Specialized Loan Servicing [SLS]
Reviews and Complaints

This is a continuation on #[protected], sls have not complied with regulation since 01/20/2016 I am waiting for any letter about modification or any new information with notice of default the les zieve office file on county records send letters to les zieve office and to sls with copy of payments to the account and request for sls llc to verify the allege debt countrywide, bank of america, sls llc, bank of new york mello have no stand to request a payment based on assumption, the only document they have to collect is a e-copy and every of this entities send me one copy that is different from the other under art 9 the contract is void. This corporations want to foreclosure because bank of new york is been suit for the investors to repurchase all the certificate from securities for breaching of representation and warranties (walnut llc v bnym, mbia insurance corp v countrywide). This trust was created almost a year later after the cut off day on prospectus agreement.

Sls is the worse servicing company I have encountered. Don't expect to obtain any answers or get anything resolved because you will not ever get to speak to a supervisor or any individual with authority. Their tactic is to foreclose and to hold money for their convenience. They are rude, unprofessional, and do not return phone calls.
Sls needs to be shut down!

Hello, I have a second on my house for only 50,000 dollars. E trade sold my second to sls. They instantly put my account into collections, even though my payments were all on time. So now I am trying to work with them, yet they keep saying I need one more thing. Each rep tells me a different story. They will not allow me to talk to a supervisor. Now my credit is bad after I had a perfect score. I need help. I have lost weight and can't sleep. Please help me. Lynn

Friday, july 19, 2013
This is a letter I wrote to our california congressman ami bera requesting investigation of sls because of their treatment of my sister's request for loan modification:
Please help save home from foreclosure
Thank you for looking into my sister aurora alcala’s request to save her home from foreclosure thru loan modification. She bought her home in sacramento in 1995. She responsibly made payments on time for the better part of the past 18 years, but needed to modify her upside down adjustable loan and reduce the principal. She had an excellent credit score when, in 2009, she applied to the bank of america for a loan modification.

Since that time, she was asked to submit her application numerous times, with no clear guidance on her prospects, her status, or her options. There was never a single point of contact with anyone familiar with her situation. Though she was given the standard referral to hud counselors, they were unable to help has been confusing, stressful, and discouraging. She was denied by keep-your-home-california and other programs without really knowing why. While awaiting loan modification, she used up her savings and credit cards, and was forced to finally file for bankruptcy in 2011.

Last summer, without warning from the bank of america, her loan was abruptly transferred to a company called specialized loan servicing llc. Dealing with them became even more of a nightmare. She was supposedly assigned a regular contact person who was listed in correspondence, but to this date, he has never been available to speak to her. Some of their phone reps were also very rude, belittling her for not being able to make her payments.

She is not the only homeowner treated offensively by this company. What agency or agencies regulate this particular company? Can you look into this? Sls seems to be an unofficial, but convenient subsidiary for the bank of america to dump unwanted or difficult cases. Many consumers have had no official recourse to direct their complaints about sls. A website called consumer complaints board has been the only place where clients have been able to voice their grievances. Please take the time to read the many horrific experiences of those who have had to deal with sls, and consider what needs to be done on behalf of suffering homeowners.
Http://www.Complaintsboard.com/?Search=sls

This appeal then is not only to help aurora stay in her home, but to inform the congressman and any and all relevant agencies that the banks and mortgage servicers are still playing games with peoples’ lives, and not making a concerted effort to help homeowners stay in their homes.
At this point, we can only rely upon our elected officials to stand up for us in dealing with companies that are not able or willing to help us through the complicated and confusing processes that will help us maintain our homes.

Yet…it may be that by your investigation of this situation, sls could decide to be on their best behavior.

This is what actually happened to me. I received a permanent loan modification through bank of america this year, but not without going through the grueling process my sister is still experiencing. Congressman jerry mcnerney’s office looked into my situation, giving my case an attention it wouldn’t have otherwise received.

I believe that last year’s efforts by california attorney general kamala harris have also made a huge difference in my ability to obtain the modification. Sls, located in colorado, may not be following through on the protocols designed by harris. They may, in fact, be operating under the radar of recent changes as to how banks and servicers treat homeowners, simply paying lip service to the mandates, but not actually honoring the processes that will benefit homeowners.

Aurora is a 61 year old senior on a fixed income, someone who worked, saved, and paid her bills all her life, but became a victim of the mortgage meltdown. Her medical retirement & disability income are her only means of support. Her arm has, for the moment, adjusted down from $1638 to $1240 per month. Although it would be tight, this $400 difference is a significant drop which she is willing to start paying while still working to get a fixed rate mortgage at a low interest rate and a reduction in principal. We would like to see sls accept this as a good faith starting point.

Her principal balance has been increasing as she has patiently and anxiously waited for lenders to act on her application for a modification or restructure. She was recently denied a modification by sls because they said her pmi would not approve insuring due to the high principal amount. But her principal accruals have been mainly a result of this lengthy process which has kept her in limbo. She asked bank of america last year if she could start making payments again, and they told her & ldquo;no. & rdquo;

There are clear inequities between the power of the banks and the rights of the homeowners during these crisis years of the housing market. Will somebody please level the playing ground?

