Consumer complaint received 2018-07-13
Company: Specialized Loan Servicing Holdings LLC
State: MD
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
I have an adjustable rate HELOC mortgage with XXXX XXXX XXXXXXXX now being serviced by Specialized Loan Servicing, out of XXXX XXXX, CO ( XXXX ) XXXX. 

I filed a Chap XXXX Bankruptcy but have been making my payments every month voluntarily so I could keep my home. 

Because I have an adjustable rate mortgage the payments changed and I didn't realize it since they refuse to send me statements because of the BKO. They said I had to request them in writing. 

I requested them in writing XX/XX/XXXX after receiving a Notice To Foreclose and none of their representatives being able to tell me exactly what I owed and from what dates. I requested all past statements and to have statements reinstated going forward. I was told that I wasn't being reported late to the Credit Bureau and that I wasn't being assessed any late fees. 

XX/XX/XXXX I received a letter stating the received my request and my case was under review. We will have a response issued to you within applicable state and/or federal times frames. 

I never received any past statements, nor did I receive statements going forward. I received a payment history which was very hard to understand with a four page key of Payment Transaction Codes which correlated with the computer print out they sent me. Not consumer friendly and didn't give me a normal month by month what was paid and owed. I feel like they are incorrectly posting all of the money I am sending them in an attempt to collect late fees and something they call Corporate Advance Fees/ a fee they charge when I send in a partial payment. Which I never knew about and had been sending in 1/2 of my mortgage payment every two weeks in an attempt to pay down the principal which I guess resulted in them not applying my payments correctly and charging me a fee every time I did it? Not to mention late fees after they hold my money in an account? 

One XX/XX/XXXX I received a letter from them stating they received my letter however not at our designated address for " such inquiries. '' Then they gave me the address but stated that my letter was currently under review. We will have a response issued to you within state and/or federal regulated timeframes. 

Today XX/XX/XXXX I called them again because I got a letter saying I was behind and they were going to Foreclose on me, even though I stopped mailing in payments every two weeks b/c a rep told me they were mis-posting them and I should just mail it once a month. 


After speaking to XXXX for 86 min who put me on hold over and over again to research basic questions only to come back on saying I needed to request everything in writing again to get statements and that she wasn't even sure if I would get statements after I requested them because it was based on my states laws after bko? She also kept saying this was my fault. I wasn't making my payments on time. It was my fault I filed bko and that is why they can't send me statements. She also told me I owed 3 months of payments immediately. Even though I hadn't missed any payments and that my loan was complicated so she couldn't read me a month by month to show when I was behind? 


I asked to speak to her manager and she told me it was their policy to request a manager call back and it would take up to two business days. Today is Friday. So that means I would have to be worried sick about foreclosure proceedings being started on my home where I would be assessed more fees for an attorney etc, thus never digging out of this debt. 

In XXXX my interest only payment was {$930.00}, then it went up to {$1200.00}, then {$1600.00}, now it is over {$1700.00} and she said it will adjust every 3 months until I pay it off. 

This loan is insane. There is no way I can continue to pay an extra {$900.00} a months on a second mortgage and have it go up {$100.00} every 3 months. 

They are a horrible servicing company. I seriously doubt that my state regulations allow them to take almost as year to respond to a request I put in writing. Now she is telling me to put it in writing again and I can't talk to a manger? 

Please help me???

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