Specialized Loan Servicing

by Anonymous From Dallas, TX on January 28, 2013

Been dealing with them for 1 year, they still have modification my loan. Have sent in all the paper work, now they said I was denied because I did sent it in on time. I know I did. they kept ask me to sent different paper after they let them expire. They serve is bad, and they keep change what they say.

by Lisa Hickey From Manzanola, CO on January 21, 2013

Run,,,they are the worst and government is turning a blind eye to servicers like Specialized Loan Servicing SLS. they steal your homes, send in people to fix them up after they kick you out, then resell and make a pretty dollar. If you can find a way to get away from these people, do it!!! Write your congressman! Maybe with enough letters about them someone may raise an eyebrow unless its all backed by some congressman. then you're screwed.

by Anonymous From Wilmington, DE on December 14, 2012

SLS does not do Loan Modifications an you will NEVER, EVER, EVER talk with someone who can make a decision. Just walk away and tell them to shove your house where the sun doesn't shine!!!

by Anonymous From Waterford, MI on November 13, 2012

To the comment from "anonymous From Sheldon Springs, VT". SLS is the problem. I am going through a short-sale because I was forced to move to Germany to keep my job almost 4 years ago and went through a divorce. After about 6 months they rejected the short-sale offer, saying they need a higher offer. I countered and tried to offer the difference on the loan that Freddie Mac wasn't picking up. Because I was unable to talk to a negotiator, it never happened. I decided to take a loan from my parents to get the short-sale to go through and get rid of the house. I requested a pay-off quote... 5 days later I received a refinance package... Are you seriously going to tell me they are not part of the problem? That I did something wrong by requesting a pay-off quote... Come.. I do agree with some of your points. Dear SLS Management, If you look though my paper work, you will probably see an attempt on my part to do a short-sale on my property. As my hardship clearly states, at the time of the hardship, I went through a divorce and was forced to not just move to keep my job, but forced to to move to Germany in order keep my job. According to the federal guidelines, these qualify me for assistance through a short-sale. I started the process on June 10, 2012. After almost 6 months of continuous run around with SLS and the inability to talk to the negotiators or other individuals that are able to make these decisions, getting different stories and different a person every time I called, I finally received a rejection letter for my request to a short-sale that I desperately need to move on with my life. SLS was offered $6k to accept the short sale from Freddie Mac, as the federal guidelines state. I was disgusted by the response from SLS, "We need a higher offer on the property" due to the appraisal that was done. First, any higher offer on the property would go to Freddie Mac and not SLS. Second, where do you get your appraisals done, I would have loved to done my appraisal with the company you used before I was forced to move to Germany for my job and go through divorce, then again, this is probably why America is in so much trouble. So, with that said, I tried to offer a promissory note to cover the remaining approximately $5,500.00 on the loan. But, your system does not allow me to talk to a negotiator. Every time I call, I get a different story from a different person. After almost 6 months of this treatment from SLS, I decided to take a loan from my parents, to pay off the SLS loan. Via your website, I sent a request in for payoff via online on Nov 6, 2012 and at the same time; NAME 1 sent $11,554.xx to pay off the principle balance on loan, via electronic payment. See attached picture for reference number. I waited a week to receive a payoff quote via mail, what did I get in the mail from my online payoff request? I got the attached letter, see pdf document. Apparently I am pre-approved for new terms for my HELOC. Here is my problem, this refinance, does not release the lien on the property. I believe I asked for a short-sale, which logically indicates I don't want the house. Therefore, I DO NOT ACCEPT YOUR OFFER! What part of "Short-Sale" is not understood? Mind you, I requested a "payoff quote from your site", not a refinance request! This tops the cake for me. SLS is not a mortgage company, where are your accreditations? You are a glorified debt collector for mortgage companies. I might add, you are quite good to your real clients, the mortgage companies. Here are my terms: 1) I accept the electronic payoff quote provided by Dude Man, again Thank you Dude Man. 2) Via post, send me the official payoff quote which Dude Man provided to me via email. 3) Accept the payment(s) that were sent from NAME 1 ($1x,xxx.xx) and me ($55.xx). 4) Provide me with a statement indicating a $0 balance on my loan. 5) Provide me with the appropriate mortgage discharge papers. 6) These papers will be provided in a timely manner to allow me to proceed with my short-sale. 7) If these terms are not met, I will be seeking legal action. 8) If SLS tries to reinstate this "loan modification" that was sent to me after asking for a payoff quote, I will seek legal action. 9) If SLS denies these payments and does not return the funds with the appropriate fees I incurred to make the payments, I will seek legal action. Your Disgruntled Customer, Dumbo for owning a house.

by John Brown From Upper Marlboro, MD on October 23, 2012

by anonymous From Sheldon Springs, VT on July 26, 2012

re-post from October 2010 - clearly explains Specialized Loan Servicing is not the problem Probably a good idea to read I have read all the posts from beginning to end. The fundamental thing I see lacking in all comments is this- Specialized Loan SERVICING- they are a SERVICING company. NOT the people who originated your loan. They have no control over that or the terms of your loan. The blame is to be put on the bank/company that your loan originated from. Mortgage servicers DO have investors that make the final decision on any type of workout plan/mod/adjustment on a loan. Those people are outside parties, and more often that not, out of state as well. It does take some TIME to go through processes and there seems to be a lack of patience here. The biggest problem that resonates with almost every angry post on here is that no one seems to have read the terms on the paperwork that was signed when the home was first purchased. SLS has NO control over that. They are required to follow the guidelines and laws. That is what they do and sometimes, unfortunately, that is not always to the benefit of the borrower. The customer service center, as it is almost everywhere, is filled with agents who are not borrower specific. They are chained to a desk, answering calls with a headset attached to their ear 8 hours+ a day. It is the BORROWER'S responsibility to follow all guidelines and pursue action on their own behalf, not the servicer. Being in the industry, I do know that the majority of loans taken over by a servicer are not "bought" by the servicer. The originator has outsourced the servicing of their portfolio, which is where SLS comes into play. For the most part, the loans that come to a servicer were so jacked up from the beginning DUE TO THE ORIGINATOR. Servicing companies have the messes thrown into their laps and are left to try and clean up what was handed to them. I agree wholeheartedly with a post on here- if you people would PAY YOUR BILLS you wouldn't have these headaches. I understand that times are tough and people need help sometimes but I really believe you need to educate yourself more on how mortgages/loans work. That headache could also have been avoided if people would READ their loan docs and have a full understanding of the ins and outs of it. Again, most of the complaints I have seen on here have to do with loan modifications, which means you are behind in payments. What do you expect a business to do- suck it up and let tens of thousands of people default on their loans out of the kindness of their heart? Servicing companies have to answer to their investors. It is not like a credit card with a small balance- we're talking hundreds of thousands of dollars that borrowers OWE on. That is not a debt that can just be forgiven or time allotted to each borrower to get it together. I can sympathize with anyone and everyone who falls on hardships, given the economy the way it is. BUT it is not the servicers fault that life has given you some hardships. I am not stating it is YOUR fault either but life is a constant that will not stop and wait for you to be ready to deal with it. Same goes for debts owed. And as for the lady who is pissed about SLS not accepting a payment from her because she is not on the account and refused to give her transaction numbers- UM HELLO- THAT IS ILLEGAL. In summation, I would venture to say, and would bet some money on it, all the posters here are completely uneducated as to what loans/mortgages/debt practices are. As far as customer service goes, there really is no excuse for that. But for the people who think the customer service agents have any authority to make any decisions regarding your loan, you are sorely mistaken. It is a call center- get real- and they just talk to people and notate accounts. Decisions are made BY THE INVESTOR as far as mods or repayment plans go. Also, most servicers have taken on portfolios from originators who have since GONE UNDER because of THEIR unethical business practices, sub-prime loans they handed out, and people not reading the fine print on their paperwork, unknowingly purchasing a home they cannot afford. THAT is why the housing crisis exists. THAT is why Lehman, Fannie Mae, etc, have gone bye-bye. Greed on THEIR part, not the servicer who gets to stay in the game and face the public while their executives are living their lives on their private jets, ski lodges, yachts, and no doubt mansions that are PAID for.

by Anonymous From Colonial Beach, VA on July 25, 2012

I sent in 2 payments and because I had not included the late fee they only credited my account with one payment and put the remainder of my payment on my balance. I was told I could not pay by check or credit card over the telephone I needed to pay with Western Union. There would be an extra fee of around $10.00. I asked if SLS got a kick back from Western Union for this fee and Andre said EVERY company gets paid for referring Western Union. I told him I wanted to speak to a supervisor and was told one would call me back but there was a 2 day waiting period. Tells me SLS has lots of irate customers. So now I will be hit with another late fee!! Highway robbery. These companies have a license to steal. I did not sign on with SLS I signed up with GMAC so why do I have to adhere to the rules and bad practice policies of SLS ?

by A S From Irvine, CA on June 22, 2012

SLS is a piece of shot company with incompetent people. They can't even fix the loan balance for the last 45 days.

by DL From Fort Worth, TX on June 11, 2012

I went to pay my loan at a Bank of America Branch February 2012. Was told they could not accept it, my loan had been sold to SLS and gave me a number. I called and could not get through because I was not a 'customer' of sls yet as I had not received my welcome letter. Finally got through on a back line and a girl told me they had recently purchased 30-thousand mortgages from Bank of American and not to worry, I would receive a welcome letter in a few weeks. A month goes by and the first letter I receive from SLS is an intent to accelerate because I was two months behind. I called and explained I tried to pay that neither company would accept my payment during the transition. Hurried and made my February payment but was unable to pay for March due to the hefty late fees they had slapped on me and would not remove. Since then I have been one month behind and every other day I get a 'intent to accelerate' letter. I recently received a letter saying my mortgage was going up a hundred dollars a month because there was not enough money in my escrow which oddly there always was with Bank of America. Oh, i finally received my welcome letter , May 24 postmark although the letter was dated February 24th. I firmly believe this company is in the business of taking homes and will use any slip up or excuse they can to get a 100 percent return on their investment. After reading some of the comments on here I have little hope of refinancing with another company. I can only hope for a Federal Probe into SLS.

by Anonymous From Nashua, NH on May 21, 2012

The company holds my equity line and will not accept my refinance value amount so they want me to pay another $135 to drive by my house and confirm or decrease the value of my house. What a bunch of crooks.

by Anonymous From Haiku, HI on April 10, 2012

by HJH From Lancaster, TX on March 25, 2012

Don't know what to do. Loan was transferred from BAC in January 2012. Now trying to get a modification with SLS. So many people are not being help by SLS. Why? Is there something the government can do if they are like Countrywide why are banks transferred our loans?

