Consumer complaint received 2022-02-26
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage

Complaint:
I have a 1st mortgage with another lender and am current on that mortgage. I took out a HELOC with XXXX for {$300000.00} on XX/XX/XXXX. I worked in the mortgage business. When the market crashed, I reached out to other reps to find out who was going to take over my loan. No one knew who was going to service the XXXX HELOCs. I later lost my job, my husband was injured and I stayed home to care for him and did not research or get any notices in the mail with new lender information. After years of no correspondence regarding this equity line, on XX/XX/XXXX, I received a NOTICE OF DEFAULT recorded on XX/XX/XXXX in my county. I called XXXX XXXX XXXX XXXX. that was listed on the NOD. They said they were part of Specialized Loan Servicing, LLC and they had been trying to get a hold of me for " years. '' The man said that he saw that last year I was offered a " loan modification with 0 % '' I signed the agreement and my husband, XXXX XXXX " signed the agreement '' and " never made one payment. '' He made me feel irresponsible. I told the representative I hadn't heard from anyone regarding this equity line since XXXX and I asked what the date was on the agreement. He told me " he didn't need to get into details and I was like everyone who always calls at the last minute once they're in foreclosure. '' I told him I never received a new mortgage statement and got a chance to make a new payment to be in foreclosure and asked him to send me a copy of the mortgage modification. He said that he would send a copy and that he wanted me to know that each day that passes " thousands of dollars are added to the debt. '' He said that I owed {$610000.00}. I could not understand how I could owe so much. I later researched that with a title company and found that there was an Assignment of Deed of Trust ( for the XXXX Home Equity loan from XX/XX/XXXX ) to the XXXX XXXX XXXX XXXX XXXXXXXX recorded on XX/XX/XXXX. I realized that it was not true that SLS had been " calling and sending '' me " notices for years. '' It was not true that a " loan modification with 0 % was signed '' by me and my husband " last year with zero payments made. '' I felt very betrayed and in disbelief that a mortgage company could act so unscrupulously. I sent them a " Qualified Written Request '' to Specialized Loan Servicing , LLC to find out how they determined the $ XXXX owed on XX/XX/XXXX. There has been no response to my request. I have only received a copy of the original XXXX Home Equity Line of Credit from SLS. There has been no account/payment history, copies of inspections, nothing else received. I only received a payoff statement with the amount of {$300000.00} good through XX/XX/XXXX but then received a reinstatement statement of {$620000.00} good through XX/XX/XXXX. I did not understand the discrepancy with the amounts owed. I never applied for assistance and I then received a trial loan modification agreement dated XX/XX/XXXX with a down payment of {$180000.00}. I still can not get a transaction history from Specialized Loan Servicing and can not understand how a Notice of Default was recorded during the first 60 days of a transfer of servicing and negative credit reporting has occurred before I received my first mortgage statement from Specialized Loan Servicing. I believe that Specialized Loan Servicing, LLC, XXXX XXXX XXXX, XXXX and XXXX XXXX XXXX XXXX XXXX  XXXX have violated federal credit laws and there has been servicing abuses including but not limited to improper fee charges, inaccurate account statements, misrepresenting facts, falsely representing amounts owed they have unfair and deceptive practices in debt collection using abusive language and false information to intimidate and harm me and furnishing credit reporting agencies with customer information they knew was incorrect.

Company response to consumer: Closed with explanation