Consumer complaint received 2023-04-30
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — 
Company: SN SERVICING CORPORATION (NJ)

Please see below the timeline of events that have occurred. I am very upset and frustrated as SN Servicing is refusing to conduct an interior appraisal on my property. In addition, they have also come up with a value that is ridiculously high for the property as it needs a lot of work and they have no comparables or justification for that value as they have refused multiple times to conduct their own appraisal. 

They made me pay for my own appraisal from a third-party licensed appraiser and still refused to accept the value that was determined. They then went as far as saying that they would prefer to just foreclose on my property and fix it and flip it themselves. 

The reason I fell behind on my payments was that I got ill and had XXXX and was not able to work. This whole situation is absurd and now that I am trying to fix it, they have been very uncooperative and have not abided by the guidelines that are set forth to protect consumers like me. Had it not been for the CFPB and the public Regulation X guidelines I would have never known that I was being taken advantage of by SN Servicing. 

I am finally able to fix my situation as well and have cooperated through out the process and did all the correct things by listing the property and getting an offer that can fix my situation now SN does not want to cooperate and have no basis or proof to their argument as they would rather just foreclose on me. 


XX/XX/XXXX XXXX XXXX said that they would prefer to foreclose on the home and repair it and sell it themselves. 

XX/XX/XXXX We discovered that there is a XXXX tax lien and SN servicing or the note investor does not want to pay for it. 

XX/XX/XXXX We received an offer however, with the tax lien it is not enough to close. 

XX/XX/XXXX : 3rd party appraisal was denied - bank wants to net $ XXXX - Need to determine next steps. 

XX/XX/XXXX : Received new appraisal - emailed and faxed to SN Servicing XX/XX/XXXX : Received response back from XXXX @ SN Servicing Value is internal - Bank is needing a counter of $ XXXX net. Asking for our offer. Appraiser is working on revising the appraisal tonight. 

I let XXXX at SN Servicing know that we have a 3rd party appraisal and asked where to send. 
You can send to me but again it does not guarantee that the investor will change their stance. 


XX/XX/XXXX : Received the following email from XXXX at SN Servicing Corp This short sale offer was denied and countered at $ XXXX net. 

Replied back to her asking her what value her counteroffer was based on. 




XX/XX/XXXX : Emailed SN Servicing if they have an appraisal, and received the following response. 
* We do not provide appraisals. It is the homeowner 's responsibility to have their own home appraised. 
. 


XX/XX/XXXX : Emailed XXXX the following Updated offer of $ XXXX XXXX  XXXX w/o relocation assistance XX/XX/XXXX : Received an email from XXXX Hello , Upon review - we need the following errors corrected. The HUD form needs to be signed. No relocation funds to the borrower - these funds need to be going to SN. Commission cap at 5 % split. Is this the highest offer you have? Please see the payoff requested attached. 
Thank you, XXXX XXXX XX/XX/XXXX : The appraisal is in the XXXX XXXX that we conducted on our own ( $ XXXX ) Spoke to the Seller to update him before the weekend that all docs have been submitted. SN refused to conduct their own independent appraisal. 



XXXX XXXX : Emailed and Faxed the following to SN Servicing and the single point of contact XXXX THIRD PARTY AUTHORIZATION PAYOFF REQUEST REQUEST FOR MORTGAGE ASSISTANCE BORROWERS FINANCIALS REALTOR LISTING AGREEMENT BUYERS PURCHASE AGREEMENT BUYERS PROOF OF FUNDS XXXX / SETTLEMENT STATEMENT XX/XX/XXXX : Called SN Servicing, they still do not have the results from the attorney yet. Called Foreclosing attorney and the sale did NOT go through. 

XX/XX/XXXX : Called SN Servicing - Foreclosure Results requested and not back yet. 

XXXX Need to re-submit a full package XX/XX/XXXX : Bankruptcy Docs to bring to court on Monday to get the auction Stayed XX/XX/XXXX : Received an email from an assigned specialist at SN Servicing XXXX - Hello, The investor will not review as we have a sale date set for XX/XX/XXXX. Thank you, XXXX XXXX XX/XX/XXXX : Got my XXXX filled out. Emailed Short Sale Package to SN Servicing. Missing recent 2 months bank statements, 2 months pay stubs. 
Emailed and Faxed the following to SN Servicing THIRD PARTY AUTHORIZATION REQUEST FOR PAYOFF REQUEST FOR MORTGAGE ASSISTANCE XXXX REALTOR LISTING AGREEMENT BUYERS PURCHASE AGREEMENT BUYERS PROOF OF FUNDS BUYERS MEMBER DOCS XXXX SETTLEMENT STATEMENT XX/XX/XXXX : Got Foreclosing attorney info - Foreclosure scheduled for XXXX XX/XX/XXXX : Prepared list of needed items for XXXX XX/XX/XXXX : Received an email from XXXX XXXX Asset Manager - That she received the ATR and Payoff Request. 



XX/XX/XXXX : Emailed and Faxed the following to SN Servicing Corp THIRD-PARTY AUTHORIZATION Payoff Request Missing XXXX XXXX  XXXX XXXX Pay Stubs, Bank Statements , Tax Returns, Buyer POF, Buyer Member Docs, XXXX