Consumer complaint received 2023-08-14 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Struggling to pay mortgage — 
Company: Specialized Loan Servicing Holdings LLC
State: MD

Complaint narrative:
Subject : Urgent Complaint Regarding Predatory Practices by Specialized Loan Specialist To Whom It May Concern, I hope this letter finds you well. I am writing to file a formal complaint against Specialized Loan Specialist, regarding the unethical and~ predatory practices I have experienced in my interactions with their company. I have attempted to resolve these issues through various means, including contacting credit reporting agencies, Specialized Loan Specialist representatives, and third-party debt collectors, but my situation remains unresolved and has worsened over time. 

My ordeal with Specialized Loan Specialist began in XX/XX/2022, when I faced financial difficulties that led to late payments on my mortgage. Despite my best efforts to address the situation promptly, I found myself in a cycle of frustration and deception perpetuated by Specialized Loan Specialist. I would like to outline the key points of concern : Misleading Information and False Documents : Since XX/XX/2022, I have consistently received false information and documents from Specialized Loan Specialist. This includes incorrect reporting of late payments on my credit reports, which has had a detrimental impact on my credit score and overall financial health. Moreover, I have received documents that contain inaccuracies and inconsistencies, further complicating the resolution process. 

Refinancing Challenges : In an attempt to rectify the situation, I explored the possibility of refinancing my mortgage. However, due to the inaccurate reporting of late payments and the misleading documents sent by Specialized Loan Specialist, my efforts to refinance have been repeatedly thwarted. This has not only hindered my ability to regain financial stability but has also caused undue emotional distress. 

Lack of Transparency and Accountability : Despite my numerous attempts to address these issues by contacting Specialized Loan Specialist representatives, credit reporting agencies ( XXXX XXXX, XXXX XXXX, and XXXX XXXX ), and third-party debt collectors, I have been met with a lack of transparency and accountability. The false information provided by Specialized Loan Specialist, combined with their unwillingness to acknowledge their mistakes, has only exacerbated the situation. 

Unfair Loan Terms and Threat of Foreclosure : Instead of offering viable solutions to my predicament, Specialized Loan Specialist has presented me with high-rate or balloon-rate options, which are clearly designed to exploit my vulnerability and financial distress. This further solidifies my belief that they are engaging in predatory practices. What is even more concerning is the fact that they are now coercing me into foreclosure, leaving me with no recourse but to take legal action. 

In light of these circumstances, I kindly request the Consumer Financial Protection Bureau to investigate my case thoroughly. I am seeking justice, accountability, and resolution from Specialized Loan Specialist. I urge the bureau to take swift and appropriate action to rectify this situation and prevent others from falling victim to such predatory practices. 

Due to the number of papers " 75+ '' or more, I am more than willing to provide any additional information that may assist in your investigation. via XXXX  or 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