I defaulted on my Countrywide, next Bank of A, now BoNY`Mellon mortgage on 5/2009. For various reasons, the servicer did not file for F/C until August, 2011 and with lost documents and record keeping issues, including double force-placed insurance, I am still in the house. The mortgage fell off all 3 credit reports in Feb 2016. I have resolved all other credit issues and now have a hard-fought FICO avg of 830.
The F/C referee submitted an erroneous report but I can deal with the insurance under CFPB statutes later. However, I wish to negotiate the interest rate of the offered Modification from 5.5% to 2.0%, which is what the 30 other modified loans in this junk bond CWAB portfolio have received. However, I don't know if the loan will report as 120/180 or whatever past due and ruin my credit again and if I can put into a mod contract that they will suppress the reporting or report payments as paid in full as billed. There is also some speculation if it will report at all as it has fallen off my report entirely for some time. I know that CD is a new CDIA reporting code for modified loans under other comments (vs CA which indicates a short payment). Does anyone know what this will report as or if it will report at all? Can I put into the mod contract that they will suppress reporting for the trial period or report as CN? Does anyone know what CN stands for? Or how it actually affects your credit score wise? I need some help here. CFPB has indicated that they can only refer me to their dual tracking and force placed insurance dictates on their website. I don't think that this is AG material but it is beyond my investigative reporting. Thank you!