by Anonymous From Orlando, FL on February 15, 2012

SLS bought my loan and raised payments 2 months later by $400.00. They claimed my state taxes had increased. I got the tax rep on the phone who denied this and faxed them proof of their error. They then said in this same phone call that my house insurance had increased. In a 3-way call with the insurer(a really helpful person who stayed on the line with SLS and me for FOUR HOURS because she couldn't believe this mess and stayed on as a witness, as she clearly stated to them), to be told they would "review my escrow amount." They said it would take 2 weeks. The insurance rep asked if I could pay the original amount until then. The SLS rep said "yes." Yesterday, 2 days later, SLS called to demand the higher amount, now stating that the original mortgage company had "miscalculated my escrow amount from before." SLS admitted in this call that they "didn't really know the projected taxes and were speculating based on history." That didn't make sense because the "history" showed less in taxes for the prior year! I'm contacting the AG of Colorado, my state rep and the BBB. We need to make some NOISE or these fraudulent and manipulative tactics will continue. They are despicable. I wish the other writer had been unselfish enough to put CEO John Beggin's phone number in his statement so Beggins would be deluged with calls!!! If I find it I will POST it. CALL HIM!!!

by Peter Michaels From Alderpoint, CA on February 13, 2012

Specialized Loan Servicing is a criminal enterprise, and the company executives should be indicted under the RICO statutes for organized crime. We had a 2nd at time of purchase (Countrywide scam) and it ended up with SLS. Their customer contact people have always been rude, aggressive, and not very bright. They change dates on documents, they add fraudulent charges and fees to statements, and they refuse to follow Federal or State laws and regulations. Our house was foreclosed late in 2011, and they have yet to send us a 1099. We are in a non-recourse state; so they are pretending that the house did not foreclose, in order to try and bully us into paying the deficiency left for the 2nd mortgage. They call several times a day, everyday. We have consulted attorneys at several points throughout the foreclosure process, and they are unanimous that SLS has no valid claims or recourse. Yet, they persist. Unless they are shut down, and/or they have a massive class action lawsuit they will continue to try to lie, cheat and steal every and any dollar they can get their hands on. I encourage real estate professionals to boycott this company, and for individuals that have any loans, mortgages or contact with these criminals to stand-up against them, and to enlist your state AGs for assistance. These people are dangerous, and they need to be behind bars.

by Mistakes and Fees From San Diego, CA on February 02, 2012

SLS has made "errors" with my loan 3 times. When I complain they say "oops" and correct them. Now they charge $9.95 to pay over the Internet. Or, it's free if you pay after the due date and pay their late fee. Mistakes and fees!

by Anonymous From Hazlehurst, MS on January 18, 2012

by Anonymous From San Leandro, CA on January 03, 2012

Called today again, my 3rd time to call after I reported them to the BBB. Spoke with a female rep, Simone, who can't even pronounce her name right - maybe, an Alias. Anyway, I complained about the amount due which is incorrect. When I called them a few months back, they credited the overcharge because they admitted it was an error. Now I'm back with the same complaint. Which agency do I go to file a formal complaint.

by Anonymous From Taunton, MA on December 31, 2011

butt holes

by steve wright From Waynesboro, MS on December 30, 2011

by Mile Hish From Castle Rock, CO on November 27, 2011

The servicer doesn't own your loan! I wouldn't take some of the advise given regarding removing all items from the property as you will have to pay for them. Read your note and understand it. If you don't understand investors have the right to sell your note to another investor, do some research. If you still don't understand if, find someone smart to explain it to you. No customer service at any company is perfect, that's a fact of life. If you want to complain because you can't pay your bills, join the crowd. Don't buy a home if you can't afford it or if you don't understand the terms of the note!!!

by Morris Swann From Fort Washington, MD on October 28, 2011

This mortgage company is a predatory lending company that is adding fee's to my current mortgage and trying to steal my property.

by Melissa From Burnt Ranch, CA on October 27, 2011

4th time on a Mod work out. Mortgage keeps getting transferred. Now it is with SLS so had to start from scratch Mod attempt #4. I have learned allot. yep allot of BS. These lenders will always string you along with needing one more thing. PEOPLE just know there are documents that are not in your MOD packet that they must need I think everyone should know this so they can be proactive from the beginning before months of petty BS start and you are hung out then you are filed on then you get strung out then you are possibly foreclosed on. Include in your original packet 1) a recent copy of your property tax bill and a hand written letter telling them the status when you are paid through. 2) a copy of your home owners declaration page tells how much your annual home owners bill is make sure it includes the physical address not just your PO box you can get this from your insurance Co if you don't have it correctly. I submitted my Ins. dec page twice taking them over 2 months to finally tell me it did not have the physical address on it...I wonder what new Obama stuff is going to be on Nov 15th....

by Anonymous From Scottsdale, AZ on October 24, 2011

Both my 80 and my 20 mortgage loans were transferred to SLS. I lost the house. I qualify as a non-recourse loan under the statutes of my state, and yet SLS errantly filed a 1099-C (cancellation of debt). The IRS and Senate Revenue & Taxation Committee state that a non-recourse loan has no debt to cancel. SLS also stated that I am personally liable for the amount on the 1099 form, when I am not. Secondly, I did a cash for keys negotiation. The local real estate company representing SLS was absolutely horrible to deal with. They sent me a release form to sign to get the check, which stated that I had already received payment. I told them that that was fraudulent, and I wouldn't sign. They said, "Oh, people always ask about that, but then we tell them that everyone else ends up signing in the end and they do, and it's all okay." I told them I would send them the form signed, but with that section crossed out. They said, "oh, too bad, the bank says you're too late to get the check now." I asked which "bank", looked up the "bank" and found that it had the exact same local 623 area code phone number listed on it's website as the real estate company. I held off the exchange until seeking legal counsel. I told the real estate co. representing SLS that, and yet they sent me a 1099-MISC form saying I had received payment which I hadn't. Third, someone tried to use my debit card number to make a purchase at a brick and mortar store in Littleton, CO. I have no proof, but I suspect that an SLS employee stole my card number, based on the fact that SLS is also in Littleton, CO. Fourth, the "VP of MERS" who assigned my mortgage in foreclosure, is also the individual who reassigned the property to his own company based out of San Diego. That's fraudulent and illegal.

by F Springer From Atlanta, GA on October 19, 2011

This company needs to monitor there customer service representative. I was unable to speak to a representative but since I overlooked paying my bill I told a representative that I made my payment online the prior day but I could not talk at that time. She( Victoria) asked me to stop talking and allow her to finish her spill. I advised her again nicely that I had to hang up and had advice another rep the prior day of the payment. She was rude, and refused to hear me. I can not believe the poor customer service.

by Anonymous From Irvine, CA on September 20, 2011

The most horrible, terrible, unprofessional company i've ever dealt with. They must hire the most idiotic, incompetent, useless human beings for their customer service department.

by anonymous From Murphy, NC on September 12, 2011

Had 80/20% loan originally. SLS bought 2nd (HELOC)from Flagstar. House went in foreclosure; Citimortgage wrote off balance owed on my credit report, as did SLS. but they still hound me for original amount due. Is this legal, even if it shows "discharged" on my credit report?

by rusty duckett From Logansport, IN on August 01, 2011

by cmnolen, Memphis, TN From Memphis, TN on July 15, 2011

Attention John Beggins I have had the unpleasant service of your customer service personnel over the last two years (ms. Leona) who is abruptly rude, nasty and unprofessional. I am the customer I think she has forgotten her role as a customer pleaser. I have had this account over 15 years before your company took possession of it. Now in the last 2/3 years it has been a burden. This was a nonexisting problem before your company took ownership of my loan. $50 a month is suppose to be deducted from my checking account monthly but somehow this is a major task for your personnel. I have had this set up at least 3 times and yet I am again on the phone with your company trying to get it straighten out. Last April I spoke with a supervisor (Larry #10449) and rude ms Leona #10459, who promised that my account would be taken care of and I would never ever have to again in life call you. I am absolutely sick of going through this same scenario. Your personnel lies and fail to do their jobs and I am the one who is penalized as the customer. I am surprise your company has any customers to work with..... You have failed me as a customer and I am completely dissatisfied with your service. When I call in I am highly frustrated, one because I have to deal with an issue that should have been resolved by your personnel and two the customer service rep Leona who is abnoxious rude to me as the customer, and if I take time to call in why do I have to put up with a company who is rude (getting my business). I want Leona and Larry to be reprimanded immediately, for incompetency, unprofessional, rudeness, misrepresenting the company and being ass holes to the customers. CMNolen 4th attempt by Mr. Albert #4247 who patiently listened, shown empathy and promised a follow-up via email that once again my account will be setup to have payments automatically withdrawn. p.s. just in case this is thrown in the trash I will be mailing this to executive service and directly to John Beggins. e.i. I suggest your review team listen to the tapes for the past 2 years and emails I have sent about this same issue that I have to be subjected to by your company....

by Anonymous From Mesa, AZ on May 20, 2011

SLS is completely run by persons of a high school education. They force their borrowers to foreclosure to collect mortgage insurance. Someone needs to file a lawsuit as they underwrite fraudulent loans and should be seized by the FDIC!!!

by Santiago From Atlanta, GA on May 12, 2011

I hope they drown in Class Action Lawsuits and every one of their employees goes to prison for a very long time.

by held hostage From Mesa, AZ on April 21, 2011

I have just recently filed a complaint with the better business bureau because this is the 5th time they have charged me a late fee when i have sent my payments on time. These yahoos have an A+ ratting on the better business bureau so if your like me please file a complaint. I have never missed a payment i have been late once and i always pay $100 over the required amount. There is not a dam thing i can do but company so i will.

by Anonymous From Buford, GA on April 21, 2011

These guys are complete idiots! I called in to increase my monthly payment & they said that my next payment would be made as normal & the new amount would be made the next month. They didn't take the payment automatically & then charged me interest for not making the payment. I had to pay by check over the phone & they charged me $9.95 for a Western Union convenience fee. Their website is so lame, you can't even pay through the site. They are amateurs! I'm terribly sorry for anyone who's had their loan sold to them!

by Randall From Honolulu, HI on April 14, 2011

I have read many of the comments posted. They all seem to state great frustration with loan modifications and the "attack to take their homes". I do work in the housing industry. It is a mess! Empty foreclosed houses stripped of all that can be removed, damaged by the homeowner requiring great repairs, due to anger at the mortgage companies. Homes that are noe sellable in an already depressed market. Banks unwilling to spend more money on a home no one wants due to extensive repairs. I would like to repair them because that is my job. The banks do not want to invest more money. Real estate agents are faced with homes on the market for over a year with no buyers. They also lose interest in the house. As for SLS I would say your scare tactics towards people in default do not help. Your inability to solve the customer service problems within your own company is by design. I have found that most companies who have ongoing problems actually solve them to create a better business environment. SLS continues with the known problems and uses frustration and scare tactics as a tool of gaining SOME monies for the account rather than nothing, not realizing that the final end does not provide a good outcome. While SLS is a debt collector trying to collect money that is truly owed, they fail to realize that most people are indeed uneducated in mortgage matters and take their actions as a personal attack on their home. If SLS would try to be more "user friendly" they would discover that many people really do want to pay for their homes. The others who do not want to pay will be found out. SLS YOU Really ARE taking away all hope sometimes. If I did this to your family you would fight me however you could. I know of your tactics from within and you really do tell your people to do things that frustrate an already stressed system. Should we ask your ex-employees?YOU WILL BE FORCED TO DO THE RIGHT THING SOON! My state is already passing bills in the legislature to make you do the right thing. Watch and see. Try to remember that we are people and not an account. Solve the problem you were dealt!

