Consumer complaint received 2022-09-07
Company: FIRST INTERSTATE BANCSYSTEM, INC.
State: GA
Product: Mortgage
Sub-product: VA mortgage
Issue: Closing on a mortgage

Complaint:
Great Western Bank ( GWB ) did on XX/XX/2003, had delivered and record a Deed of Trust ( DOT ) after the fact that they had already been paid in full by XXXX XXXXXXXX Bank ( XXXX ) on XX/XX/2003 as the Mortgage Note was endorsed by GWB when the sale took place. 

As GWB had between XX/XX/2003 through XX/XX/2003, to have delivered and record the DOT, however, after that day on XX/XX/2003, GWB was no longer owed a debt by me and was not the " holder in due course '' and could not place a lien against the property. 

Violation of State of Nebraska XXXX occurred when GWB had the DOT recorded and at some point after selling the mortgage loan debt that was transferred to XXXX and in the Mortgage Electronic Registration Systems ( MERS ) which only begins when a valid recording of the DOT has been delivered and recorded at the local register office, and in this case that is XXXX XXXX XXXX XXXX XXXX Office , however, as GWB did realize that they had not recorded the DOT as they imputed the information into the MERS system on XX/XX/2003, that they were transferring the " Title '' inside MERS performing Transfer Beneficial Rights-Option 1, stating the transfer took place on XX/XX/2003, when in fact on XX/XX/2003 the DOT had not yet been delivered and recorded. 

On XX/XX/2003, the mortgage loan was accepted into XXXX 's XXXX XXXX XXXX which as a requirement of the XXXX pooling the DOT and all assignments are required in the file as with the UCC3 procedure of endorsing the Mortgage Note in blank and transferring it to XXXX making XXXX the owner of the Mortgage Note, but because XXXX can not and does not purchase the Mortgage loan debt, it is not entitled repayment of the debt, but by being in possession of the Mortgage Note it stop all action on the loan because XXXX does not have the ability to act as they don't own the Mortgage Note. 

GWB now removed from the Mortgage contract and XXXX having already taken possession of the endorsed Mortgage Note and XXXX endorsing in blank the Mortgage Note and acting as the custodian of records for XXXX without having a recorded DOT because one has not been delivered until XX/XX/2003, when in fact neither GWB or XXXX could have delivered and recorded a DOT or assignment of DOT because XXXX is owner of the Mortgage Note, but itself can not record a DOT due to the fact that they are not owed a debt as they are not authorized by US Congress to buy or sell a Mortgage loan and are not a originator of any loans. 

GWB could not deliver and record a DOT against my property as they were not owe a debt after XX/XX/2003! The Mortgage loan is a non-secure debt as a valid DOT was not recorded by GWB. 

Why did GWB not inform XXXX XXXX that a sale of the debt occurred on XX/XX/2003? Because of the fact it would have alerted the register that GWB was not the party to be recording the DOT after XX/XX/2003, and would have been XXXX who from XX/XX/2003 until XX/XX/2003 to be the one that needed to record a DOT signed by me giving XXXX the authorization to record, and after XX/XX/2003, there not ability to record a DOT due to the fact the loan been accepted into the XXXX XXXX XXXX XXXX pooling.

Company response to consumer: Closed with explanation