How should the new note & mortgage servicer report the loan on the credit report ?

Question

History... Default on a modification to original note and mortgage with same lender/service provider that was made (the modification) after Chapter 7 bankruptcy discharge and never reaffirmed, no further monetary liability to signer on the note. After the modification default the loan is transferred to a new loan servicer. The trade lines continue to report CH7 status from the original loan service provider, closed account, 0 balance, etc. from the original servicer of the loan, nothing from the new servicer. A second modification is attempted via the new loan servicer and denied, After the modification denial, co-signer files CH 7. The signer on the note and mortgage quitclaims the property to co-signer.  Then the foreclosure process starts with the new loan servicer and the new loan servicer places a new trade line on the signer's credit report showing foreclosure status, account open, late, account balance shown, etc. During the foreclosure process with the new loan servicer  the co-signer files a CH 13, which is approved by the courts and the case is now closed. Regarding the signer of the note and mortgage, (not the co-signer), I thought the new loan servicer would have to report the loan on the credit report just as the prior original servicer did,  CH7 status, closed account, 0 balance, etc. I’m trying to make sense of how this is supposed to be reporting from the new loan servicer for the signer of the note and mortgage who quitclaimed the property. Thanks

Answer 1

Localization does not change any of the data or text objects that you created on the report.  It will change special fields and tooltips that are a part of the viewer.  I believe it might also change the formatting of dates and numbers.  Anything more than that is translation not localization.