Consumer complaint received 2017-11-29
Company: WELLS FARGO & COMPANY
State: NC
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
Wells Fargo is reporting late payments for the months of XXXX, XXXX & XXXX XXXX when in fact the payments were made as agreed. 

Here is a summary of the documentation and reason for dispute. 

In XXXX of XXXX I contacted Well XXXX to refinance my home but could not because our home value is still too low and I was advised to contact the Home Preservation Dept about a modification to reduce the interest rate. I began working with the representative of XXXX who approved a trial period of 3 months which would lead to an interest rate reduction. 

I received a payment agreement on XXXX XXXX XXXX with an arrangement of 3 payments of {$2600.00} for the months of XXXX, XXXX & XXXX XXXX. Upon completion a loan modification would be completed. Complete copy of the Mortgage XXXX XXXX Notice Document included. 

For the months of XXXX, XXXX & XXXX of XXXX payments were phoned in as directed and on time. A copy of the account payment history has been included in the file. Also included in the file is a copy of personal bank statements to substantiate the payments made on time. 

Payments for the trial period were made on time and the modification to rate reduction was approved. Its worth noting that we have never been late on our payment and would not have qualified for the modification had we missed a payment during the process. 

Because the payments for XXXX, XXXX & XXXX XXXX were set by Wells Fargo that is the amount paid. Therefore there is no justification to consider any payments late. 

When I found out about the late payment reporting in XXXX XXXX I contacted Wells Fargo customer service. They reviewed my information but informed me they were reporting the payment history correctly. I made several attempts at several levels since XXXX to resolve this issue but have been told the payments made in XXXX, XXXX & XXXX dont count because they were not the amount on my original note even though it was the payment they established for the trial period of the modification. 

The last representative I spoke to insisted to me the dated XXXX XXXX, XXXX stated that they would report my payments late. We went over this document together but she was unable to point out to me where it stated that making the agreed payments to the trial period would result in a 30 day late payment to the credit bureaus. 

Because it was never explicitly disclosed that making the trial period payment as set forth by the mortgage company would in turn cause a late payment, the late payment history should be removed from my personal credit report. 

Please remove the late payments being reported to my credit report for the months of XXXX, XXXX & XXXX XXXX Thank you for your time and consideration in resolving this error XXXX XXXX

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