Aurora’s medical condition has affected her ability to comprehend this complex situation with her loan. She needs advocacy, as do most seniors and people with illness. It would be devastating for her to have to move, a monumental effort which would be unlikely to place her in an affordable living situation. She desperately needs help; and you are her last course of hope.

So we thank you for your intercession on her behalf, which we also hope will be of benefit to others in the same situation. The housing problem is still a national concern, and we pray our leaders can help us out individually and collectively.

After months of effort to seek a) corrected address b) corrected account statements. We've been at our new address more than 14 months and have only recently started received billings and communication from sls at the new address. Have yet to receive corrected balance statements. Their website will not allow payments. Unable to remedy, even having provided double payments, fees, and numerous faxes, calls, and letters with payments. Help!

I worked as a telemarketer at this company for three months. My supervisor was an attorney and cpa, but the three women owners were always nagging and haggling me my supervisor in between their twenty cigarrette breaks every 15 minutes.
It was the most disgusting places to work - not only were they always smoking cigarrettes but drinking beer and getting drunk every other day in the office.
Their main attorney lindsay tilley suarez using foul language bashing christians, sienna mesple one of the founders of omni tax resolution who had one of the cheapest weddings in all wedding history and stephanie kelly whose son was arrested for major drug dealing. You need to avoid this company. They are an omni based company.

I worked for specialized loan servicing as a mail room temporary worker for about two (2) months. The company uses temporary agencies to essentially try out workers. It dangles the potential of a permanent position through a temp-to-hire arrangement. I have a ba in management, but took the position out of necessity and hope for advancement. The lack or organization was disturbing; my supervisor did not know apparently that I was being added to his staff and as a result I sat on my hands for my first two (2) weeks requesting work and waiting for odd jobs to be assigned to me. Human resources was discouragingly slow about my on-boarding but I was still expected to feel like part of the company despite signs and issues that made me feel like an outsider.
I witnessed gross mismanagement during my time there. The company, which claims to have a "better way" and to "do things differently" is no less predatory and seamy than any of its competitors. The company does not invest in quality equipment capable of accomplishing the tasks at hand. An example is the papervision program and desktop scanners, which are used in conjunction to scan all documents received from borrowers. Papervision has many bugs, management and team leads do not know how to use it (thus cannot instruct employees), and many documents are just lost as a result. These documents can be critical to somebody's modification or to avoid foreclosure. The company's computer system in general experiences regular glitches and the it department is quite slow at getting everything back on line.
I attempted to explain my observations constructively and humbly offer suggestions for improving the processes. I also participated in company functions and tried to mingle with my colleagues. Many employees are rather unprofessional; they discuss topics that should be left out of the workplace and regularly use crude language. I never complained about this. I arrived for work on monday, december 24, 2012, and discovered that my badge did not function at the door. I was about to leave when a security guard approached, told me that the company was closed for the holiday, and that I was no longer employed there. Management apparently decided not to inform me that I did not need to show up on christmas eve morning so that security would dismiss me and they could avoid any potential confrontation. Merry christmas 2012.

I have been battling with sls for about 7 months. They just put my house into foreclosure after 1 payment bounced. They claim we were 4 months behind allready. However I have proof of all the payments I have made. Sls just conveniently forgot to record 3 of my payments. So according to them, it was time to foreclose. They told me that they would not except another payment unless it was the amount of $2600.00. So I got all my bank statements and proof that I needed, but now the amount that I owe is around 5, 000.00 according to them. I sent them all the proof to the dispute dept. They say it will take around 30 days, well I don't have 30 days left before they sell my house. I know they are wrong, and I don't know how to stop them. My house payments are suppossed to be 583.87, but all my payments vary from 640.00 to 813.00 mostly in the 700.00 range. I have a fixed rate loan.

This my new loan acconting and they sent me 2 diffrent statement. This situiation is beging to get me really mad. I more do so that I called and then they said that payment went down to a decent pay. I will shuw the4 evidence

They keep telling us that they were going to help us to do a modification and after a lot of phone calls: they lost our papers all the time. Finally they told us we don't qualify because the property value was above of the obama program. They wait until the last minute when I ran out of all my money: bank savings, 401k, life insurance.. Extra jobs etc.. To tell us that? Then they watned us to pay 3 months in advance? If they had done that few months ago.. We could have have still some money to pay that money. They are liers! Specially that terry paid 8 dlls per hour * womand!

This company has no standard operating procedures. (and if they actually do, the employees or independent contractors are not aware of them or have the freedom to totally disregard them.)

Sls is the 2nd lienholder on a short sale deal. The 1st is bank of america. Would you believe I received an approval from bank of america two months ahead of sls?

I've had to deal with approximately 20 different customer service reps. With each one I almost have to start from the beginning. These reps are nice enough on the phone but are not empowered to accomplish any task except answering the telephone.

The management and/or supervisory level is illusive, and maybe there are no managers or supervisors. I'm beginning to think there's some guy in a garage with a computer who is running this company.