by sandra rivera From Sycamore, IL on March 24, 2011

even though we have tried to work with them since we were first behind they have no interest in working with us and just ran us in circles with paperwork for 1 year

by sharon smith From Prince Frederick, MD on March 01, 2011

by R. Robinson From Sterling Heights, MI on February 25, 2011

Regardless of whether Specialized Loan Services was the originator of the loan, almost everyone's home is upside down and they make you jump through hoops, lie to you , make you submit the information multiple times, get you to buy an appraisal just to tell you no they won't help you. I have never seen a heartless company before like Specialize Loan Services.

by Anonymous From Sacramento, CA on February 10, 2011

Been trying for a loan modification for 2 years. Fell 1 month behind due to family illness. Tried for a loan mod, said i didn't qualify then said they try to put the past due payment on the back of the loan. After a year they asking for additional documents. They are a joke. If anyone knows anything about a class-action lawsuit please post the info so I can join the class.

by Anonymous From Stony Point, NY on February 02, 2011

by Anonymous From Saint Petersburg, FL on January 30, 2011

Everything negative that has been said is absolutely true. I get a different story every time I call about my loan. We need help and they, SLS, won't help.

by Anonymous From San Jose, CA on January 18, 2011

You should all go after the CEO - John Beggins CFO - Toby Wells VP of Finance at Specialized Loan - Ryan Hokanson VP at Specialized Loan - Jennie Thornton VP, Client Relations, Learning & Development, and Quality Assurance-Holly McLemore VP of Client Relations -John Roden Pre-Foreclosure & Early Resolution Manager - Dana Morales Loan Resolution Manager-David Suell

by Sandie From Houston, TX on January 11, 2011

I have to agree with every single negative comment posted. 4 months into a modification, they wish me to start over. Including paying their fees and their BPO again. I am NOT behind on payments. My modification was requested in an effort to keep that from happening. I submitted all requested documentation in a timely manner and have grown bored with the run-around. I'm not going to submit or pay again. Nor am I going to be told to watch my tone of voice by a pretend customer service rep. In 23 years of home ownership I have never been subject to such treatment. I only wish I knew how to end my relationship with this shiesty company and finish paying my mortgage in peace.

by Micka From Windsor, VT on November 29, 2010

We have been trying to refinance since July and SLS keeps holding things up by not subordinating our equity line. This hold up is costing us many dollars, since this refinance would save us over $200/per month on our primary mortgage. They are telling us that we need to get another appraisal on our property even though they already have one on file which is only 3 months old.

by Anonymous From West Bloomfield, MI on October 24, 2010

This "servicing" company tried to charge us for fees to close our inactive GMAC HELOC. Note: we'd never used the loan while they were "servicing" it. So, we reported them to state regulators. The outcome- SLS closed the loan without us paying a dime. They were out of line and they lost. Contact your state financial regulators it may help. Good Luck. P.S. to those who say "make your payments" we did. Our loan was paid of over a year before these criminals got their hands on it.

by Anonyomous From Littleton, CO on October 20, 2010

Any servicer cannot make the decision on the foreclosure costs/fees/amounts. They are a middle man negotiator for the originator. Although in theory, yes they do represent their investors, they are not allowed, by law, to make decisions. The refusal of the 3K offer is the investor's decision, not SLS's. I see investor refusals every day being in the industry. All SLS can do is pass along the information and offer. Again, it is ultimately the investor's decision on accepting the offer or not.

by Andrea Harlan From Thousand Oaks, CA on October 19, 2010

Currently I have a property listed that has a B of A 1st and an SLS 2nd. The house was on the market for 6 weeks before receiving an offer that I thought the bank would consider. The best offer was $290K because the home is not in good condition, but I was able to secure a buyer who plans to occupy the property and accept the condition (HVAC inoperable, needs a roof and dead landscape, etc). SLS will not agree to anything less than a $12K payoff from the 1st who's max offer to them is $3K. The first filed an NOD several months ago and the trustee sale will be posted any day now. If it gets foreclosed on then SLS will get 0 (big fat goose egg). The previous poster said that they work in the industry and SLS has to answer to investors. When it was brought to the attention of the negotiator that if the property was foreclosed on they wouldn't get any money, she said she hears that every day and simply doesn't care. If that's the case, then from an investors stand point I would prefer $3000 instead of zero. So how is that attitude representing the investor properly? -Andrea Harlan Keller Williams Realty

by Anonymous From Littleton, CO on October 14, 2010

I have read all the posts from beginning to end. The fundamental thing I see lacking in all comments is this- Specialized Loan SERVICING- they are a SERVICING company. NOT the people who originated your loan. They have no control over that or the terms of your loan. The blame is to be put on the bank/company that your loan originated from. Mortgage servicers DO have investors that make the final decision on any type of workout plan/mod/adjustment on a loan. Those people are outside parties, and more often that not, out of state as well. It does take some TIME to go through processes and there seems to be a lack of patience here. The biggest problem that resonates with almost every angry post on here is that no one seems to have read the terms on the paperwork that was signed when the home was first purchased. SLS has NO control over that. They are required to follow the guidelines and laws. That is what they do and sometimes, unfortunately, that is not always to the benefit of the borrower. The customer service center, as it is almost everywhere, is filled with agents who are not borrower specific. They are chained to a desk, answering calls with a headset attached to their ear 8 hours+ a day. It is the BORROWER'S responsibility to follow all guidelines and pursue action on their own behalf, not the servicer. Being in the industry, I do know that the majority of loans taken over by a servicer are not "bought" by the servicer. The originator has outsourced the servicing of their portfolio, which is where SLS comes into play. For the most part, the loans that come to a servicer were so jacked up from the beginning DUE TO THE ORIGINATOR. Servicing companies have the messes thrown into their laps and are left to try anc clean up what was handed to them. I agree wholeheartedly with a post on here- if you people would PAY YOUR BILLS you wouldn't have these headaches. I understand that times are tough and people need help sometimes but I really believe you need to educate yourself more on how mortgages/loans work. That headache could also have been avoided if people would READ their loan docs and have a full understanding of the ins and outs of it. Again, most of the complaints I have seen on here have to do with loan modifications, which means you are behind in payments. What do you expect a business to do- suck it up and let tens of thousands of people default on their loans out of the kindness of their heart? Servicing companies have to answer to their investors. It is not like a credit card with a small balance- we're talking hundreds of thousands of dollars that borrowers OWE on. That is not a debt that can just be forgiven or time allotted to each borrower to get it together. I can sympathize with anyone and everyone who falls on hardships, given the economy the way it is. BUT it is not the servicers fault that life has given you some hardships. I am not stating it is YOUR fault either but life is a constant that will not stop and wait for you to be ready to deal with it. Same goes for debts owed. And as for the lady who is pissed about SLS not accepting a payment from her because she is not on the account and refused to give her transaction numbers- UM HELLO- THAT IS ILLEGAL. In summation, I would venture to say, and would bet some money on it, all the posters here are completely uneducated as to what loans/mortgages/debt practices are. As far as customer service goes, there really is no excuse for that. But for the people who think the customer service agents have any authority to make any decisions regarding your loan, you are sorely mistaken. It is a call center- get real- and they just talk to people and notate accounts. Decisions are made BY THE INVESTOR as far as mods or repayment plans go. Also, most servicers have taken on portfolios from originators who have since GONE UNDER because of THEIR unethical business practices, sub-prime loans they handed out, and people not reading the fine print on their paperwork, unknowingly purchasing a home they cannot afford. THAT is why the housing crisis exists. THAT is why Lehman, Fannie Mae, etc, have gone bye-bye. Greed on THEIR part, not the servicer who gets to stay in the game and face the public while their executives are living their lives on their private jets, ski lodges, yachts, and no doubt mansions that are PAID for.

by Anonymous From Rochester, MI on October 02, 2010

they suck!!!

by Anonymous From Minneapolis, MN on September 28, 2010

What you do to SLS is leave them with nothing. Take the windows, appliances, furnace, ac, carpet, flooring, cabinets, EVERYTHING!!!!!!

by Anonymous From Wilmington, DE on August 25, 2010

When dealing with SLS the best thing you can do is to string them along. Stay in your home for as long as you can, don't make any payments to them, bank the payments you would have sent to SLS, and when the property goes to sheriff's sale in 18 months, remove everything from the property-kitchen cabinets, heaters, copper plumbing, toilets, double hung window etc. Or have a yard sale and sell everything. Take the cash you squirreled away and go rent a nice home while the idiots in congress try to figure out why their Recovery Plan didn't work. SLS will end up with a shell of a property that they can sell for a fraction of the value it would have been.

by s.c. From Colorado Springs, CO on August 18, 2010

All criminals are not in jail...but these should be. They do have the scam game of where is the pea down pat. When offered a modification on our second, we signed all the papers and sent in the new amount. This we have done for a year, with no further actions on their part. Now we are turned over to their collection agency, due to delinquent payments ( the difference between their modification amount and the original amount). How slick is that. We received two letters this week, one from the customer resolution department explaining they're still reviewing our account...and one from the collection department stating we are x amount in arrears blah blah. Upon calling them we were routed to collections who state we can apply for modification but will have to send documents (note: we have supplied all requested docs some 6 times). The collections dept has no record of our docs. What a crock. Once we re-faxed a stack of docs, called to see if they got them and were told.."we don't know the fax dept has to deliver them to us tomorrow" We asked where that dept was, only to be told "Down the hall". Now where's the pea. Today 2 separate agents gave me 2 different amounts they would accept for a pay out. This was on the same phone call. I made a counter offer and they said they could not recommend to the investors (who will forever remain nameless). I insisted he present my offer pointing out he was just a conduit. I will put my offer in print but doubt any investor will ever see it. We the sheep being lead to slaughter surely out number these drones. I personally am declaring "you get what you give" battle upon there puny souls. Let us all flood our state attorney generals office with our honest insights. Filth can only take over if we refuse to clean house. Fear not retaliation, for can it get any worse. Make a second call to your area BBB and insist they arbitrate on your behalf. It's free. If you are close to an SLS office GO there. Scum thrives on darkness. Shed a little eye to eye light on your local agent. Above all keep records, dates, and notations of phone conversations. If you want the harrasing phone calls to stop, request that they not be recorded, they will hang up. Better yet announce you also will be recording (the phone attachment to do so can be purchased at your tech store. This is wage war day. Win or lose we will be heard in a collective roar.

