Shellpoint Mortgage Servicing Accused of Reporting Inaccurate Credit Information

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New Penn Financial, LLC, which does business as Shellpoint Mortgage Servicing, is facing a proposed class action lawsuit alleging it failed to adequately investigate a plaintiff’s dispute regarding a supposedly charged-off mortgage debt. The man claims his Equifax credit report displayed inaccurate information about a Shellpoint mortgage on which he hadn’t made payments since 2008. According to the suit, the debt should have been reported as charged-off and removed from his credit report “years ago” but was still negatively affecting his credit. The plaintiff allegedly informed Equifax that he disputed the information, but the case claims Shellpoint failed to adequately investigate the dispute after being notified by Equifax. From the complaint:

“Pursuant to the [Fair Credit Reporting] Act, all person [sic] who furnished information to reporting agencies must participate in re-investigations conducted by the agencies when consumers dispute the accuracy and completeness of information contained in a consumer credit report.”