Mortgage Servicers

A mortgage is usually the largest tradeline on your credit report, and the company that reports it is often not the company you borrowed from. Servicers buy and sell the right to collect on loans, and one mortgage can pass through several of them without the debt itself changing. Each servicer that holds the loan furnishes it to Equifax, Experian and TransUnion in its own name. A payment made to the old servicer and never credited by the new one, a transfer notice that arrived after the transfer, an escrow shortage billed as a missed payment, force-placed insurance added to a loan that already carried coverage, a modification applied to the balance but never to the payment history, or a discharged loan still reporting a balance can all surface as a delinquency you did not earn. Two federal schemes overlap here. The Fair Credit Reporting Act governs what a servicer may report and what it must do once you dispute. RESPA and its Regulation X govern servicing-transfer notices, notices of error and requests for information, and bar a servicer from furnishing adverse information about a payment that is the subject of a notice of error for sixty days after it receives one. Below are the mortgage servicers we help consumers with. If yours is not listed, we can still help. Our guide to working with an FCRA lawyer explains how these cases are built and what they cost you.