by Anonymous From Brooklyn, NY on July 26, 2010

If all of you are having problems don't just complain to everyone and to SLS. File a complaint with the Colorado Attorney General's office. That is where they are based. Print out all the comments from this page and attach it to your complaint.

by Anonymous From Broken Arrow, OK on July 15, 2010

by COMPLAINERS>>>PAY YOUR BILLS From Grand Island, NE on June 17, 2010

You can complain all you want. If you were to pay your bills on time this would not be an issue. If you cannot afford your house sell it. If you cannot sell you house, please don't hate on SLS. They never asked me to send new docs or more documents because I can read and I sent the required docs per the modification package. ALL the docs, not piece mailed. I answered/returned all of their calls and my modification was completed within 20 days of sending docs.

by Anonymous From Land O Lakes, FL on June 12, 2010

After dealing with all the terrible people at SLS, I have decided to commit suicide, they can have my home my body everything. They know they are committing felonies pursuing me and I no longer have anything to live for. By the time you read this I will be dead.

by Martha Speakman From West Dennis, MA on June 10, 2010

To all you frustrated people...We worked with SLS,after being sold to them after the bank that was holding our mortgage went under in the banking crisis a couple of years ago,they told us all the same baloney they are telling you. They foreclosed and my husband and I have to be out of our house the end of this month. We have been here for 20 years. I was told that the reason SLS was taking our home and they wouldn't modify was because we had equity in the house. We hired 2 lawyers and they didn't help. This company sucks and I hope they all go to hell, because they will never go to heaven doing what they are doing to all of us. I can not stress strongly enough...stay away from this company!!!

by felicia stallworth From New York, NY on May 30, 2010

i tried for a loan modification,sent in the documentation and was told I needed double my monthly income to qualify. i have a job andrent out part of my house and they still refuse to work with them. this loan modification issue is baloney. My loan was sold to this company and now i will have to go in foreclosure in order to get them to work with me. i hired a lawyer. she tried working with them and they still refused to burge. i am going to fight them. they are not going to take my home

by Dr R Kornbrekke From Placitas, NM on April 10, 2010

My mortgage line of credit was sold by GM to SLS. After paying it off early,I have been fighting with them for 6 months to close the account. From holding the pay off amount for a month saying 'they did not know what to do with it' even though it was submitted as payment on their forms. I have repeatedly asked to close the account and when their close out paperwork arrived after 4 months of trying -- it expired the day before it arrived and was no longer valid. Today I got a bill saying THEY owed me 16.28 and another one saying I was 16 days late with 8.72 cents! I strongly recommend avoiding this shyster outfit.

by ALMON THOMPSON From Lithonia, GA on April 01, 2010

We have been trying to get a loan modification for several months with SLS. We have provided all requested documentation to them more than once in a timely manner. We were told that we did qualify for a loan modification and therefore proceeded with providing all their requested paperwork. However, the company will not provide any status update and we had to repeatedly call to see how the loan was progressing. Each time we call, there is a new person to review the loan status with and there is a new scenario about what is happening with the loan. We are asked to repeatedly call back for a status and no real commitment on when the loan would be finally completed. We constantly got a different story about what was happening with the loan every week. Now, in the last minute of them again scheduling our home for foreclosure we are told that the sale will proceed and there is nothing they can do. This is after months of trying to work with them on getting a loan modification and their stalling for what reasons we don’t know!!! How can it be legal for a company to cause people to lose their homes that are legitimately trying to work out their delinquent loan status? Why would they even say they are willing to work with you on a loan modification when that does not seem to be their intention? This cannot be what the federal government intends to happen for homeowners that are trying in good faith to bring their loans current. They have had us send in additional payments and continued to verbally encourage us to believe they were processing a loan modification, while apparently that was not the case. We certainly did not realize the volume of similar complaints that the public has with SLS company. This company has to be investigated the State Attorney General’s Office and the Federal Government. There is no way they should be allowed to cause people to lose their homes because of their unethical business practices, false promises and failure to act in good faith. I will also be contacting my government representatives to investigate this company.

by Craig Cook From Sartell, MN on March 22, 2010

Gone trough heck and back trying to pay off loan. Have had our final payments rejected 3 times for unknown reasons over a three month period. Constant fight to get them to accept final payment and clear my credit rating due to their mistake. First time I have had to fight a company to take my money. Complete incompetence!

by Anonymous From North Bend, WA on March 20, 2010

QUIT CALLING THREE TIMES A DAY!! I pay regularly and on time, and I don't need to talk to you just because you bought my loan.

by FEARFULL From Chesapeake, VA on March 16, 2010

I am fearful as customer by default (EI I do not choose them as my lender that selected my loan) My husband and myself have been in bankruptcy since 2006 only to have it discharged in DEC 2007 because of personal health issues. Refilling in Jan 2008 only to have the economy take my business to the ground and my husbands loss of hours and then struggling to keep up with the 11.25% interest rate only to lose my job the end of 2008. I had been trying desperately to get a modification with this company on the ADJUSTABLE RATE to a fixed rate with no prevail in April of 2009. I then reluctantly hired a modification company to work for me to get this done. Again nothing in a year has been offered from SLS to resolve this issue. I would not recommend this company even to my worst enemy. They are hateful, rude, uncaring and defiantly are not for the American dream of owning a home they want yours. Or for you ro be on the street. They have ran me around to get a letter from the Trustee for an approval to attempted the modification and I got it and they have not submitted any figures to submit to the court for approval from the judge. They are waiting for me to give up I am not. I WILL FIGHT TO KEEP MY HOME. IF you are having the same difficulty I am you can email me at money_srl@verizon.net.

by Refied and Out From Milwaukee, WI on March 09, 2010

Please look at your loan documents carefully. Our 2nd mortgage was sold to them and when they entered all the information they checked Yes for an early Payoff penalty... When I called to inquire about it they said that there was one, I called my previous lender, as when they buy the loan, the initial contract applies they can't change anything, and confirmed that there was no pre-payment penalty - when I called them back with that information they suddenly were willing to 'look into' it and shortly thereafter the Yes changed to an No, however in the meantime we refinanced to get away from them and the amount they requested for pay off included the penalty... I had to call them to have them issue a check. If we had not caught that they would have walked away with a couple thousand dollars. I am certain that this is intentional and a scam for more money. Please be aware.

by John From Whitman, MA on February 25, 2010

My wife and I finally are getting away from SLS. You should be aware that if you filed for individual bankruptcy and your spouse did not you will not receive statements. If you do want statements SLS will commit mortgage fraud by removing the spouse who filed without signatures.

by Jennifer From Modesto, CA on February 22, 2010

Getting a harassment calls from this company on my son's cell phone. Don't even have a loan from this company and I have complained twice before and they assured me that the number is removed. On third time a guy name Andrew answers and when I said I want to make a complaint he laughs at me and said we are multi million dollar company what are You going to do as a little people? Worst customer service. No wonder they have so much complaints!!!

by SLS are the worst! From Fort Collins, CO on February 10, 2010

They were the 2nd mortgage on my home. They would not work with me when I was trying to do a short sale on my home over 2 years ago. The first mortgage was willing to negotiate but not SLS...my home foreclosed as of Aug. 2008. My credit report now reads "Status: Account charged off. $46,130 written off. $2,786 past due as of Feb. 2008. Status Details: This account is scheduled to continue on record until May 2014." I live in Colorado, can they come after me for this money? Will it disappear from my credit report as of May 2014? After reading all of the comments here, I'm don't even feel that it would benefit me to contact them if they are that dishonest. Can anyone answer these questions? I've searched online but read several different things. Help! Scared and confused about the future. I mean if they can eventually come after me for this, I might as file bankruptcy now while my credit is already screwed from the foreclosure. And all this paying off of credit cards was for nothing. HelP please!

by Michele Wright From Pioneertown, CA on February 09, 2010

I can't ever seem to talk to a regular person. it is all pre-recorded robot. no on ever seems to know what is going on with my loan.

by John From Whitman, MA on February 06, 2010

My wife and I are working to get away from SLS a scum sucking company. They do things without signatures on documents and lie to you over the phone.

by Geo From Tacoma, WA on January 27, 2010

After trying for over a year to obtain a modification, we ran out of savings and are now waiting for SLS to Foreclose. We plan to make it very uncomfortable and others may consider doing something similar. Foreclosing will costs SLS somewhere around $60,000 plus. The BPO on our home will cause them to have to have to write off another $50,000 plus. And we are researching bringing suit to recover the amount of the tax liability on the &50,000 write off (debt forgiven) we incur along with all the additional interest we have paid during the time a modification would have stopped the depletion of savings. This all based on all the things you see written on this blog as to their mistakes, false promises and failure to act in good faith. ANY THOUGHTS? gadams001@yahoo.com

by Anonymous From Beaverton, OR on January 14, 2010

We filed bankruptcy in the summer of 2009. All of our payments have always been up to date. When I tried to access my account online, I was denied access because of the "bankruptcy" status. I called the number provided, found the customer service representatives unhelpful and was told statements were a "courtesy". They weren't a "courtesy" before we filed bankruptcy. They are difficult to deal with and near impossible to get in contact with. They suck!!!

by John From Whitman, MA on January 14, 2010

I've been in contact with these IDIOTS!!! and no customer service skills at all. This is what we got when GMAC file for bankruptcy. This company should be investigated by the Federal Government they should shut them down and toss everyone of them into maximum security prison with BIG BUBBA. ONE thing shame on you GMAC for defrauding us.

by Nervose in Dallas From Plano, TX on January 08, 2010

My loan was recently sold to SLS and after reading all of the complaints here you all are getting me very nervous. Because of this I checked with the BBB and here is what I have found. Their has been 1 (one) complaint filed with the BBB in the last 36 months. That complaint was over 24 months ago. If they ar as bad as described below then why aren't more people reporting them to the BBB? If I have any of the issues that have been discussed believe me I will report them to the BBB and any other agency that I can. So until I know better my rating is middle of the road, neither good or bad. Well see if I'm refinancing in the near future because the worst has happened.

by jannet medeiros From Kaneohe, HI on January 07, 2010

they kept us for moths waiting after sending tons of paperwork gave a forbearance after western union did not get there one day late. mix up at that sent payment back serval times it happened and only gave us one week to come up with the payment so we have been paying payments on payment plan. i kept calling every week and i have that on record and then today will not tell us the lender only number 70 and just would believe in obama plan will not participate in that help for us

by Anonymous From Richmond, VA on January 07, 2010

First incident: Sent my payment on time for May 2008. The check didn't cash for over a month until June 1. Mortgage-late reported to credit agencies. Filed a complaint with SLS stating they had ample time to cash the check, but didn't. They ignored me. Second incident: Sent my payment on time for December...check didn't cash...didn't cash...didn't cash. Called 1 week before it would be late. Was told: "Don't worry, we have your check. I see it right here. It'll cash tomorrow." It didn't cash. Called back on the last day of the month. Was told: "We have no record of a check. It must have been lost in the mail. To avoid reporting to credit agency, you need to pay over the phone NOW." I recommend that anyone dealing with them either set up automatic withdrawal or use speed pay. The latter is a rip-off since they charge a $10.00 fee for the "privilege" of paying online.

