Specialized Loan Servicing – SLS Collection Complaints?

We Stop Unwanted Calls and Debt Collector Harassment.

Specialized Loan Servicing, LLC or SLS is a residential mortgage servicing corporation based in Colorado which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.

What is Specialized Loan Servicing?

SLS’ headquarters is located in Highland Ranch, CO. They also have offices in Arizona and a payment processing center in Atlanta, GA. The BBB indicates that SLS was founded locally in 2003, and incorporated in Delaware in the same year. The BBB opened its file on SLS four months after SLS’ initial founding. The main web address for this company is www.sls.net, but the BBB lists a secondary site at www.samreo.net. Buzzfile indicates a founding date of 2011, an estimated annual revenue of $183.4 million, and an estimated staff of 1,258 people at the headquarters location.

SLS is not a collection agency, but they sometimes operate in a similar capacity. SLS describes itself as an asset management company and works exclusively with real estate loans, many of which are delinquent; thus, like collection agencies, SLS’ processes delinquent debt, but their efforts are focused on home foreclosures rather than credit card balances.

Normally, approving a home loan requires an applicant to appear at a lending institution such as a bank or savings and loan. After lending managers determine the borrower’s ability to successfully assume the loan, the bank exercises its professional judgement to either approve or deny the loan. The new homeowner typically pays off the loan over a course of thirty years. The bank’s interest in providing this service is realized in interest income and the potential for refinancing based on property improvements and appreciation.

As a third-party servicer of mortgage loans, SLS does not issue home loans. Instead, they work with financial institutions after loan signing to purchase home mortgages, often without the knowledge or consent of the borrower. SLS claims the benefit of this service is to provide more effective and profitable loan servicing. SLS also operates a group of affiliated loan service organizations, including Altavera Mortgage Services, Capital Markets Cooperative, Computershare Loan Services, and Mortgage Solutions.

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Complaints against Specialized Loan Servicing LLC – SLS

The Better Business Bureau lists 359 complaints closed against SLS in the past three years, with 126 in the past 12 months. Only 38 of these complaints have been resolved to the satisfaction of the complainant. Many of the complainants indicate that their mortgages were sold without their consent, and that SLS institutes new methods of distributing mortgage payments that result in increased interest rates, missed payments, late fees, and reports of delinquencies on their credit reports. The 63 negative reviews allege openly abusive customer service and fraudulent business practices. Justia lists at least 50 cases of civil litigation naming SLS as a defendant.

SLS Contact Information

Specialized Loan Servicing, LLC
8742 Lucent Blvd., Ste. 300
Highlands Ranch, CO 80129-2386
Telephone: 1-720-241-7200
Website: http://www.sls.net/

Who are we? We are Lemberg Law, a Consumer Law Firm

Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today!  There is no charge unless we win.

Understanding Your Debt Collection Rights

Federal laws protect you. The Fair Debt Collections Practices Act (FDCPA) regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).

But here’s the rub: If you want to enforce your rights, or recover money for violations — you need to sue. These laws provide individuals like you with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.

Ready to Stop the Harassment?

The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200.

What Our Clients are Saying

“I was almost going nuts receiving calls every afternoon from a person using profane language to push me to pay debts I don’t owe. Someone I trust referred me to Lemberg Law, and I don’t regret having contacted them. The attorneys were very kind and always available when I needed them.”

“Thank you for standing with me Lemberg Law. I was so afraid I could lose my job because of a caller who called my job number 4 hours straight back to back. He not only harassed and threatened me but also abused workmates who received the call when I wasn’t around. Since I solicited for your services, I’ve had a peace of mind, and I’m happy because of the few dollars I got as a settlement.”

“I just called in to thank you for the incredible help you offered to my sickly father who was bothered with frequent calls from scammers. At a point, he just wanted to pay them to get rid of all the annoyance, but because of Lemberg Law’s assistance, he got free help, and the bothering calls ended immediately.”

Can You Help Me Delete Specialized Loan Servicing from My Credit Report?

Chances are we can. Call us to today and we’ll tell you how we can help.

Share your story

Have you had a bad experience with this agency’s debt collectors? Sound off and share your experience with other visitors in the comment box below.

31 COMMENTS
  • Laura W

    My first month with SLS and a nightmare!! I made payments online through Bank of America ..in the amount of my payment slip and instead of processing my payment in a normal way it went to pay down equity on the loan so now I am late. I’ve called them 3 times to try to clear it up and every time the woman puts in a request to have it done and then I call back to double check and it is not done. They also have the escrow amounts wrong on every single one of my loans. Which again have put in a request to have corrected and so far no luck. Plus get an email today from my insurance agent they are refusing to make payments on my property insurance. This company is the worst most unprofessional company I have ever dealt with in my life. No matter how many times I email or call they can’t seem to straighten my account out.

