Specialized Loan Servicing
Specialized Loan Servicing Overview
The aggregated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Specialized Loan Servicing has 1.2 star rating based on 202 customer reviews. Consumers are mostly dissatisfied.
- Rating Distribution
Pros: Nada, Dishonest and unethical, Polite customer service rep.
Cons: Poor customer service, Service, Customer service - not easy to do business with.Recent recommendations regarding this business are as follows: "Run. Live in a tent. They will do everything and anything to rip you off especially when it is a conventional loan.", "Pay early and expect to experience recurring website issues.", "Never deal with specialized loan servicing", "Prepare to be frustrated when dealing with this company!", "Don't use SLS".
The aggregated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Specialized Loan Servicing has 1.2 star rating based on 202 customer reviews. Consumers are mostly dissatisfied.
- Rating Distribution
Pros: Nada, Dishonest and unethical, Polite customer service rep.
Cons: Poor customer service, Service, Customer service - not easy to do business with.Recent recommendations regarding this business are as follows: "Run. Live in a tent. They will do everything and anything to rip you off especially when it is a conventional loan.", "Pay early and expect to experience recurring website issues.", "Never deal with specialized loan servicing", "Prepare to be frustrated when dealing with this company!", "Don't use SLS".
Most users want Specialized Loan Servicing to offer a solution to their issues.
Media from reviews
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer
Lump sum only option offered
You are kidding right? They said we were in forbearance too long after Wells Fargo added three months as a convenience after our son took his life in 2022. They have internationally destroyed our financial situation.
Wells Fargo offered three more months as a convenience, then sold to SLS/Newrez/Shellpoint. They denied rolling deferred payments and convinced us to do a loan modification. We did. Made three trial payments.
They marked these 90 days delinquent. Three payments are marked paid as they sold the loan to Selene. The loan modification was to roll deferred payments. They chose not to do that.
They said we were in forbearance too long. They took three payments that we agreed to, then said we also had to do a lump sum. Gotta be the only forbearance person with loan modification stretching the loan from 30 to 40 @ as well as paying a lump sum. Sold to Selene, and even though we had a 0.16 debt-to-income ratio, they decided to make up any excuse under the sun to drag the process out 5 months and add 32k to the reinstatement fee.
Then on our 1955 a month payment, we now have a 7-month trial period for 3555 a month. Taxes and insurance are 2.5 times what we paid on our loan.
Do I win? Most companies are joining together to screw a consumer?
User's recommendation: Run. Live in a tent. They will do everything and anything to rip you off especially when it is a conventional loan.
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerWebsite is often down / non-functioning. Thus, you have to call in to make payments.
Website has been down several (at least 4-5 times). I made several attempts to pay early online but the website was not functioning properly so I had to postpone my payment for another day. This means I don't save as much in interest because of the error on their part.
Preferred solution: The problem fixed.
User's recommendation: Pay early and expect to experience recurring website issues.
Hello good afternoon, this is Yvette...
Hello good afternoon, this is Yvette Huerta-Calhoun. My mother name is Nancy Huerta.
Her daughter is paying her mortgage since 2001 to September, I want to know why her house is foreclosure, my uncle told me what's going on to my mom's house? I have all the receipts together. So her housing mortgage is in California instead in Colorado Customer Care Center. Her address is {{redacted}}.
I want to save her house for her by paying with my money for her house. Her family want me to pay with my money to save her house.
She can't do it on her own that's why I pay the bill for her. Sincerely, Yvette Huerta-Calhoun
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This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerHelp others
Never ever deal with this company. I don't know how the government hasn't stepped in yet.
I will be writing for the rest of my life to every agency I can find and will rewrite. They tried so hard to take my house. After writing to the CPA and Attorney General, even they could, by law, only do so much. The bankers couldn't believe what they were doing.
Because I saved my home and complained, they destroyed my credit by writing late payments from the previous mortgage owner, Bank of America, who I had conversations with about my mortgage late payments. At least they seemed to understand, but then Bank of America gave mortgages to this shady, underhanded business. You would think BOA would at least check who they're throwing us to, but apparently they didn't! I've been in touch with some people in Washington who are really listening to what happened and I will continue to fight on others' behalf.
This is a horrible, horrible company.
Please, stay away! Look at the reviews all over the internet, they're absolutely awful.
- Too many to list
Preferred solution: I’d like to get this company shut down
User's recommendation: Never deal with specialized loan servicing
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerI am dying, I have a terminal illness ( proof sent of diagnosis) and I got behind on my mortgage payment due to cost of medication . I have been paying my mortgage but still behind .
I have a terminal illness and am in home hospice, I asked for help bringing my account current, behind because of cost of medication, I sent in all paperwork and was told to liquidate my home . I sent proof of diagnosis.
But they put in foreclosure status and told me to liquidate my home . I am sick I am dying and they refuse to help me to be able to catch up payment and keep my home.
This company is so very very bad and now was sold to Shellpoint and no one will help me . I dont know what to do.
