Consumer complaint received 2018-04-20
Company: REGIONS FINANCIAL CORPORATION
State: FL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
In XX/XX/XXXX, I submitted a written hardship letter request for a loan modification to XXXX XXXX in order to reduce my payment to account for rising insurance premiums and taxes and a reduction in my take home pay. Initially, I received a denial stating that my debt to income was too high and that since my payments were always made on time, the requirements were not met even though the financial affidavit submitted reflected otherwise. The following month I received a call from the Loan Modification Department stating that I was eligible for up to a three month forbearance period to reduce my expenses and bring my deficit into a more workable range for the modification. Additionally, I was told that I would not be required to make any payments during this time which would continue into the modification and trial payment period and that once the modification was finalized, the payments for those months would just be added to my new loan balance. Because I had a good payment history, never a late or missed payment, and I requested the modification, showing that I was trying to find a workable solution to prevent any of that from happening, I was told that I qualify for credit protect, meaning that the payments not made during that time would not be reported as past due. Approximately two weeks into the process, my loan counselor resigned from the company and I was reassigned to XXXX XXXX. I submitted all the required documentation and continued through the process. I was told to call every week for an update and to make sure no additional information was needed. When I asked XXXX about the credit protection because I received a credit alert that my payment was reported late, he stated that my initial rep did not set it up and that she did not notate the account fully. Over the next several weeks/months, I spoke to XXXX, XXXX ( XX/XX/XXXX ), XXXX ( XXXX ), XXXX ( XX/XX/XXXX ), XXXX ( XX/XX/XXXX ), XXXX, XXXX, XXXX and XXXX. I received several promises for callbacks, follow-ups, directions on who to talk to and that someone should be able to resolve the issue. On at least one other occasion I was told that a second person ( XXXX ) in the process of resolving the issue had also terminated employment with the company in XXXX. Each time a call in is made or a call out, the line says that the calls are recorded. Each time I made a follow-up regarding the dispute, I inquired as to if the calls are recorded and the notes are not being entered accurately or completely why is it that no one will conduct a complete review instead of giving me the run around? I feel that the process was made complicated and caused unnecessary confusion by Regions assigning a loan counselor to me, who quit a couple weeks into the process and I was only informed of that when I called Regions to follow-up on my request weekly as I was instructed to do. Additionally, most of the time when I called to follow-up thereafter, I had to speak to a different person. The letters that are sent dont even have a specific loan counselors name on them which further supports the lack of accountability. During my trial period, I would make ACH payments by phone to ensure timely receipt, only to later receive a notice that they didnt receive the payment which required me to make additional phone calls. I have since submitted multiple requests, including as recent as XXXX, requesting that my credit reports be updated to delete the late payments that are reflected. Each time, I receive a generic response from someone who simply prints out the history from those months which dont reflect payments made, because of the modification, but doesnt do ANY research, and then sends me a letter stating that I dont qualify to have it corrected. After my modification, I continued to make timely payments until I sold the home in XX/XX/XXXX for the full balance owed. I am trying to get this inaccurate reporting updated because it has arisen as an issue in employment screening, which I had to provide documentation for and I dont want it to be a problem in any future home purchases. I was proactive in ensuring I did not default on my loan, met every requirement, submitted every piece of documentation timely and called weekly to make sure everything was done correctly. Please update my credit reports to delete these late payments.

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