Consumer complaint received 2018-10-29
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem — Problem with personal statement of dispute
Company: SUMMIT FUNDING, INC. (CA)

XXXX of this year we received a notice from you regarding the transfer of our Mortgage to Summit Funding Inc. We were also told by phone, after receiving your notice, there were special instructions to set up auto pay and these would be sent to us. After receiving these instructions we set up Auto Pay. For XXXX and XXXX, we paid by check to make this Mortgage Lender transition period run smoothly. In signing up online, please refer to exhibit A, where the user enters the banking routing number and account number. Once entered the user clicks the box in green marked Check before proceeding. After the information is entered the user can see only the routing number and the last four digits of the account number. The setup also includes other features such as date to pay and other questions. On XX/XX/XXXX we received a letter from Summit Funding to confirm the set up and Summit had established automatic drafting, see exhibit E. In XXXX we noticed the payment was not taken by the second of the month as scheduled and we were concerned the setup was done to close to the Auto Payment date, so we decided to go online and make a manual ACH payment from the Summit Website. That payment completed and acknowledged the next payment was scheduled for XX/XX/XXXX. We had been on auto-payment with our Summit Funding since we bought the home in XX/XX/XXXX with perfect performance. 

We received a letter on XX/XX/XXXX and in the first sentence stating, We have not received a satisfactory response to our previous request for payment or communication regarding the above-listed loan. See Exhibit B. What is this all about, we have received nothing, no letters, no emails, and no communication that we were behind or there was an ACH issue. In the body of the letter, we note we are behind two months. We went online with Summit Fundings website and see nothing incorrect, dates, amounts, loan numbers, and bank information is all correct. We also note payments recorded on time. We go online with XXXX XXXX XXXX and see our online banking indicates no withdrawals. Something is obviously incorrect and not functioning. 

Customer Care not being open Saturday we send an email to Customer Care See Exhibit C. We called early Monday, XX/XX/XXXX and reached Ms. XXXX, she went through our account and all seemed as it should. There are six ( 6 ) digits which are not visible, see Exhibit D. With Ms. XXXX and me reading the digits together there was an extra 1 in the account number. She explained that is why the auto and manual ACH payments did not transfer properly. She deleted the payment method and manually set up the payment method again. At the same time, we asked her to transfer the funds to bring the account current. As a courtesy, she did not charge us the processing fee and withheld the late fee per our request. 

The error exposed that the verification process, set up process, notification process, and communication process provides little in protecting the lender and the client against this type of situation again. Our bank, XXXX XXXX, doesnt provide us with attempted ACH withdrawals, so finding out something is wrong comes long after the situation manifests itself. This situation was not intended or a result of available funds, it was purely a result of an online setup issue the consumer has no control over.