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Specialized Loan Servicing / mis-handling of loan & violation of loan practices

1 CO, United States Review updated:

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 if interested in becoming a part of this lawsuite against sls.

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  • Le
      21st of Jul, 2009
    +2 Votes

    We just completed a loan modification with these guys and they are now trying to charge us an extra $2, 300 in fees that were not disclosed in our loan mod. docs. They are very rude and unhelpful on the phone. We have retained an attorney to help us. I also noticed when I checked them out on BBB, they have a lot of complaints filed against them in the past couple of years and they do have a tendancy to resolve a very high number of those complaints submitted through the BBB. Just something for anyone dealing with these people to think about. They will resolve complaints submitted through BBB because they want their rating to stay at an "A". We are still having our attorney deal with these jerks though. Not worth fighting with them.

  • Mi
      19th of Aug, 2009
    0 Votes

    As am employee wth this company I can not help but side with the borrowers complaints made against them.

  • Ma
      24th of Aug, 2009
    +2 Votes

    We have a second through SLS. Recently we have had a 30%+ lost in income and are have a very hard time paying our mortgage. We have contacted SLS and they have been very difficult to work with. I think the positive comments are from SLS employees or friends. If you do a Google search on complaints, you’ll find the true story. One quote "These people are dishonest and did not work with our family in good faith". SLS are nothing but crooks and liars! We are in the process of notifying the State Attorney’s Office and joining a class action lawsuit against SLS!

  • Ca
      14th of Oct, 2009
    +3 Votes

    I had a HELLO with GMAC who sold it to SLS. I don't understand why they would sell their business to a company like this. Look for many more complaints.

  • Sp
      14th of Nov, 2009
    +2 Votes

    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!!!

  • Al
      15th of Nov, 2009
    +2 Votes

    After speaking to mortgage company On 12/31/08 and was told my house would be removed from aution date 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

  • Da
      17th of Nov, 2009
    +2 Votes

    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 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

  • Ja
      1st of Dec, 2009
    +1 Votes

    I have a second with SLS. They are incapable of managing the loan. I called them to modify the loan one month ago. The told me I qualified for the mod and could start reduced payments in Dec. I got a series of calls last week. When I finally returned the calls- I was told that I am late on my Nov payment and I owe penalties. They had no record of the mod. I called back later and was told the mod application had been rejected. It is clear they do not know what they are doing. I am not making payments any more - I cant afford to anyway. I am current on the first and the house is worth less than even the first. SLS cannot foreclose and if they go after me - I will declare BK. If we all take a hard position on them - they will relent.

  • Ra
      1st of Dec, 2009
    +2 Votes

    Why are these Jerks calling my Mother, who is 82? She lives in an apartment! This is harassment and I am upset with these Evil Vultures from Hell!

  • Ms
      6th of Dec, 2009
    +1 Votes

    I have also been sucked dry by this company. Since I have complained to the BBB, Attorney General's office and the Securities Department, SLS has fixed their website where I can no longer pay my payment online or view my account. I beleive they are not operating their business in an ethical manner. I have paid them almost $20, 000.00 in past seven months for and only less than $1, 000.00 went toward my principal balance. They are crooks!

  • Ma
      13th of Dec, 2009
    0 Votes

    SLS is who we pay our mortgage to. We did not know much about Fix/ARM rates when we took out of mortgage. We did find out that we have an ARM rate. We contacted SLS and asked about a Loan Modification. After about 3 months of sending in income statements, proof of residence and all other private information which was faxed. I called them to make sure they received docs. They advised me that they did not so I had to refax them. They then requested that I send in updated docs because I did not send in all the docs at the same time. I sent in all required docs again. The rep his name was Josh told me that they do not call you to remind you of any information you would have to call them. I was shocked, I have never heard of that. He also said we don't have to give you anything very rude and nasty and would not put a Supervisor on the phone. They always say the supervisor is on another call. They are a bunch of no nothings, no respect, no knowledge and no sense of direction. I was faxing docs weekly, each time I spoke to someone then there was something else I needed to fax. When I finally got all the information in (They denied me the loan modification because they stated that I had too much equity in my home. (They were not going to give it to me from the start). Now we are still at a ARM and trying to refinance to get a fix. THIS COMPANY SHOULD BE SHUT DOWN. I am going to email my Congressman about this matter also the President. This is just a scam.


