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Specialized Loan Servicing [SLS]
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Specialized Loan Servicing [SLS]
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1.6 114 Reviews

Specialized Loan Servicing [SLS] Complaints Summary

18 Resolved
96 Unresolved
Our verdict: With Specialized Loan Servicing [SLS]'s very poor resolution rate, careful consideration is needed. Research their service comprehensively, and read up on how they handle customer disputes. If you face issues, be prepared for potential challenges in obtaining resolutions and explore other service providers as backups.
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Specialized Loan Servicing [SLS] reviews & complaints 114

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Newest Specialized Loan Servicing [SLS] reviews & complaints

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8:06 pm EST
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Specialized Loan Servicing [SLS] [censor] and theives

If anyone here has to deal with these [censor], good luck! My loan was transferred from select portfolio to these clowns for servicing. I have never seen so many
Stupid fees and rude people in my life. I recently refinanced my first loan and had to pay three different ignorant fees with them!
If you ever try to make a payment, other than with a personal check, they charge you for everything, and claim that it is fees charged by western union! First
Of all, if you are a loan company, why in the hell are you using western union? Even if you try to pay it over the phone or online, they cahrge other extravigant
Fees. They are only interested in getting rich on the backs of the american consumers! I filed a complaint with the better business bureau, and they act as if they can do nothing about these crooks!
If you have a choice, never ever do business with these ###s! If I ever manage to have enough money to pay these idiots off, I certainly will! And if I need to contact a lawyer in the process, that I will do, as well.

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CAKath
, US
Jan 08, 2018 6:31 pm EST

My mortgage was through another company and was current. My husband passed away in early 2015 and shortly after I began getting calls from SLS asking for him. Since I had no idea who they were i would just say he was unavailable and ask them to speak to me instead. They refused and hung up on me. This went on several times a week for months and i finally stopped answering their calls. Soon the calls were almost daily leaving messages for my husband on my answer machine. Finally after two years I called the company and after speaking to several clueless people I got someone who asked me a couple of questions and determined they had been calling the wrong person...for 2 years! They were trying to reach someone with the same name. All that time they wasted, theirs and mine, because they insisted my husband was the only person they could speak to. I remember thinking I was lucky I didnt have that mortgage company.
In October 2017 I got a letter from my loan company that they were transferring my loan...to SLS. After waiting over a month for info from them, no welcome letter, no statement...nothing, I finally got in contact them thru their website and made my payment which by this time was late, resulting in late charge and $9.95 fee to make my payment thru Western Union. I doubt very much that western union is involved at all, just another way for them to make a few bucks.
I am worried about having to deal with this company. Why do we not have a say in the loan company we are being transferred to? I've been hearing so much bad stuff about them, i worry that i will have problems too. As a widow I cannot worry about scams and corrupt businesses.

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john5661
, US
May 12, 2016 1:22 am EDT

sls is the worst loan service that I have ever had in the life of my title chain being broken since day one the mortgadge companeyies have broke my chain of title on my home but they think they own the home and they cant even produce the paper work or the proof of owner or that they even have any business selling the property any way they are going to be bankrupt in time so they will have to prove that they owned the property they sold it is a fraud and I want every one out ther to sue your lender make them produce the note they cant and they don't want to go to court to even try to do that and they wont call and tell all of your relatives and friends tell every one to sue the lender they will be forced to do something to fix the problem instead of trying to get congress to for give what they done with MERS they probably don't even have the paper work on your home and by the way when you were in default on the 91 st day they and a every one got payed by the loan being insured that you payed for so by all right the only ones who should have any say is the insurance co and you payed them so who really should be entitled the home its not the servicer or the bank it is the insurance co check it out and file a quiet title on your home find an attorney to help you and file the lender is not the servicer it is the party that you purchased the home threw make the servicer produce the note saying that they own the home they cant and they have no business collecting the payments either but when they try to steal the home or forclose the property make them prove that they have the right sue them audit the lender and find the predatory lending practices that they committed and sew your lender lets put a stop to all of this matter that the banks own every thing they don't have one nickel that they spent on your property but they are going to steal as many as they can get away with if we let them sue your lender

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10:20 am EDT

Specialized Loan Servicing [SLS] biggest liars

SLS forget to record 4 of the payments that I made throughout 2 years. So when I missed one payment, my house goes into foreclosure right then. they would not except any payment less than 2300.00

They make the mistake of not doing their job of bookkeeping, charge me double fees, then want me to pay for their mistake? right.

This is the second time I have tryed to get modified, (1 year of run around) they won't get back to me on the payment dispute, I sent them proof of payments, they ignore the facts, now selling my loan again for their profits, while my balance goes even higher, or I lose it. SLS needs to be taken down!

