Specialized Loan Servicing Beware

My loan was transferred to SLS in 12/06 and it has been a horrible experience ever since. The harrassment calls, the unprofessional staff, and their reluctance to sell the loan is unheard of. I tried to refinance with another company in May 07 and SLS refused to cooperate with the lender. They refused to give a payoff quote and consistly stalked me eventhough they verbally agreed to cooperate. They placed negative information on my credit report and failed to perform on a forebearance agreement. Does anyone want to file a class action suit against them? Please let me know?

I have enough with this company and their BS. Its time to fight back. SPS (Select Portfolio Servicing) Faibanks is just as bad.

If anyone has any information on class action suits against both these companies please e-mail me at worldknight@aol.com

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Review category
Loans and Mortgages
Review rating
5 out of 5
review #117209
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Mar 05, 2014 #791642

I was just transferred to these people and like all of you my experiences with them in 3 months have been the worst. They do lie and of course they are stealing they quote RESPA incorrectly and do what ever they want. They are overcharging me for my Escrow by 100%. I had to contact HUD, NC Commission of Banks, NACA and Consumer Finance. I refuse to lie down and allow for them to steal my money. They are not following rules like other Mortgages, and I think because these are investors. Their goal is to make money. I think we should file a Class action suit. several people are looking to do that and if any one is interested this is a contact email. worldknight@aol.com

1 0 Reply
Fed up

Apr 05 #968032 Cable, Wisconsin

Their goal is to reposes properties after they are nearly paid off. We are in the midst of trying to get our lives back together after several months of no work but yet kept our payments going. Now SLS has sent exaggerated so called shortage charges which has nearly tripled our mortgage. And have sent foreclosure notices against our credit.
At several times they wanted us to "modify" our loan. I am so happy that we did not, especially after reviewing all the bitter complaints about the corrupt and irresponsible manner in which this company operates. They are a subsidiary of Bank of America and share the low opinion expressed by so many people and legal firms.

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Feb 26, 2014 #788869 Marietta, Georgia

Bunch of Crooks ! I cant even get info about my loan over the phone. Sign Me up also for Class Action MadEyeMan@Hotmail.com

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Aug 21, 2013 #703986 Albuquerque, New Mexico

I will be more than happy to jump in on a class action suit with SLS. I have been trying to get them to approve a short sale fo 18 months. How can they stay in business when they don't know if they are on foot or horseback!

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Jan 31, 2013 #601935 Memphis, Tennessee

I submitted paper work for a loan modification in January 2012.Over the past twelve months I have had to submit and resubmit documents because I was told on several occasions that "we have the paper work, paper work lost, paper work expired, need to resend in a full document again". This went on for 12 months. It is now January 31, 2013 and I was notified last week that my loan is being sold to another lender. I would place calls to SLS at least three times a week and was given multiple excuses why the paper work was not complete,. My escrow analysis was requested at least three times which I was told it only takes 24 hrs , the loan went to the under writer twice. I feel that I have been discriminated against. I support a class Action law suit against SLS

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Nov 06, 2012 #565320

To the ones that say quit whinning and pay your bills. I do and have paid they every month even when they wanted $300 extra for my county taxes (which are by the way only $477 a YEAR). When they finally investigate 5 months later escrow for taxes went to $45 a month. Alas no one can actually tell me where the money went, until one day the said I owed the previous (homeq) company $1258.27 in back escrow. I did not choose this company I was sold to them. They do not work with other mortgage companies to help you refi.

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Jan 23, 2013 #597466

Lynn good luck just keep fighting the fight, Document everything and take emoshion out of the equasion when you deal with these a$$'es and give back as good or better then they give you and you will overcome their BS...I did and it works only took 3 years...

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Sep 25, 2012 #546948

I will jump in on a class action lawsuit!! let me know

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Jan 23, 2013 #597465

You know, I had a countrywide loan then BOA bought it out then when my exwife left me, cleaned the house out, left the bills and I lost my job in Atlanta it was rough. I was on unemployment for 15 weeks searchinv for a job (2008) and ended up just moving out of state, Told them I had no intent on keeping the house and was going to file ch.7, Then their tune changed....They were nice...I still filed and they had kept calling after the fact wanting me to take the house back after I was discharged from the property!! These guys are just low-life backward thinking people to go against the law of the land like that. So I finally told these people that if the continue that I will file suite against them and had my lawyer ready. I also followed up with a stern letter telling them my intent, They have since left me alone as of 2011 3 years but I won the battle with them. you just have to be ready for a long drug out fight with them...most quit but stand up for yourself and fight for what you believe in and you will over come these crooks...The funny thing is, They have no real paperwork to prove they own anything....That is a plus in many ways...think about it.

