Consumer complaint received 2018-10-31
Company: Specialized Loan Servicing Holdings LLC
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
To SLS : I called on XX/XX/XXXX to follow up on the receipt of the request of the modification review and still to no avail was the documents looked at or even in the system after being sent to you on XX/XX/XXXX, XX/XX/XXXX, & XX/XX/XXXX. A NEW SALE DATE was set by the XXXX COUNTY SHERIFFS office on XX/XX/XXXX of a new date of XX/XX/XXXX. This gave me 56 days to have a REQUEST of Modification/Workout on the loan by Specialized Loan Servicing on behalf of XXXX. 

I had 2 representatives send me to other departments and keep me on hold for XXXX minutes or more ( which is all documented ). Finally a representative said there is no supervisor to speak to and will put a request in for a call back which can take 24 - 48 hours. I received a call this evening XX/XX/XXXX at XXXX XXXX and have been again transferred around put on hold and then hung up on. I called back and have been told the New Sale date still is not updated in the system of XX/XX/XXXX and they have no documents. 

I find this to be very concerning as the same email address that I have been using this entire process now isn't transferring the documents to you as you stated and I think that you are doing this intentionally. After calling back again and getting another representative named XXXX and I explained the entire situation again, he was able to now verify the documents have in fact been received but nothing has been done with them due to the new sale date not getting updated in the system. The modification department won't look at it because XXXX has not changed the sale date to the new legal sale date given to XX/XX/XXXX. XXXX stated he will have this escalated and his supervisor XXXX will be in contact with me. I am still waiting and have heard nothing as of yet. 

Specialized Loan Servicing is in jeopardy of violating the federal laws : Current problems that you the mortgage servicers ( SLS ) is currently perpetrating in my loan modification process. 

Failing to Process the Application in a Timely Manner ( Homeowners experienced lengthy delays when waiting for the servicer to make a decision on whether or not to grant a loan modification. In some cases, the servicer doesn't tell the homeowners that they are missing documents necessary for the loan modification decision. In others, the servicer simply doesn't get around to reviewing the request in a timely manner. ) Federal mortgage servicing rules, effective XX/XX/XXXX, aim to reduce these delays. Under these rules, when a mortgage servicer receives a loan modification application from a homeowner 45 days or more before a foreclosure sale, it must : review the application determine if the application is complete or incomplete, and notify the borrower within five days stating that the application is complete or incomplete. ( If incomplete, the servicer must describe the information needed to complete the application. ) If the servicer receives a complete application more than 37 days before a foreclosure sale, it must review the application and determine if the borrower qualifies for a loan modification within 30 days. 

Mortgage servicers that commit any of the violations have caused me to ( among other things ) : incur increased fees and costs in order to avoid foreclosure lose your savings in a fruitless attempt to get a loan modification be wrongfully foreclosed upon, and/or miss out on the opportunity to pursue other alternatives to foreclosure, such as a short sale or deed in lieu of foreclosure. 


As per the above SLS has committed some of the violations mentioned above or is otherwise improperly handling my loan modification, I am being lead to believe I need to consult a qualified attorney who can advise me what should be done legally for this situation. 



I am in constant contact with you to have this review since XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX via email and telephone. 



Please update my loan file and have the correct departments please review the paperwork that is time stamped XX/XX/XXXX for the request for mortgage assistance/modification/workout. 



As of today it is 44 days before the sale date XX/XX/XXXX which mean 12 days SLS has caused delays in this process which can be viewed as intentional.

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