How long for mortgage to show transferred?

[WoodlandFlora]

Our mortgage loan transferred on 11/1/19. Both the old and new company are reporting and showing the mortgage as open. Thus, it looks like we have double the debt that we do.

How long does it typically take for the prior lender to report the loan as transferred? If we dispute this, do we dispute and say the account is closed? The mortgage is still open, but just with a new lender/servicer. What’s the best way to remedy this?

[GApeachy]

I'd just call your previous lender and ask them to update pdq showing:

As per Experian report (it's similar on Tu and Eq reports as well)

$0 

paid/closed

and status as:

Account transferred

to another office

[WoodlandFlora]

We will probably call. Just weird they haven’t reported transferred and the new mortgage started reporting before it officially transferred.

[GApeachy]

Ours didn't report until 5 months after Wells Fargo quit reporting.  DH's scores took one heck of a dive for those few months.  It'll all work out, just don't app for anything til it's all straight for like two months....well you know that I'm sure.

[WoodlandFlora]

I am hoping we don’t take a hit. It’s just weird the new company started reporting immediately, and the old hasn’t updated since November, but still shows open; not transferred.
So we have twice the mortgage debt we actually do.

[GApeachy]

Dh lost and then gained the 40-50 pts. immediately upon new mortgage company reporting.  That's how I found out they finally did, alert from Exp congratulating his score improvement.  But yeah, call the old lender and ask them to report the updated status and let them know it's tanking your scores and how.  Maybe they'll off cycle for you, but at least clean it up.

[WoodlandFlora]

It hasn’t actually impacted our scores yet, which is nice. Just shows we have a ton of debt which makes me super antsy.