Consumer complaint received 2023-07-16
Company: Idaho Housing And Finance Association
State: TX
Product: Mortgage
Sub-product: VA mortgage
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Dear Sir/Madam, I am writing to file a formal complaint against [ Homeloan Service/Idaho Housing and Financial ] , regarding their violation of the Fair Credit Reporting Act ( FCRA ) in relation to the reporting of a late payment to the credit bureaus in the month of XXXX. I have gathered sufficient evidence, including email correspondence, to support my claim and demonstrate that the late payment was a result of system errors with their website. 

I have been a responsible and diligent customer of [ Homeloan Service ] for [ duration ]. Throughout my tenure as a customer, I have always made timely payments and maintained a good credit history. However, in XXXX, I was surprised to discover that [ Homeloan Service ] had reported a late payment to the credit bureaus, which has negatively impacted my credit score and creditworthiness. 

I have attached copies of the email correspondence between myself and [ Homeloan Service ], which clearly indicate that the late payment was not due to any fault of my own, but rather a result of system errors on their website. These errors prevented me from making the payment on time, despite my repeated attempts to do so. Upon notifying [ Homeloan Service ] of the issue, they promptly acknowledged their mistake and rectified the late payment by updating the credit bureaus accordingly. 

I believe that the actions of [ Homeloan Service ] are in direct violation of the FCRA, which mandates that accurate and timely reporting should be observed by creditors. By reporting an inaccurate late payment, [ Homeloan Service ] has caused significant damage to my creditworthiness and overall financial standing. This erroneous reporting has not only affected my ability to secure future loans or lines of credit but has also subjected me to undue stress and inconvenience. 

I kindly request the Consumer Financial Protection Bureau ( CFPB ) to thoroughly investigate this matter and take appropriate action against [ Homeloan Service ] for their violation of the FCRA. I believe that such actions should include the immediate removal of the late payment from my credit report and any necessary penalties imposed upon [ Homeloan Service ] to ensure compliance with federal regulations. 

I appreciate the CFPB 's commitment to protecting consumer rights and ensuring that financial institutions abide by the law. I trust that the CFPB will conduct a fair and thorough investigation into this matter and take the necessary steps to rectify the damage caused by [ Homeloan Service ] 's negligence.

Enclosed with this letter, you will find the following documents for your review : 1. Copies of email correspondence between myself and [ Homeloan Service ], clearly indicating their acknowledgement of the system errors and their subsequent correction of the late payment.

2. Any additional relevant documentation or evidence that supports my claim.

I kindly request acknowledgement of receipt of this complaint and regular updates on the progress of the investigation. Should you require any further information or documentation, please do not hesitate to contact me at the phone number or email address provided above.

Thank you for your attention to this matter. I look forward to a prompt resolution and a fair outcome from the CFPB.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation