Consumer complaint received 2017-03-22
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
I applied for a loan modification with Specialized Loan Servicing LLC. 
To date, the documentation and information SLS has sent me and the conversations I have had with their service representatives has been unproductive and do not address my questions and concerns. I have applied for assistance under Making Home Affordable but have never been offered a workout option, loan modification, or solution to my foreclosure situation, as required under the California Homeowner 's Bill of Rights. They received my complete application package on or before XX/XX/XXXX but instead of reviewing my application for acceptance for a modification, they refused to review my application, and subsequently never submitted for decision my HAMP modification without notification and scheduled a foreclosure action. It was n't until I called in and spoke to their representative that I found out my application was not being considered for modification. 

With all the recent news regarding stories of predatory lending practices and illegal foreclosure processes, I have become increasingly concerned that I am a victim as well. Their representatives have caused me to feel like you are trying to hide something. I am worried that potential fraudulent and deceptive practices by unscrupulous mortgage brokers ; sales and transfers of their mortgage servicing rights ; deceptive and fraudulent servicing practices to enhance balance sheets ; and deceptive abuse or fraudulent accounting tricks and practices may have negatively affected my credit rating, mortgage account, and/or the debt I am legally obligated to satisfy. 

There are several details and discrepancies about my loan that have come to my attention and which have me deeply concerned. Of primary concern is the fact that the purported trustee, Specialized Loan Servicing LLC, was never legally substituted as trustee as required under CA law. 

Apparently, my loan was also pooled and securitized and converted into an investment stock and held under a trust unbeknownst to me and it is unknown who is the securitized trust. To my knowledge, an Assignment of Deed of Trust was never created and recorded by XXXX naming XXXX as beneficiary, as also stated in the Notice of Default. I 'm unsure exactly how my loan would be assignable to a new beneficiary as successor when it had already been securitized. This has resulted in me having grave concerns and questions as to who actually owns my loan as beneficiary. 

I have demanded that they produce evidence of the original or certificated security regarding loan number XXXX with a QWR, including all endorsements and/or allonges. In the event they are unable to supply me with said security, I will view that as confirmation that they never created nor own beneficial interest in such security. 

The Original Deed of Trust, recorded XX/XX/XXXX, indicated XXXX as the trustee under the original signed deed of trust, yet the Notice of Default indicates XXXX as the " Duly Appointed Successor Trustee, '' and the Notice of Trustee 's Sale purports that SPECIALIZED LOAN SERVICING LLC is the Trustee of Record. 

I assert that there was never a Substitute of Trustee document issued by SPECIALIZED LOAN SERVICING LLC, XXXX, XXXX, or other beneficiary, and recorded in XXXX XXXX XXXX granting SPECIALIZED LOAN SERVICING LLC authority designated as a trustee for the purpose of this foreclosure action. Therefore the Notice of Default and Notice of Trustee 's Sale are void and of no effect. Conducting a Trustee 's sale without being legally appointed as trustee is is a violation of California Civil Code 2924 ( a ) ( 1 ), and gives me grave concerns about what other violations they are committing. 

Please help me resolve this issue. 

Thank you.

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