Consumer complaint received 2020-02-02
Company: EQUIFAX, INC.
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
On XX/XX/XXXX I submitted a complaint regarding erroneous and illegal charges placed on my mortgage payments by XXXX XXXX  through its agent XXXXe. ( Complaint Number XXXX. ) This is not a supplement to that complaint, but a new matter that I discovered when I spoke by phone on XX/XX/XXXX with a representative from XXXX. 

As mentioned in my XX/XX/XXXX complaint, for the past couple of years, I had a mortgage loan from XXXX XXXX. I always paid on time, in full, by auto-pay. ( See attached Account History. Additional proof of continuous timely payments will be provided upon request. ) The loan was subsequently sold to XXXX in late XXXX. At the time of the change-over, I received a letter from XXXX stating, in pertinent part, that there would be no changes to my mortgage loan account and I need not take any new action. ( See attached letter from XXXX. ) Throughout the course of the loan, I have always made traditional payments that included both principal and interest. However, when speaking to XXXX representative XXXX on XX/XX/XXXX, I learned that on XX/XX/XXXX, my payment was allocated solely to principal, with no interest paid at all. ( See attached Customer Account XXXX XXXX XXXX. ) I never instructed XXXX or XXXX to make such allocation. This was done without my knowledge or consent. 

As a result of this mis-allocation, my loan payment is now considered late - and presumed to be {$6900.00} in arrears. ( See attached Monthly Statement dated XX/XX/XXXX. ) Again, I am not, and never have been, late with any loan payment. This is entirely due to the bank 's error. 

As noted in my XX/XX/XXXX complaint, my credit score has been negatively impacted by the actions of XXXX and/or XXXX. My Equifax score decreased 98 points -- from XXXX to XXXX - in early XXXX. ( See attached screenshot of my credit score. ) I do not know whether the decrease is the result of the additional charges erroneously placed on my account as described in the XX/XX/XXXX complaint, or whether it is due to the misallocation of my XX/XX/XXXX payment. For this reason, I am filing a second, separate complaint to address this matter. 

Also as noted previously, the errors by XXXX and subsequent derogatory credit reports are causing me real damage. As a real estate developer, I need to be able to finance and refinance loans. I have already been declined a refinance due to the negative credit report and, since the problem is due to an allegedly late mortgage payment, I have been told I will not be able to refinance for at least a 12-month period. ( See attached letter from mortgage broker XXXX XXXX. ) This puts my entire real estate endeavor at risk. 

I need to have the bank errors. corrected as quickly as possible and my credit restored so that I can proceed without further harm to my business enterprises. 

Thank you for your anticipated prompt attention to this matter.

Company response to consumer: Closed with explanation