I'm new here and have gained great insight reading all of your messages...thanks for sharing such valuable information. Hopefully, someone in here can advise us as to what route to take. I'll try to make this as short as possible. May 2002 - Current mortgage at CENLAR. Payments are current - never late. May 17, 2002- We received a letter from CTX Mortgage indicated that our mortgage was 3 months delinquent. This was a big surprise, considering our mortgage wasn't even with this company. May 18, 2002 - Called our current mortgage company to find out what was going on. They said our mortgage had been transferred and told me to call CTX. May 18, 2002 - Called CTX and indicated that we never received anything from CENLAR or CTX notifying us that our mortgage was being transferred. The woman said she would look into it and call me back. May 20, 2002 - Received a letter from Chase Manhatten indicating that they would be servicing our loan beginning May 15, 2002. May 20, 2002 - Called CTX and told them we were notified that our mortgage was being transferred to Chase Manhatten. Faxed letter to Loan Rep. at CTX. She calls Chase Manhatten and they tell her they have no such loan number that is listed on the letter they sent to us. May 25, 2002 - Received a letter from our ORIGINAL lender - CENLAR - notifying us that our mortgage was being transferred to CTX as of May 15, 2002. The letter was mysteriously dated April 29, 2002. We never rec'd it until 5/25/02. After many calls to CTX, we were told that our mortgage was indeed with CTX. Anyway, we paid our payments and they said everything was find. Then in August, I get our mortgage check returned saying that we owe 3 months payments and must pay them with certified funds. I called immediately. August 2002 - Called CTX, loan rep. With all of my bank statements in hand, I could prove our mortgage payments were current. After much research, the Loan Rep. discovered that when CTX acquired our mortgage in May 2002, they entered our loan starting date incorrectly. They started our loan in MARCH 2002. So every time we paid a payment, it was 2 months behind according to their system. June payment was considered the April payment, etc. Well, she got that squared away, and we thought we were all set. Now we want to purchase a new home and our mortgage broker pulls our credit report and CTX is reporting us as 90 days late and have not reported since August!!!! I have everything documented and all documents, and in calling CTX, they said I have to dispute it with the Credit Bureau. UUGGGHH!! I'm so frustrated. What can we do? It seems like both our original mortgage (CENLAR) and CTX have screwed up our mortgage transfer BIG TIME. We were never given the 15-day notification, etc. NOw because of their computer entry error, our FICO scores are CRAP. ANY suggestions as to what we can do??? CTX isn't being much help!!!
I used to work for Wells Fargo Home Mortgage, and unfortunately this sort of problem is all to common when loans are bought and sold. My suggestion would be to both dispute with the CRA's AND keep pushing CTX to get their act together. When you dispute to the CRA, be sure to send copies of your proof of payments, etc. CTX is full of it, they absolutely can change your credit report to remove the lates. Don't accept what the first person tells you. Ask for a supervisor. Be careful if they offer for you to speak to a "team leader" or "lead associate" or something of the like... they're just passing you over to the next cubicle. Insist on a supervisor. Most mortgage companies have a special department for resolving customer problems. Don't forget to get EVERYTHING in writing, and get everyone's name and the location they are in (they could have five call centers across the country). Hope this helps!
