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Federal SL servicer changes - when will they report?

ChemE_Bear
Regular Contributor

Federal SL servicer changes - when will they report?

I know a few of us here went through Loan Servicer changes from Cornerstone to FedLoan this year.  My loans were transferred in November and are still not being reported to the credit bureaus by FedLoan. I have made 3 payments through FedLoan (Dec-Feb).  Anyone else seen their loans report yet? 

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chiefone4u
Established Contributor

Re: Federal SL servicer changes - when will they report?


@ChemE_Bear wrote:

I know a few of us here went through Loan Servicer changes from Cornerstone to FedLoan this year.  My loans were transferred in November and are still not being reported to the credit bureaus by FedLoan. I have made 3 payments through FedLoan (Dec-Feb).  Anyone else seen their loans report yet? 


I've had FedLoan as my loan servicer since 2010, when they took over the account from Wells Fargo it took six month's for it to report.

 

During 2020 they updated the account quarterly... my last account update was reported on December 31, 2020 for payments made through November... my payments are due 12th of the month.

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ChemE_Bear
Regular Contributor

Re: Federal SL servicer changes - when will they report?

Wow, that's disappointing to hear!

Fico8 1/20:
Fico8 05/21:
AU:
Message 3 of 4
calyx
Super Contributor

Re: Federal SL servicer changes - when will they report?

Yup, I still haven't seen anything reporting from my Cornerstone to FedLoan move.    
Cornerstone was reported as closed in December (with an 11/6 date).

I assumed that it was because there's nothing *to* report (I'm not paying right now), so I'll be curious to see if ours report at the same time or not (good thing I have another loan to anchor down the installment portion of the scoring mix!)



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