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12:07 am EDT
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Specialized Loan Servicing [SLS] how to handle sls in michigan

Here's how to beat sls if you live in michigan

I'm from michigan - so this may not work for those of you in other states, but check into it.
When sls tried to charge fees to close our heloc that they'd bought from gmac, we call the state's office of financial and insurance services, ofis, (www.Michigan.Gov/ofis). We filed a complaint against sls. They tried to explain why they were entitled to charge us "servicing" fees for a loan that had no balance and was frozen (As all heloc's were) due to the mortgage crisis.

During the first few letters, which went through the ofis, the sls agent was arrogant. Speaking down to us as if we were deadbeats trying to get out of the money they were owed.In truth, I think they were shocked that we'd file a complaint over a nominal amount. However, we felt they were wrong for charging us arbitrary fees for services that were never provided. We also felt that contracts protect both parties - not just the lender. Finally, we felt the best way to prevent these abusive practices is to report them.

We held our ground and responded to each letter, still through the ofis agent, by restating our position.
After a few letters and a couple of months, they gave in and closed the inactive heloc without us paying a cent.

Here's where it gets really interesting - the ofis looks at the practices of the agency with each complaint. If they determine a company is engaging in illegal/shady practices - they'll investigate. If they find there's a pattern of inappropriate behavior - they have the authority to pull that company's license.

So, one complaint can level the playing field for everyone!

Best of luck!

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Specialized Loan Servicing [SLS] i'm getting scammed!!

I have been battling with sls for about 7 months. They just put my house into foreclosure after 1 payment bounced. They claim we were 4 months behind allready. However I have proof of all the payments I have made. Sls just conveniently forgot to record 3 of my payments. So according to them, it was time to foreclose. They told me that they would not except another payment unless it was the amount of $2600.00. So I got all my bank statements and proof that I needed, but now the amount that I owe is around 5, 000.00 according to them. I sent them all the proof to the dispute dept. They say it will take around 30 days, well I don't have 30 days left before they sell my house. I know they are wrong, and I don't know how to stop them. My house payments are suppossed to be 583.87, but all my payments vary from 640.00 to 813.00 mostly in the 700.00 range. I have a fixed rate loan. How is this possible? If anyone has any advice for me, please email me.
[protected]@yahoo.com. My name is michele thank you very much.

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melissamathis
Charlotte, US
Mar 05, 2014 4:58 pm EST
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They are over charging you for ESCROW, I contacted
NC Commission of Banks, HUD and NACA. These people are liars and thieves.

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9:47 pm EDT
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Specialized Loan Servicing [SLS] don't trust them!!!

Sls purchased the servicing rights to my loan and changed my loan number in march 10. They told me they wanted to modify my loan. Ok, I told them I had been trying to get help with that for two years with no luck because there was no one investor on the loan the original lender/servicer said it was securitized and nothing could be done. The rep said we just purchased these loans and have not had time to look into which investors will and will not modify... Why don't you let me send you the paperwork
Let me save you the trouble idiot! Hell no!
I said well seeing as you purchased a loan on a home that was filed in chapter 7 and discharged 16 months ago I say good luck to you. She got a supervisor on the phone who asked are you still in the house?

I said yes, please call my attorney if you have any further questions.

Next I get a letter from them saying I do not have home owners insurance. Yes, I do but I am not sending this company anything! I paid for the policy myself.
Next three weeks later I get a notice from my home owners insurance company that someone has changed the loss payee on my personal home owners insurance policy to you guessed it specialized loan servicing.

How can they do this without my permission?

Next I get a notice saying my insurance coverage is to low...

Really I have it for the replacement cost less the land value which would still be here if there was a complete loss.!

I am not talking with these folks I am just collecting everything they send to me and sending it to my attorney. I have no relationship with sls and have no intention in engaging these folks. They are clearly debt collectors who are setting themselves up for one awesome lawsuit!

I will fight them to the bitter end they will not steal my home. Read www.Livinglies.wordpress.com to learn more and save your home from predators like sls!

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Specialized Loan Servicing [SLS] - how the sls scam works

How the sls scam works This is a letter we sent to our attorney to explain how the sls scam works. We are publishing it in the hope that others will better understand what’s happening to them and why its impossible to deal with this company as they have the mentality of looters. May 31, 2010 Our rental house is about to go into foreclosure. We’ve been...

Read full review of Specialized Loan Servicing [SLS] and 63 comments
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Specialized Loan Servicing [SLS] - class action suit

A class action suit is being filed against sls. Any one that have a loan immediately contact your lender, or previous lender and request a copy of your loan. Check your signatures, make sure your file such as signatures or promissory notes, are not altered. Ask your previous lender, who owns your loan. If you are a victim of fraud immediately contact...

