Consumer complaint received 2015-10-10
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
I am writing this letter on behalf of my mother, XXXX XXXX. The loan my mother has with SLS ( Specialized Loan Servicing ) was transferred from XXXX XXXX XXXX in XXXX. Initially I had sent a complaint ( # XXXX ) regarding the servicing and processing of the loan. On XXXX, SLS received {$72000.00} from HHFP ( Hardest Hit Funds Program ) to bring the loan current. This is unfortunate because the money was not applied to the loan immediately but funds were placed in " Unapplied Funds ''. On XXXX {$52000.00} was applied to the account leaving a difference of over $ XXXX difference not being applied to the delinquency but the funds placed in " Unapplied Funds ''. The unpaid principal balance ( UPB ) of the account has gone from {$110000.00} to {$55000.00} to {$110000.00}. On XXXX XXXX, XXXX, all funds were reversed from the account and the UPB goes back to {$110000.00}. Various amounts have been applied to the account as well as various amount from unapplied funds being applied to the account. On XXXX XXXX, XXXX, {$54000.00} applied to UPB of {$110000.00} balance then reduced to {$53000.00}. Between XXXX/XXXX/XXXX and XXXX/XXXX/XXXX the UPB has fluctuated between {$53000.00} and {$53000.00} then on XXXX/XXXX/XXXX the UPB went back to {$110000.00}. On XXXX/XXXX/XXXX all funds were reversed again from the account showing the XXXX as {$110000.00} and not {$110000.00}. On XXXX/XXXX/XXXX {$48000.00} applied to account leaving the UPB as {$57000.00}. During the dates of XXXX/XXXX/XXXX to XXXX/XXXX/XXXX all payments received have been reversed from the account once again. During the period from XXXX/XXXX/XXXX until XXXX/XXXX/XXXX this account has not been brought current. Funds have been received, loan modification documents received and returned to the mortgagee ( SLS ) and yet we are still having the same problem. The statement for XXXX XXXX indicates a past due amount of {$22000.00} and the monthly payment in the amount of {$730.00}. My mother has been making the payments in the amount of {$300.00} as requested by SLS and in accordance with the loan modification agreement signed XXXX yet arrearages continues to generate along with other fees applied to this account by SLS. I telephoned the Executive Services on this date ( XXXX/XXXX/XXXX ) spoke with XXXX # XXXX, I was informed the account was current and that my mother needed to send {$610.00} then loan modification would be in effect and SLS would recast the loan amount accordingly. XXXX stated that there was {$430.00} in unapplied funds which could be applied to the payment and {$170.00} needed to be sent in by my mother to make up the difference for the {$610.00}. I tried to explain to XXXX that my mother had already sent in {$300.00} which was applied to the account on XXXX/XXXX/XXXX and this was the amount in accordance to the Loan Modification agreement with my mother. SLS continues to generate " Notice of Intent to Foreclose '' letters, monthly statements which show an arrearages, perform property inspections and charge {$11.00} to the account ; all of the fees as well as letters are automatically generated because SLS has not calculated the correct amount of money received ( XXXX/XXXX/XXXX ) and posted the corrects UPB. Additional fees have been generated to the account because SLS has been incompetent in correcting this issue going on a year.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation