Is SLS a debt collector?

​SLS accepts calls from relay services on behalf of hearing impaired borrowers. Please note, although your call or request may be general in nature, we are required by law to advise you that we are a debt collector, and any information obtained will be used for that purpose.

Is Specialized Loan Servicing a collection agency?

In May 11, 2020 the Consumer Financial Protection Bureau settled with Specialized Loan Servicing LLC (SLS) and ordered SLS to pay millions in monetary relief to consumers. However, SLS LLC is not a collection agency.

What kind of company is Specialized Loan Servicing?

Specialized Loan Servicing LLC (SLS) operates as a financial company. The Company offers residential mortgages, as well as provides loan modification and planning services.

Who is SLS mortgage owned by?

Specialized Loan Servicing LLC (SLS, or the servicer) is a wholly owned subsidiary of Computershare Limited (Computershare), an Australian-based global financial services firm operating in 22 countries with over 16,000 clients and over 125 million end users.

Why was my Wells Fargo mortgage transferred to Specialized Loan Servicing?

Within the mortgage industry, mortgage loans are often transferred from your original lender to a company like Specialized Loan Servicing that concentrates on processing payments, providing escrow administration and general activities associated with your mortgage loan after it has been funded.

Can You Ignore Debt Collectors?

Who took over Specialized Loan Servicing?

CPU acquired Specialized Loan Servicing LLC, a mortgage servicer headquartered in Denver, CO and enters the US mortgage market.

How do I contact SLS?

General Phone Inquiries. ​Call our Customer Care Center at 1-800-315-4757, Monday through Friday from 6:00 a.m. until 6:00 p.m. MT, for friendly, helpful assistance from our trained representatives.

Can a loan servicer foreclose a mortgage?

Servicers cannot foreclose on a property if the borrower and servicer have come to a loss mitigation agreement, unless the borrower fails to perform under that agreement.

Can I stop my mortgage from being sold?

Can you stop your mortgage from being sold? No, you do not have the ability to stop your mortgage from being sold.

What is the difference between a lender and a servicer?

Your mortgage lender is the financial institution that loaned you the money. Your mortgage servicer is the company that sends you your mortgage statements. Your servicer also handles the day-to-day tasks for managing your loan.

Can you pay SLS with a credit card?

What payment methods does Specialized Loan Servicing accept? You can visit here to pay them directly, or pay through doxo via Apple Pay, debit card, bank account or credit card.

How long does it take to get approved on SLS?

It can take up to 24 hours for your profile to be approved. During that time you will be able to browse through profiles, but communication will not be possible. If 24 hours feels like too long of a wait there are a few things you can do to get your profile approved faster.

How do I order a payoff from SPS?

How do I cancel an escrow account?

You must make a written request to your lender or loan servicer to remove an escrow account. Request that your lender send you the form or ask them where to obtain it online, such as the company's website. The form may be known as an escrow waiver, cancellation or removal request.

What is a service loan?

Loan servicing refers to the administrative aspects of a loan from the time the proceeds are dispersed to the borrower until the loan is paid off.

What is a payoff quote?

A payoff quote shows the remaining balance on your mortgage loan, which includes your outstanding principal balance, accrued interest, late charges/fees and any other amounts. You'll need to request your free payoff quote as you think about paying off your mortgage.

Why is my mortgage company a debt collector?

Creditors. The mortgage company can seek to collect the money owed at any time once the debt becomes past due. The mortgage company can do so on its own or hire a collection agency. The reference to 30 days applies to credit reports; late payments are reported to credit bureaus in 30-day increments.

Can bank sell your mortgage without telling you?

Federal banking laws and regulations permit banks to sell mortgages or transfer the servicing rights to other institutions. Consumer consent is not required. However, the bank or new servicer generally must comply with certain procedures notifying you of the transfer.

How many times can your mortgage be sold?

“Sometimes, a mortgage loan can be sold multiple times without the borrower's knowledge if the servicer doesn't change with the sale,” says Whitman. If your loan is sold or transferred and the servicer changes, here's what to expect and do: Expect to receive two notices. One will come from your current servicer.

Does a loan servicer own the loan?

Mortgage servicing companies matter more than ever

Chances are, the company that you send your mortgage payments to isn't the owner of the loan or the original lender. Instead, payments are sent to a separate “mortgage servicing company.” Mortgage servicers tend to be out of sight, out of mind.

Do banks want to foreclose?

Most often, a bank chooses to foreclose because the homeowner has stopped making monthly payments. They might also foreclose if the homeowner transfers the property to a different owner without the bank's permission or the homeowner isn't paying for property insurance.

Is my mortgage covered by the CARES Act?

The CARES Act provides a mortgage payment forbearance option for all borrowers who, either directly or indirectly, suffer a financial hardship due to the novel coronavirus (COVID-19) national emergency.

How do I email a specialized loan service?

Please return the completed form at your earliest convenience to SLS via E-mail: [email protected], Fax: 1-720-241-7526, or Mail: Specialized Loan Servicing LLC., P.O. Box 636005, Littleton, CO 80163-6005.

What is an escrow balance on my mortgage?

Your escrow balance is the amount of money that is held for you in your escrow account (also called an impound account in some areas of the country). You pay into your escrow account each month as part of your regular mortgage payment. Not all lenders require an escrow account, though many do.

Is SLS Computershare?

Corporate Line of Business Reorganization: Computershare Limited (Computershare), the parent company of Specialized Loan Servicing, LLC (SLS), completed the realignment of its London and U.S. mortgage servicing operations under one business.