Specialized Loan Services LLC

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Specialized Loan Services LLC

Incredibly nice and accessible people. Contact was Monica phone (800) 306-6059 fax (720) 241-7526 SLS Customer Resolution.

Website: https://www.sls.net/default.aspx
Location: Littleton, CO
Members: 163
Latest Activity: Sep 5

Specilaized Loan Servicing Short Sale Information

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Discussion Forum

SLS First and Only Lien: Question

Started by Kelly W. Maynard. Last reply by Theresa Rossignol Sep 5. 9 Replies

Hello,I am about to take a short sale listing tomorrow where the first and only lien is with Specialized Loan Services LLC.  I have noticed that many of the members in this forum have SLS as a 2nd. …Continue

FYI - Specialized Loan Services Horrible to Deal With

Started by Barbara A. Reagan Jun 17, 2015. 0 Replies

Unbelievable.  I had a listing in the Richmond area that has been under contract for a year - seller lives in Japan.  SLS holds both first & second - but, according to them, even though it is the…Continue

SLS is forcing my Seller to Foreclosure or Deed in Lieu/Will pay them $2,500?

Started by Amber Castonguay Feb 25, 2014. 0 Replies

We have had 4 offers on a property that SLS is servicing, the  house has broken water pipes, SLS first said the Investor wouldn't take less than $330,000, the offer is in the $170,000's. I had to do…Continue

Tags: Sales, Short, SLS

SLS Continues to Increase their NET!!!

Started by Joyce Bryan Nov 12, 2013. 0 Replies

November 12, 2013 - Regarding SLS as the 1st lien holder...they verbally told us what they needed to net and every time we found a buyer to come up to what they want to net they increase their net. …Continue

Tags: (SLS), LLC, SERVICING, LOAN, SPECIALIZED

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Comment by Joanne Hodge on February 7, 2014 at 5:31pm

Help!!!!  ALL Ideas appreciated!!!

Short sale package submitted mid October 2013.  SLS spent a month asking for some of the same docs.

early January, SLS asks for statements from 2nd (private) lienholder giving SS approval etc.  Submitted approval letter (2nd was asking for $6K, $135K lien, well below the $8500 HAFA guideline).

Spent a couple of weeks with them asking for above info again. Rep would look in file, note that the info was received, make note and send on to "workout" dept.  Check back a few days later, same story.

Feb 5, SLS send "rejection" letter "insufficient proceeds due to excessive payment to 2nd lienholder OR no release filed by 2nd".  Called, CSR couldn't tell me what the heck they want.  $0 to 2nd?  or some amount less than $6K???  CSR sends a note to workout dept asking to call me.  Then I get a secure email with the HAFA "do you want a loan mod or short sale" letter.....  explaining that the 2nd can receive "up to $8500"    HUH?  Called again, can't get anywhere.  Workout rep has no extension.  CSRs don't even know if she's there....

ANY IDEAS???

Comment by Sheila Newton on January 20, 2014 at 2:39pm

getting very frustrated with SLS.. they have had ALL info for almost 3 months and everytime i call in, they say they don't  have something that I can show them they do.. they then say, oh yes, here it is, let me send that to underwriting.. then the same loop happens 3 days later... good grief.. I have even escalated to 2 supervisors and still nothing.. any advice from someone would be awesome!

Sheila

Comment by Alex Brana on September 20, 2013 at 4:24pm

Anyone have a good contact at SLS? It would be much appreciated.

I've had a short sale file with SLS since April '13. This was originally a B of A loan whose servicing was transferred to SLS (likely as part of B of A's settlement late last year) in January of this year.

I've had a cash offer in to them since April and they have been very obviously delaying the short sale since. Ive done over 130 SS since 2009 so I know how to submit a complete package and we have been meticulous in that regard. It started with the usual "we didn't receive this doc or that doc"....but now it's gotten to asking for items that I know are irrelevant.

It feels very reminiscent of the horror stories I've heard from clients who tried to do loan mods but were repeatedly and deliberately stalled.

My theory is that since SLS is only the servicer and since they are generating fees they have NO incentive to approve the short sale and have likely not even presented the offer to the investor.

We've submitted a detailed QWR for information, including investor contact but it has been ignored.

My borrowers are retired and really want to get this done before the end of 2013 else they risk losing out on the Mortgage Relief Act cancellation of debt exemption and get hit with a huge capital gains tax bill for 2014.

If anyone has a good contact at Specialized Loan Servicing (SLS) I and my clients would be very appreciative.

Thanks

Alex

Comment by Enrique Vasquez-Plaza on July 5, 2013 at 11:10am

I was able to get SLS to provide me a 8500 HAFA, and they wanted 18K initially.

Buyer failed to close due to getting down payment assistance late and they provided an initial extension of 8500 with no fees.  Buyer failed again and now they want 9900.  Fighting to get my 8500 again.   I hope we do, for the well of everyone.

Comment by Enrique Vasquez-Plaza on July 5, 2013 at 11:07am

I am having the same issues now.  @ Karin Christa

I have no problems with Servicer trying to get more money.  Its fine.  I got Anthony at SLS initially too.  He is a collections artist: Extremely intimidating and rude.  I bet he is one of the most aggressive and effective reps out there... However, the overall response after escalations (since I was working HAFA and needed a 8.5K payoff and they wanted 18K initially) is great.  SLS is effective but they reps are sent out to give up a fight and only if they understood HAFA could be way easier for everyone else.   Again, you can work with them, they are fast, but I got the guy Anthony who is extremely hard to talk to, and I am more of a guy that prefers to avoid oral confrontation and I rather push to get it done.  

I am expecting my 2nd extension from them... Well see...

Comment by Kelly W. Maynard on June 1, 2013 at 2:10pm
Comment by Pamela Lester on June 1, 2013 at 2:03pm

Where can I find SLS short sale docs?

Comment by Kelly W. Maynard on April 1, 2013 at 3:29pm

Boy, I completely understand!

Quick question, has any one every challenged a BPO with SLS?

Comment by Kelly W. Maynard on March 30, 2013 at 12:39pm

Same thing with me.  It took almost 60 days for them to review the docs.  They kept requesting what I had already sent them.  I would prove to them, while on the phone with a "Customer Service Representative" that I had already sent it.  They would make note of it and supposedly send the note to the (at that point) the person which is the point of contact.  We did this whole process every 5 days.  The first time I dealt with them the process was much smoother, but not this time.

Comment by Dawn O'Neal on March 30, 2013 at 11:46am
Document well the paperwork sent to SLS. After emailing 48 requested documents twice, I then faxed those same 48 documents - twice, and every time I called I got a different person. ONLY first names given and never the elusive Anthony's extension who is supposed to be the central person handling this file. (From comments below, guess I am glad I did NOT talk to him.).

After 1.5 months of being told every time I called that "now we need ......." They finally told me yesterday that they have all the docs, it is in underwriting now, then goes to Workout department and THEN they order the BPO. Each person I have talked to has been very nice but was totally frustrating being told they did not get files, again and again so I started emailing and faxing everything. We have the 1'st approval so still playing SLS's game to see if we can make it to close on time.
 

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