Consumer complaint received 2022-07-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA
Product: Debt collection
Sub-product: Mortgage debt
Issue: Took or threatened to take negative or legal action
Sub-issue: Threatened or suggested your credit would be damaged

Complaint:
I feel extremely threatened by XXXX XXXX XXXX ; a foreign ( out of state ) corporation. 
XXXX XXXX XXXX has exhibited signs of abusive debt collection practices that have caused me stress, anxiety, and duress. 

XXXX XXXX XXXX purchased a note/contract that lacked full disclosure and was created with the elements of the inducement of fraud, misrepresentation, deceptive agreement, and concealment of material facts that established a Breach of contract. This company has refused to send me all the requested documentation that I have requested. 

However, they are claiming rights over the property and are threatening to foreclosure. 

Pursuant to 12 USC 2605 ( i ) ( 3 ), a servicer is not the presumed owner to foreclose. Servicing rights are not ownership rights.

15 U.S. Code 1641 ( f ) ( 1 ) & ( 2 ) - Liability of assignees Elements of fraud in the original contract : A Contract requires two or more real parties who, at the time of its execution or adoption, are covenanted to be bound by it as evidenced by the signature ( s ) of both parties. 
Bank of America, NA was not a party to the mortgage under the laws of contract. No agent/principal for the bank has signed the mortgage contract.

Could the reason for the missing signature be that Bank of America, NA did not tender any consideration in the transaction?

If the mortgage were a contract, then the mortgage merchant would have had to tender consideration. Bank of America, NA did not tender consideration.

Bank of America, NA used my signature as cash value and monetized the promissory note without my knowledge or consent. Adding insult to injury, Bank of America, NA proceeded to reissue that deposit to me in the form of a loan with added interest and fees. 
Hence, I funded my own loan ; this misrepresentation constitutes failure to disclose. I was deceived and not informed about this conversionary tactic. 
To facilitate the purchase of my property, I utilized my proper name and social security number in order. 
Pursuant to 18 USC 8 ; The social security number belongs to the Social Security Administration and anything purchased with that identifier number is an obligation of the United States.

My proper name was used on the application and Bank of America, NA deceptively created fictitious entities in the likeness of my proper name. How can I be held legally or financially responsible for these fictitious entities?

The closing attorney did not disclose these facts.

I declare that I am the natural person, the consumer in fact, and the original creditor pursuant to 15 U.S.C. 1692c ( 2 ).

Federal law states that banks only have the power to borrow. Pursuant to 12 USC 83, No national bank shall make any loan or discount on security of the share of its own capital stock.

I did not intend for my money to go and expand the banks reserves ( via fractionalization ) whilst I am liable to be put out on the street by this action. Where in the contract was that disclosed? 

XXXX requires that the bank match the new bank liability with my name on it showing that the bank owes me for the deposit that the bank accepted from me. It also requires that I be issued a receipt for the deposited funds, which I never received. 

XXXX XXXX XXXX  refuses to send double bookkeeping entries for the original lender, XXXX XXXX XXXX, balance sheets XXXX XXXX, XXXX, XXXX, XXXX in accordance with XXXX Standards Codification XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX ( securitization accounting ), XXXX, GAAP, XXXX, XXXX, XXXX XXXX XXXX, XXXX XXXX, XXXX call schedules, 1099s.

Pursuant to 26 USC 108 ( i ) ( 4 ) ( B ) when securitization occurs, there is a cancellation of debt.

The Truth in Lending Act states that I should have been given full disclosure.

Full disclosure was not given thus the so-called contract is void ab initio .

Bank of America, NA gave neither me nor the co-buyer the proper notice of our Right to Recission. We were not informed of this right until we discovered it on our own. 

XXXX XXXX XXXX tells us that we do not have RIGHTS. 
12 CFR 226.23 - Right of rescission.

( h ) Special rules for foreclosures - ( 1 ) Right to rescind After the initiation of foreclosure on the consumer 's principal dwelling that secures the credit obligation, the consumer shall have the right to rescind the transaction if : ( i ) A mortgage broker fee that should have been included in the finance charge was not included ; or ( ii ) The creditor did not provide the properly completed appropriate model form in appendix H of this part, or substantially similar notice of rescission.

Bank of America, NA XXXX issued a proper notice of our right to rescind our signatures. Due to constructive fraud and misrepresentation, we are rescinding our signatures from the security deed. We will retain our private property. 

THERE IS NO VALID CONTRACT BETWEEN the parties that are listed on the promissory note and XXXX XXXX XXXX Representatives from XXXX XXXX XXXX have harassed me by : Calling my telephone repetitively without my consent nor the consent of a court order. 
Calling my family members. 
Hiring strange people to come to my home in order to take pictures of my family and property. 
Contracting with an attorney group XXXX XXXX XXXX XXXX who has mailed threatening communications via the. This group attempted to intimidate and coerce me to sign a contract with XXXX XXXX XXXX. 
Mailing threatening communications ( threats of foreclosure and asserting ownership rights over my personal property ) Forwarding mail via the United States Postal Service with a fictitious name ( in my likeness ) and address. 
Making multiple attempts to fraudulently extort payments from me via the United States Postal Service. 
Refusing to address me using my proper name but requiring to pay a debt for a fictitious entity Mailing a notice stating that I do not have a right to rescind my signature although I am within the 3-year time frame and I was never given proper notice of my right to rescind from Bank of America , NA. 

Relevant Court Case : XXXX, XXXX XXXX XXXX, XXXX XXXX at XXXX. Parties may be considered volunteers if, in making a payment, they have no interest of their own to protect, they act without any obligation, legal or moral, and they act without being requested to do so by the person liable on the original obligation. 
A volunteer, stranger, or intermeddler is " one who thrusts himself into a situation on his own initiative, and not one who becomes a party to a transaction upon the urgent petition of a person who is vitally interested, and whose rights would be sacrificed did he not respond to the importunate appeal. ''

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