What does SENECA MTG mean on my credit report?
Learn about SENECA MTG, an mortgage provider offering loans for financial assistance. Check the impact to your credit report and financial status.
What is SENECA MTG?
SENECA MTG is shorthand for Seneca Mortgage Servicing LLC , with the company name being Seneca Mortgage Servicing LLC Inc
In November 2013, John Anderson became Chief Executive Officer (CEO) of Seneca as General Counsels & Chief Compliance Officers. He was previously Chairman of the Board of Directors since then until July 2107 when he headed the Shareholder Initiative that sold the assets of the company to Wells Fargo bank.
SENECA MTG is a Mortgage Provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Seneca Mortgage Servicing LLC .
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
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⚫ The average high credit balance is $183600.
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⚫ The typical loan duration is 360 months.
The account is classified under the following METRO2 categories:
- ⚫ Real estate
How do I contact them?
Here is the current contact details for Seneca Mortgage Servicing LLC :
Address:
- Seneca Mortgage Servicing LLCBuffalo, NY United States, Canada
Website:
Email:
Phone:
Payments
Seneca Mortgage Servicing LLC offers a variety of payment methods, including credit cards, debit cards, PayPal, Apple Pay, and bank transfers. They are licensed to offer online payments. Customers can also make a payment using a mobile app or a prepaid debit card. There are penalties for late or missed payments.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments over the phone? | No |
| Can I make payments online? | Yes |
| Do they offer a discount for automatic payments? | No |
| Can I make a payment using a mobile app? | Yes |
| Can I make a payment using a prepaid debit card? | Yes |
| Can I make a payment using a wire transfer? | Yes |
Forgiveness and Cancellation
Seneca Mortgage Servicing LLC does not offer loan forgiveness or consolidation. They are a fully-licensed, GSE-approved mortgage servicer that strategically invests in and oversees the servicing of Mortgage Servicing Rights (MSRs).
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
Seneca Mortgage Servicing LLC is a licensed mortgage servicer and does not provide loans. Homeowners assistance is offered and loans can be processed online.
| Question | Answer |
|---|---|
| Can I apply for a loan online? | Yes |
| Can I apply for a loan over a phone call? | No |
| Can I apply for a loan in person? | No |
| Can I apply for a loan using a mobile app? | No |
| Can I apply for a loan with a cosigner? | No |
IdentityIQ Report Example
- This is an example of what this creditor will look like on your IdentityIQ report.
Will this affect my credit score?
Whether this account affects your credit score depends on a variety of factors, such as:
- Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
- Derogatory Markings: If this account has any derogatory markings such as:
Lates, Charge Offs, Collections and others.
However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:
- Account Age: If your account is quite old, then the age of it will positively impact your credit score
- Repayment History: If the account has no
Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.
Can it be removed from my credit report?
Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.
However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.
What is a Mortgage Provider?
A mortgage provider is a financial institution or mortgage bank that offers and underwrites home loans. Lenders have specific borrowing guidelines to verify your creditworthiness and ability to repay a loan. They set the terms, interest rate, repayment schedule and other key aspects of your mortgage. They have the ability to report on your credit profile which will affect your credit score. They also can run hard and soft inquiries which will impact your credit score if not delt with. Mortgage Providers are not perfect and can still make mistakes in their reporting, so if it says that you have missed a payment and you haven’t then if you take the correct action you will be able to remove the late repayment from your credit profile.
How do I remove SENECA MTG from my credit report?
You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.