Consumer complaint received 2016-02-17
Company: NATIONSTAR MORTGAGE LLC
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
To Whom It May Concern, I have been fighting to save my home for the past three years. During my fight, my servicer has been changed from XXXX XXXX XXXX, XXXX, herein referred to as XXXX, to Nationstar Mortgage LLC, herein referred to as Nationstar. Much like XXXX, Nationstar has failed to address the many requests for information and documentation I have been requesting for the past few years. Due to the fact that XXXX and Nationstar have failed to provide me the information I requested, which includes who is the true beneficiary of my debt, I mailed to Nationstar a Notice of Rescission. On XXXX XXXX, XXXX, I mailed to Nationstar a Notice of Rescission to cancel my Deed of Trust and promissory note. To date Nationstar has ignored my rescission. Based on information and belief, pursuant to the Federal Truth In Lending Act, herein referred to as TILA, 15 U.S.C. 1635 ( b ) and Regulation Z, the Deed of Trust and promissory note or lien arising by operation of law on the property becomes automatically void. Congress intended for the rescission to be self-enforcing and failure to comply with rescission obligations subject Nationstar to liability. Under TILA, delivering notification to the person or address to which the consumer has been directed to send payments constitutes delivery to the creditor or assignee. Rescission rights are equally enforceable against original creditors and assignees pursuant to 15 U.S.C. section 1641 ( c ). Nationstar received my Notice of Rescission on XXXX XXXX, XXXX, more than 20 days has passed and Nationstar had taken no action. As noted by the Official Staff Commentary, a commentary made by the Federal Reserve, the creditor 's interest in the property is automatically negated regardless of its status and whether or not it was recorded or perfected. Furthermore, the security interest is void and of no legal effect irrespective of whether the creditor makes any affirmative response to the notice. Under the act, a creditor has no right or authority to grant or deny, agree or disagree with a notice of rescission. In fact, under TILA, if Nationstar wanted to challenge by rescission rights, they should have file a declaratory action against me within twenty days of receiving my Notice of Rescission. They failed to do so. As upheld in the recent U.S. Supreme Court Opinion in XXXX v. XXXX, the statute makes no distinction between the right to rescind in 3-day or extended as neither case nor statute give courts equitable discretion to alter XXXX 's substantive provisions. There is no burden of proof for me and consumers to make the rescission effective. Nationstar has failed to comply with the mandated steps under TILA and is attempting to foreclose on a Deed of Trust that has been made null and void by operation of law on XXXX XXXX, XXXX. I do not understand how they are able to foreclose on a null and void Deed of Trust. I am filing this complaint because of Nationstar 's refusal to abide by Federal and State law. Given the blatant disrespect for my TILA loan rescission rights, I respectfully request that you, the Consumer Financial Protection Bureau, immediately review my case in critical detail and determine that Nationstar is in violation and are subject to liability under the Act and take the appropriate action allowed. It is my belief that these lenders and servicers should not be allowed to disregard the law with no consequences.

Company response to consumer: Closed with explanation