Consumer complaint received 2022-12-23
Company: Specialized Loan Servicing Holdings LLC
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Explanation about the scam by XXXX XXXX XXXX. 
In XX/XX/XXXX, XXXX XXXX XXXX called me that my property has an equity of {$50000.00} ( XXXX XXXX dollars ) if I want to pull it out. After consultation with my colleagues at work, I told them I dont want XXXX dollars ; I want only XXXX dollars to pay my children 's school fees. I sent all the documents they asked for ; pay stubs, bank statements, and a letter of appointment. 
After the processing of the application, on XX/XX/XXXX, a lawyer came to my house and brought some documents for me to sign. I asked him why the home visit, as other previous transactions between XXXX XXXX XXXX and I were either email or XXXX, he said he needs to explain the documents to me and to avoid any delay. While I was signing the documents brought by the attorney, I noticed the amount of the equity was XXXX dollars instead of the XXXX dollars that I requested. I told the lawyer that I only applied for XXXX dollars, why XXXX dollars? He said that he did not prepare the papers and that he can contact XXXX XXXX XXXX to cancel the deal and start all over again if I refused to sign. I asked him if the previous documents I submitted will be used to change the amount to the XXXX dollars that I requested, ( my intention was to take XXXX out and leave XXXX for future use ), he said, no, because the documents were over two weeks, that, I have to submit other documents. I said, let me sign it as I can not go through what I went through when I was submitting the documents and my children 's school fees were due. 
After that I did not hear from XXXX XXXX XXXX, I called them to ask for the fund, as the attorney said that I will receive a check within 3 to 5 working days, I was told by an associate of XXXX XXXX XXXX, that the company already went bankrupt, that I can not receive any money from them anymore. Then I knew I have been scammed. 
In XX/XX/XXXX, I wanted to sell my home, but then I discovered that a company called SPECIALIZED LOAN SERVICING ( SLS ) placed a lien on my house. I called them ( the Specialized Loan Servicing ) ; I was told that I took a loan of {$53000.00} XXXX XXXX  XXXX dollars ) from Secured Credit Corporation and I did not pay it back. I explained to SLS that firstly I was not paid but I signed the documents, and secondly, it was equity I applied for, not a loan, and the equity was not given to me. 
Furthermore, I was told by an associate of SLS that ; actually the money was paid to XXXX XXXX XXXX in New York. I called the said bank, they told me they do not have a record of any money paid to them on my behalf by XXXX XXXX XXXX in XXXX. 
I approached a lawyer in XXXX, XXXX & XXXX XXXX. A letter was written ( exhibit I ) to SLS on my behalf to produce document ( s ) signed by me to pay the fund to the bank ( XXXX XXXX ). When I called SLS to follow up on the letter, I was told to go and sell the house and send them their money, but they do not have any documents to give me. 
The Payoff Statement sent to the title company by SLS indicated ; original loan amount : {$53000.00} and amount due : {$100.00}, XXXX, ( see exhibit II ). 
You may wish to know that the alleged loan is not appearing on my credit report ( see exhibit III ). 

My submissions : 1. To enforce SLS to produce the document ( s ) signed by me to pay the alleged loan to XXXX XXXXXXXX XXXX in New York. 
2. To please use your good office to disallow SLS to take advantage of that I do not have the kind of influence and connections they have to lift the lean on my property. XXXX XXXX XXXX XXXX XXXX, the proceed of the home is my hope of survival for the rest of my life. 
Thank you for your anticipated consideration on this matter. 
XXXX XXXX XXXX XXXX. Please do not allow SLS to take advantage of me, as I was scammed by XXXX XXXX XXXX.

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