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Hi all,
My mortgage was transferred to another lender last January and I discovered that the new servicer does not report to the credit bureaus. Apparently, a business needs to pay an ongoing fee to be able to report to the bureaus.
Because of this, my score is not as high as it should be, and I need every last point increase I can get as I'm getting ready to refinance.
I once sent in copies of all my mortgage payment checks to one of the bureaus, along with my monthly statements and they said they could not add them to my report because the lender does not belong to some "credit bureau association".
This seems totally unreasonable; perhaps illegal? Does anyone have any suggestions?
Thanks!
You can call you new lender and ask them why they are not rpeortign thsi to the credit bureau
I do nto know if there is a low which enforces them to do this