by Andrea From Richton Park, IL on December 31, 2009

Send all complaints to John Beggins@sls.net and this will escalate your issues.

by ******* OFF From Garwood, NJ on December 29, 2009

I BOUGHT THIS HOME TO HAVE A STABLE FAMILY LIFE,, AND RAISE MY CHILDREN WITH A HOMEY ATMOSPHERE. I THOUGHT I WAS DOING THE RIGHT THING AND PUT EVERYTHING I HAD AS A DOWN PAYMENT.$80,000.00 I FELT LIKE I WAS TAKEN ADVANTAGE OF FROM THE START,, FIRST MY MORTGAGE BROKER SAID MY RATE SHOULD BE AROUND 8 % THEN 2 DAYS BEFORE THE CLOSING THEY TOLD ME IT WAS BUMPED UP TO 10.5 %....I HAD TO TAKE IT OR LOOSE MY DOWN PAYMENT. THEN WHEN I STARTED TO FALL BEHIND I TRIED FOR A LOAN MODIFICATION. @ HOME EQ THEY TOLD ME NO..AND SAID MY LOAN WILL BE SOLD. I TRIED A MODIFICATION WITH THE NEW SERVICER "SLS" ,,, MY GOD THEY STRUNG ME ALONG WITH HOPE FOR ALMOST A YEAR,,I HAVE ALL DOCS SAVED,,,THEN WHEN THEY NEW OF THE SALE DATE WAS GETTING CLOSE THEY TOLD ME NOT TO WORRY "WE HAVE PLENTY OF TIME"....THEN WHEN I STARTED TO GET VERY UPSET AT THE END OF NOVEMBER PRESSING THEM FOR AN ANSWER THEY TOLD ME MY LOAN WAS SOLD !!!! AS OF DECEMBER 1 MY NEW SERVICER IS "AMS SERVICING" OF BUFFALO NY... THEY WILL NOT DO ANYTHING OR LISTEN TO MY PLEAS I ALSO TOLD THEM ABOUT HAMP AND THAT THEY (AMS) HAD TAKEN TARP MONIES AND HAD SIGNED A CONTRACT TO HELP ME GET A Modification,THEY SAID THAT WAS NONE OF MY BUSINESS,, HOW IN GODS NAME THEY GET AWAY WITH THIS??? .... I GUESS I HAD TO MUCH FAITH OR MY STUPIDITY IN THE "SLS" COMPANY THAT I WAS GOING TO GET A MODIFICATION. I FEEL THAT THEY ABUSED ME AND NEVER HAD NO INTENTION ON HELPING ME,,THEY JUST WASTED MY TIME,,AND NOW MY TIME HAS RUN OUT !!! I WISH I COULD SUE "SLS" FOR THE FRAUD THEY DID TO ME. I ALSO DID SOME RESEARCH ON THE NET THAT OTHER PEOPLE HAD THE SAME PROBLEM,,, HUNDREDS OF PEOPLE!! I WANT TO STAY IN MY HOME I AM SO STRESSED OUT AND IN A PANIC,,I DON'T KNOW WHAT TO DO.. I MEAN HOW DO I TELL MY 4 YEAR OLD YOU HAVE TO LEAVE YOUR HOME,,YOUR ROOM,,YOUR PRE-SCHOOL FRIENDS. I HAVE SO MUCH HATE FOR THESE BROKERS,,SERVICERS,, THAT STALL THE MODIFICATION TO THE END SO I AM IN THE ARREARS SO MUCH AND LATE FEES THAT HAVE ACCUMULATED THAT HOW IN HEAVEN CAN I GET OUT FROM UNDER THIS MESS. THEY ARE TRAINED TO DO THIS TO PEOPLE,,THEY SHOULD THROW THEM IN JAIL !!!! ALL I WANTED FROM THE BEGINNING WAS FOR THEM WAS TO HELP ME LOWER MY INTEREST RATE,,IF THEY HELPED ME IN THE BEGINNING I WOULD HAVE NEVER BEEN IN THE ARREARS. PLEASE IF YOU COULD HELP ME I WILL FOREVER IN YOUR DEBT,,IT'S HARD TO ACCEPT ALL OF THIS ESPECIALLY AROUND THE HOLIDAYS,,,NO HUMAN COMPASSION ON THEIR PART, MY SALE DATE IS JAN-6-2010,,I NEED SOME HELP PLEASE,,I HAVE TRIED THE SOCIAL SERVICES AND OTHER PROGRAMS, BUT MY MORTGAGE SERVICER WILL NOT negotiate,,THEY SAID FOR ME TO LEAVE. PLEASE,,CAN SOMEONE HELP ME I HAVE 2 SMALL DAUGHTERS 2 YEARS OLD AND 4 YEARS OLD. I NEED HELP FAST ...PLEASE !!!!!!!!!!!!!! PLEASE HELP ME !!! I AM AT MY END !! THANK-YOU !!

by BSK From Ridgefield, CT on December 16, 2009

These people are the worst kind of thieves. They pretend to be working to help you while scheming how to scam you out of money you don't have. This company should not be in business.

by theodore west From Natchez, MS on December 02, 2009

DIFFICULT TO WORK WITH

by Wellington From Lodi, NJ on November 28, 2009

They are unprofessional people that acquire second loans during loan modifications even if there is no money left to pay them back. It is way of making suffer for having the misfortune of being decent citizen affected by the mismanagement of our past leaders and corporations.

by Dunbar-pappy From Dunbar, WI on November 19, 2009

What a bunch of thieves. Sent foreclosure letter 30 days after acquiring GMAC loan, contrary to any reason, or law. Provided no method to pay them either on line or over automated phone system. If you have any dealings with them, save ALL documents, and record every conversation (forget legal issues, you need ammunition to deal with them).

by Richard Starkey From Colorado Springs, CO on November 16, 2009

by SLS sucks From Clarkston, MI on November 14, 2009

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 Fraudulent 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!!!!!!

by Anonymous From Richmond, VA on November 13, 2009

They are crooks that do not follow legitimate and ethical business practices.

by ALASKA From Anchorage, AK on October 23, 2009

MY Goodness, I CAN RELATE WITH ALMOST EVERYONE HERE. SLS HAS HAD ME SUBMIT MOD DOCUMENTS FOUR TIMES THEN CAME OUT TO MY HOUSE AND CHANGED THE LOCKS, THEN SAID OH SORRY WE WERE TOLD NO ONE LIVED HERE SO WE HAD TO SECURE THE PREMISES. CAN YOU IMAGINE COMING HOME AFTER WORK AND CANNOT GET IN?I HAVE HAD 5 DIFFERENT PEOPLE ON MY CASE AND NOBODY KNOWS Anything. I AM SIMPLY AT MY WITS END WITH THIS COMPANY. I ALSO HAVE MADE 5 PAYMENTS OF TWO 10,000 ONE 9,000 ONE 8,000 AN ONE 6,000 AND NONE OF MY STATEMENTS REFLECT THE payments. HOW DO YOU GET IN TOUCH WITH FTC I AM GOING TO BBB RIGHT NOW. IT IS SAD, I HAVE BEEN THREATENED, YELLED AT, FORECLOSURE FILED ONLY TO BE DISMISSED AFTER I AM CHARGED A FEW THOUSAND,WHEN I Couldn't AFFORD INSURANCE THEY Charged 5,500. CAN YOU IMAGINE? YES YES YES STAY AWAY FROM SLS.

by R. Martin From Phoenix, AZ on October 21, 2009

I am filing bankruptcy and at the same time my house loan was sold to them. I now have a first contact letter threatening me if I don't sign and return a piece of paper stating that the social security number they have listed is valid. They say the IRS will fine me $50.00 for refusing to cooperate and they cannot file my interest payments with the the IRS correctly for the last year if I don't do this. Like hell they can't! I have refinanced my house twice and had my mortgage sold to another company immediately both times, and I have NEVER gotten a letter like this. If they are a legitimate company and they bought my loan, than they can provide this information in January like every other legitimate company has done or I will have my bankruptcy lawyers go after them...I am so sorry for the rest of you stuck with these idiots!

by elvira sanchez From Mount Airy, NC on October 07, 2009

no tienen corazon para ayudar a los que estan en necesidad. llevo desde Marzo tratando de que nos ayuden, aplicando vez tras vez para la modificacion pero no hay respuesta. siempre que llamo no saben con quien hable la ultima vez, ni hay raspuesta para mi aplicacion. es una verguesza de tratar con gente asi.

by Theresa From Rensselaer, NY on October 03, 2009

For Almost a year now my payments has been so screwed up since they ourchased my loan from our old company. They have my taxes so ouuta whack my payment has jumped over $400.00. They are unwilling to admit there mistake even after I show them recently paid tax bills, that are far less than what is on my escrow. They are idiots, noone relays mesaages, so when you call and you talk to someone different, that person has no idea who you talked to last time, what was said...NOTHING. If I had the money to refinance I would, just to not have to deal with these people. Its a Clerical error on thier part that they are not willing to admit, so I over pay.. When I payed the amount I am only supposed to pay.. ( the right amount) they SEND BACK MY PAYMENT.....RIDICULOUS....UN PROFFESSIONAL, POOR CUSTOMER SERVICE....PATHETIC

by Anonymous From Port Richey, FL on October 01, 2009

This comment is 110% true. These people jack you around they don't tell the truth. They are a bunch of liars. Tell all americans that have homes through this company to just sell their homes, or let them take them over, and just go rent. Because this company will eventually collapses. Your better off renting, because you don't have to put up with all the bullcrap of owning a home, and dealing with companies that just want to steal your money than eventually steal your home. Benefits of renting is someone else has to take care of the home while you get the luxury of staying there, outside of paying rent and utilities. You don't have to worry about maintaining all the major expenses in the home.

by Anonymous From Redwood City, CA on September 28, 2009

SLS froze our HELOC without warning or cause. After one year, we paid $500 for a new appraisal, waited 60 days, then were asked to file a financial form, and waited another 60 days. We called our Representative Jackie Speer and they helped file a complaint against SLS. Finally SLS unfroze our HELOC, but did not inform us that they don't wire funds anymore. So now we are waiting another two weeks (we hope) for new checks. Very bad company to do business with. We were stuck with them after our HELOC was sold to them.

by Stephanie Hood From Winder, GA on September 24, 2009

by donyelle january From New Iberia, LA on August 27, 2009

by Anonymous From Castroville, CA on August 24, 2009

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!

by Anonymous From Naples, ME on August 18, 2009

by Anonymous From Port Charlotte, FL on August 02, 2009

by Anonymous From Port Charlotte, FL on August 01, 2009

I have tried for almost 2 years to save my home and they would not work with me. I am a single parent of two childern and I have lost my house to foreclosure and now we are homeless. They are a loan company that should not be in business.

