VERY disappointed....

[13inOR]

I had noticed that after making about 5 payments to my new mortgage lender that nothing whatsover was showing on my cr. I called today to inquire and was told by the lender that they dont report to credit report agencies. They bought my loan from the original new refi lender, by the way.
I am so disappointed because I have not and do not want to take on any cc's and was counting on my mortgage and auto loan positive history to help bring up my scores. Well I guess thats not going to happen.
Its so frustrating too, because the mortgage payment is a large chunk of change and it would be nice to be getting credit for it. I know that if push comes to shove and we do have to apply for a new loan or refi, we can get our payment history from this lender, but still it is so irritating that it wont reflect in my scores. I know this was a subprime loan because we were in chapter 13 at the time but I wouldnt think they wouldnt report.
We have been very happy with them and their service in every other way and everything seems to be posted correctly,etc.
Oh well I guess its a small problem in the big scheme of things but it was really disappointing.

[FilingOnMyOwn]

That sucks. You could always try to refinance with another lender.

[SinkingFast]

That's aweful, 13inOR!!

Maybe as a protection for yourself, periodically request a payment or transaction history from them that you can keep on file.

Like if you are paying an escrow where the Lender pays Taxes and Insurance. At the end of every year, have them send you a payment history for the year.

Our lender used to send that automatically at the end of every year so maybe yours will do the same anyway.

Be sure and tuck those away some place safe, for future reference. Like when you wanna refi to a traditional, Prime Lender.

At least you learned now and not years down the road from now. So you can do some things to protect yourself.

[13inOR]

I know its dumb but I seriously felt like crying when I found out. I think thats a good idea to get regular print outs. I know the evidence is still there but
I feel ripped off that its not getting reported.

And I plan on refinacing in a year anyway, but still!

[Hot-Tod-E]

Yes, that sucks! But I bet if you miss a payment, they'll be sure to report that! Just like most utility companies, they don't report unless your late, they don't report on-time payments.

Really annoying!!

[JeepMom]

Just make sure YOU keep a recipt/monthly statement proving you have made each and every payment on time.

[13inOR]

I will, thats for sure.

(ps I liked your wedding pics)