Read full review of Specialized Loan Servicing [SLS] and 181 comments
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Specialized Loan Servicing [SLS] pre-payment penalty scam!

Our gmac home equity loan (heloc) was recently transfered to specialized loan servicing (sls). Reviewing our loan information on the sls website, we noticed "pre-pay penalty: y". I called to see, and was told that is the "default" option for loans? They also had the length wrong too.

Check your paperwork! If you do find an issue give them a call, but be prepared to talk with the rudest people ever! (other than allstate adjusters).

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Jmsantilli
Sterling Heights, US
Jul 19, 2011 12:53 pm EDT
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Yep...I live in MI and back in 2007 I too had to get the OFIS involved for SLS to modify my loan from a 2/28 ARM that adjusted up to 10.1% upping our 1st mortgage payment by $300 per month. Wanted to get a fixed rate to keep our house. It took several calls and letters back and forth from OFIS and SLS along with missing our first payment ever on our mortgage by 15 days to get those ### to modify our loan. It is now 2011 and we are suing them for a fraudulent loan (original lenders out of business since 07 but SLS took on our loan as is) Had our loan audited in Dec 2010 found TONS UPON TONS OF FEDERAL/RESPA VIOLATIONS. We're suing to get them to bring our house down to the current SEV value NOT what we paid. They are being served next week...we'll see what happens. It's an old loan from 2005 so my husband and I are paying out of pocket...so far $3k invested but if we win and can shave potentially $70k off our principal balance it'll have been well worth it.

Any questions feel free to email me:juliemsantilli@yahoo.com

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michiganmama
West Bloomfield, US
Oct 25, 2010 12:05 am EDT

Here's How to Beat SLS if you Live in Michigan

I'm from Michigan too, but when SLS tried to charge fees to close our HELOC that they'd bought from GMAC, we call the state's office of financial and insurance services, OFIS, (www.michigan.gov/ofis). We filed a complaint against SLS. They tried to explain why they were entitled to charge us "servicing" fees for a loan that had no balance and was frozen (as all HELOC's were) due to the mortgage crisis.

During the first few letters, which went through the OFIS, the SLS agent was arrogant. Speaking down to us as if we were deadbeats trying to get out of the money they were owed. In truth, I think they were shocked that we'd file a complaint over a nominal amount. However, we felt they were wrong for charging us arbitrary fees for services that were never provided. We also felt that contracts protect both parties - not just the lender. Finally, we felt the best way to prevent these abusive practices is to report them.

We held our ground and responded to each letter, still through the OFIS agent, by restating our position.
After a few letters and a couple of months, they gave in and closed the inactive HELOC without us paying a cent.

Here's where it gets really interesting- the OFIS looks at the practices of the agency with each complaint. If they determine a company is engaging in illegal/shady practices- they'll investigate. If they find there's a pattern of inappropriate behavior- they have the authority to pull that company's license.

So, one complaint can level the playing field for everyone!

Best of luck!

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9:06 am EST
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Specialized Loan Servicing [SLS] deliberate tactics to ensure foreclosure

After acquiring my 2nd mortgage form gmac, sls deliberately obfuscates contact methods with numbers to useless automated phone systems; intentionally transforms my e-mail address to all caps when trying to get a password established to set up automatic payments; require payments be made through western union at a cost of $10 per month; tries to use intent to foreclose notices to intimidate; fails to provide any meaningful method to contact them about setting up auto pay plan.
This band of thieves and liars comes off more and more like a giant scam.

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Aprilyates
, US
Sep 01, 2018 10:34 pm EDT

SLS is illegally foreclosing on me as well. They recieved a 6700 insurance depreciation check and a week and a half later sent me an acceleration of our loan notice. I hired a private attorney and we se t over demand letters that were completely ignored by them. Theu dropped name from loan alltogether so I was not allowed ro evwn speak with them due ro not being authorized person on the account. Theu are foreclosing on me and auctioning my home Tuesday. I eben tried swlling before they did and withheld the fact their is a 5, 000 HOA lien on my property. Day of closing suddenly theres a lien and now I'm out of time to close before the auction because Monday is a holiday!

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Crusade Against SLS
, US
Mar 27, 2018 9:26 am EDT
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I have been dealing with these animals for the last several months. I just got a foreclosure notice in the mail, even though I have e-mails from them confirming payments for the months that our loan has been with them (was transferred to them by another scan company, Ditech).

This morning they just had me sitting on hold on their "customer service" line for 35 minutes, and THEN a robot voice said their "customer service" office is closed for a company meeting.

Yesterday I called within the stated business hours and the robot voice said to call back during business hours.

I WILL be contacting a lawyer about this, and have already asked a realtor friend for a reference for a good real estate/mortgage lawyer. I'll also contact the Feds, but they'll likely do nothing. A private lawyer hopefully will.

