Consumer complaint received 2021-01-23
Company: AMERICAN INTERNET MORTGAGE
State: DC
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:
At the end of XX/XX/2020 I entered into a forbearance agreement with my mortgage servicer, XXXX XXXX/AIM Loan. This forbearance was a result of a reduction in income from the COVID-19 pandemic. On the date I entered into the forbearance I was a couple days away from being 30 days late on my mortgage. Once I was offered the forbearance, I used the funds intended for my mortgage to cover other expenses. I later discovered that the lender was reporting by account 30 days late every month during the forbearance period. After discovering this, I made one months payment to cover the amount that was due before I began my forbearance period. In XXXX of 2020 I communicated to the servicer that I wanted to end my forbearance agreement and I resumed making payments on XX/XX/2020. However, after checking my credit report I discovered that my servicer continued to report my account as 30 days late even after making the one months payment that was due prior to my forbearance agreement. After speaking with them they told me they would continue to report my account 30 days late until I have repaid the entire lump sum amount that accumulated during the forbearance period or completed the loss mitigation process. As a result, every month I continue to go back and forth with them on documentation for loss mitigation, they continue to report me as 30 days late. Currently, my credit report shows me as 30 days late for every month starting in XXXX of 2020, despite the fact that I paid the amount that was due before the forbearance period and resumed making regular monthly payments in XXXX. Moreover, I was denied a deferral without an explanation or an opportunity to respond. 

The CARES Act provisions of the law state as follows : ( ii ) Reporting Except as provided in clause ( iii ), if a furnisher makes an accommodation with respect to 1 or more payments on a credit obligation or account of a consumer, and the consumer makes the payments or is not required to make 1 or more payments pursuant to the accommodation, the furnisher shall ( I ) report the credit obligation or account as current ; or ( II ) if the credit obligation or account was delinquent before the accommodation ( aa ) maintain the delinquent status during the period in which the accommodation is in effect ; and ( bb ) if the consumer brings the credit obligation or account current during the period described in item ( aa ), report the credit obligation or account as current. 

First, I don't believe I entered the forbearance agreement 30 days delinquent because they gave me approval of my forbearance in XXXX a week before I was 30 days late. Second, I paid the delinquent amount during my forbearance period bringing my account current. To interpret current as also including the amount accumulated during the accommodation period would ne an absurd interpretation of the law.

Company response to consumer: Closed with explanation