Consumer complaint received 2019-10-16
Company: Specialized Loan Servicing Holdings LLC
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I closed on my home on XX/XX/2019. My loan was with XXXX XXXX XXXX XXXX. I received a letter dated XX/XX/XXXX informing me that my loan would be serviced by XXXX XXXX XXXX  XXXX XXXX  as of XX/XX/2019. 

On XX/XX/XXXX I received a letter from XXXX XXXX XXXX XXXX XXXX letting me know that as of XX/XX/XXXX they would no longer be servicing my loan. Instead, XXXX XXXX   XXXX would be my new servicer. 

On XX/XX/XXXX, I made my first mortgage payment to XXXX XXXX XXXX in the amount of {$1200.00} to my account number XXXX. 

My actual mortgage payment is {$1100.00}, but I like to pay more towards the principal so I paid an additional {$99.00} toward my principal balance. 

My actual principal payment is XXXX When I closed on my home on XX/XX/2019, my principal balance was {$170000.00}. After my first payment on XX/XX/2019, XXXX XXXX   reflected my principal balance as XXXX ( this was correct ) On XX/XX/2019 I received notification from XXXX XXXX  that XXXX XXXX XXXX will no longer be my servicer. Instead, XXXX XXXX partnered up with SLS - specialized loan servicing LLC to service my loan effective with my XX/XX/2019 payment under account number XXXX. 

I attempted to open my account with SLS/XXXX, but it proved to be very challenging since these two entities have different web sites. I contacted customer service representatives on multiple occassions from both XXXX XXXX  XXXX as well as XXXX and SLS to try to open my account with whoever my new servicer was. Finally, an SLS representative assisted me in opening my account. At this point it was into the second week of XX/XX/XXXXwhen I was able to open my account. 

When I opened my online account with SLS I noticed that the balances for my pricipal and my escrow did not match what XXXX XXXX XXXX  had. I contacted customer service from both banks on multiple days for several weeks to try to resolve this matter. 

Turns out, XXXX XXXX XXXX  unapplied my additional principal payment before they sold my loan to XXXX/SLS. So XXXX/SLS has {$99.00} of my money in an " unapplied '' line item. I have called and spent lunch hours, after hours, hours that I could be spending with my family, days, writing and calling customer support. I have used the message feature on the SLS web site and corresponded with representatives. Both over the phone and in the message feature, representatives have admitted that the balances are incorrect. Yet, the company refuses to update my balances to the correct amounts. 

I have requested the names of senior executives, managers, supervisors. I have asked to be contacted by these folks. I have asked to be transferred to these folks. I have asked that the proof I have sent and documentation I have sent be forwarded to someone in accounting so that they can verify what I am saying is true. I have asked XXXX to contact XXXX XXXX XXXX  to verify what I am saying is true. I have asked XXXX XXXX XXXX to contact XXXX to verify what I am saying is true. 

Yet, nobody, and I mean nobody has contacted me. Nobody has updated my balances. and I called customer support again today and the representative tells me that I need to send her proof of what I am saying even though I have sent the proof. 

I have been humiliated and have been made to feel as if I am a liar. I am not sure what CFPB is all about, but I sure hope that you are able to investigate this to the fullest exetent. 

We are talking about {$99.00} in principal and {$270.00} in escrow. It is not much, but to the average person trying to pay their mortgage it is a lot. It may not constitute legal action towards these institutions or maybe it does, but at the very least I need my balances to be accurate. What if it was the other way around?? What if I decided I wanted to show my balance less then it actually is? Oh, I would face late fees, penalties, fines, foreclosure, etc. These institutions inaccurately record balances and they have no consequences??? 

I really hope you all can help me!! Please let me know what documentation you need, where to send it to, and let 's start here. 

Thank you, XXXX XXXX XXXX XXXX XXXX XXXX/SLS account number - XXXX XXXX XXXX XXXX account number - XXXX Beginning balance - {$170000.00} Escrow payment - {$270.00} Principal payment - {$230.00} Interest payment - {$650.00} Total monthly mortgage payment - {$1100.00} XX/XX/2019 payment - {$1200.00} ( {$1100.00} + {$99.00} additional toward principal ) XX/XX/2019 payment - {$1200.00} ( {$1100.00} + {$99.00} additional toward principal ) XX/XX/2019 payment - {$1200.00} ( {$1100.00} + {$99.00} additional toward principal ) Principal balance should be = {$170000.00} Escrow balance should be = {$2500.00}

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