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Specialized Loan Servicing [SLS] illegal foreclosure

My attorney was succesfull at getting sls's motion to foreclose thrown out of court due to the laws they had broken by cashing checks after they files with the courthouse to forclose. They never credited my loan with payments,, etc. Have been reported to the colorado district attorney's office,, yet they still allow them to do business and rip off customers. I stopped paying on my loan when they jacked up the interest rate to 11%. They now have switched law firms,,, lol
Such idiots, a judge won't be so stupid as to see what's going on. They have poor legal representation and have no idea what do to now. Wah wah wah,, go call your mommy sls. You won't get another payment from me and I refuse to do any loan modifications with you. You'll never get another cent interest out of me. I'm going to give it to someone else who knows what customer service is all about. This company must be run by 5th graders. Watch out for jamiey riley also, she has no clue what her job description is and can't locate it i'm sure. Lol
She just flounders at her desk,, when she can't take the pressure, she goes to lunch. She must eat 24 hours a day because each time I call, she's out to lunch, no matter what time of day it is. Such fools.

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David
Lakeland, US
Dec 16, 2009 8:21 am EST

Try
Myforeclosureattorney.com

hope this helps. SLS needs to be shut down. Also contact the State's attorney's office In Colorado. Speak with Jennifer in that office to voice your complaint against SLS. Her phone number is [protected]

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Alex Garcia
Santa Ana, US
Nov 12, 2009 4:40 am EST

This company is fool of liars and thiefs. After speaking to mortgage company Specialized loan servicing On 12/31/08 I was told by Rosana Martinez my house would be removed from aution date of 1/15/09 I signing a repayment plan on 1/08/09 later to find out after sending them close to 20, 000.00 that they had re filed on 1/2/09 a new auction date of 5/15/09 and never told me of the date until someone came knocking on my door and told me they could keep me in my house another 4 months that the house was auctioned off back to the bank and was now REO what can I do this aint right Need help desperately.Specialized Loan Services lied to me and stoled my home I need a Pro bono Attorney ASAP

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Specialized Loan Servicing [SLS] poor customer server

Very poor customer service. Called to see whether they had received my payment and the agent on the call starting asking me all sorts of questions to get additional information out of me. Was I current on other payments? Etc etc. Told her I was calling about my loan with sls not about other loans and she indicate I was not being cooperative. Will be refinancing my loan with someone else in the next 30-60 days. Beware as they do not appear to be someone you would want your loan with long term.

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Specialized Loan Servicing [SLS] mis-handling of loan & violation of loan practices

Sls has been doing business as a predotory loan company. And has entered into illegal foreclosures. My attorney was very successful at having their motion thrown out of court. The foreclosure has been stalled and they don't know what to do. This company is run by min. Wage employees with no power and no authority to modify loans, post payments in a timely manner. It's a new company run by former real estate brokers who could not make it selling real estate. I've filed a report with the state of colorado to have them shut down thru the state's attorney's office. Am not trying to get a "class action lawsuit" against this company. Email me at [protected]@aol.com if interested in becoming a part of this lawsuite against sls.

Read full review of Specialized Loan Servicing [SLS] and 32 comments
Update by David
Dec 15, 2009 9:43 am EST

ALSO IF YOUR IN FLORIDA AND NEED A GOOD ATTORNEY, THIS GUY IS PRETTY UP TO DATE ON WHAT'S WHAT. I'm going to hire him when this thing blows up again.
So far I'm staying in my house, 2 years now...

Lawyer Keith Merritt - Lakeland, FL Attorney - Justia Lawyer ...
Lakeland, FL - Keith Merritt - Public Interest, Business Law, Construction Law - Justia Lawyer Directory.

lawyers.justia.com/lawyer/keith-merritt-540972 - Similar

Update by David
Dec 15, 2009 9:38 am EST

Yes. its a big scam with only minimum wage employees answering telephones. They get paid to be a [censored]. So sad they treat other humans in this fashion. Shows how little self respect they have for themselves and how they were raised. They try to elevate themselves to combat their low self esteem as well. You will need an attorney. SLS is having financial probelms from what I've learned and won't be long before they go under.
Check out MyForeclosureattorney.com they have been advertising on tv here in the Florida Area. Also file a report with the State's attorney's office in what ever state your property is located in, , PLUS the State's attorney in Colorado where they are. Call the Colorado State's attorney's office @ [protected] talk with Jennifer. She's aware of what's going on but says they have no resources to investigate. You need to call her daily, the squeaky wheel will finally get the grease in this case. Hope this helps.
David

Update by David
Nov 17, 2009 12:28 pm EST

SLS is a company that is run by a bunch of Circus Monkeys. The employees there don't care about their jobs, don't follow thru, most likely never heard of a Job description or how to follow one. I'm sure most of the employees don't even have a high school diploma. It's a sad situation of indigents pretending they work in a office enviroment.

