Consumer complaint received 2016-05-24
Company: Specialized Loan Servicing Holdings LLC
State: AR
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
On XXXX 2016 I sustained weather damage to my residence. My insurance company issued a check for the repairs in my name/lender. I contacted Specialized Loan Servicing damaged property department on the procedure in getting the check endorsed by their company. The representative gave several documents that was required, to do list, that was needed with the check. I mailed the check endorsed by husband and myself with the to do list documents via federal express. I verified the check and documents received by the loss draft department which was received on XXXX XXXX, 2016. I waited several days after not receiving anything in the mail to make contact with the loss draft department of SLS. The representative told me I was missing the XXXX items which was the contractor 's waiver of lien and the signed copy of contract. I explained to the representative that this document was not apart of the to do list given by the first representative. The asked about the procedure again to be sure I understood what to expect next. The rep. stated my check was deposited into an account and once the check cleared a check would be made payable to the contractor and myself. I asked about the interest on the check and she stated its deposited into a non-interest bearing account, so no interest is paid to me nor to the lender. I stated, that really did n't sound like accurate information but.. whatever. I forward the XXXX outstanding documents to them to release the check. I once again verified receipt of the documents, received on XXXX XXXX, 2016 by loss draft dept. I did a follow-up call with SLS, loss draft department again on XXXX XXXX, 2016 informing them the work will be completed on the XXXX and funds needed to be released. I also requested the final inspection from their inspector since the rep. informed me it would take two weeks to get an inspector to sign off. The rep. informed me i would be getting the funds via fedex and provided me with a tracking #. I did not get the funds on the XXXX as promise so another call made on Monday XXXX to XXXX office XXXX XXXX. I explained my problem to his assistance that I 'm trying to get funds released to pay my contractors and not getting any cooperation from Loss Draft Dept. She forwarded me to Executive Services to be told that Loss Mitigation ( Draft ) department is not their area and could not help me. I make another call to XXXX XXXX office today XXXX and was told the same thing that XXXX XXXX can not retrieve my loan information and can not help me. I called Loss Draft to inquire once again about funds. I told them the money was debit from my impound account on XXXX XXXX, 2016 ... why have n't i received the funds? It has been since XXXX XXXX until present XXXX XXXX, 2016, I cant get funds released and no interest on a very large deposit to SLS account. 
SLS, Loss Draft Dept. is making a large return on other individuals insurance claim checks. Where 's the interest on my insurance check and where are my funds?

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