Showing results for 
Search instead for 
Did you mean: 


New Member


Hello my fellow credit hawks!  i am relatively new on the forums and need advice FAST!  I have several personal and business bank accounts with Bank of America (BOA).  About a year ago, BOA bought out my mortgage and became the new servicer.  then about three months later they integrated all of my accounts so that I could pay my mortgage directly by doing a transfer from my personal bank accounts to the mortgage account.  That was all well and good-the problem started about three months ago when I paid my March mortgage payment using this method.  I make two deductions each month that equal the full monthly amount of the mortgage payment.   I then received a call at the end  of the month and returned that call the next day after i received the message which wasi  think the first of April.  The bank rep informed me initially that they had no record of the payment that i made.  i then gave them the confirmation numbers of the payments and then they "found" them.  however, they stated that they marked the payment as being late because since I didn't make the full payment with my first monthly installment they applied it to miscellaneous late fees of which I was unaware, so when i made the second installment it did not equal my full monthly payment.  After speaking to a supervisor, a BOA manger called me back and told me they made the correction and that everything was corrected in the system including making sure that it did not show up as a late pay on my mortgage.  I said ok and thought that was it.  however, the exact thing happened again in April.  So, I had to spend another hour on the phone with customer service to correct this.  I told them that i would not continue to pay this way, but they assured me that there was no more problem and that they would send out a correction of the negative reference if any was made on my report since they did not know at the time.  Well, last month I get a FICO alert that my score has gone down (for the first time in two years).  After an inital inabiilty to tell me what the problem was, we discovered that BOA reported me as late on three consecutive mortgage payments (where I had not been late since forever).  this caused my FICO score to drop 60 points! I was irate in speaking with the customer service manager and they told me that they would submit a credit correction but that it would take about 60 days.  I was just signing a contract to purchase some rental property, but this cuased my score to drop just below 620.  Is there anything that i can do to quickly resolve this so that i can apply for a mortgage for the investment property?  my only thought was to apply for a mortgage with BOA since they have the info internally and i would have a better job overlooking that because their system would show the timely payments, though I hate to get another mortgage with them given what has happened.  Can you please advise?  sorry for the long post and thanks for you assistance.

Message 1 of 2
Moderator Emerita


Whew! I *puffy heart* paragraphs. Smiley Very Happy


Anyway, I would hold that potential mortgage app over their heads. Tell them that your scores have been impacted by their mistake, and that this needs to be corrected now, not within 60 days, because you're getting ready to buy some real estate, and you had thought about going with BofA for it, but...


They are able to update immediately. This isn't some routine correction that they should put on someone's to-do list. Once they send the correct info, it should show up immediately on Experian, although Equifax and TransUnion might well take up to a week to 10 days to post it, so you might have to do some additional nudging with them, once BofA corrects the info.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.