  • Da
      15th of Dec, 2009
    0 Votes

    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 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 @ 1-303-445-1041 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.

  • Da
      15th of Dec, 2009
    0 Votes

    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. - Similar

  • Ha
      26th of Feb, 2010
    0 Votes

    We have been trying to get a loan mod for over a year. Started last Jan. took them 3 months to tell us they needed us to fax in most recent docs. They were short staffed and everyone was trying to modify etc... Last summer they told us they could do a remodification if we could come up with about $2300. We are having trouble making our payment as is - thus the need for a modification. If we had $2300 we wouldn't be behind on our mortgage payments in the first place! We can't afford to hire an attorney and are currently going through personal bankruptcy. Still trying to keep our home, we have to have a roof over our head. They have all our info and yes I have to call them all the time - they never call me regarding the modification. Since we haven't been able to get our payments lowered looks like this will be the month we don't get it paid and go into foreclosure. I will call them tomorrow and see if they have made a decision - probably same as last time where we have to come out of pocket gobs of money before they will do anything. It's sad and depressing. Wouldn't it be a win - win situation for them to help us? Do they really want all these homes back?

  • Ch
      24th of Oct, 2010
    0 Votes

    My origional with Fremont Investment was Assignment to SLS last year August 2009. I have been pay my mortgage on Principle, interest, and escrow account. SLS was forclosure and sold deed to local broker real estate and I was lost 100, 000 dollars on my equity. I need help from the government or attorney to invetigation on the SLS company. I do not know what to do? PLEASE HELP HUMAN BEEN OR EVEN GOD. I may contact at

  • C0
      12th of Feb, 2011
    0 Votes

    These guys send me payment tab with letter saying that they took over my 2nd mortgage from other debt collector company after this debt collector dismissed my loan 10 month ago. I don't get it. And I'm not going to pay any penny. These guys are lier, they don't get taking ove my loan. How could they do that. There are so many victims and Nobody can't take them down?

  • An
      17th of Mar, 2011
    0 Votes

    I couldn't agree more. I had a loan mod done. They have still failed to send me my amortization for my new loan...

  • Be
      24th of Aug, 2011
    0 Votes

    Bank of America : BAC Home Loans Servicing, sold our loan to SLS on July 1, 2011 we received the letter from our previous lender with in a few days we received a phone call from SLS stating we were delinquent in our Property tax payments & we have no insurance on the property. I had not even received a letter from them at this point to request any of the information, I couldn't even call them because I had no account number with them as of yet. My payment was due on the 25th of the month and still had no payment coupon with an account number so I mailed it out on the 22nd to the address in the letter hoping they would get it to the right department. We have received several notice that we are delinquent in our payment (not) and they are charging me late charges/fees of 830.38. They are still claiming that we are 16 days late on our July payment which it cleared the bank on July 26, 2011 and it was due July 25, 2011 go figure that they consider it 16 days late, I like to know who is doing the math in this company a 2 year old. I refuse to pay any of there late fees and would most certainly join a class action suit against this company and I have only been dealing with them for 45 days. We have this home under contract and hope to close in September of this year and I can only hope this happens soon so I don't have to deal with this company any longer than I have too.

  • Ad
      21st of Mar, 2013
    0 Votes

    SLS has charged me $200 in late fees for being late on payments that have not been late in almost 2 years. They have missapplied payments after the due date then charge us late fees. I am in KY and trying to find a lawyer to sue these jerks.

  • Pl
      13th of Apr, 2013
    0 Votes

    Having my mortgage taken over by SLS has become one of the worst nightmares in my life. They are a bunch of crooks and liars. They have lead us around in circles for over a year. The fact that they are supposed to be working on a home modification is a joke!!! We sent in papers after papers...We never got the same rep on the phone, just a bunch of incompetent people. The last time we talked to them they made it sound as if a foreclosure or short sale of our home is pending. This just isn't right. I would certainly join in a class action suit against this company. They must be stopped before many more lose their homes...

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