Specialized Loan Servicing is corrupt, withholding refund of my escrow account though the loan financed was paid off in November 2018.
I’ve made regular attempts to seek the $4,000 refund of escrow unsuccessfully – service agents apologize sincerely & state they have no idea why the treasurer’s office is delaying cutting my check.
Only once MY FUNDS are forwarded to me will I consider changing my opinion of this disreputable company.
SLS is not running a legit business. They are not aggressive towards customer satisfaction and complaint grievance redressal, Hence 17 consumer[s] submitted negative ratings, and only a few left positive feedback.
Where is SLS located?
SLS is headquarted at 8742 Lucent Blvd Littleton, CO 80129. You can contact SLS by dialing (800) 268-9956 or visit their website sls.net.
How much monetary loss is incurred by SLS’s customers?
According to SLS’s customers, a monetary loss of US $698 has been reported. The severity of entire incident reports is medium.
After Hurricane Irma we were “granted” an extension for 2 months only to get a bill two months later that said we were overdue on our mortgage. We even cancelled our auto pay at the advice of their customer service rep.
We just called customer service and they informed us that our extension was denied, but we never received a letter, a phone call or any other form of communication informing us of the situation, which is usually pretty important considering a mortgage is typically what most households plan their finances around.
The customer service and supervisory department offered numerous apologies, but told us that there is nothing that they can do. We were told that our only option was a forbearance which is what I’ve already done unknowingly by skipping my mortgage payment for two months on my own.
We will definitely be promptly refinancing through another company based on the lack of customer service that we received here. I sure miss Quicken Loans right now..
Like most of the reviewers I would give SLS 0 stars if that was possible. Their support staff makes promises they do not keep. Their IT department probably does not know what a computer is as they can not fix simple problems.
If there was anyway to have someone else service my mortgage short of refinancing, I would do it ASAP. Stay as far away from this company as you can if possible.
SLS made 23 transaction to my account between December and January and increased my loan balance over $1,000. I have been trying to get answer and the account straighten out for over 4 months now. I have spent over 10 hours on the phone with SLS and still waiting for them to straighten out my account.
They will not let me talk with someone directly to get it straighten, but have a person who needs to talk with 2 other departments who will give him an answer and he will let me know what they say.
They say payments have been reversed on my account by HAMP, and when I called the number SLS gave me for HAMP they stated they do not reverse payments and to contact my lender.
When I talked with SLS they say they cannot give me the number or person they talked with at HAMP, but the number they gave me is the number I need to call. I have never had this problem with any company and cannot get ahold of someone at the company who can help me.
I’m just waiting for an answer so check your statement monthly and make sure they are posting the payments correctly and hope you can get it straighten out in a timely manner.
WORST Loan servicer ever! My loan was sold to them by ASC in September, and it has been downhill ever since. They are rude when I call to speak with a customer service rep. Everything is about debt collection…not about the customer. Difficult to work with them
This is the toilet bowl of mortgage companies. Read the reviews, except the positive one which is complete bullshit. If your mortgage was bought by sls get the hell out, even if it means going to a higher rate with someone else.
I was blessed from the heavens and my house was just sold. But I feel for anyone that has to deal with them. My heart goes out to you. Be proactive.
If you’ve seen that SLS has bought your mortgage, the only fair comparison I can think of is going to the doctor and finding out you have a terminal illness.
They make it hard to pay will not answer their phone, do not respond to certified letters, website crashes and they direct you pay by Western Union for a $10 fee.
Who the hell uses WU other than scammers, They have had my paper 2 months no statements no info took forever to find out my account number. October and November payments cleared my bank but not posted on website.
They sent letters of foresclosure for the December Payment Due, yes it was late trying to get statements and info on my account. Sent Certified letter 12/26 with a cashiers check.
I am willing to bet they will refuse it ( send it back) and claim I have to pay January also one of the oldest scams in the books to add fees. By Texas law you can be late for 60 days of the transfer of your mortgage and the servicer can not add late fees.
This company is a sham, just search online complaints and law suits. They bought my paper 2 months ago and already I’m having serious issues. So bad that I filed 3 complaints with my AG office and am speaking with some attorneys now.
Depositing personel, Customer Service, and Ability to correct the problem within 2 weeks ALL GET a 0% from me. They bought our mortgage 4 years ago, and I have had trouble with them properly depositing my payment so many times (bi monthly on average), I have lost count!