by Leslie From Corona, CA on July 21, 2009

These people are dishonest and did not work with our family in good faith to negotiate a loan modification. We avoided a foreclosure auction sale by less than two weeks, after months of telling them of the upcoming default sale date. Now that the loan mod. went through, they are trying to charge us extra fees "related" to our loan mod. that weren't disclosed in our loan modification papers. Completely incompetent and dishonest. Do not use this company - ever!

by T. Chester From Albuquerque, NM on July 21, 2009

SLS is the WORST !!! Tried in vain to obtain a loan modification, Only getting several different answers from them, finnaly they decided NOT to modify the loan. said "investors" would not approve the modification and to try in a couple of months to modify loan again. Couple of months ? My loan would readjust and I defintely could not afford payments. SLS seems like it's playing games. I am going to Email the White House, HUD and the state attorney general about their practices. They "string" U along, give U all these "pretty" figures and raise your hopes. Hope I can get from up under them by refinancing with another company. Consumers, Beware of SLS !!!!!

by erin decher From Hemlock, MI on June 30, 2009

they always tell us we just need this one more document and then we will be all set and then it's been too long everything needs to be updated and then 30 days later the process starts all over again and they tell us they dont have to help us because they are just a holding company not a mortgage company

by Anonymous From Norwalk, CA on June 18, 2009

I've been reading negative information about SLS for over a year now on the NET. I am now starting to see the same problems I've been having for over a year with SLS on a much larger scale. My home was sold this month and I was given an eviction notice by the Sheriffs last week. I'm still in my home stressed out, waiting for that final knock to get out. I have been unable to get ANY type of help. I accepted a solicitation (after over a hundred) to help me, "I got screwed hard". The guy took what money I gave him and RAN. IS THERE ANY HONEST,TRUTHFUL PEOPLE LEFT, WHO CARE AND CAN HELP ???????

by julie stevens From Norcross, GA on June 07, 2009

THEY are crooks!!

by moreen myers From Valley Stream, NY on June 05, 2009

i am totally satisfied with them. simply the most helpful servicing company i have ever dealt with.i am happy with them.

by Anonymous From Cape Coral, FL on May 27, 2009

I am not really sure what to think yet about this company...I see the sucking of the well dry, but I have yet to give in entirely! I went for a modification on my loan that YES was just bought out by them and have been trying to do this for over two months and I get all different answers saying my payment is going to go down Oh wait we need the next months payment before it goes past due and we have to put it into foreclosure...so what do I do I send them another payment waiting to hear from them and then we talk just about the time another payment is due.....while my account is going dry I received in the mail just before the Holiday that they need close to 5000 and it is not even a modification but rather they are deferring payments and this is the money I owe for escrow and what ever else I forget at this moment....and it is to be sent in no later then the 26th of this month 'ok so that date has past but I was told as long as they have it by the first of June...I am afraid I am going to feed the fish all that is left in food and I am going to be sucked dry by these people now that I have read all your forms! And the only reason I fell behind on my payments was because my wife's mother passed away and we had to pay her funeral cost and then her father past one day short of eight months from her mother's death and we also had to pay for his funeral expenses....only to find out my wife has cancer now and I have no insurance on her so one can imagine our medical payments...and she is to have another operation in June...spoke to someone from SLS's and what I get is Oh I see they took it as a short set back and that you would be able to afford your payments....OMG how does one figure that after I wrote and explained what was going on in our lives...now I get well we can do a one two three step where the payments would be set for so much one year another the second year and then the third year we are locked in, only trouble is the payments I was quoted are what we are paying now that got us behind HELLO....what am I suppose to do pick money off a money tree somewhere, if so please point me to it! I am so lost and so scared for not only my home that I could care less take it back we owe a heck of allot more then they will ever see out of it in our life time with this housing crunch...but my wife wants her home she worked hard to get it and does not want to lose it, my worries are I do not want to lose my wife...stress fuels cancer and SLS cause's stress...so do I send what they want and stick with the payments I am not going to be able to make and have nothing in the bank to fall back on? Do I go for the one two three step and not get anywhere I have three days and I will be three months behind...Lord help me find the right answer and everyone on here thanks for your inputs.

by Anonymous From Compton, CA on May 07, 2009

by Anonymous From Bluffton, SC on April 27, 2009

i work on commission only and its slow right now but have been at the same job for nine years. lately, i usually make ends meet but just barely and so far no late payments and still have great credit and somehow i don't qualify for a modification? they need to see more income. HUHHH! IF I HAD MORE INCOME I WOULDNT BE ASKING FOR HELP! they love to say "well if you cant afford it you can't afford it" , also was originally told no problem youll get the new lower bill in the mail, as long as i agreed to pay 280$ by the end of the next month. when i didnt get it i called and was told they needed more information and then i didnt qualify have been dealing with them to no avail ever since.

by zoldn From Miami Beach, FL on April 22, 2009

sls would rather me sell my home for a 258,000.00 loss than set up a modification plan....sxure when you r getting the taxpayers tarp money

by Kat From Tehachapi, CA on April 21, 2009

If you have an escrow account there, watch your statements very closely. For two years in a row now (May 2008 and Jan 2009) my account was erroneously charged two PMI payments in one month. The one in 2008 was handled immediately, but the one in 2009, has been slow going. I've had 3 phone conversations and received no resolution to date...just different answers as to what they are doing about it and continued post-ponments of the credit due back to my escrow. I'm putting my complaints and demands in writing today per advice from the FTC on how to deal with mortgage servicing companies. We'll see what happens. If this isn't resolved soon I will be filing complaints with FTC and with the BBB. I kind of wonder if this is an isolated problem or if it is widespread among their customers...maybe an FTC filing is needed regardless of my resolution.

by diedra delaney From Norcross, GA on April 08, 2009

this has been the biggest nightmare ever i feel I've been lied to and this entire process has been so fraudulent! specialized loan servicing and american home mortgage need to be stopped or reported!

by Anonymous From Placentia, CA on April 03, 2009

I'm staying in my home. Who does own this company, they won't tell you. They are in the business of taking homes. Handcuffs or a body bag?

by Michigan From Traverse City, MI on March 21, 2009

This company is worthless in helping anyone out. I called them to let them know I lost my job and was waiting for unemployment to see if I was going to get it. They told me "well, if we don't get such amount by the end of the month, we start foreclosure process." I told them it could take 4-6 weeks before I would know if I got any unemployment. And if I got unemployment there was no way I could make the payment. I just sent them my paperwork for loan modification, no one called me back. Now they won't do anything without "proof" that I am out of work. They would rather have you lose your house then offer a short sale. I asked them about that, and they wouldn't answer. I told them the house had been listed over a year with no offers. They still wouldn't help me...they must wait. In this economy, with homes not selling, they would rather screw you over then help you. So, go ahead SLS, take my house back and get less then a short sale could have brought you. good luck selling a house in Michigan.

by Anonymous From San Francisco, CA on March 17, 2009

SLS-It's probably invested by MADOFF because they don't care about other people even when they're down. They just want their money. I tried negotiating w/ them and they don't give a damn...They even try to treaten me.

by Anonymous From Glendale, AZ on March 04, 2009

The worst company ever in history. I have been trying for over 9 weeks to do a modification and they never call us back. They don't work on your case until you call them. Never think their working on your mod because they don't due to all the calls they are getting is what they say. I was told 3 different answers for a mod and 4 weeks later they have a new form and now I don't qualify because they don't look at any other bills you pay out. But they couldn't call me to tell me this. They tell you that they can help lower your payment and then someone else tells you NO. All you get is the run around from them. Dont waste your time on them. They don't care if you lose your house. I wish I was in Colorado and show up at their doorstep. The company needs to close down since they don't do anything for anybody. They are FULL of LIES and stories, they say they will call you back, don't believe it. Their forms change every day. They even told me to do a SHORT SALE. I will never EVER have SLS as long as I live.

by Anonymous From Houston, TX on February 26, 2009

Hurricane Ike and the economy slide messed up my kind of business. I asked SLS for help and I was asked to send in some documents. I sent them in and was never heard from them for a while. I called and I was given a contact person. That contact person emailed me what to do. I sent him the information he needed and he never responded. I called again and he wasn't in but the guy that answered the phone told me that the documents I sent in are out-dated. I told him that's because I never got a respond from my contact person. Then I sent up-dated information, and, just like before, I never got a respond. I had to called in several times and besides them giving me a different new contact persons with an extension numbers, the persons I've talked to told me what to do. In the meantime, I got letters of warnings of foreclosure from their lawyers and phone calls everyday. I was scared like hell. I have family and with the job slowing down, it was living in hell for the first time of my life. All I wanted some help until I get back on my feet. That's all I wanted is some mercy and patience. I could not imagine my family becoming a homeless bunch. I have pride and all I need is some times to catch up. To be honest, I even thought about committing suicide because I was very scared and maybe get some attention of the many of us with this problem. Finally, I was able to connect with my last appointed contact person. This lady did her best to help me. I'm still struggling but at least my family has a house. I still have to catch up but I never failed to pray and asked God for help. It was not easy, but a nightmare. I hope everyone with this housing nightmare will come to pass.

by Joe From Fernley, NV on February 24, 2009

Due to family illness in 2007 my wife and I had to move to Nevada from Washington. The result was a short sale of our house. We did an 80/20 split when we purchased the house. We owed SLS (the second mortgage holder) $39,000.00. They required a promissory note for the $9,000 they were going to be short to complete the sale, which we signed. A few months later I received a 1099c filed with the IRS showing the cancellation of debt for the $9,000. Here is the kicker...they still expect me to pay them the $9,000!!! I am now contacting my Representatives, Attorney General, etc. as I believe this it is illegal. My understanding when I signed the promissory note was that it was intended to pay-off my outstanding balance on my mortgage. Crooked company, would love to get the phone number for John Beggins and see what his thoughts are on the matter, maybe someone would like to get a class action suit going!

by Lucy Weinrich From East Helena, MT on February 23, 2009

I have been talking with them and upon me telling them what I need help with, they become irritated and start raising their voice and seem angry that I dared tell them that this solution would not work.

by Anonymous From Los Angeles, CA on February 12, 2009

They are the worst co i have ever dealt with

by catia From Pittsburgh, PA on February 12, 2009

STAY AWAY FROM SLS AT ALL COST! My mortgage service rights were bought by SLS. This was the beginning of a 3 year nightmare. Calls every day all day, even when pymt is not late. Fraudulent charges about. They even send people to your house. YES SLS SENDS PEOPLE TO YOUR HOME. ANd then they charge you fot it.This happened to me when I wasn't late. SLS tried to force me to buy their shotty Home Owners Ins when I had a paid in full policy. Also, there is NO person in the Customer Resolutions Dept--You Heard it right--you must send a QWR for any questions to get answered--and they do not answer QWR. Many many violations. They are in the "equity stripping business"--don't go for their loans--it's all BS.

