Thread Starter: Anonymous
Title: Re: what would you do
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we report to the credit bureaus. notice of credit reporting is provided at closing
we had a customer who's loans matured - once matured customer wanted to renegotiate terms - both lender and borrower knew the loans went into a delinquent status during this timeframe - all notifications (past due, maturity, SCRA Notice, HUD notice) produced and were provided to the borrower. both lender and borrower were o.k. and not concerned about any of this.
NOW borrower is refinancing another property and found that the loans were reported as late (30 & 90 day lates) this was due to the status during the renegotiation period. They have requested that we change the credit reporting to remove the late reporting.
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