Consumer complaint received 2017-06-23
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Debt collection
Sub-product: Mortgage debt
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
I had a HELOC with Specialized Loan Servicing with a balance of approx. {$72000.00}. In XXXX of 2016 I mailed them a check for {$12000.00} to bring the balance to about {$60000.00}. They cashed my check. Shortly after I received a phone call from SLS asking me if I wanted to continue the interest only period and if I did I should overnight the one page letter they sent in the mail. I signed it and sent it in. This is where things went bad really fast. I called SLS when asking them what is my payment for the next month because the statement they had sent me was for the old balance. The first person I talked to said that my account was late. After insisting that it was n't and they had cashed my check I got transferred to executive services where the person I talked to on the phone assured me that everything was fine. For some reason SLS pulled the {$12000.00} out and put it in an " suspense account '' and the confusing thing is I got the uneasy feeling by the answers I was getting executive services did n't know either. Nevertheless, Executive services assured me that my account was in good standing and I was n't late. I asked what is my payment and they told me if I can remember correctly about {$360.00}. The next month I waited for my statement and it never came. I called SLS again and went through the same routine. The first person I talked to insisted that I was late! I asked to be transferred over to executive services and again they assured me that everything was alright and that I need not worry. Another month passed and the same thing happened. I was getting pretty upset, no statements being sent, waiting on the darn phone only to talk to someone insisting that I have n't made a payment yet they are cashing all my checks and I have no statements to actually tell me what my actual payment is. While this is going on they are reporting be as delinquent on my credit report. I have had this HELOC for 10 years and never been late. I check my account online and the math of what they were doing I would need to bring XXXX back from the dead to help me figure it out. I received in the mail a cancellation letter of the letter they asked me to overnight to them and they said that offer is no longer good and that I sign another one to send to them for extending the interest only period. It never said sign this paper and we will XXXX up your credit and make your account look like a bunch of monkeys got a hold of the computers in their billing dept. I sent a complaint to the BBB. The responses and new accounting look nothing like the ones I printed out online. It seems they are attempting to remedy this but the answers they give are just not true to what happened or what they did. I repeatedly responded to them to review the phone conversations I had with the billing dept and the executive services calls. They sent BBB a different list of subtractions and additions of fees for this and that during the 4-5 months I had been trying to get this issue fixed. Recently I had had enough and refinanced my house to get away with this shady company. I was supposed to have been sent a over payment back ( {$710.00} ) according to the latest response to BBB but none was ever given to me. I am currently looking to join a class action lawsuit if one is out there against the poor accounting and business practices performed by this company. This is a true case of one hand not knowing what the other is doing and it caused me a many sleepless nights. This company needs to either clean up its act or go out of business in my opinion.

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