Consumer complaint received 2017-03-14
Product: Mortgage — VA mortgage
Issue: Loan servicing, payments, escrow account — 
Company: Specialized Loan Servicing Holdings LLC (CA)

On XX/XX/XXXX, my XXXX veteran husband and I closed on a VA fixed rate Mortgage, 30 year, 3.75 % Refinance from XXXX. We were greatly relieved, as our expensive ARM first mortgage and looming Balloon second mortgage with XXXX ( originally a XXXX ) had finally ended. 
On XX/XX/XXXX, XXXX wired to XXXX the full payoff amount of {$270000.00}. On XX/XX/XXXX, XXXX transferred the loan to SLS ( Specialized Loan Servicing ). XXXX subsequently forwarded the same payoff amount received from XXXX to SLS. SLS received the pay off amount on XX/XX/XXXX. SLS kept the funds until XX/XX/XXXX, when the payoff funds were returned to and received by XXXX. ( SLS claimed that the payoff amount was not accurate due to a shortage of Tax or Insurance Disbursement. XXXX has stated that there are no taxes or insurances owed as all taxes and insurances were included in the original payoff amount. In disagreement, SLS continues to charge an additional per diem rate of {$53.00} to the date of the receipt of the shortage. ) Subsequently, on XX/XX/XXXX, XXXX returned the full payoff amount to XXXX/XXXX. 

As directed by XXXX, my husband and I have made a XX/XX/XXXX, payment in the amount of {$2100.00} to XXXX, then a XX/XX/XXXX, payment in the amount of {$2100.00} to XXXX ( XXXX ) service provider. SLS claims that we, the homeowners currently owe them {$10000.00} as of XX/XX/XXXX, in principal, interest, escrow and fees. By no fault of ours nor due to our negligence, SLS is preparing to report us as being in default to all credit reporting agencies and in time, foreclose on our home. Since XX/XX/XXXX, I have made numerous calls to XXXX and have set up conference calls with one supervisor or another at both XXXX and SLS, attempting to discover or resolve wired money dates, payoff dates, returned payoff amounts and their dates, and SLS 's claim of an original insufficient payoff amount. To add additional harm to us, SLS will be increasing their mortgage interest rate from 7.375 % to 7.5 % effective XX/XX/XXXX, thus raising the monthly payment they are demanding from {$2500.00} to {$2500.00}. 

It is our belief as the homeowners, SLS could have resolved this matter by accepting the original, timely and accurate payoff amount received from XXXX and originally sent by XXXX. SLS agents empathized with our dilemma, expressed that it was logical and would be easily resolved by SLS. This left us to hope that all that was needed was another phone call or two to finalize a timeline misunderstanding between loan service providers. Our hope kept us calling and waiting to hear back from SLS. SLS 's expected return calls never came. 

XXXX stands by the original payoff amount and even stated today, XX/XX/XXXX, that SLS was required to accept within a 60 Day window the original payoff amount received by SLS on XX/XX/XXXX. SLS has continued to refuse to do so. BoA also stated that they are under no obligation to ask SLS to honor the original payoff. SLS informed me that their accepting the original payoff amount had expired before XX/XX/XXXX, the date of one of my calls placed to them. 
Please help us resolve with XXXX and SLS, acceptance of the original XXXX payoff amount, {$270000.00} ; SLS 's current claimed past principal/fees/escrow/current principal debt of {$10000.00} ; XXXX as the mortgage servicer of our VA mortgage and any and all other existing issues. We ask that you please prevent and/or assist with rectifying the reporting of detrimentally damaging credit to the national credit bureaus ; stop rapidly this increasing debt, and prevent possible foreclosure on our home of eleven years.