  • Sam S

    In order to get anything accomplished while dealing with this enept company called SLS, you should file a complaint with the following: The Consumer Financial Protection Bureau. They are a government agency that protects consumers from getting ripped off from financial institutions.

  • Chelsea L

    Four years ago, I sold my little house as a For Sale By Owner. While my house was in escrow, the officer neglected to do her due diligence and didn’t pay a debt owed to Sallie Mae. Instead of paying that debt, the money for it was transferred to Wells Fargo, the company who I bought my new house through. Fast forward a year, I got a notice from the Dept of Treasury stating I owed them $14K. Being on a tight budget, I had to file for a chapter 13 bankruptcy so I could keep my home, since any funds from the sale of my old house went into the purchase of my new house (instead of paying off what I thought was paid off in escrow).
    Keep in mind that everything is current on my house; I am not delinquent on my payments. So…I got a notice at the end of last year saying that my mortgage had been transferred from Wells Fargo to SLS. With SLS, I have not had access to any online records. I have to phone in my payments, each call takes at least 30 minutes because I have to reach a person to do it. I have had at least two escrow reviews within seven months, where my monthly payments have changed and I can’t make sense of anything. Each monthly statement shows a different amount due, wildly varying from each other. I received a statement for May, which was $300 less than normal but when I called for payment, my amount had gone up $400 instead. It took forever to get through to a person and when I did, he had no answers. First, he said I owed the extra $400. Then, he said I was caught up through July. Then, he said there was a escrow analysis done, which is why the payment went up but the system said that no letter had gone out. I asked to speak to someone in escrow and before my call was dropped (for a second time), she said I was not caught up through July and that I owed a payment for May but it wasn’t the lowered rate, but a different rate altogether.
    There seems to be egregious mismanagement of my loan and it is causing severe distress, especially since I’m on a restricted budget due to my Chapter 13 payments.
    Is there any action I can take? I’m in Oregon.

  • Caoline

    My legal concern is that SLS transferred my loan from wellsfargo without my knowledge or consent. I recently noticed this on my bank statement that mortgage had been transferred. When I called Wellsfargo, I was told that this took effect on March 1, 2019 and that a notice was sent to a Vancouver address, which I have never lived in the state. I will be calling this company this morning to get this straighten out because I have never been late on my mortgage and my house is almost paid off. I will also be going by Wellsfargo today and will be closing my accounts there because it seems as if they are continuing to try to scam people also. This is ridiculous. Everyone please keep an eye out on your bank account, they will transfer your account and you not know about it. Granted my ex husband and I are on this loan even though I was granted the house in a divorce and they know this, But they have failed to contact me.

  • Jamie A

    I had auto payments with bank of America, next thing I know I’m late on my payments to some random company I’ve never heard of. My principle balance has gone up from 80,000 to 96,000 …. how is that even possible. Then I asked for a loan modify and they did, but then 2 months later increased right back to where it was after adding another 5k to principal. Then today some old dude was outside my house after I got out of shower, walking all around the sides of my house, looking in my mailbox, looking thru the windows of my car, standing in my FRONT YARD TAKING PICTURES while I’m in my bedroom getting dressed, totally freaking me out, then pulled his car into my drive way and wouldn’t let me leave for work until I gave him my date of birth and all this creepy info…. I’m like, dude yeah… I’m behind on my mortgage, but I’m a single mom still LIVING here at the moment and you’re creeping me out. Get off my property. Unless you are the police with a badge, I don’t know you and I’m not comfortable with you creeping around my windows taking pictures while I’m inside showering. I was about to call the police. And then I’m like, if you work for sls… then you should have my date of birth… now move your f* car out of my way stalker!

  • Shaun D

    As we can all see this company is horribly dishonest, I have contacted this law firm for help. I have owned my home over 20 years and my loan was sold January 2019 to SLS from Wells Fargo, I was always 4-5 payments ahead, I have faxed and provided proof of all of my payments, I was promised they would speak with Wells Fargo and not to worry, after 20 plus sales reps multiple faxes and calls Easter weekend and I get a foreclosure notice. How can a company operate in the US like this? Please help this is a serious problem

  • Mia

    We recently discovered SLS purchased homeowners ins stating our ins was cancelled a month prior to it being due. They named themselves as payees. We never recieved a notice from our home owners ins stating we were cancelled. We had enough in our escrow account yet now they raised our payment 300.00. Im afraid they are going to do something to our home so they can collect ins money leaving us with a mortgage still. We also noticed major discrepencies in our escrow account. We never looked to see if we were owed money from closing either. I think a lawyer consult is in order ? Feelin super nervous

