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Mortgage Loan Reporting Old and New Company in Error (I Think) - What Do I do?

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Anonymous
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Mortgage Loan Reporting Old and New Company in Error (I Think) - What Do I do?

My original mortgage loan was with a company called Leader and opened about 10 years ago. There is some negative history.  My mortgage loan was then sold to USBank Home Mortgage between 2002 -2004 (not sure exactly when).  I happened to notice that Leader is not reporting on EQ (thank goodness), however Leader AND USBank are reporting on EX and TU. Both are showing the same open year, but do show different time frames for payment history. However on EX, it shows the original loan being open two months late (May versus March) and it has USBank with an earlier open date.
 
Should both of these be reporting? If I dispute, would I dispute as duplicate information; inaccurate information; obsolete; not sure what category. Or, am I just lucky Leader is not reporting to EQ?
Message 1 of 4
3 REPLIES 3
Anonymous
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Re: Mortgage Loan Reporting Old and New Company in Error (I Think) - What Do I do?

any ideas
Message 2 of 4
BungalowMo
Senior Contributor

Re: Mortgage Loan Reporting Old and New Company in Error (I Think) - What Do I do?

My original mtg co & the new are both on my report.  The original notes as sold to another lender in Dec.  They are, in essence, two loans, so both will report.  Maybe you can GW the original & ask to have neg's removed. 
 
Is your newer lender showing the neg's from the old??  If so, I'd definately write them about removing that as those payments were not made to them.  Late or otherwise.
BK 7 discharge 06.24.2020 No Fico score at all. Smiley Sad
Message 3 of 4
Anonymous
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Re: Mortgage Loan Reporting Old and New Company in Error (I Think) - What Do I do?

We have the same situation on our report.. only two cars, but four car loans reporting.
The first car, we refi'd with our CU within 3 weeks of purchase. Both show, with the original loan showing PIF.
The second car was financed through a company that would bought out by Americredit after about 5 months. Both show on that, too, with the original showing PIF.
 
As I understand, as long as the original loan shows $0 bal, and the second loan has the original open date of the first loan, it's fine.
Message 4 of 4
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