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  1. #1
    Join Date
    Jan 2009
    Posts
    5

    Default Loan Sold in Default - How is it Reported

    Hello,
    Had a 2nd mortgage go into default during short sale, then it was sold to a new lender. 2 months later short sale was finished.

    My question is how this should be reported.
    Currently I have 2 negatives on my report.

    30, 60 from Lender A, then 2 120+ from Lender B(both months they owned it). There is know way to know it's the same loan.

    So, is this expected. Had the loan not been sold there would be 1 negative report from 1 lender.

    It also just didn't seem Lender B reports 120 late when they owned the loan only 60 days.

    Maybe it doesn't make a difference if it would have been reported only 30,60,90, 120+ from Lender A if not sold?

    Thanks for any input.

  2. #2
    Join Date
    Sep 2005
    Location
    California
    Posts
    65,006

    Default Re: Loan Sold in Default - How is it Reported

    If you are indicating that the original lender is reporting the loan up through the date it was sold, and now the new lender is reporting the loan from that date forward, that's normal.

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