Preferred solution: Forbearance, formal repayment plan , stop foreclosure and let me catch my payment s up
I saw their reply to you on another board - it was so heartless it was inhuman! I've always hated this company, and now I hate it even more. Have you submitted a complaint to CFPB?
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer |
Farmington, New Hampshire
I have been trying for two days to obtain an address to mail my tax bill
Something as simple as trying to get hold of a human being to get the proper information to mail my tax bill to their company. Phone tree that sends you absolutely nowhere .
I spent over an hour just trying to get in touch with a human to no avail.
User's recommendation: Don't use SLS
Dalton, Georgia
This is so frustrating
Trying to sign in and make a payment is Ridiculous using the website.. I called last week and they told me my account wasnt live yet..
and it would be by Friday July 5th.. guess what it wont let me sign on, so frustrating, if your gonna buy out a company at least know what your doing to make a easy transition!!!
User's recommendation: Prepare to be frustrated when dealing with this company!!
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerVery Poor Customer Service
My mortgage includes a Condo Rider, but Specialized Loan Servicing is still requiring us to carry an additional Condo Property Insurance, on top of the Master Condo Hazard and Master Flood Insurances that are carried by our Association. I have tried calling multiple times and there are no humans that answer, no matter what.
I have faxed to 3 different fax number a copy of our Condo Rider. I have messaged the insurance department the Condo Rider.
NO ONE WORKS HERE. We are obtaining an attorney.
Preferred solution: Full refund
User's recommendation: stay away from this loan company
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer |
Austin, Texas
Resolved: Poor service, constant runaround, no consistent message on requests from consumer
Company fixed the issue and I have been provided with apology. I was provided a solution finally
Second reason for rejection, self employment business failure doesnt' qualify for unemployment.
Third reason for rejection, your payments have to be in delinquency before we can accept the application. Can never communicate to same person, and get different information at every turn from different customer service people.
It looks like a duck, talks like a duck and walks like a duck. This company is banking on you to default so they can profit from their intentional misinformation.
User's recommendation: dont' trust a word from these people, document every call, to the minute detail
Clinton, Maryland
It is very challenging to speak with a live person
We wanted payoff amount and requested it multiple times via email. Checked our junk and spam mail but have nothing so far.
Jumped through hoops to speak with a live agent who was very helpful. Why is it so hard to receive emails and be told on automated phone that it will be a charge for getting payoff amount?
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerDeceptive practices
After repeated efforts to secure loan forebearance or modification, I'm convinced this company has a "built in" protocol to deny or avoid approval. They send letter to contact their customer resolution department with a specfic Teller with ID to contact, but when contacted you are pushed around from one relationship manager to another, who convey totally contradictory information from the previous manager.
After speaking with 5 different relationship managers, never same one, I'm convinced this company "banks" on the borrower becoming delinquent so they can move to foreclosure, and charge more fees. Horrible.
- Poor customer service
Preferred solution: Loan forebearance
User's recommendation: Dont expect to be treated fairly. Pissed is not right word.
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerTHE WORST
The company has a majority of negative reviews on various websites, and you have to ask yourself "why". If I could give this mortgage company a NEGATIVE 10, I would do so.
This company is horrible, do not use them. They are FRAUDULANT.
I was given a quote to pay off my home and the money shows as received on the portal under my account but because I did a wire transfer from my bank instead of a "certified" wire transfer, I need to pay them an additional $338.
This is not what I was TOLD by the multiple agents that I spoke to in the past few days. They are GOUGERS and just trying to take my money and NOT transfer the title to my home to me, they are delaying this purposefully!
- Cutting ties with them so i never need to deal with them
- Nobody you speak with knows what they are talking about
Preferred solution: Full refund
User's recommendation: Run! Do NOT Use this Company
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerWorst Customer services ever
Specialize loan servicing has no sympathy for their customers. I never knew until now that my loan was transferred to this called servicing loan company can treat customers like *** when you try to talk to them with respect and all they do is mistreat their customers and offend, When the American dream Its
becoming a homeowner but with this type of service is a punishment.
Please lets do something about this.
Specialize loan Services should sell all their loans in their portfolios to a real bank to help all homeowners resolved their issues and have a life. life gets harder every day and then deal with type of unprofessional individuals handling a so delicate situation which is our homes.
- Customer service reps have no authority to do anything at all
Preferred solution: Loan Modification
User's recommendation: DON’T DO ANY BUSINESS WITH SPECIALIZE LOAN SERVICES
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerTrying to reach a human being is impossible!
I called trying to talk to someone about my Homeowners Insurance, which I prepaid and the Service paid as well. I just want to talk to a human being and all the prompts have to be 100% accurate or you get thrown right back into prompts again, with no option to speak to a human! My BP had to have been sky high!!!
Preferred solution: Give the option up front to speak to a live person
Houston, Texas
Worst company on the planet
These are the most incompetent people on the planet. Had a bi-weekly auto deduct set up for 15 months without a hitch.
