Consumer complaint received 2018-02-12
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I checked complaint XXXX and the CFPB has closed the complaint based on the loan servicer 's statement that they need more time to review. 

That should not have happened as the original complaint has not been resolved. 

In the first week of XX/XX/XXXX we received a notice from Specialized Loan Servicing ( SLS ) that our payment would increase substantially. We had recently collected our file back from legal counsel ( bankruptcy ) and mentioned the letter. He referenced the loan modifications on file ( one from XX/XX/XXXX and one from XX/XX/XXXX ). Both modifications were made through XXXX XXXX - the original loan servicer. On XX/XX/XXXX a copy of the executed Fixed Rate Loan Modification Agreement with Deferred Principal was submitted to SLS. On XX/XX/XXXX I spoke to Customer Service person XXXX @ SLS. I was informed that we were owed a substantial amount of funds and that there was an " open ticket '' at that time. In follow up an email was submitted through SLS ' website dated XX/XX/XXXX. This memo noted that XXXX was not posting payments correctly to their website and requested that they correct the errors as we have made on time payments since since bringing the loan current in XX/XX/XXXX. SLS responded on XX/XX/XXXX stating they can't adjust the account until the " review of the modification documents you submitted is completed. A turnaround time is not available ''. On XX/XX/XXXX another emails was submitted to SLS via their website requesting the status of the open ticket. On XX/XX/XXXX SLS responded with " The information pertaining to the modification from the prior servicer is being worked on but there is no ruther update available at this time ''. On XX/XX/XXXX I talked to XXXX at SLS Customer Service. She informed me that the previous loan modification has to be sent to the Dispute Department. On XX/XX/XXXX a Memo was faxed to the Dispute Department with copies of the above referenced correspondence. On XX/XX/XXXX an email was received from SLS stating " We apologize for any inconvenience ; however no updates are available at this time regarding the modification from the prior servicer ''. SLS is the fourth loan servicer that our account has been assigned to. My wife and I have been making on time voluntary payments beginning XX/XX/XXXX. We have been paying {$2400.00} per month as that was the payment reflected in the loan servicer 's website. When we received the payment change notice from SLS in XX/XX/XXXX it was a surprise. When I reviewed the terms of the XX/XX/XXXX loan modification it said the payment was to be {$2100.00}. I immediately pointed this out to SLS as we have over paid the amount by over {$18000.00}. SLS has had the document for review since XX/XX/XXXX. They keep saying it is under review and there is no time horizon for completion of their review. I called on XX/XX/XXXX and was referred to XXXX at XXXX XXXX. She promised to review case and get back to me by XX/XX/XXXX. To date, she has not contacted me. Over this last weekend we received a letter from SLS stating our loan was delinquent. This causes us great concern as it would appear that SLS is not dealing with us in good faith. SLS was notified that a complaint would be made to the CFPB on this day. Thank you XXXX XXXX. 

On XX/XX/XXXX SLS states " The referenced documentation you submitted was received and under review with the appropriate department '' On XX/XX/XXXX SLS stated " The information pertaining to the modification from a prior servicer is being worked on but there is no further update available at this time ''. 

On XX/XX/XXXX SLS stated " We apologize for any inconvenience ; however no updates are available at this time regarding the modification from the prior servicer ''. 

On XX/XX/XXXX SLS stated " Our records the account is currently under review to verify the terms of the modification. At this time we do not have an update ''. 

I filed complaint XXXX which CFPB closed because SLS said they needed more time. They have had over 6 months to review 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