Consumer complaint received 2022-09-12
Company: Experian Information Solutions Inc.
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I dispute the following information XXXX supplied to XXXX, XXXX and Experian. The XXXX account shows as Derogatory for 30 days in XX/XX/XXXX. 
This item on this account is inaccurate because this loan was transferred from XXXX XXXX XXXX to XXXX Bank, effective XX/XX/XXXX and Federal law states XXXX  can not treat payments received on time by the original servicer ( XXXX  ) as late during the first 60 days after the effective date of the transfer ( XX/XX/XXXX ). This information is also stated in the XXXX welcome letter ( see enclosed welcome letter ). 
On XX/XX/XXXX I closed on the mortgage loan with XXXX XXXX XXXX and set up automatic payments to XXXX to start XX/XX/XXXX in the amount of {$3900.00} per the enclosed XXXX  First Payment Letter and Payment Coupons. XXXX received the first payment on XX/XX/XXXX, which is within the allowed grace period, and forwarded the XXXX payment to XXXX. XXXX received the XXXX payment on XX/XX/XXXX from XXXX and treated it as 'unapplied funds '. 
XXXX received a 2nd payment on XX/XX/XXXX and forwarded on the payment to XXXX. XXXX called me and informed me that I had a new servicer and new place to send payments. I was given the number to contact XXXX. On XX/XX/XXXX I called XXXX to get my account information and to update my mailing address. 
As can be seen in the account notes, I spoke with XXXX and she confirmed two amounts had been received from XXXX but they were not applied to the loan correctly and were considered unapplied funds. We determined the payment amount had increased with the loan transfer based on an increase in the home owners insurance premium. 
On that call on XX/XX/XXXX, I made a payment over the phone in the amount of {$650.00} to complete the two full payments, {$320.00} to be added to the XXXX payment and {$320.00} to be added to the XXXX payment. As of XX/XX/XXXX the account was up to date. 
I have requested numerous times that XXXX Bank have the derogatory item removed as Federal law states XXXX can not treat payments received on time by the original servicer ( XXXX  ) as late during the first 60 days after the effective date of the transfer ( XX/XX/XXXX ). Additionally, XXXX states on the website : You will not be charged a late fee for 60 days, and we will not report your account as delinquent to the credit reporting agencies during the first 90 days following your loan transfer. 
XXXX reported my account in XXXX as 30 days past due which does not comply with Federal law or the XXXX policy for mortgage transfers and this has wrongfully impacted my credit. 
I have and can provide copies of the derogatory item on my credit report, the XXXX First Payment Letter and Payment Coupons, the record of payments made to XXXX, the Welcome Letter I received via email on XX/XX/XXXX, the XXXX 90 day mortgage transfer policy, the legal statute of mortgage servicing transfers, and XXXX  account statements from XXXX, XXXX & XXXX showing the payments received but unapplied which support my request.

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 non-monetary relief