Consumer complaint received 2022-05-16
Company: MONEY SOURCE, INC., THE
State: KS
Product: Mortgage
Sub-product: VA mortgage
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
We are currently trying to purchase a new home, however, The Money Source ( TMS ) has incorrectly reported to the credit bureaus that payments were late during the time frame between XX/XX/XXXX to XX/XX/XXXX. During those months, we were in a forbearance and loan modification process under credit suppression meaning that TMS was not to report to the credit bureaus. Unfortunately, TMS had in fact reported payments being late for the months of XX/XX/XXXX through XX/XX/XXXX, when they were not supposed to be reported. 

We just sold the home that we had the mortgage with TMS through and are trying to purchase a new home ( not with TMS ), but when my husband applied for a pre-approval, we were told that TMS had reported that payments were late during XX/XX/XXXX through XX/XX/XXXX. Although we did make the payments, nothing should have been reported to the credit bureaus at all for those months. 

We found this information out on XX/XX/XXXX ( Wednesday ) after TMS business hours. 

- Thursday, XX/XX/XXXX, I called TMS at XXXX XXXX XXXX XXXX XXXX to ask for documents stating that the payments were made and I was told that I would have them sent to me via email as well as a request was being put in to their credit department to have the credit reporting error corrected. I called again at XXXX because I had not received those documents that were supposed to be emailed to me, this time I did received the documents which consisted of a list of payment transactions and the forbearance/loan modification documents that we had previously signed. 

I called again on XX/XX/XXXX at XXXX XXXX XXXX XXXX XXXX because our lender stated that they would like a letter from TMS stating that payments were made or that there was an error in what was reported to the credit bureaus. I was told that a request would be put in so that I could get a letter stating that they incorrectly reported information to the credit bureaus during the months where we were under credit suppression, I was told it would take 24-48hrs. 

On Monday, XX/XX/XXXX I called again at XXXX XXXX XXXX XXXX XXXX to ask about the status of the letter which I never received. It was then that I was told that the credit department sent out a letter to the credit bureaus on XX/XX/XXXX for correction for those XXXX months. I asked for a copy of that letter to be sent to me via email and was told that a request for that letter was sent to have it emailed to me and it could take 24-48 hours. 

I wait till the end of the week ( Friday, XX/XX/XXXX ) to call again because I still have not receive any type of letter and my husbands credit report still was not updated. I called at XXXX XXXX XXXX XXXX XXXX to ask why this is taking so long. Again, I was given the run around that a request was put in for correction as well as a letter and basically I would just need to wait. 

I call again on Saturday, XX/XX/XXXX, at XXXX XXXX XXXX XXXX XXXX to inquire about the letter again because at this point it had been over a week and well over the 24-48 hour time frame that I was given numerous times. In this phone call, I was told a request could be put in to draft a letter stating that during those XXXX months, there should not have been any reporting to the credit bureaus and that TMS has sent letters to the credit bureaus for correction. I was told by this employee of TMS, who was looking in to the account, that the letter only stated to correct ONE month ( XX/XX/XXXX ) instead of the XXXX months that needed to be corrected. This person told me that they put in yet another request to have the entire XXXX months corrected with the credit bureaus as well as a complaint to have the issue looked in to as to why this turned in to such a difficult situation on their end. At this point, I am frustrated, and asked to speak to the supervisor. After being put on hold twice while trying to reach their supervisor, I was eventually told that there was only one supervisor working that day and that they were currently on the phone and would give me a call back. I never did receive a phone call. 

All I am asking for is a letter that I can give to my new lender stating that the payments were made and that corrections are being made/sent to all three credit bureaus. However, I keep getting the run around. I can't ever speak to the same person each time I call. Each person tells me something different. I keep getting told I will get a letter in a certain time frame or a call back and never receive a letter nor a call. This is an issue that stemmed from a mistake that they made and I am having to call multiple times and repeat myself multiple times all to get told that " a request was put it ''. 

Please help me!

Company response to consumer: Closed with explanation