Consumer complaint received 2019-11-20 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — 
Company: Specialized Loan Servicing Holdings LLC
State: CA

Complaint narrative:
On XX/XX/XXXX I took out a home equity line of credit for {$46000.00} from THE XXXX XXXX XXXX XXXX. Within 11 months on XX/XX/XXXX, XXXX XXXX XXXX XXXX filed bankruptcy. 
From the start of my loan, my loan documents and payment coupons were sporadic and unattainable. I made numerous requests and was always told they would get back to me. Because of the financial meltdown and the bankruptcy, I actually went approximately 6 years without any correspondence from XXXX or anyone else. I was unable to make any payments at that time simply because I was never told how much or where to send the payment. Around mid XX/XX/XXXX, I was contacted by a company called Specialized Loan Servicing regarding the loan and was provided with a structured payment agreement. The verbal agreement between us allowed me to make minimum payment and in return they would not foreclose. The stated intent was to help get me get back on my feet financially so that I could start making normal payments. We continued to amend the payments as I continued to improve my income. I have made every agreed upon payment and when I finally got to a point that I could make the normal payment, they surprised me with a bill for the entire delinquent balance of {$24000.00} to bring the loan current. When I called to inquire about the bill they said there was nothing they could do. I have complied with all of the agreed upon payments per their requirements. 

On XX/XX/XXXX I agreed to a final payment structured payment agreement that stated : " FOR THE NEXT 6 MONTHLY PAYMENTS ( TEMPORARY PAYMENTS ) BEGINNING ON XX/XX/XXXX '' Payment : {$150.00} Monthly Payment Date : XXXX day of month 1st Plan Payment Due Date : XX/XX/XXXX Term : 6 Months Further stating : " At the end of the above 6 month period, you agree that your payment obligations will continue to be due and owing as stated in your Note., Security Instrument and other loan documents. Your payment of any of the Temporary Payments detailed above is your consent to the terms of this Agreement ''. 

This letter regarding the payment agreement is attached and my conversation with XXXX XXXX detailed my final modified agreement before returning to the original payment agreement as stated in the Note, Security Instrument and other loan documents. That is exactly what we talked about and he specifically said my payments would be reset upon completion of the six month agreement. I have now realized that the unfair and deceptive language in the Limited Term Payment Agreement was actually structured to trick me into making extra payments. I asked about all of the payments I have made continuously after they finally contacted me and was told they did not count as an agreed payment schedule per the note. 
1. I have paid the agreed upon payments early each and every month and did so up until the end of the agreement in question which was completed XX/XX/XXXX. 
2. The following payment on XX/XX/XXXX would convert to the payment " as stated in the Note ''. 
3. OnXX/XX/XXXX I received a letter from Specialized Loan Servicing demanding an immediate payment of {$24000.00} by XX/XX/XXXX 
4. On XX/XX/XXXX I called Specialized and wanted to know why they were not honoring their Limited Term Payment Agreement. I asked for the amount of the new monthly payment and was told by XXXX, the customer rep, that was not an option. XXXX then tried to explain to me and a friend, that is familiar with mortgage agreements, that the statement in the Agreement really didn't mean what it stated. When I protested the answer I was turned over to supervisor named XXXX, ( who refused to give his last name ), that told us that they were not interested in our interpretation of the unfair and deceptive language in the letter. As we pressed the verbiage in the letter, XXXX simply said we would see their decision in " what happens next '' .. 
5. On XXXX XXXX, I received a notice of intent to foreclose because of payments continually missed from XX/XX/XXXX. Failure to bring the total amount due ( XXXX ) by XX/XX/XXXX may result in acceleration of the entire balance outstanding. 

Specialized Loan Services has used unfair and deceptive language in the Limited Term Payment Agreement to persuade me to continue making payments knowing full well that I was being set up for a foreclosure action. The final conversation and promise made to me was nothing more than a trick to set me up for failure. When I made all of the six payments and then asked for the new monthly payment amount they used the unfair and deceptive clause in the Limited Term Payment Agreement to accomplish the true goal of forcing me to fail in protecting my home. 

Specialized Loan Servicing has violated nearly every lender protection law in the US including RESPA, Loan Collection Service rules, Fair Debt Collection Practices and State foreclosure laws in CA. by : 1, Not honoring the attached Specialized Loan Servicing Limited Term Payment Agreement that was explained to me by XXXX XXXX. I relied entirely on the verbal agreement I made with them when they new they were setting me up to fail. 
2. Not providing me with loan statements each and every time we made a payment agreement. I have never received loan history report when requested at every agreement we have made over the last seven years. I have never received a tax statement declaring the interest payments made over the last 7 years. If the payments weren't interest, what were they? If the funds were not loan related but servicing profit, then Specialized is guilty of even more deception. Shouldn't this be disclosed as a RESPA fee if it is not an interest item. Lenders include servicing fees in the interest charged and then retain the excess interest charge as a servicing fee. Am I paying this fee twice if the servicing agent is charging a secondary fee for service. The demand for the balance shows deferred interest which would include servicer fees. Isn't it lender responsibility to pay the servicer? The servicer demand to payment shows deferred interest. 
3. The payments certainly can't be late charges if I have honored the agreed upon modified payment amount. If that is the case, am I paying late fees twice. 
4. By not providing me with a statement each and every time the interest rate changed on the variable rate loan. 
5. By operating in fashion of a Predatory Lender using unfair and deceptive tactics by knowing full well that I would not be able to pay the amount due in the letter XX/XX/XXXX when the Limited Term Payment Agreement was agreed upon. I have provided them with financials at each and every agreement we have made. They know I can not afford to pay the {$24000.00} demanded by them. 
6. I have honored every commitment to the first mortgage and the second mortgage since the financial meltdown. My income has dropped considerably but my obligations have been met as per the lenders agreements while in loan modifications. 
7. Specialized Loan Servicing has accepted every modified payment I have made to them from our first agreement to the final agreement XX/XX/XXXX 





Complaints against Specialized Loan Servicing LLC SLS, According to XXXX XXXX XXXX XXXX XXXX XXXX  lists 359 complaints closed against SLS in the past three years, with 126 in the past 12 months. Only 38 of these complaints have been resolved to the satisfaction of the complainant. Many of the complainants indicate that their mortgages were sold without their consent, and that SLS institutes new methods of distributing mortgage payments that result in increased interest rates, missed payments, late fees, and reports of delinquencies on their credit reports. The 63 negative reviews allege openly abusive customer service and fraudulent business practices. XXXX lists at least 50 cases of civil litigation naming SLS as a defendant. 
If a payment modification is made, accepted and honored, then how can I be considered delinquent? 
I am not asking for anything but for Specialized Loan Servicing to honor the Limited Term Payment Agreement of XX/XX/XXXX. I am prepared to make the normal payment as per the original term of the note. I am also asking for an as agreed payment history since I have made payments for the last 7 years per my agreements with them. There is no justification for Specialized Loan Servicing 's explanation for default. All terms and conditions agreed upon over the last 7 years have been met, otherwise they would have foreclosed years ago. My goal is to save my home. I can not afford to start over at XXXXyears old. 

XXXX XXXX XXXX

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