Mortgage -- Trouble during payment process -- Complaint #5535034
Complaint Overview
Complaint ID: 5535034
Company: Specialized Loan Servicing Holdings LLC
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Trouble during payment process
State: New Jersey
ZIP Code: 078XX
Date Received: 2022-05-03T12:00:00-05:00
Date Sent to Company: 2022-05-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Was approved for a XXXX XXXX second mortgage by XXXX XXXX XXXX XXXX. Account # XXXX. Case mgmt # XXXX. XXXX XXXX XXXX sold servicing to Specialized loan Servicing, account # XXXX. XXXX. Was to receive incentive for payment for 5years at the end of sixth year. Was not in note, however my first mortgage did not include in note either. Did some research and found that after XX/XX/2012 per HUD, lenders were to notify of incentives separately by mail. Never received a notice. They are also supposed to send notice of incentive payment due 1 month prior to the sixth year anniversary. This did not occur either. When loan was transferred, I called Bank XXXX XXXX and the assured me the XXXX qualified for incentive and that new lender would be aware. Called Specialized loan servicing and they concurred. My XXXX anniversary date plus one month was this past XXXX, was told perhaps the next month. Called in XXXX as there was no principal incentive applied. Was told there was no information on file for them to do so. They wanted a document to show proof. Called XXXX XXXX XXXX case management department and they had nothing on file except for the note. Their number is listed above. Did more research and found that the loan servicing department would handle incentives and reporting. Can you please assist me in getting this resolved?
Frequently Asked Questions
What is Complaint #5535034 about?
Complaint #5535034 was filed against Specialized Loan Servicing Holdings LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-05-03T12:00:00-05:00.
How did Specialized Loan Servicing Holdings LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Specialized Loan Servicing Holdings LLC?
Yes, visit the Specialized Loan Servicing Holdings LLC company profile at readthecomplaint.com/company/specialized-loan-servicing-holdings-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.