Consumer complaint received 2019-09-10
Company: Specialized Loan Servicing Holdings LLC
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I own a site condominium in Texas in which a lot has been subdivided into two discrete parcels that are entirely responsible for our own, fenced off areas of the land. We then carry a $XXXX   policy for the shared driveway which ends at separate driveways for each unit. My property was incorrectly entered into Specialized Loan Servicing's system as a standard, shared property condominium which would require an HOA master policy along with each unit carrying condo insurance. This would lower each individual's unit burden while shifting much of the liability to a master policy, it would end up being cheaper for me.Back in XX/XX/XXXX however, I received a notice that I didn't have adequate insurance coverage and that if I did not upload my policy, SLS would buy more expensive insurance that would potentially cover less than my own policy. I was terrified at the thought of having to pay for double insurance after legal, my insurance agent, and the underwriter reviewers approved of my policy (and required me to obtain homeowner's insurance) with the loan originator. I uploaded the shared property plan and my own insurance plan to the given insurance website and thought the issue was resolved as the website said I would hear back in ten days with a resolution. I never heard back. I got a second warning a few weeks later that I still had not uploaded the documents even though I obviously had -- when I went to the website, they showed the policy documents I had previously uploaded and didn't even offer the opportunity to upload additional supporting documentation. I called SLS the next day, explained the issue, and was told not to worry and the agent would resolve the case; it was just a system issue and she would take care of it.Two weeks later, I received another notice that I didn't have insurance and SLS would be purchasing insurance for me. I have now repeated this process six times. I have received six letters. I have called SLS six times, and each time their agents have been incredibly kind, quickly recognized the issue, and made me feel like my property was updated in their system once and for all. I even got policy cancellation notices for the policy that SLS purchased on my behalf and the money was refunded to my escrow account, I felt like I was finally in the clear. Today I came home and opened my mail to find another letter stating I did not have the proper insurance on my property and SLS will be purchasing insurance on my behalf. This is a stressful, tedious issue that isn't amusing to me anymore. I appreciate that systems go haywire, I've written software for major tech companies for a decade now and appreciate that enterprise systems are fickle but this is driving me insane. I have recordings of most of the phone calls and just want this to be updated once and for all. I'm angry at my originator for working with SLS if this is the type of company they are.I'm missing two of the letters but have uploaded seven that I received. I also have recordings of most of the calls but SLS has their own copies which are likely better quality.

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