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Feb 27, 2014 #789371

Bunch of people using a lawsuit to compensate for your dumb decisions and lack of ability to pay expenses you promised to pay in the first place. My advice to you is to either get a job, man up and pay what you owe instead of putting your excuses on some company as well as purchase or take loans that is well in your means. You wouldn't be in this position without the mistakes YOU made. People who use suits to cover up their mistakes are absolutely pathetic.

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Mar 05, 2014 #791652

That's not a true statement SLS took over my loan and I have always been in good standing, They added and additional 127.31 to my escrow and called it a shortage. their was no shortage and when I confronted them with proof, the called it a cushion. I than told them that I did not want or need a cushion of double my taxes. SLS LLC are crooks and they lie and mislead you. I hope that no one has to go through the things that they are trying to take me through. Because its wrong on every level :x

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Aug 23, 2012 #532679

My second mortgage has jumped from lender to lender over the past 5 years. It is currently with SLS. Without paying off the loan amount is there any way to get switched to a different company. After reading above I want nothing to do with SLS.

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Jul 20, 2012 #516342

You can find out who the investor of your loan is by sending an inquiry to:
PO Box 636005
Littleton, CO 80163-6005

Add your account number to the letter and ask them who your investor is.

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Jul 06, 2012 #508325

So do I, give me the information, I will like to suit their butt too.

0 0 Reply

Jun 28, 2012 #503587

I am attempting to close a short sale that they claim to hold the note for the second on.
They are requesting over $70,000 to settle the second - Unheard of. They are out of their minds.

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Dick, Tampa

May 02, 2012 #474725

Waiting for an investor to sign off on paperwork for a "Short Sale" every week they tell you a different story and know one knows who is handling the file. This place needs to be shut down if even a small amount of the claims on here are valid.

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Apr 10, 2012 #463452

Yes I would like to go after them in a class action lawsuit!! Please give contact info for that.

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Mar 31, 2012 #458906

In response to Mile High's post dated November 27th, 2011. Calling the people posting on this site CLOWNS is an insult to legitimate complaints from intelligent people not Clowns. Mile High is a great name for you because you appear to be High on something. You explain why SLS will not lower my escrow payment or refund my current over payment after my Property Taxes were lowered by $1,200 per year 2 years ago? That is a fact Jack! Hmmm, from Denver, CO eh? Could it be that you are a member of the SLS Management Team? The pieces fit. This is an example of SLS's customer service attitude so perhaps you are a CSR Training person there.

0 0 Reply

Mar 23, 2012 #454176

Yes, SLS is a Debt Collector. And for the writer above, they are in court right now, because they cannot produce the "note". Pray that we win this....it has been a long, long drawn out process!

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Mar 12, 2012 #447661

Sister had her mortgage w/ BofA, In(2010)they paid $3250.00 a Outsider Modifier Firm to help w/ MOD. reduction.After many months gone by, they couldn't even talk to someone, recordings, no anwsers.
Company raid by Feds 4/2011.
New individual Modifier who they found through STRONG reference 2/2011, pd him a $1000.00 to help get things on tract, has succeed w/ others. Things WERE going good, November last conversation w/ him & told by him they have a appt. Rep now handling their Mod application, process in "review". This guy was ALWAYS keping in touch, keeping them abreast on everything. UNTIL !!!
Never heard back anymore after 11/2011.
In Feb 2012,Sister took the liberty directly to call B of A, even though they strongly advise not to contact your Lender personally because if can "jepodize" Ha Ha !Found out by B of A (verbally) who claimed they sent a letter (NO where to be found) that in November they there loan was paid in FULL, and " S L S" is servicing them now.
IT is a disaster and they went to a Lawyer thinking of Chapter 13, can do, too much back + to ever make it and they both have VERY good medical jobs.
Now the rug was pulled from under them with NO options other that BIG $'s up front as FULL arrears repayment. Who in their right mind has $ like that if you "originally" was trying for a "mod" to help REDUCE financial strain.
They (BANKS, SERVERS dragged for MONTHs like "24
... Show more

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