  • Bruce J

    I got a new mortgage in Feb 2018 with GMFS which is serviced by SLS. That was a huge mistake. SLS is horrible. Their customer service, website, and payment options are even worse. They are downright thuggish. They are rude and have been harassing me for a month “attempting to collect a debt” “because I haven’t paid my March payment”. Problem is, the March payment was made, on time like every other payment, yet they kept calling me and telling me “they haven’t received it”. Every time I call I am transferred to multiple departments, to multiple unprofessional reps, before I finally got to a supervisor. I was finally informed that even though my payment was made before the late date over the phone, accepted, debited from my account, and credited to SLS’s account, “the phone rep made a mistake and shouldn’t have accepted it.” Huh? I was informed that they are now crediting my back account back and I have to make the payment in another way. Are you kidding? It’s been over two weeks and my bank account has not been credited back yet. They even admit to their error and that the payment was actually made and they have to credit me back. All this just to use a different form of payment. These people are ridiculous and I’m afraid it is about to get worse over time.

  • Kim S

    I had my loan transferred from Wells Fargo to specialized Loan Servicing beginning in March and I was able to make that payment, but I am now trying to make my payment for April and I keep getting thrown off the website. Reading all of these comments is really scaring me. How do I get away from this company?

  • Donna E

    I to have had all most a forcloser on our house,and mos,and they told me to pay 390,00 for 3 months,and then go back to our regular payment,245.00 when we were working,we could afford it now with the 390 had to let the gas go ,we are both disabled and elderly box,and I told them we can’t live with that amount and pay elec,gas,insurance,and sat,Iwe are on fixed income,they don’t care what do we do????

  • Katina H

    Just tried to make an online payment to my mortgage company and got a message that my loan was transferred to SLS, reading all the comments. A little nervous right now

  • Carol sanchez

    My mortgage loan was transferred to specialized loan Services..After being with WFG for over 20years never had problems with them.. I read the reviews and I am not looking forward to being part of SCAM…HELP

  • Andrew

    Same here… too much to write… pissed off… 10 years and now I get a letter from SLS mortgage that my hoa6 is unacceptable because it doesn’t state “ betterment’s and improvements”! Idiots on the phone have no knowledge of insurance declarations! They bought insurance in my townhome when I showed them proof of insurance! Is this fraud or what!!!!

  • Beth

    My BOA home equity loan was also sold to SLS in Dec 2018 but I received a letter in January from BOA to continue to send my payment to BOA. My loan has less than 2 years left. I have always paid around the first of the month, after a pension check is posted. SLS has already started calling me and my HE loan was paid for posting 2/4/2019. Now I log into BOA and my HE loan isn’t listed there. I will not put up with the phone calls.

  • Denise

    I guess I am thankful that it’s just my HELOC that was sold to this firm from Bank of America. Unfortunately, Bank of America said that this is effective February 1, 2019 and so that does not give me much time to pay off my HELOC to Bank of America so I told have to deal with these people. All of these comments are very disturbing and I am a little scared as I just really don’t need the problems that might come along with this transfer.

  • Sam Spader

    I applied for a loan modification with SLS, which is now in it’s 3rd month of processing without any results whatsoever. This company is a certified JOKE! Incompetent and inept personnel that should be working at car wash. Search the Internet and see the multitude of dissatisfied employees of SLS and customers of SLS. This company is owned by a holding company located in Melbourne, Australia called Computershare that probably has no idea what a terrible investment they bought into.

    SLS constantly looses the paperwork that you send them either by postal mail or email. You’ll never talk to the same person twice due to the fact that their phone system has NO extension numbers to reach the person you last talked to.

    They pay their foreclosure specialist a BONUS to put people in foreclosure. I filled a complaint with the Consumer Financial Protect Bureau, which is a US Government bureau that is responsible for protecting people that are dissatified with the dealings if financial companies.

    I really feel sorry for the people that have to deal with this immoral company. That’s my two cents worth. : – (

  • Dennis Martinez

    I have called many times and was immediately disconnected and now I can not make an online payment
    No customer care center number goes thru

  • Dorothy Henderson

    I get a call from SLS almost every other day and sometimes they call me two times in the same day. When I don’t talk to them they I get a letter in the mail. There are times when they try to make me send them a payment for a house I never stayed in. This has been going on for years about this same house.

