Who bought out Specialized Loan Servicing?

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

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 debt collector?

Is SLS LLC A Debt Collector? 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.

How does a mortgage servicer make money?

Loan servicers are compensated by retaining a relatively small percentage of each periodic loan payment known as the servicing fee. The typical servicing fee is 0.25% to 0.5% of the remaining mortgage balance per month.

How much do loan servicing specialists make?

How much does a Loan Servicing Specialist make? The average Loan Servicing Specialist salary is $52,475 per year, or $25.23 per hour, in the United States.

Is Specialized Loan Servicing a mortgage company?

SLS LLC or Specialized Loan Servicing is a mortgage servicing company which collects on residential mortgages. Many consumers will receive a notice from SLS when they had originally had their mortgage held at Bank of America or even Country Wide.

How do I order a payoff from SPS?

There are several ways you may obtain a payoff quote:

1. Online. Request a payoff quote through this website.
2. Phone. Call one of our experienced Customer Service representatives to request a payoff quote.
3. Mail* Send your request to: Select Portfolio Servicing, Inc. Attn: Payoff Dept.
4. Fax* Fax your request to 801-269-4269.