Consumer complaint received 2020-03-10
Company: Specialized Loan Servicing Holdings LLC
State: UT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My loan was originally serviced by XXXX XXXX XXXX ( XXXX ) and all of my payments were made on time and with no issue. I set up a bi-monthly payment schedule with them and configured by bank account to automatically send these payments the previous month so that the money would all be there by the due date. For example, {$850.00} of the payment due XX/XX/XXXX would be sent on XX/XX/XXXX, and another {$850.00} would be sent XX/XX/XXXX, completing the funds required to make the XX/XX/XXXX payment. 

On XX/XX/XXXX, a letter was sent from Specialized Loan Servicing ( SLS ) stating that my loan had been transferred to them and they would be collecting my mortgage payments beginning XX/XX/XXXX. Since this letter was created after the transfer date and I didnt actually receive the letter until the following week, I had already made 2 payments in XXXX that were sent to XXXX XXXX. I called SLS and they assured me that any money sent to XXXX XXXX would be forwarded for the next 60 days from the XX/XX/XXXX transfer date and no late fees would be incurred. All of the payments I made starting XX/XX/XXXX were made to SLS and they have all been on time. 

From the minute they received by loan SLS has made an absolute mess of my account and I have tried to get these issues corrected over and over to no avail. On XX/XX/XXXX, I faxed a copy of all my bank payment records to SLS and asked them to please fix my account to reflect all payments. I got no response. In XX/XX/XXXX I contacted XXXX XXXX with Utah Consumer Credit and Compliance who opened a case to work with SLSs compliance coordinator to try to get this resolved. Again I got no response from SLS, but within 30 days I did receive a statement that showed that SLS had fixed the late fees and made some adjustments to my payment history. My account wasnt completely fixed but it was better than before, and I assumed it was still in the process of being worked on. As the months passed the problems still continued and past due payments started showing up on the monthly statements again. In an effort to resolve all possible confusion, I took the advice of one of their representatives and changed my payments from bi-monthly to just one payment a month starting XX/XX/XXXX. Not surprising, nothing was fixed and my payment history was still a mess. 

At one point I asked if SLS could provide me with a record that showed all the payments they have received from me. This document is the biggest accounting disaster I have ever seen and only an SLS internal guru would be able to decipher their postings. I have attached a copy of this document for your review. Good luck. 

I decided to send another letter to SLS ( I emailed it as well this time, just to be safe ) in XX/XX/XXXX. In the meantime, I decided to try to make sense of the payment records they sent me. I was able to recognize that the very first payments on record looked off, so I called XXXX XX/XX/XXXXXX/XX/XXXX. They sent me a spreadsheet showing the last few payments before the transfer and I realized that XXXX had incorrectly applied the last payment made to them entirely to principle. 

I few weeks later I actually received correspondence from SLS. It had a copy of a letter they had composed back in XXXX in response to the Consumer Credit and Compliance investigation. I never received this letter originally, but it contained a statement that confirmed what I found about XX/XX/XXXX inaccurate payment posting. It also stated that they feel they have accounted for everything appropriately and they are justified in assessing the late fees and reporting late payments to the credit reporting agencies. 

I called again on XX/XX/XXXX with the intention of going through every single payment I show Ive made. I spoke with 3 different representatives and they all said they didnt have the ability to do that. I asked if I could make an appointment to sit with someone in person, even if it meant having to fly to their office to do so. I was told that they dont do that either. I asked if they would send me another statement showing all the payments they can see that Ive made. As of today, almost 2 months later, I still havent received anything from them. I have tried to get this info online but when I try to login to my account it gives me an error message saying that since my account is past due I need to call them. I have no idea what else to do now. 

I provided them with actual bank confirmations of exact dates and amounts that prove that I have never missed or made a late payment, yet they can continue to say that my account is behind, take thousands of dollars in late fees, and ruin my credit score, hindering my ability to secure other financing options. There are several class action lawsuits against this company and their XX/XX/XXXX XX/XX/XXXXXX/XX/XXXXrating is an F, with XXXX  complaints closed just in the last 12 months! 

I would greatly appreciate anything you could do to help me get this resolved. Thanks in advance for your help.

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