Consumer complaint received 2018-01-20
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My wife and I purchased a home in XX/XX/XXXX. We had a great experience with our mortgage broker. As is common, shortly after the close of the sale, the mortgage was sold to XXXX XXXX XXXX ( SLS ). That 's where everything went downhill. 

When we got our loan, we were told by our mortgage broker that our PITI would be {$4400.00} per month since we chose to escrow for taxes and insurance ( we did n't have to since our downpayment was significant ). For some reason, SLS was billing us too little ( I do n't recall the exact amount but is was about {$1000.00} less than what we were paying ). Regardless, we continued paying {$4400.00} every single month. After several months, I contacted SLS and said that something was wrong with their billing and that they needed to review their billing. Nothing changed. 

I contacted SLS once again in the Spring of XXXX ( do n't recall the date ). They finally took action and were supposed to have fixed everything. They finally realized that our PITI should have been {$4200.00} - which is still more than {$200.00} less than what we faithfully paid every single month and on time. They even sent us a check for an escrow overage of {$1100.00} after they supposedly fixed everything. Then, starting in around XX/XX/XXXX, they starting sending bills stating that our account was delinquent! How can this be when we overpaid every month and they even sent us a check for the overage?! 

I contacted our original mortgage broker about the issue in XXXX and he had someone in his company contact SLS on our behalf. We were told that SLS would be contacting us. That never happened! 

Finally, on XX/XX/XXXX, I sent SLS a letter detailing the issues from the inception of the loan. Shortly thereafter, I received another statement from them stating that they were trying to collect a debt - to the amount of {$4100.00}! My wife noticed a substantial decline in her stellar credit rating which is absolutely ridiculous. And, they are charing us late charges! How can this be when we were NEVER late and we were OVERPAYING?! 

On XX/XX/XXXX, I called SLS and spent an hour on the phone with 3 individuals. First, I spoke with a gentleman named XXXX. After several minutes of researching our account, he found an error in XX/XX/XXXX where they ( SLS ) made a mistake and misapplied {$3600.00}. In fact, considering that we had been still overpaying each month, with the late charges and this amount, we were still overpaid in our account. I asked XXXX to remove the late charges and he said that someone else would need to do that. 

Then, I was transferred to XXXX ( not sure of spelling ). I explained the situation to him and he said that he did n't have the authority to reverse the late charges, but would present the case to those who could and said that it should n't be a problem and it should be corrected in 2 business days. I asked him about fixing our credit rating and he said that this was handled by another department. 

When I was transferred this time, I got to speak with XXXX. I explained our issues AGAIN and she was very nice and promised me that I would receive a call the very next day. That would have been XX/XX/XXXX and I am still awaiting that call. 

I did finally get a response to my letter of XX/XX/XXXX, supposedly written on XX/XX/XXXX, although we did n't receive it until several weeks later. All they said was that they received our letter, would investigate and respond in writing in the time permitted by state and/or federal timeframes. As of today, XX/XX/XXXX, we have not received their findings. 

Apparently, my conversation with XXXX was fruitless as I got another bill dated XX/XX/XXXX for {$8200.00} - {$4000.00} more than what our PITI should be! 

This company is incompetent, irresponsible and has damaged our credit by their continual mistakes. We are held hostage by them now that they own our mortgage. Other than refinancing, there is nothing that we can do. 

We would appreciate your assistance in this matter.

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