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Our mortgage company (Shellpoint Mortgage) just reported our account 30 days late even though we have proof that the payment was sent electronically from our bank to our mortgage account prior to the due date. We have made our payments through the same account on the same date for 18+ months. What are our remedies? This made my huby's score drop 41 points overnight. Help!
A 30-late is NOT reportable to a CRA, even if not made prior to the billing due date, until at least 30 days past the billing due date. While an argument that the payment was timely might be made, it is not necessary to contest the reporting to a CRA of a 30-day late.
I would file a formal dispute with the CRA, citing the clear policy statement in their common credit reporting manual, the Credit Reporting Resource Guide, that a 30-late is not reportable until the payment has reached at least 30 days after the billing due date. Include documentation of both the billing due date, and of the date paid and credited.
Do a re-fi immediately and get as far away as possible from Shellpoint. They have a horrid BBB rating and are the worst possible mortgage servicing company in the USA.