Consumer complaint received 2019-04-15
Company: Specialized Loan Servicing Holdings LLC
State: CO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
XX/XX/2019 CFPB Re : Misleading Offerings by Mortgage Servicing Company I initiated a complaint with the Consumer Financial Bureau of Protection ( CFBP ) on XX/XX/2019 regarding a discrepancy created by the servicing company SLS ( located at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, Colorado XXXX ) and misreporting information, offering confusing terms via mail and not abiding by those terms without explanation and purposely preventing my ability to refinance with another company to take advantage of a lower interest rate. 
The loan number in question is # XXXX CFPB Case # XXXX I have responded to the incredulous response from your customer advocacy group to the CFBP, which is littered with misinformation and contradicting SLSs own terms and explanations in the response to my complaint, which needs further investigation. The CFBP stated it as a closed matter, albeit, it is not closed what so ever, the financial institute is continually paralyzing my ability to refinance by reporting incorrect data on their internal systems and credit bureaus. When you read their response ( SLS ), you can see their contradictions in writing, I was thoroughly the CFPB didnt read those closely enough to identify the ambiguous remarks by their own hand. 
In this letter, you will find SLS has purposely engaged in false statements in print and also verbally ( recorded phone calls with customer service representatives ) via phone exchanges. 
My goal is and has always been to make my payments on time, which is imperative to prevent any incorrect credit reporting. 
The mortgage industry conducts a credit supplement when you are closing. This excludes the major three large credit bureaus and focuses on a phone call with the current lender ( i.e. SLS ). It is also the internal data showing that I have not had timely payments due to an error with a Forbearance offering provided in writing to me without a clear definition and left to assumptions. 
With this offering, the terms are vague, ambiguous in nature and so much, their own internal customer service people ( over four of them ) could not understand, explain it or be consistent in what it meant. In the meantime, XXXX XXXX XXXX ( the mortgage company who is trying to refinance my condo under FHA guidelines ) can not get a clean payment history because SLS has purposely misled me into a payment system that reflects I am late and refuses to correct their internal system on the XXXX payment miscommunication which has still not been explained to me in writing why they keep asking for a payment, when I followed the terms of Forbearance ( Document A ). With that said ; I am more than willing ( as I have said before ) to make a double payment to pay for the misleading terms of SLS Forbearance plan which was not followed by company protocol or explained in detail at the time it was issued ; SLS has a duty to examine the efforts made by the consumer to abide by all terms before and after, efforts made to resolve the issue which was blocked by their own internal processes, resulting in one entity suffering the damages, the consumer. Now, I am unable to exit this high interest rate at a whopping % 8.37, which is incredulous. It seems the investor of this loan and SLS have purposely outlined an ambiguous terms of agreement which the servicer could not decipher and explain to the consumer ( Me ), resulting in a missed payment and now is resulting in a cycle of 30 day subsequent missed payment reporting because the terms were not clear or met. 
The terms of the loan were to be re-addressed with a payments on the back end, explained to me by SLS. When the time was concluded of the Forbearance, it went into a late payment effect. 
Since XX/XX/2019 I have tried numerous times, letters, faxes that were continually off-hook and cancelled, calls and enduring hang ups, 20+ minutes on hold and some conversation times are longer phone time with customer service reps without any resolution. My efforts are clear from my XXXX phone bill and the outrageousness of this non-communication. The one minute calls outlined in the XXXX bills are hang-ups from SLS, sent to mailboxes without anyone to answer or identification. 
I see the following as a solution : If the Forbearance plan is not to add the payments that were allowed to be missed to the end of the loan, then I will pay them with an agreement in writing that SLS will correct the internal system reporting and also correct to all three credit bureau reporting. 
For SLS to take the responsibility of misleading terms and not providing context to the consumer on how to correct the problem. 
For SLS to review that it has taken me XXXX to XXXX to get this resolved ; in the meantime they keep charging me 8.37 % interest on a loan I should have had paid of on XX/XX/2019, which was my close date with XXXX XXXX. In the interim, they have kept reporting my subsequent payments late, because they show I am a month behindwhich I, in GOOD FAITH have tried excessively to get an answer and offered numerous times to make the XXXX payment, even though those were not the terms. Their customer service rep recording specifically says NO, I would not be late if XXXX was not paid because that was the agreement. 
I would also like to be reimbursed for the difference in the interest rate delta from the current interest rate I am forced to pay vs. the interest rate I was about to close on with XXXX XXXX. I have had to pay that delta for two months now. 
SLS to reimburse me for the appraisal I paid for with XXXX XXXX and have been denied due to the error created by SLS. The amount of the appraisal is {$550.00} In this complaint you will find : 1. The initial offering of Forbearance from SLS.

2. Documented phone calls, explanations and responses to and from SLS.

3. The initial complaint to CFBP.

4. The response to CFBP from SLS and the contradictory statements their own response to the initial Forbearance plan offered.

5. The purposeful roadblock they are creating to keep the loan at a % 8.37 rate for the investor, rather than abiding by terms they applied which would allow me to refinance with XXXX XXXX.

6. My phone bill showing SLS is deceiving the CFBP and reporting false statements in their rebuttal.

7. My interest rate with XXXX XXXX  and approval until SLS created this error. 
8. My payment history meeting their own terms offered was met before XX/XX/2019. 

I look forward to resolution to this tangled web of chaos and consumer fraud and somewhat extortion. 

Regards, XXXX XXXX XXXX XXXX

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