Consumer complaint received 2018-08-29
Company: NATIONSTAR MORTGAGE LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
My compliant arises from Mr. Cooper 's and XXXX 's failure to provide adequate and complete disclosures in their deed of trust regarding permissions for exercising a short sale and deed in lieu. 

Had these pertinent terms been disclosed and the type of permissions required for execution, I wouldve made an informed decision. I would've fully understood as the sole borrower of the loan whether consent from another party was required for a short sale or deed in lieu approval. Taking this into consideration, I would've not signed as the sole borrower on the loan, add two co-signors, and put my credit on the line for the next 30 years. 

Ive took time out of work for a year to resolve this issue with multiple representatives from Mr. Copper and XXXX only to find out now there is a flaw in the deed of trust. 

The fact these pertinent disclosures werent disclosed is equivalent to blindly signing a contract. In other words, I signed for something I didnt know what I was signing because these terms were clearly and undoubtedly excluded. This clearly is Mr. Cooper 's and XXXX 's fault, since they're the parties responsible for verbiage structure. 

At the time the deed of trust was signed on XX/XX/2013, as a CPA and XXXX  XXXX agent, I made the extra effort to double check and read every letter of the deed while dotting all my " is '' and crossing all my " ts ''. No where does it mention I need to obtain the consent of any co-signee in the event of a short sale or deed in lieu. 

It's obvious that with my thorough due diligence review, had I known about this substantive fact in writing, I would've thought twice and not entered into this agreement with Mr. Cooper. In fact, who in their right mind would get into a rabbit hole like this, especially someone whos well educated like myself, had they known about these facts upfront? 

Omission constitutes a null contract which is equivalent to a rescission. The fact these important terms were omitted makes me wary about Mr. Coopers and XXXX 's fiduciary responsibilities not knowing if other disclosures were also excluded. 

As a result, I feel like I've been robbed of my credit, gipped, taken advantage of, defrauded, inadequately informed, and treated unfairly from both companies. I dont feel comfortable continuing doing business with these companies because I suspect they're probably engaging in other illicit practices. 

Therefore, rightfully so, I am requesting these companies to be sanctioned and suspended from doing business in the financial sector along with the release of my name from the mortgage. 

In case there's any confusion or a predisposed, illogical rationale in favor of these entities, I want to close off by giving an example. As a XXXX  XXXX agent, if a universal policy doesn't contain any information on policy fees for early withdrawals, but my client signs and later makes a premature withdrawal only to know theyre slammed with a hefty fee, what do you think the outcome would be? 

In this example, I am the customer who happened to sign an unlawful and invalid deed of trust with corrupt financial institutions who go by the name of Mr. Cooper and XXXX XXXX.

Company response to consumer: Closed with explanation