by Anonymous From Rialto, CA on February 01, 2009

SLS getting forms and speaking with this company is very hard

by Suzette From Gilbert, AZ on December 31, 2008

We had a very GOOD experience with them. They just remodified out loan and every went as explained. Very easy to do and they didn't charge us thousnads of dollars to do it either! Thank you!!!

by Suzette From Gilbert, AZ on December 31, 2008

We had a very GOOD experience with them. They just remodified out loan and every went as explained. Very easy to do and they didn't charge us thousnads of dollars to do it either! Thank you!!!

by happy camper From Lawrenceville, GA on December 29, 2008

The only problem I had with these people was that they would hold my extra payments with out applying them to the principle unless I called and complained. After this happened for a few months in a row. I did my due diligence and was able to get the CEO direct line. I called Mr John Beggins personally and explained my problem to him. I must say that he really started to listen when I mentioned that I thought that he was in breach of the Federal Fair Debt Collection Practices Act. And that if this was not fixed. I would report him. It was then that I sensed that he really stated to listen. He excused him self stating that he had a meeting to go to and arranged for a conference call with my self Mr Beggins and his CFO. They actually called me back within an hour. During that call I mentioned that I would be recording the conversation. We came to an agreement that I was to receive an email with confirmation of each extra payment including the remaining balance. this was to happen every time I made a payment. This was about a year ago. So far everything is going great.Unfortunately I feel like I should hold back from listing that phone number because I don't want everyone calling him, forcing him to change his number. I might need it in the future. Sorry. My suggestion would be to check with the BBB. They have some numbers of some high level people that should be able to help. Don't even bother with the "customer service" there useless. Go straight to the top if you want real action. and don't forget to mention the Federal Fair Debt Collection Practices Act!!!!!!! Good luck

by happy camper From Lawrenceville, GA on December 29, 2008

The only problem I had with these people was that they would hold my extra payments with out applying them to the principle unless I called and complained. After this happened for a few months in a row. I did my due diligence and was able to get the CEO direct line. I called Mr John Beggins personally and explained my problem to him. I must say that he really started to listen when I mentioned that I thought that he was in breach of the Federal Fair Debt Collection Practices Act. And that if this was not fixed. I would report him. It was then that I sensed that he really stated to listen. He excused him self stating that he had a meeting to go to and arranged for a conference call with my self Mr Beggins and his CFO. They actually called me back within an hour. During that call I mentioned that I would be recording the conversation. We came to an agreement that I was to receive an email with confirmation of each extra payment including the remaining balance. this was to happen every time I made a payment. This was about a year ago. So far everything is going great.Unfortunately I feel like I should hold back from listing that phone number because I don't want everyone calling him, forcing him to change his number. I might need it in the future. Sorry. My suggestion would be to check with the BBB. They have some numbers of some high level people that should be able to help. Don't even bother with the "customer service" there useless. Go straight to the top if you want real action. and don't forget to mention the Federal Fair Debt Collection Practices Act!!!!!!! Good luck

by happy camper From Lawrenceville, GA on December 29, 2008

The only problem I had with these people was that they would hold my extra payments with out applying them to the principle unless I called and complained. after this happened for a few moths in a row I did my due diligence and found the CEO direct line. I called Mr John Beggins personally and explained my problem to him. I must say that he really started to listen when I mentioned that I thought that he was in breach of the Federal Fair Debt Collection Practices Act. And that if this was not fixed i would report him. it was then that I sensed that he stated to listen. He was busy at the time but arranged for a conference call with my self Mr Beggins and his CFO. During that call i mentioned that I was recording the conversations. We came to an agreement that i would receive an email with confirmation of the extra payment including the remaining balance. This was about a year ago. So far everything is going great.Unfortunately I will hold back from listing that phone number because I don't want everyone to call him forcing him to change the number. I might need it in the future. Sorry. My suggestion would be to check with the bbb. They have some numbers of some high level people that should be able to help. Don't even bother with the "customer service" there useless.

by E From Lawrenceville, GA on December 29, 2008

The only problem i had with these people was that they would hold my extra payments. In other words they neglected to apply them to the principle unless I called and complained. I did my due diligence and found the CEO direct line. I called Mr John Beggins personally and explained my problem to him. I must say that he really strated to listen when i mentioned that i would report him to the Federal fair housing commition He was busy at the time but arranged a time for a conference call with my self Mr Beggins and his CFO who

by David Meriwether From Grand Blanc, MI on December 29, 2008

by ANNETTE GONZALEZ From Menifee, CA on December 20, 2008

by Anonymous From Denver, CO on December 03, 2008

They said they would work with me, and now will not return any of my phone calls. Have left messages for over one week, with no return calls.

by Paul Paladie From Saint Charles, MN on November 11, 2008

While I was on active duty they would not lower interset rates

by Virgil From Glendale, AZ on November 05, 2008

I think it's sweet the way they call me all month long to see how I'm doing (unless I pay them at the beginning of the month, which I never do). They love me, I'm sure.

by Life can't any than it is now THNX SLS From Placentia, CA on November 03, 2008

I have found out through court doc's that this company has lost in LA County Courts recentally for "FRAUD & MIS-REPRESENTATION". That there seems to be some type of "SHELL GAME" going on, a lot of DBA's filled leading back to the same persons ..... I will not same much about my problem with other than it "HAD" caused me to think of wanting to do a very stupid thing. I'm a classII bi-polar manic-depresanr and have not had any problems in over 15 years with my mental state of mind. All that "I've gained, I have lost" because the same issues with this companey. Please,no one worry I getting the help I need with my head. OH YEAH,I've gathered a bunch of info to present to city, stae and federal agencies next week. Everyone that I've spoken with "ALL AGREE" that there is a "BIG PROBLEM" with this group and are willing to go after them. I lost my home of over 10 years because I refied with them. Anonymos from Lone Tree & Austin are on crack .....

by Anonymous From Golden, CO on October 29, 2008

Their service reps give out bad information and are uninformed. One sent me a bunch of documents that had nothing to do with my request and then refused to respond to my return e-mails.

by Anonymous From Birmingham, AL on October 16, 2008

I was asked to summit information so they could consider modifying my loan I sent the information in but no one will return my calls or give me any more information. I sent this same information be fore we got behind trying to get help from them but no help came, they still would not respond. I feel they are trying to take my home. This company does not care about anything but money. You are just number to them please please stay away form this company.

by NOPE From Spring Hill, TN on October 09, 2008

I CALLED TO GET A FIXED RATE. I WAS NOT LATE ON ANY PYMTS BUT MY LOAN IS SET TO ADJUST IN APR. I STARTED THE MODIFICATION PROCESS TO GET THE FIXED RATE AND CONTINUE TO MAKE MY MONTHLY PYMTS. I WAS TOLD ON YESTERDAY,MY SEPT PYMT WAS IN A SUSPENSE ACCOUNT SINCE THE MOD WASN'T COMPLETED IN SEPT THEREFORE CAUSING MY PYMT TO SHOW LATE ON MY CREDIT REPORT..WHAT??? THEY RECEIVED THE PAYMENT ON TIME FOR THE FULL AMOUNT AND THEY ARE REPORTING MY PAYMENT LATE BECAUSE THEY HAVENT COMPLETED THEIR PROCESS. I HAVE NEVER IN MY LIFE HEARD OF A COMPANY THAT SAYS WE RECEIVED YOUR CORRECT PAYMENT ON TIME BUT WILL REPORT YOU LATE. THIS COMPANY IS HORRIBLE. EVERY REP I SPEAK WITH TELLS ME SOMETHING ENTIRELY DIFFERENT FROM THE OTHER REP AND FINISHED UP WITH "I'M SORRY YOU WERE MIS INFORMED" NEVER OFFERING TO CORRECT THEIR MISTAKE!!!!OH BROTHER...

by NOPE From Spring Hill, TN on October 09, 2008

I CALLED TO GET A FIXED RATE. I WAS NOT LATE ON ANY PYMTS BUT MY LOAN IS SET TO ADJUST IN APR. I STARTED THE MODIFICATION PROCESS TO GET THE FIXED RATE AND CONTINUE TO MAKE MY MONTHLY PYMTS. I WAS TOLD ON YESTERDAY,MY SEPT PYMT WAS IN A SUSPENSE ACCOUNT SINCE THE MOD WASN'T COMPLETED IN SEPT THEREFORE CAUSING MY PYMT TO SHOW LATE ON MY CREDIT REPORT..WHAT??? THEY RECEIVED THE PAYMENT ON TIME FOR THE FULL AMOUNT AND THEY ARE REPORTING MY PAYMENT LATE BECAUSE THEY HAVENT COMPLETED THEIR PROCESS. I HAVE NEVER IN MY LIFE HEARD OF A COMPANY THAT SAYS WE RECEIVED YOUR CORRECT PAYMENT ON TIME BUT WILL REPORT YOU LATE. THIS COMPANY IS HORRIBLE. EVERY REP I SPEAK WITH TELLS ME SOMETHING ENTIRELY DIFFERENT FROM THE OTHER REP AND FINISHED UP WITH "I'M SORRY YOU WERE MIS INFORMED" NEVER OFFERING TO CORRECT THEIR MISTAKE!!!!OH BROTHER...

by Chad Magdalik From Azusa, CA on October 04, 2008

Do yourself a favor, and stay away from SLS. They will take you for every penny you have unless your one of the lucky few. They don't care about their customers. Well maybe the few that claim they have it good, and they read the fine print. I'm still trying to figure out why they charged me five bucks for paying over the internet.(bullshit)...I honesty believe they treat u better u have more to lose than they do. Anyway, I had a great second lender (prior to SLS) who offered great customer service, and then my loan was sold to this scum bags... SLS, maybe someday you'll actually practice what u preach.... until then, I hope you burn in (you know).... Love your'e former customer.... please note, I have noting negative to say about my previous mortgage lenders and my current first lender.

by Taunee English From Winnetka, CA on August 10, 2008

by Anonymous From Los Angeles, CA on August 07, 2008

Promises,Promises, Promises, of loan modification and still waiting after 10 months.

by SLS HATER From Pearland, TX on June 27, 2008

I HATE THESE GUYS AND I WISH THEIR EMPLOYEES WOULD STOP POSTING ON THIS BLOG. I WILL BE BUILDING A WEBSITE COMING SEPTEMBER 2008 TITLED IHATESLS.COM. IT WILL BE THE PLACE WHERE WE CAN ALL POST OUR CONCERNS AND GENERATE ENOUGH INFORMATION TO TAKE TO THE ATTORNEY GENERAL OF COLORADO TO FILE A CLASS ACTION LAWSUIT.

by ken goolsby From Long Beach, CA on June 19, 2008

by S Minor From Los Angeles, CA on June 17, 2008

Throughly incompetant and ruthlessly crooked, but at least polite about it!