Don't give up, , , hire a lawyer or check out LivingLies.wordpress.com for more attorney's that will go up against these idiots at Specialized Loan Servicing. I've been refered to another lawyer that is more experienced in dealing with these issues. Have not sent SLS any money for almost 2 years now and still in my home. They have really messed up the loan and can't even find the original papers. They are going to sink and I've heard they have some bad financial problems and unable to pay the property taxes on alot of the loans they manage. Check your property tax status people. SLS has let them lapse I'm sure. BEWARE. Never dealt with such nasty rude ###s such as these.
David in Florida

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PhilipC66
, US
Apr 26, 2019 9:37 pm EDT

For 12 years I have paid my loan with SLS approx 3-5 days in advance. Never late and over paying my loan by approx $50 - $100/ month (some months over $500 extra). After 12 years, they contacted me by phone saying I was over $500 overdue, I called to review the account with a manager who said they figured out the problem. I asked about my over-payments and they said there were none. I asked them where the additional money went each month. He said it went to a mis-applied funds account. When I pressed him, he said the money is gone as SLS had the rights to the funds. My failure to properly mark such funds was my mistake and the money was gone. He also said because I had been over paying SLS was forced to charge me the $500 plus as a penalty for potential lost interest because I was trying to pay toward principle. Nothing makes sense. I appealed and during the 4 months I've been waiting nothing is going to principle and my loans are showing penalties each month. This month a $142 penalty for being ahead on payments.

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MCN1970
, US
Oct 17, 2018 3:13 pm EDT

BOA Home Loan Services sold my mortgage to SLS in December of 2013. Due to illness and no longer being able to work full time as I am on disability, We filed for Ch.13 in May of 2011. When that was was discharged in 2016 I began getting letters and calls from SLS saying that I was behind on my payments. I has never missed a payment. They insisted that I was never on time with my loan and that they payment I made in January of 2014 was applied to play my payment of December 2013. Each payment I've made have been applied to the month before so they are claiming each month that I am a month behind. I am not sure what I am going to do. I did contact the BBB and SLS sent them a response that in my opinion as nasty as they were treating me every time that I have tried to contact them. The BBB responded that they answered all of the information that I answered in the complaint and said that they will not take any further action so I need to find a lawyer or class action to join because they are really crooks. I don't know how I will afford a lawyer but I must get one. I live in upstate New York. Doe's anyone have ant suggestions?

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Barbara Robinson
, US
Jan 07, 2017 3:11 pm EST

i have had nothing but lies and now about to loose my home because they refused to take payments when my loan became due i was wondering if there are any ph numbers i can call to see about this sls company? PLEASE HELP ME IF U CAN

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Alma Molina
, US
Jul 29, 2019 5:48 pm EDT
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here are these #s [protected] and1-[protected] www.consemerfinance.gov/complaint/

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tweena
, US
Apr 06, 2016 4:11 am EDT

Want to ask gambler669 if they ever found a class action suit against SLS? if anyone know of one in Calif. please reply with information. Thank you!

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Testpda11
, US
Mar 14, 2016 5:38 pm EDT

They are horrible! They are violating federal laws! They will not remove my private mortgage insurance even though it says in my mortgage note package that it was scheduled for automatic termination on March 1, 2016.

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gambler669
, US
Nov 12, 2015 8:43 pm EST

In Feb. 2015 I refinanced my home through Cash Call Mortgage Lender for $281, 000. Subsequent to this, the note was purchased by Fannie Mae and servicing was initially provided by Impac Mortgage Note Servicing Division. The first payment was due 4/1/15 and Impac serviced the note through 6/30/15. For some unexplained reason when I reviewed my payment history online, $83, 000 had been added to the principle. It is obvious that something was wrong as the note and all my docs clearly show the borrowed amount as $281, 000; Even Impac Mortgage account history shows the initial $281, 000 as well as the addition of the $83, 000 about 2 weeks later. I brought this to their attention and after many, many communications they said they resolved the issue and adjusted my account accordingly on 6/12/15. Their explanation was that somehow my note docs had been mixed up with another and caused the addition of the $83, 000. About the same time they said the matter was resolved, they coincidentally transferred the servicing of my note to Specialized Note Servicing (SLS) which began on 7/1/15. In reviewing my account with the new note servicing company SLS, the $83, 000 has been suspiciously attached to my account again. On top of all this, SLS now has my property confused as being in the wrong county and the wrong parcel number for my escrow account tax payments. On top of all this, SLS restructured my payments to coincide with the added $83, 000. So, instead of my payments having been made on time with the excess money going into my escrow account and paying down the principle, SLS is telling me I was actually delinquent in my payments. This all came to light after they did not apply an on-time payment I made that was almost $300 more than I am required to pay and tried to charge me a late fee (I have produced the bank documents to support my payment that was made on 10/2/15). SLS customer support told me they will look into it, but something is just not right. The same thing happened in November where my payment is not posting, even though my bank shows they accepted the electronic pay. I am very disturbed by all of this and would like some help in finding a resolution. I can provide an account summary from SLS to show the current amounts they list that includes the addition of the $83, 000 as well as the payment history from Impac Mortgage to show the suspicious addition and deletion of the $83, 000. I am an outstanding citizen and take care of all of my debt on a regular basis, with an excellent credit score. It is ridiculous the way my account is being handled and that I have had to deal with this since May. The unresolved issues are forcing me to complain everywhere and have led me to find all of the same type of complaints online dating back years? Why is Fannie Mae involved with these guys? If anyone has a suit going in California, could you please advise me via gambler669@yahoo.com and put SLS COMPLAINT in the Subject line. Thanks…

