I'm from the US and I've recently applied for HELOC refinancing at a much lower rate (-2.00%), but underwriter has decided to deny the application due to a single late mortgage payment made in Jan 2017, which is explained as follows:
In December of year 2016 we received the escrow assessment statement, which stated that from 2017 onward, the mortgage payment would be increased by $14.00. The bank I'm paying the mortgage is within the reasonable distance, so I always go there and personally handout the check to the clerk, who then gives me the receipt and I sleep in piece knowing that the payment was made on-time, but because of one government regulation put in place in recent years, partial payments cannot be posted to the mortgage account, so the bank reported it as a late payment and like a clockwork all three of the credit reporting agencies reporting it as such.
I understand that it is my responsibility to keep track of changes in personal finance, but I'm also a human, who forgets things every once in while; Now because of this single mistake, I'm being punished for the rest of my life.
My question is: what can I do do fix this?
To further expand on the story, after I had made a partial payment (short of $14.00), someone from the bank reached out to me after 15 days over the phone asking for an additional $14.00, which I made immediately, but I do not remember anyone informing me that I was going to be reported for the late payment. Also, the clerk at the bank whom I personally handed out the check didn't inform about the shortage either.
I understand neither the rep. who called me nor clerk at the bank may not be responsible for informing me on anything I've said above.
Update 1: I called the mortgage bank on 4/5/19 and the rep. told me there's nothing they can do. However, I asked for escalation and waiting for next steps...
