Specialized Loan Servicing – SLS Collection Complaints?

We Stop Unwanted Calls and Debt Collector Harassment.

By Sergei Lemberg | Updated on

By Sergei Lemberg | Updated on

Specialized Loan Servicing - SLS
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.

Have questions? Call us now at 475-277-1600 for a Free Case Evaluation.

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The harassing company pays our fees.

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: https://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.

Sergei Lemberg

About the Author:

Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.

See more posts from Sergei Lemberg
56 COMMENTS
  • Lisa E

    We need help opening a suit against SLS. can someone please contact me A.S.A.P.?

  • Carolyn M

    Can they change a small 2nd mortgage fixed rate to a balloon without your consent? Have been paying same amount for nearly 15 years and coming up on end of term and trying to say we owe over half of original amount. Citifinancial sold loan to these crooks! Conventinal 15 year loan now demanding nearly 9 thousand by Nov 22. Need a good lawyer in Virginia Beach!

  • Amy

    We did a short sale on our house in 2011 and haven’t lived in it since. We settled the second mortgage on our home with a settlement payment at the sale of that house. The second loan that we settled was with E-trade. After we sold the home, we started getting bills from SLS, saying that we owed the entirety of the second mortgage which we had just settled. They claim that we still have a second loan on a home that we don’t own.
    For about 18 months, they would call and harass me daily multiple times. Oftentimes they would call me at work and speak with my secretary. Their calls were not only a nuisance, but threatening. In the meantime, bills kept being sent and they were attaching fees on top of fees to the total. Our credit took a 200 point hit when they reported to the credit bureau that we had multiple “missed mortgage payments” on a home that we no longer owned. This was back in 2011. This still plagues our credit as they have had to admit to our mortgage lenders on two occasions that they have “written off” the debt. As soon as they “write off” the debt, they re-charge the debt to us and ding our credit again. We have been advised by our lenders not to accept phone calls from them, so we haven’t for two years now. However, our credit has still not fully recovered, and it just caused our interest rate on an investment property to be much higher than it would have been if our credit were higher. I blame our credit score directly on SLS.

  • Anne P

    SLS sent me a demand notice for a property currently in bankruptcy in August 2020, this was after numerous phone calls to me directly when I informed them they could not contact me, only my attorney. I also sent them funds for my escrow account for the difference when I changed insurance providers, they placed these funds in a suspense account for months (close to a year actually). These same funds were used for my monthly payments when they used part of these funds as interest and when they “fixed” it they still did not reverse these payments. For more than a year I was overpaying my mortgage along with my bankruptcy repayment.

  • fed u

    I called 14 days after my mrtg went into foreclosure to cure default. A couple months of run-around and a faulty reinstatement quote that contained a years worth of mrtg payments not yet due. Then they sued me in foreclosure after not allowing me to reinstate. The Act 91 Notice was defective and they literally deceived the court with false certifications of documents. All of this is in the court record, but I had a terrible attorney who was suspended from practicing law and now I’m pro se. It is now going on 4 years, been through trial, appeal, and Supreme Court and the merits of the case were never heard or addressed. I CAN FIND NO COMPETENT OR AVAILABLE RESOURCES.

  • Robin H

    They have me in foreclosure over an $11,000 heloc that belonged to
    My ex husband who is deceased. My home has been paid for many years. They would not give me any info until after they put me in foreclosure! I faxed and sent certified documents they requested and they say they did not receive. Now they say I owe $31,000. They are the devil. I’m a single mom who worked hard to pay my home off and now they are trying to steal my home too. We need a class action suit. The loan was originally with Bank of America and was sold to them. They are crooks!

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