Specialized Loan Servicing LLC

A horrible company over all. They misread checks. Terrible customer service (when you can get one on the phone after waiting on hold for an hour). The worst part is that I did not even signup with them. My loan company sold my loan to them.
If you have a choice, stay as far away as possible from SLS.

Worst loan servicer I have dealt with. One CSR will tell you one thing, the next will tell you something different. They are a complete joke. They have no clue what they are doing. Their phone system is built to delay you as much as possible when you have to talk to someone. Pray they don’t buy your loan.

They started slow, but have since been very professional.

I took out a mortgage in June. Before I made my first payment, these guys bought my loan.
When I had taken out my loan, I was told I could make bi-​monthly payments. When I called SLS to set that up, they said their system can’t process bi-​monthly payments. That’s a difference of tens of thousands of dollars over the life of the loan.
These people are incompetent. They need to learn how to provide basic payment options.

Where do I start. I have never been late, actually pay extra each month but when I need to speak with someone at SLS I am treated as if I am late and not paying my bills. The website message center is a joke, when I send a message for what should be a routine question the reply comes back to call them. Why even have a on-​line message center?
My December payment has shown as being received since ¹²⁄₂ yet it has not been posted yet as of ¹²⁄₁₀. You can’t get a live person to talk to you.
You don’t typically have any say on who services your loan, but if you get SLS as your servicer, watch out. Most people may not know that SLS is a subserivcer, meaning your primary servicer has outsourced the servicing to SLS to reduce expenses. They are a niche servicer who assumes their customers are deadbeats.
My suggestion, contact the CFPB whenever you have an issue with SLS. The CFPB has an easy to use complaint process on-​line and you will get action.

Awful costumer service. Unethical treatment. A horrible organization.
The short version of my story is that after years of on-​time payments, I accidentally overpaid two months in a row. A customer service rep told me the overage would be applied to the next two months’ mortgage payments. That did not happen, but I did not find out about it until after we had already been reported to the credit agencies. After being called a liar and forcing them to find the tape of the conversation, we appealed the decision, but to no avail. So ultimately, they have ruined our credit for over payment, failed to take any responsibility, and treated us poorly at every turn.

Well so far my mortgage has been with this fraudulent group for about a month and I’ve had a contentious conversations with them every time I try to pay EXTRA! Yes, they are unable to properly book additional principal payments. I’ve never heard of such a scam. I put post-​it note on my check and still it gets credited towards the following months payment effectively cancelling out my automatically debited monthly payment. And after calls to their $ 5/​hr customer service idiots noting is resolved. This scam, left unchecked by this borrower, would ultimately cost me over $ 50 000 over the life of the loan. It’s FRAUD!
And the Denver BBB? BFD, they put my complaint on their website. Super, thanks for the effort! Open your eyes jackasses, nobody willingly transacts business with these scam artists, they find themselves in their grasp when their mortgage is sold off to them. One can’t escape until either A) They sell your mortgage to another servicer or B) you refinance, and pay for it, to leave this dump. Thanks for the help BBB? What do you bring to the consumer in the end?
And the Colorado AG? Unless I misread my email, it seems they cannot be bothered either. So to that office, I offer them a big thanks… for nothing.
It seems that businesses are truly free to steal from the consumer and nobody, who is in the supposed business of monitoring such activity, gives a shit.
This company will wreck your day if you ever cross paths with them. And it seems you can’t do anything about it.

I received what I would think was the absolute worst customer service/​treatment on the 1 – 800 number. These are the RUDEST representatives I have ever dealt with. I would think that when someone asks to speak to the supervisor — you should just hand the phone over to the supervisor? No – it turned into a debacle. «they’re just going to tell you the same thing I’m telling you» — repeated over and over until he finally relented and put someone on. The unfortunate piece is that all credibility was lost — I don’t even know if the person put on was indeed a supervisor. This company can go to hell. Worst. Service. Ever.
The best part of all this — the property in question is going to rot to the ground. There is literally nobody alive that is responsible for it now — I was doing what I thought was a «good» deed to try to get things moving along on it because I have no legal obligation to do anything. Beyond irritated with these jackoffs.

