I've had my mortgage since November of last year. My original mortgage company sold it to US Bank home mortgage. I used a down payment assistance program that is to be pay off when the mortgage is satisfied or refinanced. The problem is US Bank is reporting the assistance with my mortgage to the credit bureaus and the result always shows me owning more. I've argued with them and they said that this is a requirement from the credit bureaus as January 2017. They didn't lend me the money the government program did.. Is this legitimate? I believe this hurting my score because it is showing my balance higher than my mortgage amount.
The DPA you received, it does not show up in public record as a 2nd lien on the home? What does your closing statement say (i.e. how much U.S. Bank paid) and where the DPA went to (ie. the seller or to U.S. bank)?