Failure by Pennymac to report on-time payments to credit bureaus
PennyMac took over servicing of our loan in September, 2014, and has not reported one single payment that I've made. Every payment due on our loan has been on time since we bought this home in 2012.
They are not reporting on my wife's behalf due to her BK7 in 2013 because they "never received a reaffirmation letter", although they did receive a Letter of Intent. According to PennyMac they are going to report on my credit only, never on my wife's for the life of the loan. It hasn't happened yet. I personally have been denied increases on existing credit accounts due to lack of real estate loan reporting.
I am currently in search of legal advice.
Reason of review: Problems with payment.
Preferred solution: Get reaffirmation letter to wife's attorney that should have been provided by lender in the first place, and get payment history reported to bureaus.
Pennymac Cons: Their service and procedures.
Location: Pollock Pines, California
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