Product: Credit reporting, credit repair services, or other personal consumer reports

I had a home equity loan ( $ XXXX ) with MbFinancial. Approx. 3-4 months ago I received a letter informing me that MbFinancial had been taken over by FifthThirdBank ( 53.com ) and was given information on where to now send my payments to FifthThird Bank . I have made payments to FifthThird Bank since XX/XX/2019. 

I own a commercial building as well. I am in the process of remodeling the building and was seeking a loan from another lender ( $ XXXX ) to finance the improvements. I was notified today ( XX/XX/2019 ) that the lender would be unable to approve the loan because my credit report indicated that I have two ( 2 ) home mortgages for XXXX, not 1 mortgage as I reported on my credit application to them. I was shocked to hear this and immediately logged onto my credit monitoring service, and sure enough, it shows that I have a XXXX loan with MbFinancial AND now ANOTHER XXXX loan with FifthThird Bank, not 1 mortgage that FifthThird Bank took over. 

I immediately called FifthThird Bank to complain about the credit reporting error and asked for immediate correction due to the time-sensitive nature of securing the new loan. I was told I would be mailed a letter sometime in XX/XX/XXXX. I complained that this was unacceptable due to the time-sensitive nature of securing the new loan, scheduling contractors, etc. I asked that they email me a letter immediately explaining the situation and to correct THEIR error, so I could provide that information to my new lender. I was told that FifthThird Bank was unable to email such a letter and that I would be receiving the letter by regular mail sometime in August. I again complained that this was unacceptable and was offered to speak to a supervisor. The supervisor reiterated their inability to send a letter or correct my credit report any sooner. I asked what other recourse I had with FifthThird Bank and what governmental oversight agency I could complain too. I was offered the FifthThird Bank president 's regular mailing address to send him a complaint letter ( They would not provide his email or telephone number ) or I could telephone their Customer Service Dept. I AGAIN explained that the situation was time-sensitive, and sending a complaint letter to their president via snail mail wasn't sufficient, and further, why/what good would me calling their customer service department to complain do? I was already communicating my issue/complaint to a supervisor. When I asked what governmental agency oversaw their mortgage department, I was told the FDIC. I suggested that the FDIC oversaw banking issues, not mortgages or credit reporting and was told, " oh, you're probably right '', call the FHA. I replied, I don't have an FHA loan, and asked if they actually knew which agency oversaw/regulated them or was the supervisor I was speaking with simply googling ( I could hear her typing ) to find out. She admitted she didn't know and was trying to XXXX the answer. I was given this case number to reference # XXXX. 

What is the requirement for mortgage lenders to update their credit reporting when they take over an existing loan? Why would they report the loan under their name to the credit bureau without first, or at least simultaneously removing the prior lender? 

What is my recourse for damages if my request for an additional loan/credit is denied because of the duplicate reporting of my home mortgage? 

Should mortgage lenders know what governmental agency oversees/regulates their activities, and should they be able to provide that information to their customers? 

What is the expected time allowance/frame for a lender to correct such egregious credit reporting errors, especially such as this, which can have detrimental financial consequences on the consumer? 

Thank you.