Consumer complaint received 2016-06-25
Company: NATIONSTAR MORTGAGE LLC
State: FL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
Nationstar Mortgage , LLC has stated to me in writing as a response to CFPB case number XXXX dated XXXX XXXX, XXXX that the Corporate advances are charges assessed to loans when a " LENDER '' takes action to protect the " LENDER 'S '' interest in a property. WHO is the LENDER? Nationstar also stated in the same document that they are a " debt collector '' and are only the mere " servicer '' of the loan. Nationstar Mortgage , LLC has also stated on the same document that " XXXX maintains a data base of all loans registered with it, including the name of the LENDER of each loan. By using XXXX, the LENDERS and INVESTORS who are the REAL PARTIES in interest avoid the need to file assignments in county records, which lowers costs for the LENDERS and consumers by reducing the recording expenses resulting from real estate transfers and provides a central source of information and tracking for mortgage loans ''. WHO are the LENDER & INVESTOR, which Nationstar Mortgage , LLC has stated are the REAL PARTIES in interest? The XXXX account information for this mortgage shows that this account was REMOVED from the XXXX system on XXXX/XXXX/XXXX. However, the assignment of mortgage was left in XXXX name. WHY was the mortgage removed from the XXXX system on that date? On XXXX XXXX, XXXX complaint number XXXX filed with the CFPB, Nationstar Mortgage , LLC stated in the response to the complaint that " The INVESTOR of your loan, whom the loan was originated with, is XXXX. First of all, XXXX does not originate loans. Per XXXX own Basics of XXXX Single-Family MBS, The U.S. single-family residential mortgage market consists of a primary mortgage market in which LENDERS make loans to home buyers and a secondary mortgage market in which mortgage lenders exchange loans for mortgage-backed securities ( MBS ). Those MBS are then generally purchased by investors. As a secondary market participant, XXXX does not lend directly to consumers. Therefore, XXXX is NOT the originator of the loan. Nationstar Mortgage , LLC has also stated in writing on XXXX XXXX, XXXX " The investor of your loan is XXXX, Nationstar Mortgage is only servicing the loan on behalf of the investor. '' If Nationstar Mortgage , LLC is servicing the loan on behalf of the investor, that would imply that the loan is currently being traded as stock in a REMIC, which would make it illegal for Nationstar Mortgage , LLC to have the promissory note. If Nationstar Mortgage , LLC is servicing the loan on behalf of the investor, that would mean the payments that were made on the loan would be collected and dispursed to the investors in the REMIC. Does Nationstar Mortgage , LLC have proof that the payments collected were dispursed to the REMIC? WHO is Nationstar Mortgage , LLC collecting payments for, as a debt collector and servicer? Nationstar Mortgage , LLC has also stated on a letter dated XXXX XXXX, XXXX that in XXXX XXXX, the mortgage account had {$780.00} in legal fees at the time of the notice, which was XXXX/XXXX/XXXX. I have requested on several occasions for validation of the {$780.00} charge for " legal fees '' and Nationstar Mortgage , LLC has refused to answer as to what legal fees would have been charged for in XXXX XXXX. I look forward to your response. 
cite : XXXX, XXXX. Basics of XXXX XXXX Single Family MBS. PDF. XXXX, XXXX.

Company response to consumer: Closed with explanation