Consumer complaint received 2016-09-07
Company: NATIONSTAR MORTGAGE LLC
State: FL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
The mortgage assignment executed on XXXX/XXXX/XXXX by XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, shows XXXX XXXX purchased both my mortgage & the note for the sum of {$10.00}. Fl Statutes XXXX XXXX XXXX XXXX, prohibits a foreign corporation from transacting business in Fl until it obtains a certificate of authority from the Department of State, activities including " creating or acquiring indebtedness, mortgages, & security interests in real or personal property '' or " securing or collecting debts or enforcing mortgages & security interests in property securing the debts ''. XXXX. withdrew its corporation status on XXXX/XXXX/XXXX & changed its name to XXXX XXXX, XXXX would not have had the authority to assign or sell the subject mortgage to XXXX on XXXX/XXXX/XXXX because XXXX did not own the subject loan, service the subject loan or have a license in the state of Florida to execute any mortgage transactions. The mortgage assignment specifically states that " the assignor XXXX XXXX XXXX XXXX in consideration for the sum of {$10.00} & other good & valuable consideration paid by XXXX XXXX, does hereby grant, bargain, SELL, assign, transfer & set over unto assignee a certain indenture of mortgage bearing the date of XXXX/XXXX/XXXX made by XXXX XXXX XXXX XXXX XXXX XXXX XXXX. The assignment goes on to state " Together with the note & documents therein described or referred to, the money due and to become due, with interest, & all rights accrued or to accrue under said mortgage. TO HAVE & TO HOLD the same unto the said assignee ''. This is a purchase of the mortgage & the note & this statement in the assignment of mortgage contract states that XXXX XXXX XXXX did in fact purchase the mortgage & the note from a company that was not licensed to conduct the transaction. " Florida XXXX XXXX states It is unlawful for any person 1. ) to act as a mortgage lender in this state without a current, active license issued by the office pursuant to XXXX XXXX 2 ) to act as a correspondent mortgage lender in this state without a current active license issued by the office pursuant to XXXX XXXX. Pursuant to Florida XXXX XXXX a license issued in accordance with XXXX XXXX is not transferrable or assignable. According to the Florida XXXX XXXX XXXX XXXX, neither XXXX nor XXXX had a license to conduct business in the state of Florida in XXXX. In fact, when the alleged assignment of mortgage was executed, XXXX XXXX Inc had been defunct 2 years prior & their license was terminated on XXXX/XXXX/XXXX. Also pursuant to FL statutes XXXX, MERS, Inc did not have a license in the state of FL. XXXX XXXX XXXX, XXXX did not have the authority to purchase my mortgage & the note. XXXX XXXX does not HOLD promissory notes or mortgages & does not have the authority to negotiate the sale or transfer of a promissory note. XXXX XXXX does not & did not have a license & does not have the authority to collect payments or interest on any mortgage loan. Aurora Loan Services XXXX Inc did not have a license in FL in XXXX to purchase, service or conduct mortgage transactions in Fl. The mortgage assignment clearly states return to Aurora Loan ServicesXXXX. There are XXXX different companies on this document. Aurora Loan Services was the servicer in XXXX & again in XXXX. Aurora then sold the servicing rights to Nationstar Mortgage , LLC and all of this is illegal and state laws have been broken. How can you sell a mortgage or a note you DO NOT OWN?

Company response to consumer: Closed with explanation