Consumer complaint received 2020-03-13 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — 
Company: Specialized Loan Servicing Holdings LLC
State: CA

Complaint narrative:
To whom it may concern : XXXX was the originating lender of our Home Equity Line Of Credit ( HELOC ) Loan Account in the beginning, this product was offered, marketed, lured and insisted to us by XXXX Financial Officer, who has committed a number of fraudulent transactions, hence he got fired. XXXX was involved in so many illegal loan originations, MERS related issues which was publicly announced, litigated in court, and has brought XXXX XXXX XXXX to shut down and was acquired by XXXX  XXXX XXXX. 

We paid our monthly into XXXX. When XXXX shut down and was taken over by XXXX  XXXX XXXX sometime in XX/XX/XXXX-XX/XX/XXXX, we have sporadically received monthly statement and we paid into as well, however, when Specialized Loan Servicing took over, then since XX/XX/XXXX we have not received any monthly statement. While I focused in on my husband who had a XXXX in XX/XX/XXXX, and my daughter who got XXXX in XXXX. I had no idea where our HELOC loan went. 

Last balance I know was $ 40,000+ with XXXX XXXX XXXX . 

In XX/XX/XXXX, SLS sent us a demand letter to pay {$120000.00}. Then in XX/XX/XXXX, sent us a demand letter with the total amount of {$110000.00}. Then immediately they filed a foreclosure in XX/XX/XXXX. 

I called SLS and asked them if I can apply for a Loan Modification, the person I spoke with said Yes I can and then I received in the mail a Letter with Loan Modification packet dated XX/XX/XXXX ( attached ), sent by XXXX. 

I completed and I sent out all the documents and waited, but then someone ( a guy ) called me and said " SLS will not even accept any application for Loan Modification on your account because we need to get paid or it will be foreclosed ''. I was in distress, as this guy threatened so much that I felt harrassed. 

I called again and spoke to XXXX ( the assigned representative ), only then when I found out from her that the information they have was wrong. I have a 1st mortgage with XXXX, and in SLS my balance recorded in their system was $ 560K+ and in their record the value of my primary home is $ XXXX, so they are counting the eggs in their baskets which I felt like they are intentionally doing because they thought there is gold in our primary home that they can fish. 

I corrected XXXX and told her with respect that my 1st mortgage payoff balance is $ XXXX at that time ( I will attach the payoff quote if possible in this complaint ). So XXXX realized their system 's mistake and advised me to make an offer of at least $ 40K. Being injured at work and on XXXX  XXXX right now, I just can not produce this amount to save our home, so I offered the amount of what I can possibly afford $ XXXX payable in 3 years, SLS denied it, I offered $ XXXX for 60 days, they denied it, and my final offer of $ XXXX as the difference of $ XXXX less 1st Mtg of $ XXXX is about $ 25K, and I offered that payable in 6 months, but they denied again, and XXXX 's supervisor ( I forgot her name ) talked to me and said, we won't accept any offer below $ 80K. It is when, I decided to write a QWR because I am confused at how they are accounting for my true debt. 

I also asked XXXX why SLS did not send me monthly statement since XX/XX/XXXX ( only 1 closing statement I received was XX/XX/XXXX attached ) with new balance of {$120000.00}, so that at least I could have paid the monthly, she said and her supervisor confirmed as well that it is because my property has no value that they can go after and also I was protected by bankruptcy chapter XXXX. 

Currently, Specialized Loan Servicing is the servicer of the subject propertys Heloc Account. We dispute the amount that they claim as owed according to the Monthly Billing Statement and I requested that they send us information about the fees, costs, and escrow accounting on our loan from the origination date until today, I sent them a Qualified Written Request ( QWR ) on XX/XX/XXXX ( Priority Mail, I requested a signature with Return Receipt ( green card ) ), this QWR I had written and notarized on XX/XX/XXXX. According to USPS it will be delivered on XX/XX/XXXX. ( A copy of my QWR is attached. 

Today, XX/XX/XXXX Friday, I have not received any acknowledgment from SLS that they received my QWR. In my research they are supposed to send me an acknowledgement letter within 5 days of receipt of my QWR. 

I am writing this complain to seek your help in investigating how they erroneously threatened me and setup my house for foreclosure using the unverified information they have on my 1st Mortgage Balance. It is so sad, that the SLS Collection Arm would harassed me because their eyes were looking at the massive profit based on their wrong unverified information. I would not be surprised that they have miscalculated my debt as proven by their XX/XX/XXXX statement bearing {$120000.00} vs Default Notice and Notice of Intent to  Foreclose dated XX/XX/XXXX with the amount to cure the arrears of {$84000.00} ( attached ). 

Please help as this is our primary home, I just wanted to exert my rights against this SLS financial giant who does not have the heart to help families like mw.

It is my prayer that CFPB will be able to help me in getting SLS comply with the US programs on preserving American Homes to be saved for the homeowners as their primary home. 

Thank you so much in advance. 

Sincerely, XXXX XXXX To date, the documents and information we have received from XXXX XXXX XXXX XXXX, XXXX  XXXX XXXX, XXXX and Specialized Loan Servicing and our escrow files including subsequent records do not answer many questions. Any refusal to answer our request will be considered a predatory servicing or lending and servicing schemes.

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