Consumer complaint received 2023-11-06
Company: Experian Information Solutions Inc.
State: MO
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I REQUESTED A XXXX  ON XXXX AND THE COMPANY REPILED, THEY CAN NOT GIVE ME THE INFORMATION I REQUESTED AND KEPT REPORTING LATE PAYMENTS AND ACCORDING TO THE LAW I HAVE A RIGHT TO REQUEST ANY INFO I HAVE ABOUT MY LOAN. THEY ARE NOT SUPPOSE TO REPORT ANY INFORMATION TO THE CREDIT REPORTING ANGENCY UNTIL THE INVESIGATION IS COMPLETE FOR 60 DAYS THEY HAVE VIOLATETED MY RIGHTS AS A CONSUMER. 12 USC 2605 SERVICING OFMORTGAGE LOANS AND ADMINISTRATIONS OF ESCROW ACCOUNTS. 
( XXXX ) Duty of loan servicer to respond to borrower inquiries ( XXXX ) Notice of receipt of inquiry ( A ) In general If any servicer of a federally related mortgage loan receives a qualified written request from the borrower ( or an agent of the borrower ) for information relating to the servicing of such loan, the servicer shall provide a written response acknowledging receipt of the correspondence within 5 days ( excluding legal public holidays, XXXX, and Sundays ) unless the action requested is taken within such period. 
( B ) Qualified written request For purposes of this subsection, a qualified written request shall be a written correspondence, other than notice on a payment coupon or other payment medium supplied by the servicer, that ( i ) includes, or otherwise enables the servicer to identify, the name and account of the borrower; and ( ii ) includes a statement of the reasons for the belief of the borrower, to the extent applicable, that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower. 
( XXXX ) Action with respect to inquiry Not later than 30 days ( excluding legal public holidays, XXXX, and XXXX ) after the receipt from any borrower of any qualified written request under paragraph ( XXXX ) and, if applicable, before taking any action with respect to the inquiry of the borrower, the servicer shall ( A ) make appropriate corrections in the account of the borrower, including the crediting of any late charges or penalties, and transmit to the borrower a written notification of such correction ( which shall include the name and telephone number of a representative of the servicer who can provide assistance to the borrower ) ; ( B ) after conducting an investigation, provide the borrower with a written explanation or clarification that includes ( i ) to the extent applicable, a statement of the reasons for which the servicer believes the account of the borrower is correct as determined by the servicer ; and ( ii ) the name and telephone number of an individual employed by, or the office or department of, the servicer who can provide assistance to the borrower ; or ( C ) after conducting an investigation, provide the borrower with a written explanation or clarification that includes ( i ) information requested by the borrower or an explanation of why the information requested is unavailable or can not be obtained by the servicer ; and ( ii ) the name and telephone number of an individual employed by, or the office or department of, the servicer who can provide assistance to the borrower. 
( XXXX ) Protection of credit rating During the XXXX period beginning on the date of the servicers receipt from any borrower of a qualified written request relating to a dispute regarding the borrowers payments, a servicer XXXX not provide information regarding any overdue payment, owed by such borrower and relating to such period or qualified written request, to any consumer reporting agency ( as such term is defined under section 1681a of title 15 ).

( 4 ) Limited extension of response time The 30-day period described in paragraph ( 2 ) may be extended for not more than 15 days if, before the end of such 30-day period, the servicer notifies the borrower of the extension and the reasons for the delay in responding. 
( f ) Damages and costs Whoever fails to comply with any provision of this section shall be liable to the borrower for each such failure in the following amounts : ( XXXX ) Individuals In the case of any action by an individual, an amount equal to the sum of ( A ) any actual damages to the borrower as a result of the failure; and ( B ) any additional damages, as the court XXXX allow, in the case of a pattern or practice of noncompliance with the requirements of this section, in an amount not to exceed {$2000.00}. 
( XXXX ) Class actions In the case of a class action, an amount equal to the sum of ( A ) any actual damages to each of the borrowers in the class as a result of the failure; and ( B ) any additional damages, as the court XXXX allow, in the case of a pattern or practice of noncompliance with the requirements of this section, in an amount not greater than {$2000.00} for each member of the class, except that the total amount of damages under this subparagraph in any class action XXXX not exceed the lesser of ( i ) {>= $1,000,000} ; or ( ii ) XXXX percent of the net worth of the servicer. 
( XXXX ) Costs In addition to the amounts under paragraph ( XXXX ) or ( XXXX ), in the case of any successful action under this section, the costs of the action, together with any attorneys fees incurred in connection with such action as the court XXXX determine to be reasonable under the circumstances. 
( XXXX ) Nonliability A transferor or transferee servicer shall not be liable under this subsection for any failure to comply with any requirement under this section if, within 60 days after discovering an error ( whether pursuant to a final written examination report or the servicers own procedures ) and before the commencement of an action under this subsection and the receipt of written notice of the error from the borrower, the servicer notifies the person concerned of the error and makes whatever adjustments are necessary in the appropriate account to ensure that the person will not be required to pay an amount in excess of any amount that the person otherwise would have paid. 
( g ) Administration of escrow accounts If the terms of any federally related mortgage loan require the borrower to make payments to the servicer of the loan for deposit into an escrow account for the purpose of assuring payment of taxes, insurance premiums, and other charges with respect to the property, the servicer shall make payments from the escrow account for such taxes, insurance premiums, and other charges in a timely manner as such payments become due. Any balance in any such account that is within the servicers control at the time the loan is paid off shall be promptly returned to the borrower within 20 business days or credited to a similar account for a new mortgage loan to the borrower with the same lender.

( h ) Preemption of conflicting State laws Notwithstanding any provision of any law or regulation of any State, a person who makes a federally related mortgage loan or a servicer shall be considered to have complied with the provisions of any such State law or regulation requiring notice to a borrower at the time of application for a loan or transfer of the servicing of a loan if such person or servicer complies with the requirements under this section regarding timing, content, and procedures for notification of the borrower. 
( i ) DefinitionsFor purposes of this section : ( 1 ) Effective date of transfer The term effective date of transfer means the date on which the mortgage payment of a borrower is first due to the transferee servicer of a mortgage loan pursuant to the assignment, sale, or transfer of the servicing of the mortgage loan.

( 2 ) ServicerThe term servicer means the person responsible for servicing of a loan ( including the person who makes or holds a loan if such person also services the loan ). The term does not include ( A ) the XXXX XXXX XXXX XXXX or the XXXX XXXX XXXX, in connection with assets acquired, assigned, sold, or transferred pursuant to section XXXX ( c ) of this title or as receiver or conservator of an insured depository institution ; and ( B ) the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, in any case in which the assignment, sale, or transfer of the servicing of the mortgage loan is preceded by ( i ) termination of the contract for servicing the loan for cause ; ( ii ) commencement of proceedings for bankruptcy of the servicer ; or ( iii ) commencement of proceedings by the XXXX XXXX XXXX XXXX or the XXXX XXXX XXXX for conservatorship or receivership of the servicer ( or an entity by which the servicer is owned or controlled ). 
( XXXX ) Servicing The term servicing means receiving any scheduled periodic payments from a borrower pursuant to the terms of any loan, including amounts for escrow accounts described in section 2609 of this title, and making the payments of principal and interest and such other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the loan. 
( j ) Transition ( XXXX ) Originator liability A person who makes a federally related mortgage loan shall not be liable to a borrower because of a failure of such person to comply with subsection ( a ) with respect to an application for a loan made by the borrower before the regulations referred to in paragraph ( XXXX ) take effect.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation