Mortgage payments/credit reporting question.

[OmniCamaro]

I'm unsure where exactly to post this, I thought I'd start here and go from there.

 

Here's the facts: Ocwen (horrible company), who took over our mortgage when we filed bankruptcy is reporting a 120 late for 5 months on our reports. Their reporting states 120 days late from November 2014-March 2015. I have proof that they accepted a payment (from the trustee) in December 2014. Can they legally be reporting 120 days late with that payment being made? This entire time is when we were attempting to do a modification, for which they through up every roadblock you can imagine, right down to denying it based on a signature "problem" that only they saw as being "wrong".

 

Anyway, any ideas will help.

 

 

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[tiggerlgh]

When did you file for BK? What chapter? When were you due for in December?

 

I need more information to fully answer your question.

[OmniCamaro]

Mmmm, I'm trying not to over complicate the question with information. If you know what I mean?

 

Here's your visual:

 

 

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[breeze]

When did you file for BK? What chapter? When were you due for in December?

 

I need more information to fully answer your question.

[Kuuner]

If your modification boarded around April, and you were delinquent prior to that date, looks like they are reporting it correctly. I'm confident that in your loan mod paperwork, it will say that any payments that are delinquent prior to execution of the loan mod could more than likely be reported as late if you are not actually contractually current. Also, while in your bankruptcy, there is no prohibition from reporting your credit late if you were in fact late. Taking and posting a payment from the trustee does not mean you are current if you weren't contractually current. BK doesn't wipe out late payment history even while your in BK. Trying for a loan mod doesn't wipe our historical late payments either. Some lenders report differently and give you a benefit you might not be entitled to by showing your debt as IIB and wiping out all history. Some lenders don't.

 

When I posted on this site a few years back, I recall long diatribes about what can and cannot be reported to the bureaus for a borrower in BK and to date, I've not seen any statute or code that prohibits a lender from reporting actual performance up to the discharge date. We report actual performance until discharge. Our compliance department and our legal department support that process that we employ and we've had it challenged in court and through disputes and have yet to make any change to that process. That's not to say we are right or anything like that, just that it seems like it's being reported correctly on the screen shot you gave.

 

Also, you now have two years of clean payments on your loan. That's a good thing (Assuming you haven't gone delinquent since April 2016). I'm assuming your mod is fine and your BK is progressing and should be closing soon (Assuming you are in a 13). If all of those statements are true, my two cents is you are losing sleep over nothing. You filed bankruptcy. That did more damage that old 120's on your credit. You can demonstrate and document that you have a clean history from the date of the mod and if it were me, I'd focus on something else. It's not me and it might be important to you to have it show as not being late because you were trying to do a mod and because your trustee was submitting payments. The way you think it should work and report might not be the way they report it. It sucks but that's usually the case.

Edited June 15, 2017 by Kuuner