Then suddenly they send me a letter saying I owe them an extra $2700 or so for non-payment. Spent 10 hours and going through 4 department transfers before one representative realized it was a clerical error on their part. Just when I thought I was out of that nightmare, the idiots reported my mortgage payment 30 days late and my credit score dropped over 50 points!
Now I have to dispute all of it! To call them monkeys is insulting to monkeys!
User's recommendation: Don't ever, ever, ever get involved with this company if you can. Worse than getting Covid!!
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer |
Detroit, Michigan
Escrow analysis
I would like to speak to someone in escrow analysis. Ive been trying all day to speak to someone to no avail.
User's recommendation: Stay away.
I’m one of the few, that actually talked to someone in escrow Dept. According to them My escrow is -$5688.00!
NO WAY! I know how much my insurance and property taxes went up, thanks to inflation, but, that’s nowhere near my calculations. Something is wrong? Anybody else???
I think Bank of America dumped my acct., after 28yrs., to “SPECIALIZED Loan Servicing, LLC”. The agent went over the numbers with me over the phone. He obviously knew what he was talking about, he rattled it off before I could even begin to understand. I debated him on it, so he went back over it.
It still doesn’t COMPUTE! Pissed Off Customer.
About
, , , ,
Specialized Loan Servicing LLC (SLS) was incorporated in 2003 by a group of Mortgage Industry professionals. The company primary corporate offices are located in the foothills of the Rocky Mountains outside Denver, Colorado. The associates of the company are equipped with the latest in Internet and call center technology, extensive industry specific training and the proper attitude. Specialized Loan Servicing continues to grow at an industry-leading rate. The company employs the Investor Web technology which is unique in this sphere. Specialized Loan Servicing offers a wide range of payment solutions, among which are: payments via phone, payments via SLS Website, payments via Money Gram and via Western Union.
Specialized Loan Servicing is ranked 357 out of 1132 in Loans and Mortgages category
USA
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And just to show a consistent predatory approach.. The middle firm denied rolling the deferred payments into our loan because they said we were in forbearance too long.
Three added months was a convenience for our sons suicide Then when we made the three months trial payments that are clearly showing three payments made when they transferred to Selene, they did not wait 60 days to report positive payments.
They were marked 90 days delinquent from the second month of the loan. Their focus is creating so much debt and make your credit look so bad they will lie to do it
Where is all your money going if your debt to income ratio is 0.16? Just using your original monthly payment of $1955 and NO other debt, your yearly income is $146,600.
That is without a dime of my business revenue. Over the past 10 years I have averaged high 5 figures low 6 figures.
Even with them crushing our credit score I have been able to raise my score 80 points. Their excuse to ask for business documents were to see if my business had losses to not get an approval. At no point did they or my attorney tell me the reason why they asked for the p and L as well bus checking. Had they told me, it was a simple solution.
Actually they had permission to pull any tax documents. If that was a legitimate concern they could and should have pulled additional tax years to approve the loan modification in September. But after putting every complaint in here in Grok and summarizing it, it is very clear their goal as well as the two previous firms is to do every shady exploit in the book to take a 30year 4 percent loan with a 2100 payment into a 40 year 238000 loan at 4 percent with an 1852 payment and then turn it into a 2970** ** year loan at 8 percent with a 3555 7 month trial period and an unknown loan terms until the 7 months are up. They took a reinstatement fee of 15000 that I was told was a mistake on their part and they would fix it to 32k and then in the last 5 months by asking for the same documents over and over.
This adds 700000 in additional interest to the loan.
Sad thing is the first company added three months of forbearance as a convenience after our son took his life. Please show me at any point in the last three years plus where any of these three firms actually tried to help.
I follow what you are saying and believe you, but I’m asking way back before this started. You said 1955/month payment.
You said debt to income 0.16. I’ll ask same thing a different way. Before the mortgage loan was even one payment late, a 0.16 debt to income ratio just assuming the 1955/month mortgage was only debt, equals yearly income of $146,000. $146,000 is $12,000/month pre-tax and at least $8000/month take-home.
$8000 minus $1955 is $6045 for everything else.
That’s why I asked where is the money going. You are explaining after the fact, I’m asking prior to.
Covid. Then son takes life.
Your world turns upside down. It is so bad they offer 3 additional months forbearance as a convenience. Then sell loan and new player refuses to play by the rules player number 1 convinced you would be used when you signed agreement. Have you lost a child to suicide?
My point is in September 2024 when we had the debt to income ratio I mentioned, the new loan modification should have been approved immediately but they found whatever reason they could make up to prolong the process, add fees and allow them to create a new modification even though they should have followed the previous loan modification as the three month trial period payments were made yet the payments were marked delinquent. These three companies have been found to put their financial benefits in front of helping the consumers that enter forbearance and ask for their guidance to enter and exit the program in a timely manner. They instead, deny rolling the deferred payments into our loan and then create an obstacle difficult to overcome and then use every dirty trick in the book to grow that obstacle. This situation will resolve itself in our favor.
Our State Attorney General is involved but it never should have gotten to this point. I appreciate your question but just curious, what is your reason to be on this site?