Consumer complaint received 2022-08-08
Company: Specialized Loan Servicing Holdings LLC
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Due to XXXX, economy, illness and taking on care of XXXX of my grandchildren I fell behind with my mortgage payments. Over past 3 years have attempted numerous times to contact a live person at " SLS '' Specialized Loan Servicing, most often only reaching voicemail and more often than not mailbox was full & call disconnected. On the rare occasion I was able to leave a message no return call was received. During this time I was attempting to correct the situation. Fast forward to XX/XX/2022. In an attempt to bring the mortgage payments current ( at this time XXXX behind ) I was finally able to receive permission to cash out my retirement and cashiers check for {$15000.00} was issued XX/XX/2022 and mailed XX/XX/2022. I received a letter dated XX/XX/2022 from SLS returning the cashiers check uncashed & letter noting " We are unable to accept funds for less that total amount due ''. Following the cashiers check that was mailed I was working to send in the additional funds to meet the reinstatement amount provided from SLS in the monthly statement {$23000.00}. I have to admit, when the letter returning the cashiers check and note only accepting total amount I panicked. I began researching full financing. XXXX XX/XX/2022 I was finally able to locate someone willing to work with me and began the process. I contacted SLS for a payoff quote ( number 1 ) that was never received in email or regular mail. A release was signed with the title company so a new payoff quote could be requested in order to set up the financing and schedule closing. Payoff quote ( number 2 ) was received by title company XX/XX/2022 {$150000.00}. Called SLS XX/XX/2022 to confirm SLS will accept the payoff and asked where/how to send the funds for payoff was assured yes and to follow instructions on the payoff quote. spoke with title company and new payoff quote was requested to line up closing dates. The corporate fees in the payoff quote dated XX/XX/2022 were {$2100.00}, new payoff quote dated XX/XX/2022 the corporate fees jumped {$4600.00} for new total in less than a month to {$6800.00}. Title company asked me to reach out to SLS to attempt to get a breakdown or at least an explanation of why the fees jumped so munch in less than a month. I was shocked ( was able to reach a live person at SLS for the 2nd time ). Called SLS XX/XX/2022 XXXX spoke with XXXX XXXX requested the breakdown, will not provide dollar amount breakdown without written specific detailed request and must be physically mailed only to SLS will not accept a faxed request. The only information I was able to obtain was the following : Foreclosure/attorney fees, Escrow payout, Outstanding accrued fees. It sounded like the jump in fees was from the filing of the foreclosure. During this phone call no payoff quote as requested and financing was moving forward with this quote despite the jump in fees. At time of this call the payoff quote was good through XX/XX/2022 with the increased fees. It was later discovered sometime after the phone call with XXXX XX/XX/2022 XXXX an employee with SLS processed another payoff quote that was NOT requested by myself or the title company. On XX/XX/2022 XXXXand I called SLS and spoke with XXXX and transferred to XXXX and advised if the issues to day with payoff quote dates and who/when requested, advised of closing documents signed/notarized XX/XX/2022 with payment processed according to the payoff quote, notified SLS/XXXX the SLS has to honor the payoff quote, per XXXX unless the additional fees are included from the most recent payoff quote ( SLS employee requested not myself or title company ) the financing would be not be accepted, repeated the payoff quote myself/title company received was good to XX/XX/2022 and closing has been completed with the money transfer, per SLS/XXXX will not be accepted unless the additional fees from new quote are included, finally placed on hold & was transferred to XXXX and all repeated again and escalation case was opened and sent to the foreclosure department and I was instructed to call XXXX for updates/status, assured SLS I will be calling back XXXX eastern ( SLS is mountain time ) for answers as closing was signed XX/XX/2022. Called XXXX XX/XX/2022 XXXX EST spoke with XXXX requested status of the escalation at XXXX call disconnected, called back XXXX EST spoke with XXXX for update was advised not notes no update has been posted only email in process, advised would call again in morning. Called SLS XX/XX/2022 XXXX EST spoke with Renette had to go back over all of the same information from setting up the escalation and asked for update and had to repeat same information several times, noted the payoff quote I have is good to XX/XX/2022 and closing has already occurred for {$160000.00} per payoff quote, stated I need answers today as unable to stop the process for payment transfer, was transferred again to the foreclosure department escalation team, spoke with XXXX again and had to repeat everything again, still no update email still processing. Called SLS XX/XX/2022 XXXX EST spoke with XXXX requested to be transferred to the foreclosure department escalation team, spoke with XXXX again for status/update, email was processed today, will not honor the payoff quote that was good to XX/XX/2022 for {$160000.00} unless the additional fees from the new quote were included, I advised this was their employee error not my error and told them they need to honor this, it was repeated must follow their process and must go by most recent payoff quote, this repeated several times and I became frustrated instead of becoming update or nasty I advised would be calling again Monday XX/XX/2022 to speak with someone else. As of XXXX EST unable to reach anyone at SLS , calls go to voicemail box that is full. Summary : SLS refusing to honor payoff quote, SLS refusing to admit employee error. Note : With the financing I was able to obtain there will be absolutely no profit or payment to myself.

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