Consumer complaint received 2017-09-01 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Specialized Loan Servicing Holdings LLC
State: CA

Complaint narrative:
SLS LN XXXX XXXX XXXX XXXX, XXXX XXXX CA XXXX XXXX XXXX Short sale was started with SLS on XXXX/XXXX/XXXX. An offer for $ XXXX was submitted. A BPO was completed by SLS and the offer was countered to $ XXXX. 

We submitted the following value dispute documents on XXXX/XXXX/XXXX : XXXX. Letter from Buyer regarding property condition 2. Contractor Bid from XXXX XXXX 3. Contractor Bid from XXXX XXXX XXXX 4. Plumbing Bid from XXXX XXXX 5. Contract or Bid from XXXX XXXX XXXX 6. Site Investigation Report -- - this was an evaluation done by an independent third party 7. XXXX XXXX County Records Search 8. Photos showing damage This information resulted in a counter offer of $ XXXX. A fully licensed appraiser was hired ( not by SLS ) to complete an appraisal by a Licensed Appraiser. ( SLSs valuation was done by a BPO agent not a licensed appraiser. ) ****This appraisal came back at $ XXXX. 


The following items were submitted via fax to SLS on XXXX/XXXX/XXXX and XXXX/XXXX/XXXX. These items were also emailed to SLS on XXXX/XXXX/XXXX. 

1. All of the items above, sent on XXXX/XXXX/XXXX XXXX. Appraisal ( done by a fully Licensed appraiser ) 3. Market Comparables showing sold comparables pricing in low $ XXXX range My conversation with the SLS rep today, XXXX/XXXX/XXXX, indicated that SLS has deleted several items from the faxes and emails, namely the Site Investigation Report. ***SLS HAS WILLFULLY DELETED DOCUMENTS that have constituted the Valuation Dispute package we have submitted. THIS IS UNACCEPTABLE. 


Furthermore, the BPO agent, XXXX XXXX, has already been involved in several cases of valuation fraud in regards to other valuations he has completed. He is an REO agent and it is obvious that he commits this fraud in order to secure the listing ( and the subsequent commission fees ) from the servicer after the foreclosure. 

We have had these same valuation issues with the property at XXXX XXXX XXXX XXXX also serviced by XXXX. This is another short sale we are working on where XXXX XXXX has willfully commited valuation fraud. Please see attached letter from the Listing Agent on this property which outlines each material fact that XXXX XXXX has omitted from his valuation of the property on XXXX XXXX XXXX ( NOTE : there are SEVEN MATERIAL FACTS OMMITTED BY XXXX XXXX on the valuation for XXXX XXXX XXXX alonethe biggest issue being that it is a mobile home and he is calling it an SFR ) Also please see the photo of the pool, which he completely omitted from his valuation. ( XXXXXXXX XXXX was provided with all information regarding the condition of the home and he has purposely omitted these items from his valuation. ) We currently have both State and Federal complaints filed against XXXX XXXX on this property alone. -- -See attached for Deerhorn : 1 ) Interior BPO done by XXXX XXXX , 2 ) Letter to XXXX from the Listing Agent, & 3 ) photo of pool. 


Secondly, due to the issues with XXXX XXXX valuation of the property at XXXX XXXX XXXX, we have become aware that XXXX XXXX is currently involved in a pending lawsuit on another property with this same buyer. 


Im very surprised that SLS would use someone being sued for Valuation Fraud.
We at XXXX XXXXXXXX XXXX have come across three separate valuation fraud issues with XXXX XXXX in the last month alone. These can not possible be the only complaints against him in this state.

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