Consumer complaint received 2019-02-17
Company: PENNYMAC LOAN SERVICES, LLC.
State: GA
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: Difficulty submitting a dispute or getting information about a dispute over the phone

Complaint:
I have reason to believe that Penny Mac and XXXX XXXX XXXX are committing fraud and have violated my rights with the Fair Credit Reporting Act as well as have violated my rights with the Home Affordable Act Modification Program. I have contacted both mortgage companies several times regarding an explanation with why my mortgage payments were not disbursed as agreed upon in my Home Modification agreement or why the terms have not been followed and I am either told to speak to the other mortgage company, my requests are disregarded or I am given incorrect information. I have filed several disputes with all three credit agencies regarding XXXX XXXX XXXX failing to report the trial payments of my Home Affordable Modification from XX/XX/XXXX to XX/XX/XXXX and XXXX XXXX XXXX has failed to correctly report that I ever made any trial payments or ever had a government loan modification agreement.XXXX XXXX XXXX has also failed to update my credit report to current as stated by section XXXX, XXXX and XXXX in the Home Modification Program Guidelines to report me as current once I successfully completed the trial payments and loan modification. Per the XXXX XXXX XXXX XXXX XXXX guidelines my mortgage with both mortgage companies are supposed to report to all credit bureaus current under government loan modification. In XXXX I signed a deferment agreement with XXXX XXXX XXXX to not have to make any payments while under hardship.XXXX XXXX XXXX   has not noted any of this on my credit report. It simple looks like I irresponsibly went months without paying my mortgage and then it says account sold. Penny Mac has also failed to update my credit report with the correct information. Penny Mac states that they will continue to report my credit report with being 120 days simple because that is what XXXX XXXX XXXX  has reported to them. But again once my loan began the permanent loan modification XXXX should have updated my credit report to current under government loan modification and they failed to follow the guidelines. Both mortgage companies are for the same mortgage loans and no late payments are to be reported any longer on my credit report under the Home Affordable Modification guidelines being that I have successfully completed my trial payments and was than officially in the permanent loan modification, but both mortgage companies have complied with the federal guidelines. Also the amount of my mortgage payment is incorrect. According to my signed agreement of my Home Affordable Loan Modification agreement with XXXX XXXX XXXX  no late fees were to be assessed during the FHA trial period but according to my statements a large portion of my trial payments actually went towards late fees. Both mortgage companies have also violated the terms of my Home Affordable act modification by failing to lower my principle balance as signed and agreed upon in my Home Affordable Modification agreement.In addition to both mortgage companies have also violated the agreement by failing to forgive my principle under the section Principal Reduction Alternative option as stated on my Home Affordable Modification agreement. In addition, Penny Mac violated my agreement by raising my interest rate instead of lowering my interest rate as originally stated in my original agreement with XXXX XXXX XXXX. I was paying 4.250 % with XXXX XXXX XXXX  and signed to have my interest rate reduced as per the terms of the Home Affordable Act Modification guidelines. Instead of lowering my interest rate below 4.250 % as I originally signed and agreed upon on my Penny Mac instead raised my interest rate to 4.375 %. Penny Mac has communicated in writing that I have successfully completed my trial payments in XX/XX/XXXX and that my loan was in the process of having a permanent loan modification when the loan was transferred. According to federal guidelines whenever a loan is sold in the middle of a permanent loan modification the new loan company has thirty days to complete the loan modification application. Penny Mac failed to follow those guidelines and did not complete the final application until XX/XX/XXXX according to the Penny Mac representative and Penny Mac did not make the permanent modification official until XXXX XXXX. My escrow balance with Penny Mac has also been miscalculated. Penny Mac states that the mortgage company justification for raising my mortgage now a second time in XXXX to {$910.00} a month is due to XXXX XXXX XXXX  under charging me for my escrow account in XXXX. Penny Mac than states that my property tax was raised again in XXXX, however, when I contacted the XXXX tax commissioner I was advised that Penny Mac is committing fraudelent activity by changing my escrow yet again because my property tax actually decreased for XXXX. The purpose of the Home Affordable Modification was to lower my monthly payment so that my payments could be more affordable for me. Instead I am paying almost {$200.00} more a month than when I originally had the loan. I went from paying {$720.00} a month to XXXX a month. Only by calling in and asking for a accurate analysis of my escrow was my mortgage even lowered down to {$880.00} a month. Apparently I was told the system did the wrong projection for XXXX, but that I still have to pay more because I was uncharged in XXXX and XXXX.I am requesting to have the principal reduction and interest rate reduction that I originally signed and agreed to in my Home Affordable Modification agreement. I am also asking to have all the terms of my Home Affordable Modification followed including removal of the late fees during my trial period. I am also asking for both mortgage companies to follow the guidelines of the Home Affordable Modification Program and to report my mortgage as current removing the late fees .I am completed my trial payments successfully. I have not only paid for my mortgage on time every month, but continued paying my mortgage even after my trial payments and during the seven months that my loan waited to go into the permanent modification that I was supposed to have already began in XX/XX/XXXX according to my loan agreement. I worked to hard and have come to far to reported incorrectly and to be treated unfairly.

Company response to consumer: Closed with explanation