I always make sure the higher payment is made ahead of the date. I want to refinance the home with a different lender to get out of this company, but their report to the credit bureaus is causing issues with wanting to do that.
It was suggested by a co-worker to make a formal complaint about them, seeing sometimes that is what it takes to get them to listen.
So I choose to send them a check. The have my credit report messed up for a 30 day + missed payment. My wife and I have called and each time we speak to a different individual, and the month the supposed missed payment changes. It’s never the same month.
They will not even stay consistent on this! So multiple times, I have emailed/faxed/mailed the bank statement they want, we never hear back, have to call them, and the dates/personnel change and we have to start over.
I sold my house in April and paid off taxes and insurance. There is a remaining balance in my escrow account of $7258 which SLS continues to lie about. Every time I call they say “the check is in the mail.” I am getting really sick of their lies. It should not take four months to return my remaining escrow funds. This should be illegal.
Wow, this has been a horrible experience. I never write negative review, but people need to be warned if they are going to have to work with SLS. We refinanced into a HELOC and were passed off to SLS. Not a big deal we thought. Wrong.
The only thing this company is capable of doing is taking your monthly payment. The one time we needed something outside paying our bill, it was a nightmare. No one can do anything quickly and if you are in a pinch you will be told and retold about their internal processes.
Absolutely no urgency on their part. For someone who has perfect credit and always takes care of things on time, I have never experienced anything so bad. Do not work with this company and if you are a bank think about your customers well being before you pass them onto a an agency like this. Unbelievable.
SLS is in the stone age regarding technology. Their phone system does not have extension numbers to reach certain employees and therefore you’ll never talk to the same representative twice. If you ask three different representatives the same question, we’ll get three different answers. The left hand doesn’t know what the right hand is doing. If you are applying for a loan modiification, you’ll have to resubmit your documents quite often because somehow this company losses them.
The hold time on the phone can be very long. If you are being transferred to another department, the chances of being disconnected are high and therefore you’ll have to call back and repeat your situation all over again. Dealing with this company is a nightmare and that is an understatement.
They have screwed up my payments and have charged me extra the past 2 months. Have called about 5 or 6 times the past few months and keep putting in work orders but nothings gets done.
They told me today that their “tax experts” were unable to “locate” my escrow account even though I can pull it up myself online. This is getting ridiculous. I will be filing a complaint on Monday.
I tried 3 times to set up automatic payment on sls website and it takes forever to load and then freezes. For a mortgage servicer to allow this problem to linger is completely unprofessional.
I sure miss Quicken Loans right now..
After Hurricane Irma we were “granted” an extension for 2 months only to get a bill two months later that said we were overdue on our mortgage. We even cancelled our auto pay at the advice of their customer service rep.
We just called customer service and they informed us that our extension was denied, but we never received a letter, a phone call or any other form of communication informing us of the situation, which is usually pretty important considering a mortgage is typically what most households plan their finances around.
The customer service and supervisory department offered numerous apologies, but told us that there is nothing that they can do. We were told that our only option was a forbearance which is what I’ve already done unknowingly by skipping my mortgage payment for two months on my own.
We will definitely be promptly refinancing through another company based on the lack of customer service that we received here. I sure miss Quicken Loans right now..
Stay as far away from this company as you can if possible.
Like most of the reviewers I would give SLS 0 stars if that was possible. Their support staff makes promises they do not keep. Their IT department probably does not know what a computer is as they can not fix simple problems.
If there was anyway to have someone else service my mortgage short of refinancing, I would do it ASAP. Stay as far away from this company as you can if possible.
DO not go here
SLS made 23 transaction to my account between December and January and increased my loan balance over $1,000. I have been trying to get answer and the account straighten out for over 4 months now. I have spent over 10 hours on the phone with SLS and still waiting for them to straighten out my account.
They will not let me talk with someone directly to get it straighten, but have a person who needs to talk with 2 other departments who will give him an answer and he will let me know what they say.
They say payments have been reversed on my account by HAMP, and when I called the number SLS gave me for HAMP they stated they do not reverse payments and to contact my lender.
When I talked with SLS they say they cannot give me the number or person they talked with at HAMP, but the number they gave me is the number I need to call. I have never had this problem with any company and cannot get ahold of someone at the company who can help me.
I’m just waiting for an answer so check your statement monthly and make sure they are posting the payments correctly and hope you can get it straighten out in a timely manner.
WORST Loan servicer ever!