by anonymus From Clinton Corners, NY on May 19, 2008

Wasted my time & actually called me to tell me that I was aproved for a complete loan modification & gave me rates and everything, only to tell me a week later that they made a mistake and that I was apporved for a short term repayment program they knew I could not possibly handle. This was after the FOURTH time a modification program was started and then cancelled by SLS. I absolutely feel this company misled me. Do not waste your time with this company

by Bill From Glendale, CA on May 17, 2008

It's pretty obvious that the complaints are from people who signed a note they didn't read. Blame the originator, not the servicer. Read what you sign and don't shoot the messenger! The fact that they are still in business in a market like this shows they must know what they are doing!

by Bill From Glendale, CA on May 17, 2008

It's pretty obvious that the complaints are from people who signed a note they didn't read. Blame the originator, not the servicer. Read what you sign and don't shoot the messenger! The fact that they are still in business in a market like this shows they must know what they are doing!

by Toni From Chandler, AZ on May 12, 2008

This company lies and refuses to respond to legitimate complaints. I will never again deal with a mortgage broker who uses this dis-servicing company.

by Laurie from Woodstock, Ga From Woodstock, GA on May 07, 2008

Hey Stan From Puyallup, WA I had a very simular situation happen to me when making my May 2008 payment, only I was a little lucky in that they submitted my payment to the bank for less than the amount I wrote the check for. When I callerd to complain, customer service didn't seem very concerned about the issue. They handle check payment through a lock box, which doesn't seem to be very reliable. But making payments over the phone or on-line costs 5.00 for each payment. No other company I do business with does that. Go figure... I wonder if anyone has had a recent issue with a mailed payment getting posted incorrectly to their banka ccount.

by Stan From Puyallup, WA on April 30, 2008

I am active duty military and SLS refuses to reduce my interest rate to 6% as outlined in the Soldier's and Sailor's Relief Act. Also, they once tried to change a 400.00 payment to 4,000 and run it thru my bank electronically. Never deal with these crooks if you can help it. I would love to be part of a class action lawsuit against them.

by Shanna From Avon, IN on April 07, 2008

they just give you the run around!! I had a fraud situation and they did nothing to help even though they had police reports and Attorny general letters..

by Anonymous From Littleton, CO on March 27, 2008

Even though it took some time to get my modification through the intire process (which did take two months) I was set up on a lower interest rate that is fixed for the rest of my loan. Before SLS my loan was with SPS and they do not consider modifications and will only work out a short sale if your home has been on the market for at least 90days. I have to agree some people signed bad loans out there and now they want someone to blame, people want lower interest rates on contracts they shouldn't have signed. Its sad to be living in one of the greatest counties and have so many people who want everything for free. The lack of responsiblity on some of the comments here blow me away. Good luck SLS to helping customer who need it and DESERVE it.

by brenda Hall From Falmouth, IN on March 25, 2008

I am totally not satisfied..We did get behind but whilet trying to get tjhings caught back up through a repayment plan and a modification.. somehow they just manage to forget to get a paper signed and admitted it was their fault but now wont return my calls .. through my mother-inlaw callin several people at SLS for me, they have come up with a deal that is almost impossible to the average person.

by Patty Lopez From Phoenix, AZ on March 19, 2008

by Frank Osmond From Austin, TX on February 06, 2008

Simply the most helpful servicing company i have ever dealt with. Sounds like all of the other bad experiences are a mixture of misunderstanding the terms of the original notes, and people in bad situations simply lashing out. Most servicing companies don't control the specifics of what they can do to a loan, or even own them for that matter. These people are top notch in my opinion.

by Upset 1st Time Buyer!!!! From Kansas City, KS on January 24, 2008

I was unfortunately 1 of those people a couple of years ago who got a very shady deal from Mid-West Equity mortgage in Lenexa, KS. They shoved me around with multiple lenders over the past 2 years, once I finally get to SLS they were ok at first, I kept overpaying when I could leaving $ in my suspense account, I had gotten behind & we worked out a repayment plan,in which 1 month we scrapped together every last penny we had in our pockets only leaving pocket lint, that would equal a full payment with what was in our suspense account, i spent $15 to send them the payment expressly, just to have them return my payment 3 weeks later saying they would no longer accept my payments & now they are foreclosing on me when my $ was there!! I have been in contact with them very diligently for months (since August) trying to get another repayment plan/ loan modification in which they say i am eligible for, which is great however, every month I get rolled over to a new "loan counselor" in which all of the previous months work that I have completed at their request in a timely manner, I have to start all over back at square one with a new person telling me that my paperwork is too old for them to work with!! They tell me we need to make enough $ to cover our mortgage, bills, & have a 10% surplus "In Case Of Emergency" then they will renegotiate/modify the loan. My fiance is a home builder, & yes the market is bad, but our payments keep climbing (over $1150/monthly) now that the rate is adjustable, we make a combined income of apx. $3000 monthly our bills are down to around $800, we go to food pantries to eat, we have a 20 month old, & child support to pay, I am in school full time & by the time I graduate in May I will be able to get back on track which I will have adequate income to support the mortgage, bills, & everything (our monthly income will double then) we have a court date at the end of February, in which if they do go ahead & foreclose I will have to be out of my house 3 months after sheriff's sale which will make it around June, I will be in my job then & how frustrating it will be if after all my efforts, stress, & fight to save my home & credit in which I have been dealing with this terrible mess all thru school will have been thrown out to the trash. Even though SLS wants to tell me "WE DON'T WANT YOUR HOUSE WE WANT TO HELP" I truly feel its all just a game that I must ask if they don't want my home then why do they keep making me jump thru hoops make believing that we can & will resolve this? I'm very frustrated, they keep sharking their lawyers after me running up fees & charges after they have already told me what the lawyers fees are, just yesterday I got more legal paperwork I don't understand except for the fact that now they are charging me over $300 more for their lawyer & a skip trace fee to locate me when I have never hid from them or that they have ever had to "Trace me" especially when they know exactly where I am which is at the property address which is verified of my occupancy every time I speak to them. All I have to say is they are making me a complete STRESS VICTIM! They keep playing games & all I am wanting to do is resolve this quickly & sooner than later, if they don't want my house then why why won't they just work it out with me????? They give false hope! I don't have anywhere to go if I lose my house, & who wants to take a risk on someone who has a foreclosure especially for the amount of mine, after all their extra fraudulent expenses my total they want me to pay even before our court date is over $125K!!!! Someone please help those of us who were blind & too trustful 2yrs ago & didn't know it would turn out like this..If I had known I would have never bought a house I definitely would have put up with my crazy old landlord!!!! Now I won't even be able to rent...Thanks So Much for this posting people really need to know what its really all about! It's not what you expect their out to screw us all!!! Thanks, A Royally Frustrated 1st time home buyer....

by Short Sale From Jasper, GA on January 17, 2008

Specialized Loan Servicing is unwilling to work with a military family that has been transferred across country. They have borrowed money to keep this 2nd mtg current, yet SLS insist on the full payoff of a small 2nd mtg loan. The 1st mtg is taking a considerable loss in order to work out a short sale. Not SLS. They are threatening this military family with a judgment against them if they don't pay up. With Garnishment to follow. Way to go SLS! Fly those flags, just don't ask for help.

by Anonymous From Palm Coast, FL on January 15, 2008

they are not easy to work when and when you call them and tell them that your having a hard time with the mortgage and would like to work something out they almost tripled my payments.

by Jennifer From Arlington Heights, IL on December 31, 2007

Absolute WORST!!! This company WANTS you to lose your home and will suck every penny out of you doing so. In less than a year we have sent them over $60k and they still have us in foreclosure. What a JOKE!

by american From Athens, TN on December 26, 2007

this is a company designed to help you loose you're home to corp.for there profit off of interest alone from funds tied up in escrow account being up too four times more then they will ever have to pay back to the consumer after gov makes them do the (right thing)so it pays them to rob you slowly painfully with no remorse sad they use you're funds to do it with i did not sign on for this.trust that desperate hard working taxpayers who needed to refinance for various reasons are cash cows they can,t wait to add you to the heard.

by Anonymous From San Diego, CA on December 20, 2007

The company was very flexible and really helped me in my time of need...My house was going to auction in 6 days, they performed a miracle-loan modification and got it done with a reasonable down payment (7 months in the rear). I have respect and appreciation for their help in my time of need. Not everything works in our favor, but in my case it did...

by Anonymous From Menifee, CA on December 20, 2007

Specialized loan Servicing will not work with you in anyway. They will not return your calls or work out any payment arrangements with you. I don't know how these companies can continue to get away with this and ruin peoples lives. My husband and I had great credit until SLS ruined it by false promises. They said they would help but our calls and messages went unanswered. When you try to do right and make arrangements they play with your emotions because they have you over a barrel and they feel they don't need to help you. Your not top priority. That's what we were told.

by victor From Escondido, CA on December 05, 2007

It will Increase my interest rate and refuses to refinance my loan to a respectable market rate. Also when I called them, they hung the phone so I have to called them back and they kept hanging. I don't think this is mortgage company on which you can trust.When my really state person called and asked for my loan and told them that I was in problems to make the payments and to do a arrangement they told him that I had never called them which makes them a real liar.

by Anonymous From Austin, TX on November 30, 2007

The most helpful and customer-service-oriented mortgage servicer I have ever dealt with. Kudos to them for actually caring about their customers. Not sure what all the bad comments are about, but I suspect it is from people who didn't understand what they were signing when they got a bad loan. NOT the servicers fault!

by Anonymous From Tallahassee, FL on November 29, 2007

Just like any other sub prime bank. I will be happy to see these crooks go under.

by Cindy From Middletown, NY on November 07, 2007

This company is the worst company in history of mortgage servicers, it is run by idiots who train more idiots, go figure

by Anonymous From Windermere, FL on September 24, 2007

I tried to make a payment a couple of times but there refused to accept it because i am not on the account. and then charger him with late payments. They said they would take the payment but refuse to give me any type of transaction # to show the took the payment.

by Anonymous From Conyers, GA on August 28, 2007

I have tried several times to contact Specialized Loan Servicing but since I don't have a phone, it is impossible. I have sent several letters, but to no avail. I now get charged a $500 fee each month. I have sent partial payments, they cash the checks, then they send me a check about three weeks later stating cannot accept, and charge another 500 account suspend balance.

by JORGE HERNANDEZ From Kissimmee, FL on July 14, 2007

I MUST ADMIT THEY HAVE WAITED FOR ME AND MY SITUATION, THINGS HAVE NOW CHANGED AND I HAVE A NEW JOB. THE HAVE A GREAT RATE, I DON'T MAYBE THAT IS WHY THE HAVE WAITED.

by Anonymous From Lone Tree, CO on June 27, 2007

Wonderful company!

by BILLY SCOTT From Cincinnati, OH on April 09, 2007

Increased my interest rate and refuses to refinance my loan to a respectable market rate.