Specialized Loan Servicing Reviews
5
7%
4
3%
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2%
2
5%
1
84%
1.4
107 reviews
107 reviews
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dmtshooter
@dmtshooter
1 Star Rating
Bought my home equity loan & pushed through a balloon payment while also wasting my time with pointless paperwork. To describe them as the worst company you can imagine would be overkill, but if your loan gets bought out by them, it's really bad news. They suck.
Product:
Specialized Loan Servicing Home Equity
Comment
Pascal I
@pascalilly
1 Star Rating
They purchased my loan from Rocket Mortgage. The transition was ok and payment process was ok. What I didn't like is that they bought the loan to resell it within 3 months. It was a brand new loan and in less than 6 months it went through 3 lenders. They just "dumped" me to the next lender and the tax forms for last year were not completed. I was unable to verify where my escrow went and if my taxes were paid by them or the other lender.
Product:
Specialized Loan Servicing Home Equity
Comment
Brenda
@brendab30
5 Star Rating
They have been really helpful with payment issues during the Covid -19 episodes.,They have all been really friendly and willing to help you out no matter when you call or what your problem may be.
Product:
Specialized Loan Servicing Mortgages
Comment
darronmorris
@darronmorris
1 Star Rating
March 10, 2022 Called to get set up with company and the rep was totally rude. I asked if they had a department that handles inbound new servicing that has been wholesaled to them so that our first payment is not late to Specialized Loan Servicing due on April 01, 2022. I also asked if the Rep had a manager I could speak with he said no, I then asked if he owned the company and it was crickets. We are off to a nasty start already with this company. Glad I was recording the call and told the Rep I was recording the call so I can bring litigation if they report us delinquent on our first payment to the credit reporting agencies. Reading reviews and seeing the past litigation against them is scary!!!
Product:
Specialized Loan Servicing Home Equity
Comment
ronda_bakos
@ronda_bakos
So....I'm glad I stumbled upon your post. I too just had a call with SLS. I tried to make my mortgage payment online and saw a message to call them. I have NEVER missed or been late on a payment. This month, I was in the process of moving and changing banks. My auto payment with SLS fell through the cracks, which I was just made aware of today. I called to make a payment but was told that since I did not make my March payment within the 10 day grace period, I am now required to pay by certified funds - Western Union, Wire Transfer, etc. WHO DOES THAT???? I was told the wire transfer would probably be the quickest, but it could take at least 48 hours or more to credit to my account. WHAT? I know for a fact that wire transfers happen within a matter of hours. I said, 'so you're telling me that I may not have the payment credited to my account before the end of the month because SLS is not capable of posting my payment in an effective and efficient manner to ensure my mortgage is NOT 30 DAYS LATE? She ignored me, then said there was nothing she could do to speed it along. Again, I said, so I'm calling you to be proactive to protect my credit and you can't help me do that? Nothing again. Then after I hang up I find this thread and the March 6 message from Madison which is quite alarming. Time to research and do what I need to to protect myself.
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Garrett Rice
@Garrett92264
I had the same issue. I've done lending for 15 years so tried to be super proactive to make sure my payment was on time. Even paid a couple ahead just to have it done. Then found out my auto pay wasn't put in right and luckily caught it while it was just a fee and not marked 30 days late. I'm sorry for anyone that has to work with this company. They are AWFUL!! I had to call in another time as they said I didn't have insurance and they claimed they couldn't find my escrow payment. I looked at the history and it clearly showed they were collecting escrow. I have a feeling they just don't know what They're doing. I'm sure someone will catch them on a Truth in Lending error someday and they'll have to repay the loan back. They have no business being in the loan servicing industry. I told my lender if they kept selling to these guys that I would stop using him. I'm not the first complaint they've had from customers that refinanced and were sold to SLS for servicing!
Comment
Madison
@annc_78
1 Star Rating
Specialized Loan Servicing (SLS) has been found guilty of illegal foreclosure actions, forcing borrowers to lose their home when they had the financial capabilities to keep their homes. SLS is at it again, taking advantage of borrowers affected by COVID-19 to steal more homes, violate borrowers' legal rights, and blame the borrowers for SLS's despicable actions.
If your mortgage was sold to SLS, refinance ASAP, report SLS to every bureau/regulator/law enforcement entity you can find, and contact your local representatives. Read up on SLS on the Consumer Financial Protection Bureau (CFPB) website to learn about SLS's guilty charges.
Product:
Specialized Loan Servicing Mortgages
Comment
1
5 Star Rating
They are easy to work with and the internet access is easy to navigate. The loan process went smoothly from start to finish. Highly recommend them.
Product:
Specialized Loan Servicing Mortgages
Comment
1
RHONDA
@landrshore
2 Star Rating
I have been flagged for no disaster help and I don't know why. When I called the man that answered the phone was rude and didn't have time to answer my question. my bank changed hands, so my payment was messed up in the process. I have always been 2 months ahead.
Product:
Specialized Loan Servicing Mortgages
Comment
Grant Pierce
@grantpierce1991
1 Star Rating
Approved for the mortgage forbearance plan. Through out that time was told repeatedly I could move those Forbearance payments to the back of the loan once it had ended. When the forbearance ended I was told how to fill out the mortgage assistance documents. Fast forward 2 months later I was told multiple times I was missing documents. Again, I sent what they said and more. This is a ploy for them to drag the process out as long as possible. Everytime they said they needed more documents they would cancel my entire request having to start over. They know exactly what they’re doing. 3 months total time has passed I now call every single day. Today I call to get told “your mortgage assistance has been approved”. That’s great, until she says “approved for the investor to take the home back”. I absolutely can’t make this up. Guys let the 1.4 STAR rating make the decision for you. If you’re willing to sacrifice losing your home to SLS then go for it. What’s tragic here is the amount of homeowners who can’t just write a check to make an account current making them homeless. Pathetic. I’m making my account current and changing mortgage companies ASAP. SLS is a greedy sleezy company who won’t make it.
Product:
Specialized Loan Servicing Home Equity
Comment
2
dst30th85
@dst30th85
Grant we are going thru the exact same thing. However my sheriff sale is this Wed. We are doing every thing to stop the sale, but we are tired. We have been dealing with this for over 3 years. They never offered us one option to fix the problem. We are so frustrated. Someone needs to get a class action suit against them. We must have turned in packets to them at least 8-10 times. They are awful!!!
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Jonathan Deane
@JonathanZX
1 Star Rating
Being reminded that paying on the web is free on the phone while it never works.... The phone system barely works. Usually takes 2-3 calls to pay. Unless you give them extra money to talk too an agent that works fine.... Also my mortgage payment is all over the place 350 one month 615 the next... With no apparent reason.
Product:
Specialized Loan Servicing Home Equity
Comment
Lori
@lryb
1 Star Rating
Avoid this company at all costs! They are not even a real mortgage company or bank and work extra hard to screw their customers! And they totally don't know what they are doing and do not communicate with each other.
Product:
Specialized Loan Servicing Mortgages
Comment
1
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Specialized Loan Servicing Q&A(9 questions)
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How do I change companies?
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Rate for Refinance
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Has my refund been sent yet? It's been 6 months still trying to get it! Why is it taking so long?
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Does SLS honor goodwill letters to stop negative reporting on your credit report?
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I want to buy a property that was transferred to you from Welfargo. Who do I talk to?
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