Specialized Loan Servicing

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.