Consumer complaint received 2016-04-27
Company: Specialized Loan Servicing Holdings LLC
State: NC
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
I initially had a CONSTRUCTION LOAN with XXXX XXXX XXXX ( loan # XXXX ) until XXXX XXXX XXXX acquired the bank, along with the loan ( loan # XXXX ). I had issues with this loan with XXXX XXXX XXXX but rather than resolve them, they first put my home in foreclosure only to later Voluntary Dismiss the foreclosure and then reportedly " transferred '' it to SLS ( loan # XXXX ) as servicer for XXXX, XXXX in trust for XXXX XXXX XXXX XXXX XXXX XXXX ( investor # XXXX ). However, the same problems/issues with the loan before the " transfer '' are still present. Instead of SLS resolving them they have put my home in foreclosure. Specifically my complaints are of the following : ( 1 ) States on the foreclosure that I had received all requests prior to foreclosure when I had not. ( 2 ) Total debt amount of {$820000.00} as stated on Foreclosure Notice exhibit B is incorrect. SLS has stated in its correspondence that it is going by the Adjustable Rate Note but is n't. Instead, SLS is going by terms of an ambiguous Loan Modification initiated by XXXX XXXX XXXX and carried out by SLS. In this Modification it states that it amends and supplements the Note and the Mortgage Deed of Trust recorded on XXXX XXXX, XXXX. I have not I received a copy of a Note or Deed of Trust recorded on XXXX/XXXX/XXXX that this Agreement amends. Also, I do n't see where this " Agreement '' nullified/cancelled the terms in my original Adjustable Rate Note where it states " I will pay principal and interest ''. ( 3 ) SLS was being deceptive when sending a copy of the Loan Modification Agreement in that they initially sent me a supposed copy but after examining it, I noticed that the signature page was actually of photocopy of the signature page of the Note. When I pointed this out to them, they stated they had a Notarized copy which they did send but even on this one it states there are XXXX pages but I only received XXXX. Also, since it was not recorded this " document '' is dubious since SLS has already shown that the pages can be manipulated/changed. ( 4 ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX Law Firm are both acting as Substitute Trustee and filed XXXX separate foreclosure hearings on XXXX/XXXX/XXXX. The XXXX scheduled by XXXX Law Firm as Substitute Trustee had been cancelled by a phone call from them to the Clerk of Court office but the XXXX scheduled by XXXX XXXX XXXX XXXX XXXX as Substitute Trustee had not been. My lawyer stated that clearly there is an issue as to who the Substitute Trustee actually is and asked for a dismissal of the Foreclosure. The Clerk of Court stated, " That 's not how we do it here '' and gave him a post-it-note with a handwritten phone number on it and instructed him to call it. The phone number was for XXXX XXXX Firm. ( 5 ) SLS sent a " Trial Period Modification Plan ''. But there is no actual modification or agreement to review or discuss. This " Plan '' asks for a total of {$27000.00} and did not specifically say what they would do with the money nor does it obligate SLS to actually having to give me a modification if I did send them the money. It was not drawn up like an agreement in that it did n't state what it would be modifying, terms of the modification, principal owed, amount of interest rate, nor did it have a place for signatures as you would expect in an agreement. It appears to be a rouse to show the Clerk of Court that they are attempting to help us and to justify a delay in the Foreclosure Hearing. ( 6 ) In a SLS correspondence also dated XXXX/XXXX/XXXX, XXXX states it had reviewed my application for a foreclosure prevention option and on one part of it stated that I was denied a Standard Repayment Plan because " Review of your financials indicates that a repayment plan is not affordable ; therefore, you are not eligible for a repayment plan. '' I have not sent SLS any financial information to be denied.

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