Consumer complaint received 2023-01-12
Company: WELLS FARGO & COMPANY
State: GA
Product: Debt collection
Sub-product: Mortgage debt
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
Wells Fargo Bank ( Wells ) who has not provided any proof it owned my Dept pf VA loan or is the mortgage servicer for any entity that owned my Dept of VA loan after XX/XX/XXXX, when in fact XXXX XXXX XXXX XXXX  XXXX ) the FDIC declared it a " failed bank ''! Instead of producing a purchase agreement where Wells is saying that XXXX XXXX is the owner of the debt because Wells was the custodian of records, but did on XX/XX/XXXX when as the mortgage servicer to my loan and XXXX XXXX XXXX ( XXXX ) only produced 4 loans with XXXX and did have Deed of Trust ( DOT ) recorded on all 4 but only created and recorded at XXXX XXXX XXXX XXXX XXXX XXXX Assignment of DOTs with the only one not recorded when the loans were sold to XXXX, except for in my case the Assignment of DOT from XXXX to XXXX was not accomplished. This situation was address in the XX/XX/XXXX, Limited Power of Attorney ( POA ) by XXXX XXXX and recorded on XX/XX/XXXX, after Wells was the servicer of my loan starting on XX/XX/XXXX. XXXX. What should have been address was the fact that because there was not complete as there was not Assignment of DOT or at the time of acceptance of my loan into XXXX XXXX XXXX XXXX on XX/XX/XXXX, there was not a DOT or Assignment of DOT included in the acceptance package my loan did not qualify for the XXXX XXXX XXXX pooling. The requirements of the pooling were never met and the loan should not have been accepted and should have been removed from the XXXX pooling. On XX/XX/XXXX, the issue of not providing XXXX the proper documents was address but not recorded at the POA until after XXXX created and had recorded XXXX XXXX Assignment of DOT from XX/XX/XXXX through XX/XX/XXXX. Now there not recorded sale of these XXXX XXXX loans and the possession of the XXXX XXXX blank endorsed Notes does not have purchase agreement with XXXX buying these loans as XXXX is not authorized to buy or sell mortgage loans! So as it was XXXX role as mortgage servicer, which they were acting in that compacity and maintaining the files that were contained in the building Wells purchased from XXXX on XX/XX/XXXX. Different from all the other XXXX XXXX XXXX pooled loans that had assignment recorded before XXXX stopped existing only my loan had an Assignment of DOT handled by MERS and the outside law firm of XXXX XXXX XXXX and it was done on XX/XX/XXXX and recorded on XX/XX/XXXX, at XXXX XXXX. Wells submits the Assignment of DOT claiming that value was paid, as the assignment places Wells in title as the lien holder which Wells is not as it not paid any amount as there no one to pay because XXXX stopped existing not having the ability to sell my loan because the blank Note was the property of XXXX and the separated loan that XXXX owed to the investor of the XXXX XXXX. XXXX holds as hostage the mortgage loans which in order to have a mortgage loan release from the pooling the repayment of the investor loan. As with my case the loan was not paid back in order to foreclose as is required. As only XXXX gave XXXX ownership of the Note but because they don't purchase the mortgage loan debt they are not entitled to an amount against the property. Now because there is this claim by Wells that XXXX is the owner of the loan but that a situation that they are not authorized to do and that XXXX has said they are not the owner of this loan or any other mortgage loan and the fact that there is a valid DOT by XXXX and Assignment of DOT from XXXX to XXXX that becomes the first lien holder actually on XX/XX/XXXX, when it record the DOT as the DOT by XXXX was recorded when the bank did not have ownership of the debt and not Assignment of DOT was recorded. XXXX does not exist after XX/XX/XXXX, and XXXX who sold the loan debt to XXXX on XX/XX/XXXX, and never supplied XXXX with a Assignment of DOT which requires XXXX to report the recording that can not be backdated and provides proof the loan was illegally placed into the XXXX XXXX XXXX. MERS who not acting for XXXX who sold the loan and is not working for XXXX who does not exist and is not longer a member of MERS so there not transfer from current members, as the chain of ownership is broken. MERS actions of Assigning the DOT to XXXX as a sell saying value was paid on XX/XX/XXXX, while ignoring XXXX who not subordinated its position and is why XXXX requires the proof of purchasing the debt is to be present to the court! XXXX not receiving a cent, would have had the ability to modify it loan under XXXX, but should have been able to recovery its total amount as we were the only two parties with a financial interest in my property. Wells only stalls as they done with the bankruptcy customers the since XXXX XXXX, XXXX, illegally foreclosed on families as this bank for over a decade abused XXXX XXXX of its customers as they abused XXXX military families by not accepting XXXX XXXX VA XXXX applications for us. XXXX is XXXX against the men and women that have served this XXXX, as they realize our abilities to match them financially in fighting the crimes of XXXX corporations. Wells had a duty as a servicer to provide the total loss mitigations procedures which were not done in my case or XXXX XXXX of VA borrowers. Let it be known that the CFPB only needs to look at the public records as I did and there are XXXX XXXX XXXX XXXX XXXX Deed of Trust that are not the result of a sale from XXXX to Wells that places the wrong party in a lien position when in fact they are not the " holder in due course ''! As we have theft of the Fed XXXX XXXX XXXX VA, we have as long as these bankruptcy victims to be paid restitution! I been complaining since since this happen to me in XXXX, and I will never stop until restitution is paid to me!

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