WORST Loan servicer ever! My loan was sold to them by ASC in September, and it has been downhill ever since. They are rude when I call to speak with a customer service rep. Everything is about debt collection…not about the customer. Difficult to work with them
This is the toilet bowl of mortgage companies.
This is the toilet bowl of mortgage companies. Read the reviews, except the positive one which is complete bullshit. If your mortgage was bought by sls get the hell out, even if it means going to a higher rate with someone else.
I was blessed from the heavens and my house was just sold. But I feel for anyone that has to deal with them. My heart goes out to you. Be proactive.
If you’ve seen that SLS has bought your mortgage, the only fair comparison I can think of is going to the doctor and finding out you have a terminal illness.
Bad Service.
They make it hard to pay will not answer their phone, do not respond to certified letters, website crashes and they direct you pay by Western Union for a $10 fee.
Who the hell uses WU other than scammers, They have had my paper 2 months no statements no info took forever to find out my account number. October and November payments cleared my bank but not posted on website.
They sent letters of foresclosure for the December Payment Due, yes it was late trying to get statements and info on my account. Sent Certified letter 12/26 with a cashiers check.
I am willing to bet they will refuse it ( send it back) and claim I have to pay January also one of the oldest scams in the books to add fees. By Texas law you can be late for 60 days of the transfer of your mortgage and the servicer can not add late fees.
This company is a scammer
This company is a sham, just search online complaints and law suits. They bought my paper 2 months ago and already I’m having serious issues. So bad that I filed 3 complaints with my AG office and am speaking with some attorneys now.
I have lost count!
Depositing personel, Customer Service, and Ability to correct the problem within 2 weeks ALL GET a 0% from me. They bought our mortgage 4 years ago, and I have had trouble with them properly depositing my payment so many times (bi monthly on average), I have lost count!
Unbelievable
I always make sure the higher payment is made ahead of the date. I want to refinance the home with a different lender to get out of this company, but their report to the credit bureaus is causing issues with wanting to do that.
It was suggested by a co-worker to make a formal complaint about them, seeing sometimes that is what it takes to get them to listen.
Never Again
So I choose to send them a check. The have my credit report messed up for a 30 day + missed payment. My wife and I have called and each time we speak to a different individual, and the month the supposed missed payment changes. It’s never the same month.
They will not even stay consistent on this! So multiple times, I have emailed/faxed/mailed the bank statement they want, we never hear back, have to call them, and the dates/personnel change and we have to start over.
This should be illegal.
I sold my house in April and paid off taxes and insurance. There is a remaining balance in my escrow account of $7258 which SLS continues to lie about. Every time I call they say “the check is in the mail.” I am getting really sick of their lies. It should not take four months to return my remaining escrow funds. This should be illegal.
Wow, this has been a horrible experience.
Wow, this has been a horrible experience. I never write negative review, but people need to be warned if they are going to have to work with SLS. We refinanced into a HELOC and were passed off to SLS. Not a big deal we thought. Wrong.
The only thing this company is capable of doing is taking your monthly payment. The one time we needed something outside paying our bill, it was a nightmare. No one can do anything quickly and if you are in a pinch you will be told and retold about their internal processes.
Absolutely no urgency on their part. For someone who has perfect credit and always takes care of things on time, I have never experienced anything so bad. Do not work with this company and if you are a bank think about your customers well being before you pass them onto a an agency like this. Unbelievable.
Dealing with this company is a nightmare and that is an understatement.
SLS is in the stone age regarding technology. Their phone system does not have extension numbers to reach certain employees and therefore you’ll never talk to the same representative twice. If you ask three different representatives the same question, we’ll get three different answers. The left hand doesn’t know what the right hand is doing. If you are applying for a loan modiification, you’ll have to resubmit your documents quite often because somehow this company losses them.
The hold time on the phone can be very long. If you are being transferred to another department, the chances of being disconnected are high and therefore you’ll have to call back and repeat your situation all over again. Dealing with this company is a nightmare and that is an understatement.
I will be filing a complaint on Monday.
They have screwed up my payments and have charged me extra the past 2 months. Have called about 5 or 6 times the past few months and keep putting in work orders but nothings gets done.
They told me today that their “tax experts” were unable to “locate” my escrow account even though I can pull it up myself online. This is getting ridiculous. I will be filing a complaint on Monday.
For a mortgage servicer to allow this problem to linger is completely unprofessional.
I tried 3 times to set up automatic payment on sls website and it takes forever to load and then freezes. For a mortgage servicer to allow this problem to linger is completely unprofessional.