My review might be interesting, but in the end you will want to know. WHAT CAN I DO? WHO DO I COMPLAIN TO??? The regulatory agency that handles complaints in California, where I live, for loan servicing companies is called, «Department of Business Oversight». You can file your complaint online at
. I have also filed a complaint with Consumer Financial Protection Bureau.
This is a Federal oversight agency. They have a very simple online complaint filing system with a smart way of tracking your complaint. Don’t waste your time with employees of SLS; they do not know anything about loan servicing. While they will get paid to do nothing… you will end up wasting a lot of time and not get any results. I refuse to waste anymore time and now will let the State of California and Feds deal with them. DOCUMENT EVERYTHING! Let them know you are recording the phone conversations (it is the law) and write down every ID number and person you spoke with, and how many times. *****************Okay, so here is my review of this horrible company. I have had an Home Equity Line of Credit since 2005. I did not have one problem with the servicing of the loan when done by Etrade Financial and their servicing company. Since SLS took over servicing the loan in February of this year, I have had nothing but trouble all because the people who work here are complete Idiots. Topping the list is a «supervisor» named Matthew ID Number 4 773. The «Non» supervisor workers are 10 times worse, and that is the best thing I can think to say about Matthew. he is not AS horrible as some of the others who work there. Matthew, who is supposed to be a supervisor… doesn’t have the basic understanding of the lending laws and regulations. Federal or State. He is clueless about how to resolve or even understand basic problems and whatever they are paying him is way too much money; he does NOTHING. The structure of this company is redundant and chaotic. There are many clerks and supervisors all unaware of what anyone else has done on the file even though supposedly they are documenting things. For example, today I received a call from «Matthew» who gave me a number to call back, which I did.(If you are trying to reach him, his direct number is 720−348−8621.he leaves messages to call a general number to reach him. Even though he DOES have a direct line. he will not give it out to anyone) When a customer calls the number provided to reach someone regarding their loan/​problem, the customer is forced to enter either their loan number or their social. Customers are not given an extension of the person they are supposed to call back and are not offered any other option other than the account number or social security number. Then… a message comes on «Our records indicate that your loan is assigned to another department», which then forces you to be bounced back to the black hole of «Customer Assistance». After being on hold a very long time, a clerk who answered then told me, «Matthew is in Executive Services. let me transfer you.» and the WHOLE mess starts again! The «wonderful» agent who got paid to do THIS today was a woman named «Carolina» ID #19 265. Unbelievable BAD customer service.20 minutes and I still am unable to speak to someone who has knowledge about my loan. I can’t wait until a class action lawsuit is filed against this company and I’m sure it won’t be long. They do not know how to board a loan, process payments or keep track of communication in-​house or with people outside of their company. If I worked at this company I would be embarassed to tell anyone; it has a horrible reputation and must employ only people who cannot get a job with a reputable company. So… bottom line… file a complaint with an agency that regulates them… at times you will think, «Oh.I think it might FINALLY be solved».and it will NOT be solved at all. Oh, and when you do reach the regulatory agency, remarkably easy to contact, with real agents who are smart, quick with answers… they know EXACTLY who this company is… it sounds like SLS (Specialized Loan Servicing) is a company that receives many, many complaints.

Avoid this company if it all possible. Seriously, avoid at all costs. Too many details to list here. Simply avoid … and help spread the word to others to stay away.

I called their toll free number in CO. The reps are not customer service oriented at all. I’ve also emailed them. They are rude and cannot answer basic questions. Thank God I won’t be dealing with them anymore!

Negative stars deserved here! Chase held the mortgage on my home since I purchased it in 2006– amazing service! SLS purchased my loan 18 months ago, and it has been a nightmare ever since. They have lossed a payment, which took me better then 6 months of sending them bank statements to verify. They have to date, not notified me of county tax increases, of which in 12 months there has been 2– all of which has effected my monthly payments by $ 300 a month (not a fun surprise to find out your house payment is now that much more!). Customer service is rude, and they do not care about keeping you in your home, when that should be their primary objective. Stay positive, help the customer. Escrow department was not aware that I did not have the new information of PI payments plus by taxes and insurance– she literally said, OH. As consumers we should have more choices and rights then this. Very frustrating and stressful to say the least. STAY away from SLS for a loan!

If I could give zero or negative stars, I would. Based on the conversation with the fourth person I talked to today during my 33 minute call, I think I was talking to a call center in Arizona. I just refinanced my loan to get away from the wretched Bank of America and ended up here, in hell. I got my first statement saying that the escrow account (which I did not want-​I still don’t know who the genius is who ignored what I wanted and set that up) and it said that the escrow account covered my property taxes and insurance. I called to see when the insurance would get paid. «we are not collecting money for your insurance» um, the statement says you are, and the amount is WAY more than my taxes. transfer. «that part of my my system is down» transfer to the «hazard insurance» department. nope we are not paying your insurance. why does the statement, that your company sent me, say that is does cover insurance? do you have wind insurance? excuse me? you can add wind insurance. we don’t have tornadoes or hurricanes in California. well you can add it anytime. huh? can you answer my question. customer care can help you. i’ll transfer you. THAT’S WHERE I STARTED. Okay will it could be a 1 or 2 minute hold. do you want the number? no…
now we are doing an escrow analysis. actually he submitted 2 requests because apparently one analysis is not enough for this company to figure out this one really simple question.
I am worried and really sad.
My advice is this: do not trust them to do anything. Pay attention to every detail and manage this as closely as you do anything in your life.

Negative stars deserved here– The customer service staff as awful and they fraudulently report payments late even when the acknowledge receipt was before any delinquency. Someone needs to sue them big time– profits over integrity-​they need to be schooled in what is legal and acceptable;e practices.