Consumer complaint received 2021-04-14 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Specialized Loan Servicing Holdings LLC
State: NY

Complaint narrative:
XXXX XXXX : XXXX XXXX LOAN ( XXXX ) ~SLS LOAN ( XXXX ) RE : FRAUDULENT XXXX XXXX/XXXX XXXX/SPECIALIZED LOAN SERVICING INVESTORS HOME RETENTION GUIDELINES I contracted a 30 year mortgage loan of {$540000.00} with XXXX XXXX in XXXX guaranteed by the United States Government agency , Fannie Mae/XXXX XXXX to purchase a house in New XXXX , NY XXXX. 
In XXXX, XXXX XXXX secretly sold my mortgage to a private Investors, XXXX without informing me ; until XXXX when I came to find out from Court Documents from XXXX XXXX. 
I protested then, and was informed by XXXX XXXX that it would not affect me adversely and was the usual practice in the industry. XXXX XXXX elected to keep the role of Loan Servicer, after selling my loan to XXXX Investors. 
The borrower discovered recently that XXXX XXXX unilaterally sold my loan to XXXX Investors so as to remove the US Government agency, FANNIE MAE/XXXX XXXX guarantee that protect me against hostile predatory practices, without informing the borrower, and benefit from the CARES ACT and other provisions to alleviate the sufferings of Americans due to the Pandemic. 
The borrower would have elected to refinance the loan from another lender with the cover of the US government guarantee through Fannie MaeXXXX XXXX and benefit from the CARES Act ( para. 7 of Exhibit ) In XX/XX/XXXX, XXXX XXXX transferred the loan servicing, to Specialized Loan Servicing ( SLS ). XXXX XXXX also transferred my application for loan modification to SLS. 
SLS approved a strange retention program, which added a new balloon loan of {$380000.00} to the existing mortgage ( bringing the total loan to {>= $1,000,000} compared to the original loan of {$540000.00} ; and recall {$520000.00} had already been paid by the borrower towards the repayment of the mortgage ) as a condition for signing and extending the loan repayment from 30 years to 40 years. 
The borrower could not sign the so called approved retention program ; without the removal of the additional loan of {$380000.00}. 
In view of this anomaly, the borrower raised a petition to CFPB in XXXX, XXXX. 
In the response to CFPB dated XXXX XXXX, XXXX ( see Exhibit attached ), paragraph 7, SLS stated that : 1 ) The Cares Act and other applicable United States Acts to protect consumers are not applicable to this loan, because it is no longer owned or guaranteed by a government entity- Fannie Mae/XXXX XXXX . It is now governed by the Investors Guidelines-XXXX XXXX  XXXX, XXXX XXXX, as Trustee  for XXXX XXXX XXXX XXXX  XXXX XXXX, XXXX XXXX. 

XXXX XXXX The XXXX Investors guidelines have their tailor made modification that does not consider income or expenses in the review process unknown to the borrower. Meanwhile the borrower was made to submit their documentation on income and expenses in the loan modification application.

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