  • Mini Bios

    SLS has a very flawed administrative system, which is really no system at all. Their phone system has no extension numbers to reach certain personnel, so therefore you’ll never get to talk to same person twice. The left hand doesn’t know what the right hand is doing. Managers are totally incompetent and should be flipping burgers at their local McDonald’s. Check out the complaints from employees at Indeed.com. Just keyword, specialized loan servicing on the Indeed.com site and you will see 85% disatisfied employees that either have left SLS or sticking around until a better job is found.

  • Karen Francis

    SLS was never able to help me refinance and o wasn’t HARP eligible either. SLS requested paperwork that they then claimed was not received. I lost my home.

  • Travis

    I have also tried to call SLS over 20 times today and it rang 4/5 times then the line went quite and hung up. I’ve been yanked around for over 3 months now trying to get my father estate situated. Beyond frustrated! Frauds!

  • Mr. Melendez

    Hello, is SLS still in business? I have tried different phone numbers today, no luck. I just talked to someone there last week. I have tried contacting the company that owns SLS . No luck there either.
    I did some research, they have quite a number of complaints and class action lawsuits. What is going on?

  • Melissa Harvey

    I have had similar problems with SLS mortgaging. Harassing letters x 6 sent certfied every month. Payment plans that do not work out. Try to call back and they will not answer. Cancelled our property insurance. Ruining my credit. saying they sent me a modification plan but I never received it. Putting checks through my account when they said I had to pay cash causing more charges.

  • April Yates

    SLS has also stolen my home as well come this Tuesday. Illegally foreclosed and then when I was selling it they came up with a 5000 HOA lien I was never informed of until we were about to close and lwft me now with no time to do so. Refused a stay on foreclosure even though I have an active cobtract to sell. Literally needed one more day and instead they are going to take my house.

  • Rita Fasullo

    SLS May have already stolen my home ( after 12 years of torture by all involved ) they are ruthless,inhumane crooks !
    Do you work for them ? they pay many to be able to just take your home !

  • Lisa Sidlow

    I sold my house 4 months ago and Specialized Loan Servicing has yet to return my tax and insurance escrow money. The amount is $7258, not an insignificant amount. Every time I call they say, “the check is in the mail”, but it never comes. I a, sick of calling and being on hold, and being lied too.

  • Masud Hannan

    Same as above complaints again SLS. Got loan modification from SLS after Bank of America. Since first 3 months of trial period (Sept-Nov of 2015) SLS started sending letters that they missed payments, then send delinquency report to credit company and ruined my credit. I did not miss a single payment with SLS. I have been sending certified mails by USPS to keep track of when SLS receives my mortgage payment and when they withdraw money. But the delinquency letter still keeps on coming. I need help to stop this fraudulent SLS so that my credit is recovered. I have suffered financially, immensely due to this false credit report. Can you help, Please.

  • Maria

    Hello, my mortgage was sold by DITECH to SLS in Now 2017, and THE harassment started in Feb2018!!! from the regular payments, I got inflated ESCROW and subsequently TOTAL MONTHLY bill, that I should pay 500 $ a month more, because:
    *late payments fees
    *they got condo insurance for me ( suggested I do not have one)
    *Condo maintenance/HOA / monthly fees ( I pay regularly once a month)
    After 3 month FAXING the proof of insurances, 200 .00 was removed from ESCROW, but HOA (home owners ass) is still there , despite FAXing them my checks that I am paying myself for the monthly condo maintenance / or HOA/ myself past 20 years!!! Gave them the name and the phone number of condo Manager office to claryfy, but SLS never did!!!
    Really sick and tired, I am ready to consult the real-estate lawyer!
    Please help, if you can with some advices! thanks, Maria from FL

  • Russell longo

    sls is constantly calling me on the 2nd or 3rd of the month to tell me my payment is due I consider this harrasment as my payment is not late until the 15 th how can I stop these nuisance calls

  • Laurie Genter

    SLS is constantly sending me letters stating that I am one month behind in my mortgage payments, I am not, I did an loan mortification I believe in 2014 i have not missed any payments to date , I was sent a letter in July of 2015 stating that my impound account was negative $449.00 and that i had $189.00 in late fees on my account, so I sent them $638.00 along with my regular payment that month, to date they cannot tell me were that money went only that they can confirm it was received, not their telling me that i am still on month behind in my payments but cant tell me what month I missed and until they do I’m not sending them anymore then my regular monthly payment, so now their adding late fees every month. I’ve gone over my bank statements going back 3 yrs. I cant fine a missed payment.

  • Sallie Cannady

    My concern is that SLS is cheating me out of my home they bought our loan from BB&T some how our life insurance on our home got turned into flood insurance of which is not reclored to have in our area my husband passed away 1/7/2017

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