Consumer complaint received 2021-04-29
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
Step 1 : What is this complaint about? 
This complaint is the result of our loan servicer Specialized Loan Servicing LLC sending me a Default Notice and Notice of Intent to Foreclose dated XX/XX/XXXX. There is a balance due dispute from the loan transfer from XXXX XXXX XXXX to new loan servicer, XXXX Specialized Loan Servicing LLC. The Notice materially overstates the amount to cure at {$26000.00} versus a Specialized Loan Servicing LLC reconciled overdue amount of {$17.00}, XXXX on the XX/XX/XXXX mortgage loan statement. 

Step 2 : What type of problem are you having? 
I have been unable to discuss the dispute with either XXXX XXXXXXXX XXXX or Specialized Loan Servicing LLC. I have called both of these companies and they have been unable to resolve the issue. Additionally, I sent a letter to Specialized Loan Servicing LLC disputing the past due and cure amounts, as well as I asked for a reconciliation and provided twelve months of bank statements, as suggested by the Customer Service Representative on XX/XX/XXXX. 

Step 3 : What happened? 
The original loan was transferred from XXXX XXXX XXXX  on XX/XX/XXXX to Specialized Loan Servicing LLC. XXXX XXXX XXXX XXXX XX/XX/XXXX final loan statement regarding the transfer materially overstated the overdue amount at {$27000.00} versus the XX/XX/XXXX Specialized Loan Servicing LLC mortgage loan statement received, correcting the XXXX XXXX XXXX amount down to {$17000.00}. 

The original date of the loan with XXXX XXXX XXXX was XX/XX/XXXX. 

I received a letter dated XX/XX/XXXX, from XXXX XXXX XXXX indicating that the loan transfer had occurred and they would be sending two XXXX  year-end statements : ( 1 ) A statement reflecting payment and disbursement activity during the time XXXX XXXX XXXX serviced the loan. 
( 2 ) A statement from Specialized Loan Servicing LLC reflecting payment and disbursement activity from the transfer date through the end of the year. 
As of the date of this complaint, the documents have not been received. 
I received a notice of transfer dated XX/XX/XXXX from Specialized Loan Servicing LLC. 

I have received the following monthly mortgage statements from Specialized Loan Servicing LLC : Mortg. Payment Total Stmt Due Amount Amount Date Type of Payment/ Date Date Due Paid Paid Payment To XX/XX/XXXX XX/XX/XXXX {$4200.00} XXXX XX/XX/XXXX XXXX XXXX XXXX  XX/XX/XXXX XX/XX/XXXX XXXX XXXX XX/XX/XXXX Phone payment XX/XX/XXXX XX/XX/XXXX XXXX XXXX XX/XX/XXXX On-line payment XX/XX/XXXX XX/XX/XXXX XXXX XXXX XX/XX/XXXX On-line payment XX/XX/XXXX XX/XX/XXXX XXXX XXXX XX/XX/XXXX Mail payment All payments except the XX/XX/XXXX payment have been to Specialized Loan Servicing LLC. 

Note the following : ( 1 ) I received a letter dated XX/XX/XXXX, that stated that the mortgage loan is in serious default. This letter did not contain any financial information or dollar amounts. 

( 2 ) On XX/XX/XXXX, I called Specialized Loan Servicing LLC to discuss the dispute and the representative could not help with any disputes and gave us the XXXX XXXX XXXX telephone number. 

( 3 ) I received a Default Notice and Notice of Intent to Foreclose dated XX/XX/XXXX from Specialized Loan Servicing LLC materially overstating the amount to cure at {$26000.00}, versus the reconciled amount of {$17.00}, XXXX to cure reflected on the XX/XX/XXXX mortgage loan statement received. The Intent to Foreclose date is shown as XX/XX/XXXX. 

( 4 ) On XX/XX/XXXX, I called Specialized Loan Servicing LLC to discuss that I had not received an XXXX, XXXX mortgage statement and to discuss the disputed outstanding balance. I spoke to XXXX in the Breach Department and he indicated that I needed to contact the XXXX, Colorado office to send disputed requests, as he could not help with disputes. 

( 5 ) On XX/XX/XXXX, I called the Customer Service Department again for further clarification and XXXX, the representative indicated that I needed to send a letter to the XXXX, CO office disputing the amount and ask for a reconciliation. I was told to submit bank statements from XX/XX/XXXX to XX/XX/XXXX. 

I sent a letter to Specialized Loan Servicing LLC on XX/XX/XXXX disputing the amount due, asking for a reconciliation, and sent the bank statements requested. 

( 6 ) On XX/XX/XXXX, I also called XXXX XXXX XXXX  and spoke to a representative named XXXX, who indicated that all questions, disputes, etc. would have to be addressed with Specialized Loan Servicing, LLC from the loan transfer date forward. 

( 7 ) On XX/XX/XXXX, I received a monthly mortgage statement where Specialized Loan Servicing LLC had reversed all payments received from me since the loan transfer and mortgage statement billings, putting my payments in limbo or some type of suspension. 

( 8 ) I received a letter dated XX/XX/XXXX, that Specialized Loan Servicing LLC had received my dispute/reconciliation letter and the case is currently under review. The letter stated that they would issue a response to me within applicable state and/or federal timeframes. 

( 9 ) It is unreasonable for Specialized Loan Servicing LLC to assess fees to my account while they work out the loan transfer reconciliation and accounting with XXXX XXXX XXXX, as well as respond to my dispute/reconciliation request. The mortgage loan statements currently being received are starting to reflect miscellaneous types of fees that should be removed. 

( 10 ) As stated, I did not receive the corrected overdue amount until the XX/XX/XXXX mortgage loan statement, before being forced to default and foreclosure status on XX/XX/XXXX. Accordingly, I made monthly payments during the transfer and reconciliation period, and have made additional payments as I wait to receive and review the response from the dispute/reconciliation request. 

I was locked out of paying on-line when it was time to pay the XXXX, XXXX payment. The payment was mailed via USPS and received by Specialized Loan Servicing LLC. I will continue to make monthly payments as I work through the matter with Specialized Loan Servicing LLC, as long as they accept my payments.

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