Consumer complaint received 2017-08-14
Company: Specialized Loan Servicing Holdings LLC
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Reinstatement of complaints # XXXX and # XXXX Closed by your agency without resolving the issue that SLS increased my mortgage payment to {$2400.00} illegally, after receiving {$300.00} to cover an escrow shortage to avoid an increase in the mortgage monthly installment. As stated in my first and second complain per SLS response to the agency on paragraph four of their XX/XX/XXXX, they conceded that they received on XX/XX/XXXX the escrow shortage of {$300.00}. Their XX/XX/XXXX letter instructed me to pay the shortage of {$300.00} to maintain the payment of {$2400.00} for P & I and Insurance ( P & II ) or opt to accept a higher monthly payment of {$2500.00}. Their XX/XX/XXXX letter instructed that if I opted to pay the lump sum I had to pay separately the {$300.00} from the P & II of {$2400.00} to avoid an increase in monthly payment to {$2500.00}. Following their instructions, I opted to pay separately the lump sum of {$300.00} to cover the escrow shortage and paid the {$2400.00} to cover the P & II. Again in paragraph four of their XX/XX/XXXX letter they conceded that they received the escrow shortage payment separate and the payment of the P & II separate both within the grace period for the payment at issue in XX/XX/XXXX. I followed their instructions, if they allocated the money incorrectly is out of my control. The issue here is that once I paid the escrow shortage in a lump sum of {$300.00}, my P & II was supposed to stay as {$2400.00}. Please see the attachment of their XX/XX/XXXX in which SLS asked for {$300.00} for an escrow shortage. At that time my payment was {$2400.00}. To aovid the monthly increase, I paid and they received {$300.00} escrow shortage within the grace period on XX/XX/XXXX, the grace period extends to the XXXX of each month. However, the monthly payment was increased to {$2500.00}. and then adjusted to {$2400.00}. What justify the increase? SLS have not explain that, SLS only states that my monthly payment is not {$240.00}. I refute that, once I paid the escrow shortage, no increase in monthly payment is legal nor justified. However, SLS is still raising the P & I to {$2400.00} from {$2400.00}. In addition, SLS is requesting as collectible {$87.00} to satisfy shortage alleging that I underpaid because I paid {$2400.00} in XXXX. This is incorrect. Once I timely satisfied the {$300.00} escrow shortage on XX/XX/XXXX, the P & II payment is suppose to stay at {$2400.00}. SLS does not dispute that they received the escrow shortage of {$300.00} and have not explained the increase of the monthly mortgage installment. The lump sump was specifically to cover any escrow shortage and avoid increase in the monthly mortgage installment. In addition, SLS embarks in predatory lending with an interest rate at 7 %. For years I have tried to lower my interest with them specially during the time that the interest rate was less that 3 %, but they refused. I am XXXX XXXX veteran, I have very good credit, I need your help. I 'm looking forward to hear from you and please do not close the complaint before resolving the issue in my favor. I may be reach at XXXX.

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