Consumer complaint received 2023-08-03
Product: Mortgage — FHA mortgage
Issue: Incorrect information on your report — Account information incorrect
Company: Mr. Cooper Group Inc. (NJ)

XX/XX/XXXX Consumer Financial Protection Bureau Re : Notice of Error Dispute - Account with Mr. Cooper Account Number : XXXX Date of Notice of Error : XX/XX/XXXX Dear Consumer Financial Protection Bureau, I am writing to formally reject Mr. Cooper 's response to my Notice of Error, submitted regarding an erroneous late payment on my credit report. Despite providing evidence to support my claim, Mr. Cooper 's response has been unsatisfactory and contains contradictory information that weakens their position. 

I raised the dispute several times this year after discovering an inaccurately reported late payment on my credit report from Mr. Cooper. This late payment has had a significant negative impact on my credit score and financial standing. To address this issue, I followed the proper procedure and called them several times to no avail. 

In their response dated XX/XX/XXXX, Mr. Cooper contested my claim and failed to acknowledge the error in their reporting. However, since that response, I have uncovered contradictory information within their documents supporting my initial claims that this agreement between Mr.Cooper and me was a forbearance plan, not a repayment plan. I have attached relevant evidence to my initial dispute, which demonstrates that the late payment was an error caused by an administrative oversight on their part. See Attached documents. 
Attachment 1 Mr. Cooper indicates agreement was a repayment plan Attachment 2 Batch report printouts define payments as FORBEARANCE / TRIAL PLAN PAYMENTS. 
By definition, forbearance is not considered a late payment. When borrowers and lenders enter into a forbearance agreement, they agree to modify the payment terms temporarily. During this forbearance period, the borrower may temporarily pause or reduce their regular loan payments due to financial hardship or other unforeseen circumstances. 
Suppose the forbearance agreement is properly executed, the lender agrees to the temporary payment adjustment, and the borrower adheres to the agreed-upon terms. In that case, it should not be reported as a late payment on the borrower 's credit report. Instead, the lender will typically register the account as " current '' or " in forbearance '' during the forbearance period. 
The contradictory information in their response indicates that they are constantly changing their position. Mr. Cooper has modified their rebuttals to my claims several times as to why this 30-day lateness is valid : Information explaining their reasoning is contained in my promissory note. 
This was a repayment plan. 
I made a late payment in XX/XX/XXXX And Finally, I made late payments on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX If there were delinquent payments before XX/XX/XXXX, why were they not included in the forbearance agreement? 
These highlighted and attached discrepancies further bolster my case and provide strong evidence that the late payment report was erroneous. In addition, I have searched their website and the attached correspondence between us, and nowhere does it state my credit will be affected by a forbearance or a repayment plan. 
As a consumer, I have the right to be informed of any pertinent information in writing. 
As a consumer, I have the right to accurate and fair reporting of my credit information. The FCRA explicitly provides for a thorough investigation of consumer disputes, and it is disappointing that Mr. Cooper has not taken this obligation seriously. Their response has not adequately addressed the matter, and it appears they have neglected to properly and diligently review my case. 
Based on new evidence, I urge the Consumer Financial Protection Bureau to intervene and thoroughly investigate this matter to ensure fair and accurate reporting per the FCRA. I request that you compel Mr. Cooper to comprehensively review my dispute and promptly correct any inaccuracies on my credit report. 
Attached with this letter, please find copies of my supporting documentation that indicates the contradictory information within their records. 
I appreciate the Consumer Financial Protection Bureau 's commitment to safeguarding consumer rights, and I trust that you will take appropriate action to resolve this matter satisfactorily. I look forward to a fair resolution and correcting the erroneous late payment on my credit report. 

Don't hesitate to contact me for further information or documentation about this dispute. Thank you for your attention to this matter. 

Sincerely, XXXX XXXX