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dar pierce
, US
Apr 09, 2015 3:39 pm EDT

etrade sold my 2nd loan to sls 2/1/15 phone call after phone call & late notices
because they are trying to change the terms on an existing loan they bought

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Nick Anderson0096
, US
Jan 02, 2015 5:45 pm EST

In early 2014 around February I received a deliquency notice in the mail. I thought this to be strange as I sent in 2 payments already. I called them 3 seperate times to discuss the problem with the payments I sent in and the first two representatives I spoke to they told me that they have not received the payments. When I called for a 3rd time 2 weeks later the representative I spoke to told me that check#2 payment was received a while ago, but was misplaced. So I told them they can depostie check# 2 and to void check#1. The representative told me that the account will transfer to another loan service company. I told the rep.even though SLS made a misplacement mistake they are still going to transfer me, they said yes. Now it is December 2014 and while checking my credit score it shows me with a 30 day deliquency the first month and has dropped my credit score signficantly.When I sent in a written dispute SLS looked at it and of course denied the claim. They want me to keep on playing tag with repeatedly sending disagreements in writing. Whereas all they have to do is review the recorded phone records. They knew they made a mistake with misplacing the checks and now my credit score it scared for seven years. After reading all the issues about SLS online I guess I should consider myself fortunate that I am not associated with them (SLS) any more.I just don't like that my credit score has take the hit for their mistake.

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amy jacobs
Lusby, US
Aug 04, 2014 2:57 pm EDT

My mortgage was sold to SLS by Bank of America in 2012. I had sent tons of paperwork to them to had on the phone meetings and they said they had lost the paperwork are never recieved it. the court in my county threw out there forcloser against me. BUT they have now sold it to Green Tree who is will not work with me and told me i have a forcloser date in oct, the court system's have no records of this... how is this possible? i am not sure what to do i cant buy a new house because my credit it so bad now.

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lauraadams36
Dexter, US
Jun 10, 2014 8:30 am EDT

Bank of America sold my mortgage to these people I've been trying to remodify my mortgage and every time I call back they say paperwork wasn't filled out right and that I have to send the application again this would be the third time faxing these people the paperwork and I've even filled it out over the phone with a represenative i also went to my property to start cleaning it out to move back in and found a padlock on my door i called sls and asked them why last week and they told me that it was to secure the property andwill request to have the lock removed i called today and they said the request was never put in and they resubmitted it and to wait another 72 hrs they are horrible and am about ready to let them take my house...

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6:30 am EDT
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Specialized Loan Servicing [SLS] sls lies and refuses to respond to complaints

After a year and a half of on time payments, I called to change my due date and was told my grace period was changed to the end of the month. The 2 months following SLS posted late fees on my account.

After writing to complain, SLS claims they told me I could send post-dated checks, and that they never agreed to change my grace period. This is a *lie*. I've challenged them to listen to the recording of my phone conversation, and they did not respond to that challenge.

Several months later, one of my 2 loans was transferred to another servicing company. This was not made clear at all; it seemed both loans were transferred. In error, I sent the new company both of my payments, before the due date.

After receiving a late notice on one of the loans from SLS, I mailed them proof that I had paid my mortgage on time, to the new company. In response to this letter, they simply returned copies of letters related to my previous complaint.

SLS did not respond at all to my letter, instead claimed they had addressed the complaint and considered the matter closed.

Do not trust anything this company tells you over the phone. Get things in writing if you can. This company is one of the worst I've ever dealt with.

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Mini_Bios
, US
May 03, 2019 11:10 am EDT

If you want help dealing with this inept and incompetent company, contact the Consumer Financial Protection Bureua and state your complaint. They are an arm of the federal government that protects consumers for shady and underhanded procedures from financial institutions like banks and mortgage companies.

