Consumer complaint received 2022-06-09
Company: Experian Information Solutions Inc.
State: MI
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
COVID-19 Loan Modification is reported as Paying partial payment agreement Credit Reports are showing Unknown or Data Unavailable status rather than Current during the duration of the COVID-19 Forbearance The month the Loan Mod was executed shows no data, all later months have incorrect Scheduled Payment amounts which do not match the amount billed ( which is the amount that was paid ) XXXX is reporting XXXX and XX/XX/XXXX as in Forbearance The COVID-19 related protected status does not seem to be reflected from XX/XX/XXXX ( month entered into COVID-19 forbearance ) and XX/XX/XXXX ( first month of COVID -19 Loan Modification Trial Period ) XX/XX/XXXX Phone call with XXXX XXXX XXXX  Agent states we do not report forbearance as current transfers to escalations Escalations Agent believes all information was input correctly on their side reported as current will verify Incorrect scheduled payment amount will dispute XXXX shows forbearance in XXXX & XXXX XXXX will verify Loan Modification is always reported as Partial Payment Agreement Agent believes that only the COVID-19 forbearance is protected under the CARES Act, not the Loan Modification We provided link to FDIC reporting instructions may be outdated Asked to send letters involving forbearance and loan modification 1 to 2 business days Advised to call back XX/XX/XXXX Advised that nothing needed to be submitted in writing XX/XX/XXXX Received letters from XXXX  two documents only. Incorrect Loan Modification and the loss mitigation packet that was not required for COVID-19 impacted loans. I believe that the core issue with the reporting is the same issue we had with the servicer multiple times failure to treat the loan as a COVID-19 impacted loan in addition to data entry errors. 

COVID-19 Impacted Timeline In XX/XX/XXXX, I notified my mortgage servicer, XXXX, that my employer was going to be implementing pay cuts that may affect my ability to make timely payments. On XX/XX/XXXX, I was permanently laid off. I immediately contacted XXXX and was told I would qualify for a COVID-19 forbearance. XXXX informed me that XXXX payment would still be made as scheduled. XXXX payment was also auto withdrawn, though I was told that would not happen. 
On XX/XX/XXXX, a letter was sent outlining the COVID-19 forbearance terms. The first three bullet points are as follows : Payments are suspended for up to 6 months.

Credit will report as current and active on the COVID-19 Forbearance Plan. 
The loan will report to the credit reporting companies as current and active on a forbearance plan. 

This letter outlined {$0.00} payments from XX/XX/XXXX XX/XX/XXXX XXXX XXXX sent monthly emails asking if my income was still affected by COVID-19, which I answered in the affirmative. I was able to make full, timely payments through XX/XX/XXXX. 

In XX/XX/XXXX, I was called by the servicer to ask about my missed payment in XXXX. I informed them of the COVID-19 forbearance plan, which they were able to access after around 10 minutes. 

On XX/XX/XXXX, a letter was sent outlining the XXXX forbearance terms. The first three bullet points are as follows : Payments are suspended for up to 6 months. 
Credit will report as current and active on the XXXX Forbearance Plan. 
The loan will report to the credit reporting companies as current and active on a forbearance plan. 

On XX/XX/XXXX, a letter was sent outlining the XXXX forbearance terms. The first three bullet points are as follows : Payments are suspended for up to 6 months. 
Credit will report as current and active on the COVID-19 forbearance plan. 
The loan will report to the credit reporting companies as current and active on a forbearance plan. 
This letter also outlined the {$0.00} payments due from XX/XX/XXXX XX/XX/XXXX On XX/XX/XXXX, I reached out to the servicer to discuss next steps. At this time, I also added my wife as an authorized representative on the account. The servicer advised that a Mortgage Assistance Application needed to be filled out and submitted ( which I later found to be incorrect as I was XXXX XXXX XXXXXXXX ). That was complete and sent the following morning. 

On XX/XX/XXXX, a letter was sent informing of an approval for a Flex Modification, however the terms were that of a normal modification rather than a Covid-19 Flex Modification ( interest rate at 4.125 % rather than 2.875 % ). My wife called immediately, and after explaining the error multiple times had the issue escalated to a supervisor. 

On XX/XX/XXXX, she was contacted by the servicer to inform us that there was indeed an error, and we would be receiving the Covid-19 Flex Modification details soon. 

On XX/XX/XXXX, a letter was sent outlining the terms of the COVID-19 flex modification. The trial period included three payments of {$1300.00} due on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. 

At some point during the Trial Period, a letter was sent from the servicer notifying me that the loan was delinquent and if I did not contact them the foreclosure process may start. I contacted them immediately, and they told me it was an error and to ignore the letter. 

On XX/XX/XXXX, the Loan Modification Agreement was sent. 

On XX/XX/XXXX, the fully executed copy of the modified loan was sent. 

The payments made during and after the modification trial period are as follow : XX/XX/XXXX : {$1300.00} XX/XX/XXXX : {$1300.00} XX/XX/XXXX : {$1300.00} XX/XX/XXXX : {$1300.00} XX/XX/XXXX : {$1300.00} *** XX/XX/XXXX : {$1300.00} XX/XX/XXXX : {$1300.00} XXXX**This month was a strange number and may be contributing to other issues, but it was the amount listed on the billing statement. 
Currently, the mortgage payments show as Unknown from XX/XX/XXXX XX/XX/XXXX, Current, paying or paid as agreed XX/XX/XXXX, Unknown XX/XX/XXXX XX/XX/XXXX, Current, paying or paid as agreed XX/XX/XXXX - XX/XX/XXXX. The remark on the account is Paying partial payment agreement, nothing seems to be coded as a COVID-19 agreement. 

On XX/XX/XXXX, XXXX alerted me of a Major Derogatory from XXXX XXXX It looks like your account with XXXX XXXX received a major derogatory status. This usually means that no payments have been made to a past-due account for 120 days or longer. 

Experians top-level breakdown is showing one account over 90 days delinquent, which is almost assuredly the mortgage. This mortgage is not nor has ever been considered delinquent, and every payment made since XX/XX/XXXX has been the exact amount listed on the billing statement. Further, my credit report shows that they were not, in fact, reporting the mortgage as current and active on a Covid-19 forbearance plan throughout the forbearance period. 

Again, I am requesting that the payment and delinquency history be modified to current, as set forth in the terms of the COVID-19 forbearance plan, and in compliance with the CARES Act. There should be no late or delinquent payments reported. The payment amount reported after the execution of the loan modification should be the amount that is listed on the billing statement. Paying under a partial or modified payment agreement should be removed, as this was a COVID-19 Loan Modification accommodation.

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