Product: Credit reporting or other personal consumer reports

Review of Experian Management of Credit Reports Mortgage Loan No. XXXX ( XXXX XXXX XXXX XXXX, XX/XX/XXXX ) Secondary Mortgage Loan No. XXXX ( XX/XX/XXXX and XX/XX/XXXX ) First Incident : Principal Mortgage Loan Background In XX/XX/XXXX, we signed a mortgage loan agreement with Script Number XXXX for {$380000.00}, with an interest rate of 2.99 % for the first 60 months and 6 % for the remaining 300 months. 



In XX/XX/XXXX, we approached the Loss Mitigation Office XXXX XXXX XXXX XXXX XXXX to discuss a temporary financial hardship due to an announced job loss effective XX/XX/XXXX. On XX/XX/XXXX, XXXX XXXX approved a three-month waiver suspending mortgage payments from XX/XX/XXXX, to XX/XX/XXXX. 



The waiver stated that : Payments during the moratorium period were optional. 

Unpaid amounts would be reported to credit agencies as delinquent. 

Despite this, XXXX XXXX reported the unpaid amounts ( {$10000.00} ) as Maximum Delinquent ( 120+ Days ), which XXXX reflected on our credit reports starting in XX/XX/XXXX. 



Loan Modification and Settlement On XX/XX/XXXX, we applied for a loan modification, providing proof of employment and improved financial standing. The modification process concluded on XX/XX/XXXX, when we signed a new agreement with the following terms : Modified Principal Balance : {$390000.00} ( including the capitalization of {$7200.00} in unpaid amounts ). 

Immediate Cash Payment : {$1200.00}, settling all pending debts under the original loan agreement. 

Despite the loan modification, XXXX XXXX continued to report the unpaid amounts as delinquent, severely impacting our creditworthiness. 



Impact on Credit 1. Credit Denials : The negative credit reporting led to over XXXX credit denials, affecting our ability to : Obtain credit cards. 

Finance vehicles and furniture. 

Rent or purchase homes. 

2. Increased Costs : Double interest rates on credit transactions. 

Significant financial losses due to unfavorable credit terms. 

3. Credit Score Stagnation : My credit score remained around XXXX for XXXX years ( XXXX ), despite no late payments after the refinancing in XX/XX/XXXX. 

4. Co-Borrower Impact : My wife, a co-signer, suffered similar financial setbacks due to the incorrect credit reporting. 



Second Incident : Secondary Mortgage Loan Background and Loan Details On XX/XX/XXXX, we reviewed the settlement statement ( HUD-1 ) for Loan No. XXXX related to the purchase of property at XXXX XXXXXXXX XXXX XXXXXXXX, XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX. Key terms included : 1. Loan Type : Conventional Loan insured by the Puerto Rico Housing Finance Authority ( P.R.H.F.A ), with a loan amount of {$25000.00} at a fixed interest rate of 5.5 % over 20 years. 

2. Settlement Breakdown : Total Borrower Obligation : {$430000.00}. 

Primary Loan : {$380000.00}. 

Secondary Loan : {$25000.00}. 

3. Payment Issues : Payment on the secondary loan was scheduled to begin on XX/XX/XXXX. 

No billing statements or payment requests were received for over a decade. 



Experian Reporting Errors XX/XX/XXXX : Experian reported the secondary loan as canceled/paid off. XXXX XXXX confirmed this status. 

XX/XX/XXXX : P.R.H.F.A. stated that the loan had not been canceled but transferred from XXXX XXXX in XXXX. 



Third Incident : XX/XX/XXXX Credit Report Issues Recent Developments In XX/XX/XXXX, I disputed my credit report with Experian regarding : 1. The secondary mortgage loan being labeled as paid off and closed instead of transferred. 

2. Incorrect reporting of the loans delinquency ( XXXX ). 



Investigation Results XX/XX/XXXX : Experian confirmed : The account remained closed. 

It was transferred to another lender. 

These findings contradict documentation showing that P.R.H.F.A. assumed loan management in XXXX without closing the loan. 



Impact on Credit 1. Credit Score Drop : My credit score fell from XXXX to XXXX, resulting in financial losses of {$6700.00}. 

2. Delays in Resolution : Experian failed to verify the HUD-1 settlement details. 

P.R.H.F.A. failed to notify me of the delinquency despite having my updated contact information. 



Key Concerns and Questions 1. Loan Mismanagement : Why did XXXX XXXX and P.R.H.F.A. fail to update contact information, leading to delinquency reporting? 

Why did Experian report the secondary loan as canceled in XXXX without proper verification? 

2. Reporting Errors : Why was the principal mortgage loan reported as delinquent after refinancing in XXXX? 

Why did Experian not remove the bankruptcy notation after payments resumed? 

3. Resolution Delays : Why did Experian fail to resolve disputes promptly or verify basic documentation ( e.g., HUD-1 settlement )? 

Why did XXXX XXXX fail to notify me of the transfer of loan management to P.R.H.F.A.?