Consumer complaint received 2022-02-23
Company: WELLS FARGO & COMPANY
State: GA
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Wells Fargo Bank in recent days ( XX/XX/XXXX ) loss to class action cases were as with my case they did not grant the customers on of the HAMPs that they were required by the bank 's TARP agreement. As the several thousands of victims from the two case actions who were required by the XXXX XXXX XXXXXXXX XXXX ( XXXX ) to receive amounts from {$6000.00} to {$3000.00} for being denied one of the HAMPs. 

XXXX had self admitted to only XXXX victims from XXXX and the XXXXXXXX XXXX XXXXXXXX found several hundred more victims, and the XXXXXXXX XXXX XXXXXXXX found XXXX more victims. XXXX did not enter information into it's underwriting system correctly and caused foreclosures to occur as with my loan that was protected by the agreement XXXX signed in XXXX when receiving their bailout funds! 

XXXX did not owned my loan but was servicing the loan due to it XX/XX/XXXX servicing agreement with my lender in XXXX XXXXXXXX XXXX XXXX  XXXX ) who authorized XXXX to collect payments and act for them on the mortgage contract, however, XXXX lost the ability to act on the mortgage contract when the XXXX seized the bank and the FDIC declared it a " failed bank ''! As XXXX stopped existing it no longer could extent any authority to entity because it stopped existing and had no rights. 

The problem is that XXXX had no authority to service my loan after XX/XX/XXXX, yet illegally continued to collect payments from me without the ability to act as a servicer of the loan while not having a financially interest entity to disperse the monies too. XXXX states that it was working for XXXX XXXX who it calls an investor of my loan when in fact this is a lie as in letter from XXXX XXXX enclosed in this complaint that explains that XXXX does not buy or sell mortgage loan or is an investors of XXXX XXXX XXXX XXXX XXXX ). 

XXXX knows from all the loans they have placed into it's on XXXX XXXX that XXXX XXXX does not purchase these loans and that UCC3 is used to sign over the Mortgage Notes in blank on every single loan pooled into the XXXX XXXX, as it a requirement of the program. However, what cause a problem in my situation is that I had a XXXX loan that could not be a non-judicial foreclosure due to the fact that XXXX was not the originator of the loan and neither was XXXX and needed to be process through UCC9 to show proof of purchase by XXXX or XXXX when calling the debt due. 

So XXXX knows it violated Nebraska Statutes when delivering and had recorded the Notice XXXX Default and Assignment of Deed of Trust that placed XXXX as the XXXX holder when in fact XXXX never did or could buy the debt for the loan created on XX/XX/XXXX, when the loan was originated by XXXX XXXX XXXX  and sold to XXXX on XX/XX/XXXX and placed into XXXX 's XXXX XXXX XXXX on XX/XX/XXXX. 

The Note clearly shows the blank endorsement after the endorsement from the sale on XX/XX/XXXX. XXXX want the CFPB to believe that XXXX at some point purchased the debt, when the only became the Note owned due to the transferring of the blank Note, however, they must be owed a debt to collect a debt, which US Congress does not authorize XXXX to purchase a mortgage debt. XXXX continue the lie by saying that on XX/XX/XXXX, that it repurchased my loan from XXXX when in fact the foreclosure took place on XX/XX/XXXX, selling the property to Dept of VA, so eliminating a property and eliminating any debt due to the non-recourse clause all lenders are under providing Dept of VA loans. 

What is that on XX/XX/XXXX, is it that XXXX is saying it purchased on that debt when it had not ever extended a mortgage loan or purchased a mortgage loan. Now what XXXX did when collecting the foreclosure proceed and VA Guaranty Fund insurance was to payoff XXXX debt that came from advancement on the securities that banks draw. The debt on my loan stopped existing on XX/XX/XXXX when XXXX could not longer complete their obligation when they stop existing. 

Who in their right mind is claiming to purchase a loan of over {$200000.00} that the property has already been sold at foreclosure sale and the loan stop exiting as due to the requirement of the Dept of VA the agreed upon amount of the foreclosure sale prior to the sale and the VA Guaranty Fund insurance are all that available due to the non-recourse clause. XXXX was required to pay me {$6000.00} after they said they purchased my debt!

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