Consumer complaint received 2022-09-14
Company: WELLS FARGO & COMPANY
State: GA
Product: Debt collection
Sub-product: Mortgage debt
Issue: False statements or representation
Sub-issue: Impersonated attorney, law enforcement, or government official

Complaint:
Because my VA mortgage loan was submitted and accepted into XXXX XXXX XXXX XXXX ( XXXX ) XXXX XXXX XXXX with only the original Deed of Trust ( DOT ) with signature on it from the loan closing on XX/XX/XXXX, which does not reflect that the document had been recorded on on or before XX/XX/XXXX when my loan was accepted by XXXX XXXX XXXX which required that an assignment of the DOT be in the file at the time of acceptance. Because the time frame was not met on s XX/XX/XXXX, the loan was not qualified for the XXXX pooling as never was the date & time stamp recording was attached in the file from XX/XX/XXXX, when XXXX XXXX XXXX ( XXXX ) who was the originator of my Dept of VA mortgage loan and only had until XX/XX/XXXX, to have delivered and recorded the DOT when it was owed a debt, however, that debt stopped on XX/XX/XXXX, when in fact XXXX purchased the VA mortgage loan debt. Now XXXX should have received instructions on what was needed by XXXX in its closing package, which a DOT is an option form that does not have to be recorded ever as long as the originator does not sale the debt, but if the intention is to sale the debt and the purchaser want them they either needs an assignment of the DOT from the originator or assign, or they must have a new DOT signed by the homeowner to have record the DOT. On XX/XX/XXXX, when XXXX sale my mortgage loan and provides XXXX with the closing package the unrecorded DOT is not in effect as it must have been delivered to XXXX XXXX XXXX XXXX XXXX XXXX in order to take affect and is not in effect before it is delivered per XXXX XXXX XXXX  XXXX is still owed the debt but does not have a recorded DOT when the loan is placed into its XXXX XXXX XXXX with the Deed of Trust assignment is required because XXXX is not the originator of the VA mortgage loan. The unrecorded DOT after XX/XX/XXXX, is forever a document that can not be legally recorded because who the power is granted by in my wife and I only granted the recording of the DOT to XXXX who was the owner of the debt until XX/XX/XXXX. As on XX/XX/XXXX when XXXX delivered the DOT to XXXX it like the rest of the world except for XXXX, did not have a financial interest in the mortgage loan and could not place a lien against the property because it had been paid in full on XX/XX/XXXX, and under XXXX XXXX XXXX Holder of Evidence of Debt. The Mortgage Note as it reflects from XX/XX/XXXX through today show a blank endorsement by XXXX which was required by XXXX XXXX to have the loan pool as is a recorded assignment because because the original DOT is signed authorizing XXXX to record the document which set in motion chain of ownership authorization for the powers under the DOT. Wells Fargo Bank has a duty to know the requirements of the XXXX pooling as it is the large mortgage servicer of XXXX pooled loans in the country and has to know that a unrecorded DOT does not authorize anyone anything as it is not recorded and a later recording of the document by a pass owner can not be back date to gain control of the document as XXXX never is owed a debt after XX/XX/XXXX. At point in the life of the loan in the XXXX pooling XXXX taken over as the mortgage servicer had a duty to review the file to ensure completeness of the file as when Final Certification Due, Certification Completion, when the pooling was seized by XXXX and when the Assignment of DOT was recorded that the DOT was invalid due to XXXX status when recording the DOT on XX/XX/XXXX. Now we have a dispute on ownership of the VA mortgage loan debt which XXXX after having MERS act as the nominee for XXXX in violation to XXXX XXXX and violation of MERS own policy where the titling tracking does not start until it first is recorded at XXXX XXXX XXXX XXXX XXXX XXXX , that not done in accordance with XXXX XXXX XXXX and later on XX/XX/XXXX as the assignment is saying that Wells paid value to XXXX when in fact that did not happen and is admitted to by XXXX. XXXX now said it was XXXX XXXX that owned the mortgage loan debt when XXXX has a duty to know that XXXX never can buy or sell a mortgage loan and the fact that XXXX says it was not the owner of the mortgage loan because they can not buy or sell a mortgage loan and are not the investor in XXXX. The confusion is that XXXX who is in physical possession of the Mortgage Note is the owner of this contract but because they did not purchase the debt the mortgage loan fails to work as a valid contract as XXXX XXXX is not owed monies from me and the last holder of the debt was doing so without a Mortgage Note to call the loan due, and stopped existing without the ability to regain the Mortgage Note from XXXX XXXX. So in the end we got monies that are received into my mortgage servicing account that are only suppose to paid obligation I have and not the obligation of XXXX for the debt they incurred as a result of selling an interest in the XXXX XXXX that they created and sold to investors. The mortgage servicing account needs to be audited an all funds received needs to be return to me that occurred after XX/XX/XXXX, when in fact XXXX was declared a " failed bank '' by the FDIC. XXXX must understand they needed a title search done to be able to understand that the original DOT was never valid in the first place as that party recording the DOT " must '' be owed a current debt at the time of the recording and there is no back dating exceptions. Wells Fargo Bank has a reoccurring problem as their staff is not trained to be able to understand the process of Fed Gov Backed Mortgage loans and as in this case if they consulted with a underwriter of the XXXX pooling and knew that failure to record on time stops a mortgage loan from entering the program and or had ever dealt with county recording offices and understand that they don't verify the document but are just trusting the banks to correctly record, but my Mortgage Note which supplied again by XXXX showing the last endorsement was a blank endorsement by XXXX and not endorsement to XXXX meant that there could be no Assignment of Deed of Trust by the so call nominee MERS from XXXX to XXXX as the successor in XXXX was no longer a member of MERS when it stopped existing and the fact that the known Fed Gov agency in XXXX XXXX is not authorized to ever buy or sell a mortgage loan can not then be owners of a sold mortgage loan to XXXX by XXXX that was wrongly admitted into the XXXX XXXX pooling. So if this is what XXXX thinks the processing is were a 22 day late recording of a DOT and no assignment is ever present in the file to show a valid transfer of title, you now understand the cause of the Robo signing against me and why XXXX paid a {$5.00} XXXX penalty to DOJ and 49 States. I am one of the Robo signed victims that XXXX paid a penalty for in XX/XX/XXXX.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation