Anthony and Bernidine Valentine bought a residence in Spring Hill, Florida in August of 2006. They live in the home with their minor son.

In November 2006, they sent their mortgage payment in two installments. Both installments arrived before the late payment date. However, Countrywide Home Loans, Inc., now owned or controlled by Bank America, applied the payments to the Valentines'' escrow account, marked them late for the month of November, and reported this false information to the credit bureaus.