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sam spader
, US
Dec 21, 2018 11:24 am EST

SLS has a flawed administrative system. Their so-called managers are incompetent to say the least. Their phone system does not have extension numbers for their employees and therefore you will never talk to the same person twice. Their employees are very unhappy campers. If you ask the same question to three different employees, you will bet three different answers! The company is a joke! How the State of Colorado Attorney General's office permits this company to remain in business is beyond me?!

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de kay
Joliet, US
Oct 19, 2012 12:56 pm EDT

SLS is a bunch of LIARS. my HELOC was sold to them from GMAC and they SUCk.
I have been trying to refinnance for over a year and filed a compliant with the BBB, but they closed my cased becasue SLS kept saying they mailed out the paperwork... which I NEVER RECEIVED.
SLS is a bunch or thieves! they should be put out of business

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sylmarcowgirl
Sylmar, US
May 03, 2011 12:49 am EDT

To all of you who have lost or are about to loose your home from SLS or Specialized Loan Servicing please please please take your complaint to the FBI. I did and they told me they are investigating SLS for foreclosure fraud. All you have to do is call the FBI and they will ask you a few questions and scxhedule a appointment to meet with a agent. Take all paperwork with you even if you dont think its important they will sift out what they want. Correction take copies because they keep them. If we all join in and figh along side with the FBI then maybe somthing can be done to get our homes back or put them in jail. As Americans we must fight for our rights that we have here in america. The FBI takes all complaints seriously and investigates them all. Dont wait the more complaints the faster they can help us all. GOD BLESS ALL OF US sylmarcowgirl@aol.com

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joke sls
, US
Oct 13, 2010 9:33 pm EDT

I hate sls! i call asked to speak to there boss, after days of agruing with people that cant even speak english. I get this one guy on the phone that i laughted at he tries to get smart by saying this isnt a funny sitution, sfs is a joke! now there saying they cant even send me a monthy bill, but if i dont sent them a payment. They dont wait to mail out forecloser papers. how do i get my loan out of there hands ? help !

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ceeceevee
, US
Aug 05, 2010 4:54 pm EDT

Here's an interesting complaint, we have a loan through SLS (cause they bought it from someone else), and in Feb of this year, they changed our mailing address to some place we've never lived, then in March they changed it again to my husbands Dad's address (where they get this from is beyond me) So I call and tell them that they need to change it BACK to the house address, and the response is...No one but my husband can make changes to the mailing address (in both our names). Who the heck changed it in the first and second place and why am I not authorized to change it to the correct address...I think its got to do with if we don't get our mail, we probably will pay late...well guess what, I don't need a bill to know when my mortgage payment is due and it gets paid every month, no matter where you send the mail too!

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foreclosurejustice
, US
Dec 15, 2009 5:18 pm EST

I'm truly sorry to hear all these stories. My parents house of 25 years and with more than $200k of equity built up was just auctioned by good quality loan after a quick 3 months period of sending letters that threaten to foreclose etc. After 3 months they filed a notice of default for $7k. Apparently Good Quality Loan represented the mortgage lender but they didn't send any notification out stating so. Does that mean that anyone can go and file a notice of default and sell your house just like that when you refuse to sign paperwork they send trying to force people to get modification loans and make other types of payment arrangements? How can anyone tell a scam from a non scam? Someone dropped a handwritten note at my parents house saying they had to leave in 3 days. We don't know if they house was truly sold, or for how much or anything. This has got to stop, these companies should not be allowed to get away with all this and ruin people's lives (My parents are in their 70's and this is just happening a few days before Christmas). Where can one go and make formal complaints to the goverment and other cosumer defense organizations to get help to stop all this? Good quality loan, Washington Mutual and CHASE suck big time and I truly hope the other two that haven't gone under yet fall flat on their face soon and are forced to remedy all this violations of consumer law and foreclosure laws. If anyone knows where we can start a move/petition or whatever it takes to raise awareness and stop all this please post it here so we can all help.

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sls sux
Clarkston, US
Nov 14, 2009 7:55 am EST

I also had a HELLO letter as GMAC sold my mortgage to SLS. It has not even been 12 days since this loan company has owned this mortgage and they are trying to charge me late penalty fees, higher interest, and report my delinquency to the credit bureaus! THIS COMPANY IS A FRADULENT COMPANY THAT IS TRYING TO SCAM HONEST PEOPLE. Anyone who has their mortgage sold, or transferred has 60 days to not be considered late but not with SLS! By the way, SLS is just a servicing company they do not own my mortgage, therefore they are like the middle man and they think they can get away with anything they want including taking a bigger piece of the pie such as increasing my interest rate, charging me a 5% penalty fee and reporting me to the credit bureaus be cause I was 10 days late on a loan that transferred 11 days ago. Good luck with your future endeavors SLS!

