Is this reporting correctly?

[credithelp823]

Hi everyone,

 

It's been a few years since I've been active on here. 

 

Thanks to some of the vets I tackled some baddies and was able to close on my home back in 2016.

 

Life happened and a few bad decisions now I'm back in the same boat working my way back to 700 club (cue face palm)

 

For now, the biggest thing probably hurting my CR are lates on my mortgage.

 

My original servicer was PACIFIC UNION FINANCIAL, LLC (CLOSED)

CR shows (3) 30 day lates from Dec 2018 to Feb 2019

It was then transferred to Nationstar/Mr. Cooper

CR shows (2) 60 day lates for May and June 2019 and a 30 day for July 2019

I began a loan modification with them, got to the end of my trial period when it was sold to Midland Mortgage

Midland is showing 180 days late for Feb 2020 

 

Is this reporting correctly? When your loan is sold/transferred shouldn't that give you a new slate?

 

Thanks for helping me with this!

 

Edited October 12, 2020 by credithelp823

[cv91915]

The new servicer should be reporting the entire history of the TL.

 

Here's an old mortgage loan from my Experian file.  Note that this was refinanced and paid off before Ditech took over the servicing.  

 

In the history of the world, I have never made a mortgage payment to Ditech.

 

 

[credithelp823]

When you say the entire history, do you mean from when it first opened?

 

Should the other servicers be reporting those lates?

 

It just seems that this is tanking my score because I have three TLs reporting late.

[cv91915]

10 hours ago, credithelp823 said:

When you say the entire history, do you mean from when it first opened?

 

Should the other servicers be reporting those lates?

 

It just seems that this is tanking my score because I have three TLs reporting late.

Yes, the loan is the trade line.  The servicer is the data furnisher. 

 

When a new servicer takes over a mortgage, the old servicer should stop reporting and remove the trade line, and the new servicer should report as if they've serviced the loan since the day it was originated.

 

If you refinance into a completely different mortgage, you would get a fresh open mortgage trade line (but the old one would continue to report as paid/closed).

[credithelp823]

I have (3) servicers because the loan was sold/transferred three times. Each of those trade lines are reporting 120 days.

 

I know this is tanking my score.

Is there anyway I can GW? 

Edited December 28, 2020 by credithelp823

[cv91915]

11 hours ago, credithelp823 said:

I have (3) servicers because the loan was sold/transferred three times. Each of those trade lines are reporting 120 days.

 

I know this is tanking my score.

Is there anyway I can GW? 

If you have three servicers reporting the same mortgage, you may be able to successfully remove the two older ones through the dispute process, but having one TL with a string of lates (up to and including one or more 120s) vs. three trade lines with a string of similar lates isn't going to help your scores much (if at all).

 

Goodwill requests are unlikely to yield any results, but especially on closed TLs with multiple lates, but I would never suggest not trying, especially if you have a sympathetic story. 

[credithelp823]

I'm about to send start WhyChat's HIPAA method.... 

 

Are you able to do two different types of disputing at the same time?

Edited December 28, 2020 by credithelp823

[credithelp823]

Also, when you say dispute process... What specifically should I send to the CRA's?

[cv91915]

On 12/28/2020 at 12:12 PM, credithelp823 said:

I'm about to send start WhyChat's HIPAA method.... 

 

Are you able to do two different types of disputing at the same time?

My understanding of the medical program is that you don't attempt other simultaneous disputes.  Simultaneous disputes in general are a bad idea, though.  Don't launch a dispute while you have one already in process.

[credithelp823]

Ok that’s what I thought too.
When I finish with this round I’ll tackle this. How should I word the dispute?

 

[cv91915]

13 hours ago, credithelp823 said:

Ok that’s what I thought too.
When I finish with this round I’ll tackle this. How should I word the dispute?

 

Just use plain English.

 

Dear bureau,

 

You are reporting the same debt three times on my credit report.  Please correct my report by deleting the duplicate and triplicate instances.

 

Enclosed is an excerpted copy of report #_____________ with the relevant accounts circled in [red, fuchsia, puce, green, mauve, ecru].

 

This request was sent by [carrier name], and the tracking number for this correspondence is  _______________ .

 

Love, 

Me

 

PS:  I have also enclosed a copy of my [ _______, ________, and ________ ] so you can verify my identity.

[credithelp823]

Ah, thank you so much!

 

I'll keep you updated. 

 

First I have to remove old addressed/personal names... Question about that- Can I remove my maiden name? 

 

I just created another thread... which of my baddies should I tackle first. Which would yield faster score increases?