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After loan mod: Item Is Suppressed Pending Credit Grantor Update

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My credit reports are showing a delinquent account: Pay status 120 days past due.

 

I was 120+ late in 2013, but the loan was modified and is now current. The mortgage passed from (Indymac/OneWest/CIT) to Ocwen, who modified it.

So I'm wondering, is it being reported correctly, and do I have any options for improving my credit score: http://i.imgur.com/jOs7nt7.png

 

CIT bank said:

"When your loan was service released to Ocwen on November 1, 2013, you were due for the January 1, 2013 payment. The loan is reporting accurately as we are required to report the delinquency at the time of transfer. This does not get removed from your credit report once the loan is transferred. If you are disputing credit reporting past the transfer date, please contact Ocwen for assistance."

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