Consumer complaint received 2018-06-06
Company: Seterus, Inc.
State: AL
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Incorrect information on your report
Sub-issue: Public record information inaccurate

Complaint:
In XX/XX/XXXX, my brother, XXXX XXXX XXXX, a borrower from Seterus Mortgage, suffered a home fire. I, XXXX XXXX, XXXX 's brother, was an Alabama XXXX XXXX at that time, and agreed to give XXXX an estimate for his property repairs, and to share contacts with him that could perform the needed repairs. 

At no time did I perform any work during the repair project, other than sharing contacts that could perform the work with my brother. 

XXXX 's home insurance company, XXXX, sent a check for {$25000.00} to Seterus Mortgage. In turn, Seterus, cut a check for the funds, and sent the funds, in increments as the work was completed. XXXX had reported my name as the general contractor for the work, so I endorsed the checks along with my brother XXXX. XXXX was the person who paid all the contractors that I sent to do the work, and has receipts for all the money spent, both on labor and materials. 

In Spring, XXXX, I received a 1099 from Seterus, stating that the {$25000.00} was considered to be my personal income. I immediately contacted Seterus and was informed by a representative that nothing could be located, and to disregard the 1099. 

In XX/XX/XXXX I received a letter from the IRS, expecting me to pay taxes on the money that was erroneously reported by the IRS to have been received by me. 

After speaking to an IRS representative, I was told that I needed to ask Seterus to re issue an amended 10-99, showing that I did not receive this income. 

After being added as an individual that can discuss the account, by the account holders, and numerous phone calls, both individually and on 3-way call I was told that Seterus needed the receipts showing that the money had been used for materials and labor before they could revise the 1099. On XX/XX/XXXX, I overnighted all the needed receipts and called Seterus two days later to confirm receipt. These were receipts that showed all the money spent, both on labor and materials, and showed that I personally received none of the money. I was told at that they had received the receipts that I would receive a letter within 7 days to confirm their receipt and that another 30 days would be required for them to review and make their decision. 

After two weeks when I still hadn't received a letter from them I contacted them again asking about the letter. They answered that the letter had been mailed 10 days prior. 

Today is XX/XX/XXXX and I still have received no letter from them. I contacted Seterus again attempting to resolve this. A representative told me that according to the file he was reading from that my request for a revised 10-99 had been denied by them 3 days ago. Today I still have not received notice of this in the mail. 

I am only authorized to speak with Seterus regarding this issue until the end of XX/XX/XXXX by the mortgage holders. Seterus has not done what they said in regards to sending me mail documenting receipts that I have sent them. If so, I have not received them. I am concerned that this issue be resolved soon as I am only authorized to speak with Seterus by the mortgage holders through the end of this month. If it is not resolved we will have to go through all the " hoops '' to get this extended for me to be able to continue to discuss this issue. The IRS also, was asking that the amended 10-99 be sent to them by the 3rd week of XX/XX/XXXX.

Company response to consumer: Closed with explanation