Consumer complaint received 2021-07-10
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: MEDALLION MORTGAGE COMPANY (TX)

In XXXX, I signed a contract with Medallion Bank for an installment loan based upon creditworthiness and a credit score. Payments were/are made to the servicer XXXX  on time. This loan was initially reported as an installment loan on all credit reports, however, In XX/XX/XXXX, Medallion placed a lien on my property without my knowledge and without any notification to my address at XXXX XXXX XXXX XXXX, XXXX, TX. XXXX. Upon contacting Medallion on several occasions, I have now learned that this debt is being reported as a secured home improvement loan which is directly affecting my credit scores and my ability to refinance my home and is seen as REAL ESTATE which increases my REAL ESTATE debt and decreases the over {$27000.00} Ive paid to my mortgage company XXXX XXXX XXXX XXXX. 

Medallion has lifted/terminated the lien but Medallion is STILL reporting this installment loan as a secured home loan after issuing a termination of the lien. This termination has been filed with my county deeds office. I have reached out to XXXX XXXX XXXX customer service manager ) and XXXX XXXX XXXX VP and Credit manager ) trying to understand how the lien is lifted but the loan is still being reported as a SECURED HOME LOAN. 

On XX/XX/XXXX, and XX/XX/XXXX, Medallion did an inquiry into my XXXX  credit as they did not have a reason and/or purpose for this inquiry. The reasoning has changed from, there were lates on the account we got wind that a pending divorce and the property was being sold it was never 30 days late only slow to the account was in collections and we couldnt contact you. 

On XX/XX/XXXX, a copy of my credit reports from XXXX, XXXX, and XXXX  was requested by and sent to XXXX XXXX XXXX VP and Credit manager ) to show that this lien was being reported as real estate. I have not gotten a response from Mr. XXXX as of XX/XX/XXXX. 

On XX/XX/XXXX, an email was sent to Mr. XXXX XXXX asking why Medallion needed to access my credit files on XX/XX/XXXX, and XX/XX/XXXX, and I did not receive a response. 

On XX/XX/XXXX, XXXX XXXX XXXX sent a copy of the termination of lien, with only the name of one account holder. This was filed with my county clerks office. 

On XX/XX/XXXX, after contacting Mr. XXXX as to why its still being reported as secured, Mr. XXXX XXXX sent a copy of a new termination of lien with both account holders, however, he indicated that he did not understand why its affecting my credit and that I should contact the servicer of the loan, XXXX  as well as contact XXXX XXXX XXXX portfolio manager Medallion Bank ). 

On XX/XX/XXXX, XXXX XXXX, I received an email from Mr. XXXX XXXX XXXX senior portfolio manager at Medallion Bank ), asking for a copy of my credit report to see how this is being reported and that he would do a snapshot into my credit reports. The same copies sent to XXXX XXXX XX/XX/XXXX, was forwarded to Mr. XXXX on XX/XX/XXXX. Mr. XXXX also asked for the name of my mortgage company whom I am using to refinance my property Medallion Bank is the owner of the loan and contacting the servicer does not remedy this situation nor does Mr. XXXX contacting my mortgage company or looking into my credit reports AGAIN without consent. The problem is the way Medallion is reporting this installment account to all three credit bureaus. This installment loan has NEVER been late, therefore Medallion should not have placed a lien. 


Prior to sending my credit reports to Medallion, XXXX XXXX XXXX VP and Credit Manager ) only XXXX  was reporting this as a secured home improvement loan. Now, all credit agencies are reporting this installment loan as a SECURED home improvement loan.