. I am very familiar with credit and its impact it could have on late payments to any creditor since I was General Sales Manager for 40 years with XXXX XXXX XXXX and ran customers credit daily at least 20 credit bureaus per day and dealt with over 30 lending banks and credit unions. Since I have been dealing with this inaccurate information for 3 years and you will not find any late fees I am asking for a expedite refund of all money owed to me Thank You XXXX XXXX Phone number XXXX Email XXXX I 100 % swear the above information is true and prefer phone calls
Company Response:
State: CA
Zip: 94534
Submitted Via: Web
Date Sent: 2020-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Beginning on XX/XX/XXXX I contacted my mortgage company for assistance during the COVID 19 outbreak. I was told there would be no assistance for me. My original hardship was the passing of my parents and then the pandemic curtailed my income. I was told that the loan had had the maximum of modifications allowed and could not get anymore. I asked for a copy of the modifications they said I received modifications in XXXX, XXXX and XXXX. My father passed in XXXX and my memory recalls a short sale approval but not a modification. I have been asking for copies of the modifications and the " ticket has been open '' since XXXX, XXXX and still can not get a copy. Also, I have been explaining that I need pandemic assistance and not only did my lender tell me no, they have been moving forward with the foreclosure case, docket attached in the document area of this complaint. Also, I have been attempting to get this loan in my name as it is still in my deceased mother 's name but they have told me I need a modification to do so and they are stating I had three but will not send them to me or prove it in anyway. I am asking for proof of all modifications, some assistance with COVID and a stalling of my foreclosure case so that I may not be homeless during a pandemic. The request for assistance was made in XXXX and the docket shows they are still trying to sell the home.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33142
Submitted Via: Web
Date Sent: 2020-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-03
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My payment I had last month XX/XX/2020 for {$520.00} did not post to my loan account. It came out of my XXXX account XX/XX/2020. Confirmation Number : XXXX. I contacted the mortgage service today XX/XX/2020 and told my payment was applied to principal. They said they would submit a request, but I wouldnt get confirmation when it was complete. They said the payment I made today XX/XX/2020 for {$520.00} would go to principal and Id have to contact them once it posted wrong. I submitted my payments online as normal NOT principal payments. When I call their XXXX # I can not get a human and shuffled in the automated system.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 337XX
Submitted Via: Web
Date Sent: 2020-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-02
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I was under a forbearance for 6 months with a company called Specialized Loan Servicing XXXX XXXX XXXX XXXX XXXX, XXXX XXXX CO. XXXX Back in XXXX I filled out documents requesting Loan Modification in Covid related for two months now the company received all my paperwork. I done this because we were getting our jobs back and could start making payments but could not afford to pay back payment all at once. I been told that they are awaiting signature from investor. I have been told this for months now I fear they will will not approve a loan modification and drag this out until end of XXXX when the protection is over and then plan to a foreclosure. I have contacted them several times and been told they awaiting Investor review. XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 150XX
Submitted Via: Web
Date Sent: 2020-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A