We we transferred to HSBC in summer. Our very first check that was due to HSBC went to the broker, Oak Street Mortgage (as instructed). The check was then forwarded to HSBC, and since it was made out to Oak Street Mortgage (as instructed) HSBC sent the check back to us and we had to write another one.
This threw off our payment schedule and caused us to be late in August.
This is not why they are counting us late. They are counting us 30 days late for August because in September we had to make half a payment, then October we made the September payment larger to cover the rest of the mortgage payment, and the one that was currently due in October.
(This happened because they threw off our payment schedule by sitting on that check that was made out to Oak Street and we then had to write another one to HSBC)
So technically, since we made 1/2 payment in Sept, then the rest in Oct, we were counted as 30 days late ONCE.
This is what HSBC is reporting to all three credit bureaus:
30 days late reported for Sep, Oct, Nov for two of the agencies, and Oct, Nov, Dec for the 3rd agency. This equals seven (7) counts of fraudulent reporting because they reported 30 days late for 3 straight months, plus they reported different months between the 3 reporting agencies. (technically they should have reported once for 30 days late, what they did was report 30 days late for 3 months, so two months were reported false to 3 agencies (6 counts) and one count for reporting different months to one of the agencies.
HSBC reported 30 days late for 3 months in a row back in November and when we noticed this, we contacted them and kept all of our correspondence between them.
We gave them an official respa letter stating they need to fix it.
We have provided HSBC copies of our bank statements showing all payments were made on time, with exception of the partial payment that was made due to them throwing off our schedule by not providing us with billing information until after they sat on that 1st check that was made out to Oak Street Mortgage.
First they said the reason for the 3 months of reporting late, was due to a late payment we never paid. We paid the late payment and they said "This will fix your status and we will update your account, showing no more late payments are due." Also they admitted a "serious mistake" on their part by not informing us of this. We had no idea of the late charge. We paid it (it was a very small amount) and they told us that would fix everything. The credit reports, the new late payments that were suddenly building up on our statements, and we would be back to normal.
Also they were supposed to be paying our taxes and insurance. They never did and we got slammed with a huge tax bill, and paid our insurance out of pocket.
After seeing they have not fixed our credit report, even after the respa letter was sent to them and time expired on it, we talked to them on the phone and they said "We now only show you as 30 days late once in our system"... So everything is current.
Then we received an official letter stating the result of their investigation.
The letter states "We have lost your mortgage files."
Since all of this, we had to refinance and ensure we were not sold back to HSBC, in fear of them doing further damage to my wife's credit.
They have NOT fixed our credit as promised. They have been reporting 7 counts of fraudulent reporting for about 7 months now.
March of this year was the most recent time HSBC has reported the rolling 30 days late over a 3 month period as being "accurate" (note: Oct, Nov, Dec for one bureau and Sep, Oct, Nov to the other two bureaus) in response to our disputes with all 3 bureaus. "Accurate?"
The status of these disputes were updated in March by HSBC as being "accurate" and to this day the status of these disputes for all 3 bureaus state that "the creditor has proved that these remarks on your file are accurate."
7 counts of fraudulent reporting by HSBC are currently on the files of all 3 bureaus as of today.
We have new disputes currently with Equifax and Experian that have a June expiration date, and we are in the process of disputing TransUnion, as well.
But, we feel that we should have to wait that long to get my wife's credit reports fixed, when we have already been told by HSBC that they were going to fix it, (last year) and more importantly that they are only showing 30 days late one time in their system, yet they are still reporting false information to the three credit bureaus.
So yeah, we are suing.
Jeff
Newport News, Virginia
U.S.A.
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