Specialized Loan Servicing (SLS)Reviews of sls.net

This co. SUCKS! They got expensive home insurance on our property after we gave them proof we already had it!! Then they took over our taxes and put both in escrow and charged us double!! After 6 months of doing this, they say they sent us letters in the mail we never got. They reported to the Credit Bureau and ruined our credit!! I send messages on their website yet they ignore us. Now they are foreclosing our property. We are both disabled and unable to work due to Covid. I am on oxygen and in a wheelchair. This is how they treat us. 18 years paying on this home. So sad.

This Company is so very hard to deal with or get any type of real person communication, they don’t pay your insurance on time, lie about when you are covered and when you try to purchase insurance to replace their outrageously high priced insurance it takes forever meaning several weeks to even get a reply to your request. Yes when you get a customer service rep about some things, mostly payment questions,they may help you but the insurance department is awful. I’ve been literally screwed by this company, they work toward you losing your property, with those jacked up insurance payments added, not following what other mortgage company stated they would do when turned over to this third party. They are another Wells Fargo and the government should make them pay dearly. I’m traveling a long dirty road with this company, only hoping it will get better and no worse.

If I could give this mortgage company a NEGATIVE 10, I would do so. This company is horrible, do not use them. I was given a quote to pay off my home and the money shows as received on the portal under my account but because I did a wire transfer from my bank instead of a "certified" wire transfer, I need to pay them an additional $338. This is not what I was TOLD by the multiple agents that I spoke to in the past few days. They are GOUGERS and just trying to take my money and NOT transfer the title to my home to me, they are delaying this purposefully!

THIS IS A FRAUDULENT BANK COMPANY. THEY ARE NOT LOCATED IN THE US. THEY DO NOT ASSIST ANYONE IN NYS, THAT INCLUDES REFINANCING, HARDSHIPS, AND IF YOU DO HAVE A FORBEARANCE DURING COVID, YOU WILL NEVER BE ABLE TO PAY TOWARDS PRINCIPAL FOR THE LIFE OF THE LOAN. YOU WOULD HAVE TO SELL YOUR HOUSE TO GET OUT OF THEIR LOAN. I CAN'T STRESS ENOUGH HOW THIS IS AFFECTED ME MENTALLY AND MY FAMILY AND MY FINANCIAL SITUATION. BEWARE. **** ALSO, I TRULY BELIEVE THAT ANYONE THAT GIVES FIVE STARS IS SOMEONE THAT'S AFFILIATED WITH THEM OR DOES BROKER RELATIONSHIPS WITH THEM. NO ONE IN THE RIGHT MIND WOULD GIVE THEM FIVE STARS. THEY DON'T HAVE CUSTOMER SERVICE. THEY DON'T HAVE AN EMAIL ADDRESS. THEY SUPPORT MORTGAGES IN THE USA AND THEY ARE LOCATED IN ANOTHER COUNTRY WHETHER IT'S CANADA OR AUSTRALIA THEY ARE NOT A USA COMPANY.

Fraudulent Company, they are stealing from homeowners. SLS uses PMI as a means by which to steal funds from homeowners, they enforce illegal requirements for PMI removal that violate federal law. Your PMI by law comes off at 78%, do not let them lie to you.

I had flood insurance secured and in effect, and when the loan was sold to SLS, they somehow "could not reach" my flood insurance carrier and therefore....didn't pay it. I don't know this until my payment shot up $400 a month, all to find out that they now put a lender-issued policy in effect that was $3,700 a year instead of the $995 I was paying. NO FLOOD POLICY WAS NEEDED, I HAD ONE and thanks to their incompetence, my actual flood policy was canceled. I THEN got a new policy issued and my insurer put IN WRITING that they needed to pay by a certain date, and they failed to do so. NOW they want to charge me an additional $366 for the late payment fee thanks to that blunder of not paying timely. In essence, I am paying almost $2,000 total for this mistake on their part, and now I have been on hold for 2 hours waiting to talk to someone. Every time I use the chat, they spit out the same message to call 1-800-441-4145 (yes, memorized now, as every time, day after day, I go unanswered). I have called every day and every time I am on hold for up to two hours before the call drops, never to reach anyone. I have also requested through chat on their system to remove my flood insurance from my escrow account, and all I receive for any response to anything is to call that number that no one answers. I am highly suspicious of this company's intentions at this point. I have filed a complaint with the Better Business Bureau and plan to seek legal recourse if this does not get resolved this week.

Very ineffective customer service, company and corporate practices. It has taken years for them to update my account Information when I took over from the original borrower. They don’t listen, acknowledge documents, or have regard for human beings. I can’t wait to sell this loan to another company. Horrible. Avoid doing business with or engaging in business with SLS at any cost.

All I can say is if your loan has been recently bought by Specialized Loan servicing, try to get out and away from them as soon as possible. This company based off my personal experience has been the worst loan servicing company I have ever worked with. They close down their phone hours. They’re not available for you and then when they are available they don’t have information that you need. When you request documents the documents they send you are mailed to you in a format that they can not even explain. That is if you ever receive the documents. Specialized misappropriate $1200 from my account when it transferred over from Wells Fargo and they have yet to explain where my $1200 where it or what they coded it to. They forced me to sign a modification agreement that only pays $100 towards the principal balance of my loan. I will never pay this off even if I made the scheduled payments for the next 30 years. Not to mention the amount of interest they are ripping me off for. It’s like an interest only loan they basically forced me to sign it. Specialized Loan servicing does not care about their customers or accounts. The Majority of people that I have talked to at specialized never even owned a home let alone know anything about payments, escrow fees, insurance, taxes, modification, agreements, refinances, interest rates, late fees, or anything else. This company supposedly has an office in Colorado, so they say. I do really do not think they have a physical office that you can actually go sit down and talk to somebody about your account. When you’re speaking about your mortgage it’s probably is one of the largest investments you have, you want the person to be personable and listen when you talk and help you. Specialized Loan servicing is not the company for you.