Consumer complaint received 2016-01-20
Company: Specialized Loan Servicing Holdings LLC
State: LA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
I have had a HELOC product for the past 10 years for a rental property. The loan was originated by XXXX XX/XX/XXXX. Over the course of the loan, the servicing has been performed by XXXX, XXXX and now SLS. I have paid the loan in a timely fashion for the past 10 years. I have made the payments on-time and have never missed a payment, nor had a delinquent payment over the course of the loan. The loan 's servicing was recently sold to SLS over the past 9 months. Unbeknownst to my husband and me, the loan matured XX/XX/XXXX. I was never notified of the pending maturity, nor received a pay-off statement in the mail. 
I contacted SLS XX/XX/XXXX to make my monthly payment, as I was unable to sign-in online. I was told from the servicing representative that the entire loan balance had matured. I stated to the representative that I had never received any communication from them. The servicing representative indicated that the documentation was forwarded to an address that I no longer maintained, and had not maintained for over 30 months. The previous servicing agent ( XXXX ) had the correct mailing information on file, as I previously received my bill on a monthly basis with no issue. I was told that when the servicing transferred that I should on my accord contact the servicer and provide them with a copy of my driver 's license and address. As this information was not communicated to us, how would we know? 
As I did further research, my credit report now reflects that I have been past due since XX/XX/XXXX. I am unclear as to why they are showing the XX/XX/XXXX payment as past due. As I previously indicated, I have NEVER had a past due payment on the loan for over a period of ten years. I am willing to pay the HELOC balance in full ( $ XXXX ) ; however, I would like the lender to correct the false, negative information that is being reported to the main XXXX credit bureaus. Additionally, both the lender ( XXXX ) and their vendor ( SLS ) need to ensure that correct information is maintained and properly integrated when servicing rights are transferred and/or sold. Proper due diligence regarding vendors may ensure that this process does not negatively impact the consumer. If we had been properly notified, as required, we would have had a better opportunity to make the necessary arrangements to complete the pay-off prior to maturity ; however, we never received any communication. 
I have asked the servicer for a copy of the pay-off statement, so I can forward them the funds. I am not in-receipt of the pay-off statement and am unclear where/how much funds that I need to forward. Daily I receive calls from their debt collectors demanding full payment. I ask them to check their servicing notes within the customer 's file. I have indicated than I am willing and able to pay, but I just need a pay-off statement. 
XXXX XXXX XXXX *********** XXXX XXXX XXXX ***********

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