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cindy
Phoenix, US
Jul 23, 2009 2:23 pm EDT

I became disabled last year, my husband lost his job, thus our insurance. We tried for awhile to pay for cobra but that was ridiculous. Our home loan is with SLS.
They began foreclosure and refused to speak to us at all.
SLS hired another company called Quality Loan Service to do the foreclosure.
My husband is back to work although making less money and we still have no health insurance.

We tried to hire an attorney who took our case to stop the foreclosure or postpone so we could try to straighten this mess out.
Well we just had our retainer returned from the attorney with a note that stated " The success rate of litagation is not very high & there is a great deal of case law research, requesting of documents, & the necessity to file litigation."
This attorney as well as others we have spoken to seem to think that the loan companys create so much excess work to stop the foreclosures that its just not worth the trouble because ultimatelty they get the foreclosure done anyway.

I give up. Our taxes were given to the banks for baleouts to help people and I just am not seeing it.
In fact, the foreclosure rate in my state of AZ has gone up.
We tried eveything we could to work with SLS to no avail, so we will lose our home next month in August.

Thanks SLS and all the other blood sucking servicing loan companys out there.

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Grmn
, US
Jul 08, 2009 1:38 pm EDT

Be sure to file a complaint with the FTC at: https://www.ftccomplaintassistant.gov/FTC_Wizard.aspx?Lang=en

Also, file a complaint with the Better Business Bureau:
https://odr.bbb.org/odrweb/public/getstarted.aspx

In my case, Specialized Loan servicing has made reporting errors to the credit bureaus 3 times. They should not continue to maliciously wreak havoc on consumer credit scores without reason.

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Specialized Loan Servicing [SLS] not very customer focused

I've had my secondary mortgage loan with SLS for about 1 1/2 years. This is the only bill I've actually had to write a check for and mail in, as the on-line payment feature costs 5.00 a payment to make, even if you are making a payment on time. Keep in mind, they are the ONLY company I deal with that charges a fee each time you pay on-line.

I recently mailed in a payment, and they cleared it for the wrong amount. Turns out they use lock box processing, and aren't very good at it. They offered to take an additional payment over the phone... they charge 5.00 for that as well.

Unfortunately, to refinance to another mortgage company, I would need to bring 10, 000 to closing, because of the housing crisis... so I'm stuck with them for now.

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Cynthiamary
, US
Jul 14, 2019 1:22 pm EDT

Every time I make a payment it is not applied correctly...something is not right with company..the slip I fill out states where monies are to go but they do whatever they want. I have contacted every other day but get no where. I have proof through bank payments are made every month on time

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MERS Needs to go
, US
Dec 09, 2018 6:54 am EST
Verified customer This comment was posted by a verified customer. Learn more

It is very important to check on MERS. Go do your research and you will find out that the loan has been paid!

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Penny-B
, US
Nov 04, 2018 9:04 am EST
Verified customer This comment was posted by a verified customer. Learn more

We have been trying to work on a modification for over 2 years with sls. I'm reading the same things on this web site that have happened to me. I would like some information on this class action suit if it's not too late? I see it was filed or started in october 2016.
Thank you for any information on this.

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steve miller
, US
Nov 01, 2018 4:32 am EDT

Our loan mod was a farce. You never intended it to succeed. We sent all docs requested but it was never enough. We paid it off. However, we'll pursue every option we have to make you pay for fraudulent loan modifications. Your
Company (sls) took money from the us govt (making home affordable), with no intention of helping anyone.
Stephen miller

tweezy23
tweezy23
RENTON, US
Sep 18, 2018 6:30 pm EDT

I'm going through a settlement with bank of america... Bank of america sd the loan to sls after a settlement was reached with the d. O. J and bank. Of america is supposed to pay off but, the bank says they sent information to sls and sls keeps telling me they know nothing about any settlement.

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Queenela Jacob
, US
Aug 21, 2018 12:40 am EDT

I have a mortgage which I pay on time every month and SLS is harsassing me with threatening phone calls and they have not sent me a monthly statement that they have received my payment yet they are taking money from account, please help

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jlch
Whitman, US
Jan 14, 2010 10:10 am EST

Shame on GMAC for selling out to this company what was once we had good credit SLS is giong to DESTROY it.

SLS has not sent me any statements since taking over my equity loan, they just hoping that if I miss a payment they can recall the loan in full with penalties.

This company should be shut down by the Federal Government and everyone should be tosss into a Maximum Security Prision where BIG BUBBA can have a field day!

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Specialized Loan Servicing [SLS] contacts

Phone numbers

+1 (800) 315-4757 +1 (866) 801-1373 More phone numbers

Website

www.sls.net

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