Reported as 30 Days Late.... when not 30 days late...

[Anonymous]

Just trying to get some opinions on this... I have bank statements to prove my position on when payments were made, drafted, and credited.

In January Mortgage Company XYZ reported to credit bureaus that I was 30 days late even though they received the payment on 25th of the Month, and credited it on the 26th... however they seem to have no "record" of ever reporting this to the bureaus... but yet is magically appeared on my reports.... either way.. the payment was made on the 25th or 26th day.

Then, that same mortgage company reported me 30 days late AGAIN in February... even though they received it on the 25th, but failed to process it until Mar 1st (for reasons unknown to me), which they then reported me as 30 days late.  With February being a short month (28 days), I still would have legally had until March 2nd at 5pm to get them the payment... but their very own records show they processed the payment on Mar 1st.... which would have been 29 days.

While I admit that I was "late" in making the payment, and have no issue payment the "late charges", I do take issue on being reported as 30 days late when the payments were actually received before the 5pm on the 30th day.

I have made several calls to the company, and written letters to all the bureas contesting this... and have also sent the mortgage company a 30 day notice of intent to sue because of their inaccurate reporting.

Does anyone have any opinions on this...

[llecs]

When are your due dates? The first for that month?

Going back, did you pay by the first of December for December? If not, were there any late fees and did you pay those by December 30? Likewise, for the late fees, did you pay by January 30 for January? Even though you made a payment by the 30th day, you would have had to pay the late fees too. If not, I'm guessing they can mark you late because it wasn't paid in full. Going to the extreme, this is the issue folks have with home modifications. They are paying what they are told to pay on time, but because it was less than the org. agreement at time of closing, then the lender will report lates.

[Anonymous]

The due dates are the 1st, with a grace period until 15th before late fees accrue. The late fees according to my agreement are seperate (AZ law does not permit adding late fees to a payment amount, they can only hold you to the "actual payment amount" )... Yes. the December payment was made before the 15th of the month.

So this has nothing to do with late fees.... (I asked them this.. and they confirmed)

Yes, the January payment was made by the 30th, they received it on the 25th, and credited it on the 26th.

When I make my payment I pay the full amount due (whatever the statement says... and if I have some of the late fees I pay those as well with a seperate check and note stating what its supposed to be towards) even though my agreement says "X dollars for payment" , it seems to fluctuate monthly...which is odd since I have a fixed rate... though I never actually followed up on why it fluctuates.

Hope that helps...

[llecs]

What defense are they offering as to why the lates are there?

Could the varying amounts on the fees be due to a percentage of the payment or interest up through the payment date? I just closed on a mortgage and noticed my fees would vary if I paid late.

Bumping for others.