Consumer complaint received 2016-10-06
Company: Specialized Loan Servicing Holdings LLC
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan modification,collection,foreclosure

Complaint:
Due to hardship and business loss due to a criminal partner - indicted and later charges dropped due to the defendant 's high level friends, and the loan officer who was the son of then state Senator - and my nearly {$2.00} XXXX loss in assets, and indebted to guarantee on the loans of {$1.00} XXXX, I was unable to pay off the total HELOC - I applied for mortgage assistance with Specialized Loan Servicing and they proceeded only to collect documents and over a prolonged and inefficient ( and intentional ) 4 plus months, I sought another refinance source. The note was due XXXX XXXX, XXXX, and after roughly 2 and half months to that point, I sought alternative mortgage source. I received advisement from XXXX and XXXX XXXX mortgage officer, and was at threshold of a successful refinance, having negotiated and resolved XXXX judgements from the North Carolina business within 40 days, and yet during this actual and productive effort, Specialized Loan Servicing had, after XXXX plus months of " collection and review '' declared me as DECLINED and delinquent - even WHILE I was at the threshold of a successful refinance with XXXX XXXX with the very same data and documents presented to SLS. So SLS dragged the " modification '' effort LONG over the maturity date, AND subverted my successful refinance with alternate sources through XXXX XXXX. They have left me NO alternative while they try to force foreclosure instead of truthful and competent and efficient counsel and " hardship mortgage assistance '' per their false presentation. 
Also, at no point was any correspondence over email as they do not want ANY exchange in writing that can be reflected on as SLS inducements - while on XXXX separate incidents I was encouraged " If you pay a little in principal, you will probably get the modification because your loan is only interest only '' ; and another occasion, " You will probably qualify for XXXX of XXXX solutions, modification, restructure or ( do n't recall the XXXX ) '' .... so encouraging a needy and nervous citizen to stay with their cumbersome and abusive process. 
I am income producer, the home has XXXX XXXX appraisal per mortgage notes, I have NEVER MISSED ANY PAYMENTS OF ANY KIND, and I offered a reduction of principal if it would help. I was qualified for a refinance after XXXX XXXX advised a resolution of the NC business judgements, which I resolved within 40 days. I had efficiently with REAL assistance, resolved these matters and was at the brink of successful refi and ready to cure the outstanding HELOC - and SLS through their intentional and burdensome process, and absolute failure at assistance, declared me delinquent and left me unable to refi and cure this matter. 
I have since sought the help from XXXX sponsored XXXX XXXX XXXX XXXX in a 3rd party effort at a loan restructure. This effort has just begun as XXXX XXXX has initiated the effort as of Tuesday XXXX XXXX. 
SLS had already declined a first appeal. 
I am clearly NOT a risk as I have overcome great business hardship, I have personalcash assets to assist in any efforts I must perform, I and wife have a two year averaged {$9.00} plus XXXX per month income .... We have NEVER MISSED A PAYMENT OF ANY KIND. SLS did not assist us as they sought only to have me grovel through a futile document collection to only hang me out past my maturity date, then decline me. 
It is worthwhile noting too that SLS prompted all of this " delinquency '' effort in XXXX XXXX with a " assistance application package '' mailed me and a phone call declaring ( falsely ) that I had missed a payment and was delinquent. It was not true. So they initiated under false pretenses a " delinquency condition '' that did not then exist. But EVERY effort sice has been simply designed to carry me over maturity date and a delinquency that they could then act on - using folds of regulatory process. CFPB must STOP this sort of operation.

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