Consumer complaint received 2019-04-02
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Specialized Loan Servicing of Colorado appears to have purchased the servicing rights to a HELOC/Purchase loan that XXXX XXXX XXXX has already discharged. 

The original loan was an 80/20 loan originated in XX/XX/XXXX. This was a " purchase '' loan. I did not use the " 20 '' for anything. This is the way XXXX structured the loan. This 80/20 loan was modified and I have been making payments on my mortgage ever since. My loan went from XXXX to XXXX XXXX XXXX to XXXX XXXX XXXX XXXX and finally back to XXXX  XXXX XXXX. I am in good standing. 

At some point Specialized Loan Servicing purchased the discharged " note '', the " 20 '' portion of my original loan.. They never attempted to collect the discharged debt and never sent me any tax statements. I assumed their occasional letters were attempts to defraud me so I ignored them. They arrived once a year. Then in the summer of XX/XX/XXXX, SLS claimed I was required to pay the 20 % portion of this " purchase loan '' plus interest for the past 12 years for a total of {$110000.00}. 

They have repeatedly refused to provide proof that they are legitimate and that they represent a financial institution. They refuse to provide proof that they can reconvey the lien. Why would I pay this discharged debt when it has been discharged by the financial institution 10 years ago and Specialized Loan Servicing role is nothing more than a collection agency that took a risk and purchased a " bad note ''. 

After I called them several times to reason with them, they renewed the expired lien with new beneficiaries. I was NEVER served. I never received anything by mail. I NEVER paid a dime to Specialized Loan Services. 

For financial reasons, I need to sell my home. I hired an attorney to help me and he's trying to help me pro-bono. However, even with an attorney, SLS will simply not provide accurate or complete answers. They are constantly moving the goal post! Today I asked to speak with our point of contact and I was told they had no one by the name of XXXX ( teller is what they're called ). When I persisted, I was told he was in research and didn't take calls. I was told I could not speak with him at all. 

In addition, to get SLS to even take my call, I had to provide my XXXX  ill, ex-husband 's ss # because they change the paperwork from the focus on me to the focus on him. My ex-husband deeded me the house 6 years ago. Are they now going after XXXX who is terminally ill because I hired an attorney? SLS > XXXX  means he's XXXX. He's going into XXXX  soon. 

SLS claims to represent the XXXX. The XXXX states " no '', call the XXXX XXXX XXXX. The XXXX  XXXX XXXX states they have NO record of this loan anymore because it was a mandatory discharge. 

I have been going in circles since approximately XX/XX/XXXX. I need to sell my home due to financial reasons and now I can't because SLS has this fraudulent lien on my property that NO BANKING INSTITUTION will validate as legitimate. I am incurring attorney fees that I can't afford and the sale of my home is now at risk due to this fraudulent lien. 

Please study this case CFPA. It's an excellent example of what predatory lenders and servicing agencies do to confuse and wear-out the consumer until the consumer quits out of sheer exhaustion while SLS steals their money. There is NO protection for the consumer if the serving agency is allowed to delay a correct response over and over again. Many people can't afford an attorney so SLS is able to defraud people by default over and over again. 

Please CFPA. Please see my most important attachments that prove this whole situation stinks of predatory practices and intentional misinformation. If you can't help, I respectfully question why the CFPA even exists. The predatory lender is being protected, NOT the consumer. 

Please, please help me.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation