Consumer complaint received 2016-03-01
Company: Specialized Loan Servicing Holdings LLC
State: WI
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account

Complaint:
On XXXX/XXXX/XXXX, my mortgage servicer ( XXXX ) notified me the rate on my ARM was going up to 3.625 % from 3.25 % and my payment as of XXXX/XXXX/XXXX would be {$940.00}, up from {$910.00} the year before. On XXXX/XXXX/XXXX I got notice from XXXX that they would no longer be servicing my mortgage. All payments due on or after XXXX/XXXX/XXXX were to be paid to Specialized Loan Servicing ( SLS ). Nothing else would change. So I sent XXXX 's payment due XXXX/XXXX/XXXX to XXXX on XXXX/XXXX/XXXX and they received it XXXX/XXXX/XXXX. I have copies of the cancelled check. XXXX 's payment has been received and verified by XXXX. XX/XX/XXXX my wife called SLS to verify our account number, payment amount and where to send it since this was our first payment to them and we did n't have a statement from them yet. They verified the account # and address but the amount due was now {$58.00} higher per month, up to {$1000.00}, even though nothing was supposed to change and the interest rate was still the same. I have a letter from SLS stating " No other terms of your note and mortgage will change ''. My wife went back and forth with them on this a little bit before I got involved. When I did I asked for an amortization schedule showing how they arrived at this new amount totaling an additional {$700.00} per year. Numbers do n't lie. Amortize {$180000.00} over 290 months at a rate of 3.625 % with a payment of {$1000.00}. It wo n't work. They sent me an amortization schedule with the wrong balance because they are saying I did n't make XXXX 's payment and they used a rate of 3.25 % with a payment of {$910.00}! Since then I have spoken with XXXX or XXXX representatives from SLS. Not one of them can tell me where the additional {$58.00} comes from. I pay my own insurance and my own property taxes. They have never said that was where the additional monthly amount came from. They go to talk to a supervisor and then they rush me off the phone. I have sent them a qualified written request for information in the form of an email and I have not gotten a response. I have since been told my account in delinquent and that they have not received XXXX 's payment. I have informed them multiple times that it was sent to XXXX and that they need to contact them if they think it belongs to them. They have not. They still say it is delinquent and that I have not made a payment since XXXX. The week of XXXX XXXX I received XXXX letters of intent to foreclose, so I sent them XXXX types of proof of my payment to XXXX, I sent them the interest rate increase notification with the new amount and rate and the copy of their letter stating nothing will change, I sent them XXXX 's and XXXX 's payments for {$940.00} each, so I am current until XXXX XXXX. Today they sent a photographer out to my house to proceed with the foreclosure. I have not received any communication from them whatsoever other than threatening to foreclose for payments I have not missed. They offered to modify my loan and stretch out my mortgage with lower payments. Which I think is one of their intentions ; to re-write my loan. I do n't need lower payments. I need an honest mortgage servicer that is not trying to steal my home. My loan to value is about XXXX %. This has moved from a notice of a delinquent payment to foreclosure at lightning speed. About 4 weeks, maybe less. Especially when I have n't missed a payment. Now they likely wo n't cash XXXX 's and XXXX 's payments because they consider them partial payments even though I sent documentation that {$940.00} is the correct amount. No one calls me back or even acknowledges me. I can no longer attribute treatment like this to incompetence. I think something criminal is going on. For one, they will make money on my home based on loan to value. They have never contacted XXXX for XXXX 's payment. Four weeks from " delinquent '', which I am not, to foreclosure!? Unheard of!

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