Consumer complaint received 2022-05-30
Company: WELLS FARGO & COMPANY
State: GA
Product: Mortgage
Sub-product: VA mortgage
Issue: Trouble during payment process

Complaint:
Wells Fargo Bank ( Wells ) who was mortgage servicing for my mortgage loan for XXXX XXXX XXXX ( XXXX ) from XX/XX/XXXX until XXXX was declared a " failed bank '' by the FDIC and up until that point my loan was current and could not and was not called due. ( XXXX XXXX XXXX XXXX XXXX ) Payment on the loan should not have been collected by Wells because they had not authority from a failed bank who could not complete the term of our agreement as they stopped existing and in the sell of the bank from FDIC to XXXX Bank did not include the sale on my loan which was in the XXXX XXXX XXXX XXXX since XX/XX/XXXX, and the Mortgage loan Note had been endorsed in blank as required by XXXX XXXX and physically transferred to XXXX who owned the Mortgage Note while not purchasing the debt which they are not authorized to buy or sell any mortgage loans. 

Wells who with MERS creates fraudulent Notice of Default and Assignment of Deed of Trust where XXXX said it had paid value for my Mortgage loan which did not happen and could not happen as XXXX the successor to XXXX XXXX Bank ( XXXX ) would have to be the party that sold the Mortgage loan to Wells, but that could not take place after my loan was accepted into the XXXX XXXX XXXX on XX/XX/XXXX. As there was no value paid by XXXX for my Mortgage loan. So, on XX/XX/XXXX, Wells lied and said it paid value but did not making it appear as if they had the right to non-judicially foreclose and they were in this chain of ownership as the owner. telling the XXXX XXXX XXXX of Deeds that they were the legaly holder of the Mortgage Note when in fact they were the non-owner holder of the Mortgage Note for XXXX XXXX who owned the Mortgage Note but not the right to call a debt due as they were not owed any monies from me. 

To avoid producing evidence of a purchase Wells put itself in title as owner so that the court would not require proof as needed under XXXX as neither XXXX or XXXX originated the Mortgage loan. My Mortgage Note which was received by the XXXX and forwarded to me in XX/XX/XXXX show the only two endorsements on the Mortgage Note in the endorsement when the loan was sold to XXXX on XX/XX/XXXX and the blank endorsement when the loan was accepted into the XXXX XXXX XXXX on XX/XX/XXXX. 

Wells admits to not purchasing my loan on or before the XX/XX/XXXX, foreclosure as they are saying that XXXX XXXX was the investor owner of my Mortgage loan which because XXXX can not originate or purchase any Mortgage loans they are not entitled to place a " lien '' against the property. Wells holding the title physically for XXXX is not a co-partner in the contract as if they have a financial interest in the loan and have a right under the state to claim they paid value when in fact neither Wells or XXXX paid anything of value. 

There no provision of some future purchase that gives Wells the right to foreclose on XX/XX/XXXX, as if XXXX sold the Mortgage loan to them when in fact they sold all interest in the Mortgage loan which no recourse on XX/XX/XXXX without having delivered and recorded a Deed of Trust ( DOT ) on or before they sold the interest. Now not having a DOT recorded does not mean a debt is not due, but it mean there is a unsecured debt as the DOT was recorded illegally in violation Nebraska Statute 76-238 but XXXX did not submit a Assignment of DOT which means they did not want aa lien against the property because they did not try to fix the XX/XX/XXXX, which was after the fact or request that I sign a new DOT to address the issue. We can only go by what XXXX did and that was to not submit for a " lien '' and did not have one in place. 

Wells and XXXX  see the opening of the lack of Assignment of DOT from XXXX to XXXX and makes the document look as if Wells purchased from XXXX who was wrong in the first place in not recording with in the time frame of ownership. There is no unbroken link between XXXX members from XXXX to Wells as the bank stopped existing XXXX who did not purchase my loan is not claiming a lien nor is XXXX claiming a lien. 

Now Wells who is the originator of millions of Dept of VA Mortgage loans that they placed into their XXXX XXXX and knows the requirements that the Mortgage Notes are endorsed in black and signed HUD XXXX Release Security Interest are signed and transferred to XXXX to prevent the underlying collateral from walking away from the XXXX that XXXX is insuring provided for the investors that have invested into the XXXX XXXX. 

So, as the titling does not start in the MERS tracking system until a valid DOT has been recorded at XXXX XXXX XXXX, as that never been done legally, and XXXX who does not qualify to use the XXXX XXXX system because it never obtain a certificate of authority from the XXXX XXXX of XXXX, XXXX XXXX XXXX. XXXX and Wells violates XXXX XXXX XXXX as neither one was a financial interest in my Mortgage loan. 

Wells after the fact of the foreclosure claims that they were working for XXXX XXXX who they say was owner, and XXXX is in fact owner of the Mortgage Note but did not pay value and is not entitled to a repayment by me as they did not extend a loan to my or purchase the debt. However, Wells later claims they purchased the loan on XX/XX/XXXX, to remove my loan from the XXXX XXXX, however, as they want to cause the confusion of Mortgage loan and loan, which there are two type of loans, in the Mortgage loan that between XXXX and myself and the loan that XXXX taking out against their XXXX XXXX from the investors of the XXXX. The XXXX investor loan which is a totally separated that took place after my Mortgage loan closing, and I'am not a party too, is what paid off to so-called to remove the Mortgage loan from the pooling. There only XXXX amount of monies from the foreclosure and that monies is my equity in the deal that the counter-party in XXXX has not rights to as they stopped existing and did not call the loan due, because it could not be called due. Wells takes the illegally got monies from the foreclosure and pays XXXX, making no monies to settle my alleged Mortgage debt, but the fact is that debt stopped existing on XX/XX/XXXX, as no one could buy it or sell it! 

The property was and still is my property as I was not paid value for it, and having a title that not clear making it possible to sell stolen goods. Wells can not and does not provide proof of Value Paid in support of the XX/XX/XXXX recorded Assignment of Deed of Trust!

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