Consumer complaint received 2017-12-27
Company: WELLS FARGO & COMPANY
State: IL
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Dear CFPB : In XX/XX/XXXX I purchased a property located at XXXX XXXX XXXX XXXX XXXX XXXX, XXXX IL XXXX. 

The XXXX, XXXX XXXX XXXX. as Trustee for XXXX XXXX XXXX XXXX XXXX ( XXXX ), who claimed to be duly authorized to transact business in Illinois prepared a Special Warranty Deed on behalf of XXXX Board of Directors or Trustees. I recently discovered that XXXX XXXX fraudulently sold me a fraudulent foreclosure based on forged documents prepared by fake " authorities ; and likely defrauded me from a Title Insurance on this property, I submitted my complaint with CFPB. 

On XX/XX/XXXX XXXX XXXX representative, XXXX XXXX, mailed me 1 page runaround letter where he advised that XXXX XXXX has nothing to do with this foreclosure and is " merely the Trustee for the Trust that owner the mortgage and the Note for this Property. 

XXXX XXXX further advised me to send my inquiries to Wells Fargo bank, who was the Servicer for this Trust. In support to his letter, XXXX XXXX mailed me a brochure explaining loan securitization. 

XXXX XXXX respond is incomplete, deceptive and evasive. 

First, I requested XXXX XXXX to provide me information that XXXX is a legit and legally sound Trust which operates in accordance with Securities and Exchange Act and IRS Rule 26-840. In order to have a good legal standing XXXX must have a copy of Pooling and Servicing Agreement and make periodic filings with SEC ( Forms XXXX, XXXX ; XXXX, XXXX ) ; and be annually registered with IRS REMIC Trust registery, These are administrative duties and responsibility of the Trustee ( which is reflected in the brochure provided by XXXX XXXX. I did not find ANY mandatory filings made by XXXX XXXX with SEC between XX/XX/XXXX-to present time ; and XXXX XXXX is NOT listed with IRS Pub. 938. Please order XXXX XXXX to provide me proof that XXXX XXXX XXXX XXXX XXXX is in good standing, legally exists and has authority to conduct business in Illinois. Please order XXXX XXXX to provide me copies of PSA, IRS P. 938 and SEC Forms officially filed by XXXX XXXX as Trustee between XX/XX/XXXX-present time. 

Second, according to XXXX XXXX, XXXX XXXX owned the mortgage and the Note, not the Servicer. In order to lawfully accept this ownership, these securities ( mortgage and Note ) must be transferred into XXXX XXXX withing 90 days from its Closing Day, which the latest must be XX/XX/XXXX for this Trust. The Assignment of Mortgage ( but not the Note ) into the Trust was made in XX/XX/XXXX, or six years later, which is unlawful per se, Plus, the Note was never assigned and never became the part of this Trust. When I pulled foreclosure case based on which XXXX XXXX obtained possession of this property, the Note lacked ANY chain of assignment,. Please order XXXX XXXX to provide explanations how XXXX became the " owner of the mortgage and Note '' six years after its closing day and without a mandatory chain of Assignment. 

This, when XXXX XXXX sold me this property, they claimed to act under authority of Trust Board of Directors, Please provide me names and contact information for all Directors who authorized this transaction, and their contact information. 

Forth, when XXXX XXXX completed this purchase, their lawyers, XXXX XXXX XXXX, claimed that they provided me a clean Title guaranteed by XXXX XXXX XXXX XXXX. But after I discovered XXXX XXXX fraud with securitization of Mortgage but not the Note ; and forged documents, XXXX XXXX XXXX advised me that they can not locate a copy of my Title Insurance for this property although at the closing I was billed for it {$1300.00}. 

In sum, please order XXXX XXXX to provide me : 1. proof of XXXX XXXX XXXX XXXX XXXX good legal standing between XX/XX/XXXX-present time ; legitimacy of the transfer of mortgage into the Trust 6 years after its closing day ; 2. Explanations why the Note was NOT transferred to the Trust ; copies of the original Note, with the full chain of assignment ( which according XXXX XXXX this Trust owns ) ; and proof that XXXX XXXX and XXXX XXXX lawfully own this Note ; 3. Explanations why XXXX XXXX failed to provide me with the property Title Insurance for which I was billed {$1300.00}. 



Sincerely, XXXX XXXX

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