Consumer complaint received 2016-04-22
Company: TFS FINANCIAL CORPORATION
State: OH
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I learned through research that certain disclosures where to provided when you purchase a home. I learned of this information from several sources including the Supreme Court Case No : XXXX XXXX XXXX XXXX and XXXX XXXX v XXXX XXXX. It is to my understanding that if you never received certain disclosures you had a right of rescission. I exercised this right by sending a notice of rescission to the CEO, XXXX XXXX XXXX and CFO XXXX XXXX XXXX of Third Federal Savings & Loan on XXXX XXXX, XXXX. This notice was sent Certified Mail and I has it was also notarized. On XXXX XXXX, XXXX at XXXX XXXX I missed a phone call. I returned the call at exactly XXXX XXXX I spoke with someone, who I believe was named XXXX and identified himself as some type of analyst. He informed me that he received the notice of recession and that it was invalid because it was beyond 3 days. I informed that he was incorrect and that was not what the Supreme Court stated. He then stated that some attorney looked over it and had come to that conclusion. I asked him when he came to that decision and I believe he said several days ago. I asked why I have not received anything on this decision since he made the decision several days ago..He called back at two other times once at XXXX XXXX and another time at XXXX XXXX on XXXX XXXX. He stated I should be receiving something from the attorney. On XXXX XXXX, XXXX I received a letter from XXXX XXXX. On the top of the letter it states XXXX, XXXX, XXXX, XXXX XXXX XXXX however on the bottom it states in all capital letters and bold print " THIS MESSAGE IS FROM A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. " In the letter it states Third Federal of XXXX ( Third Federal ) received my XXXX XXXX, XXXX letter claiming right to rescind the loan and retained our law firm to respond. It stated that Third Federal would not honor my request because it was invalid. It stated I had no right to rescind a loan to purchase real property. It stated I used the fund loaned to you by Third Federal to purchase the property secured by the mortgage so you do n't have a right to rescin and that the mortgage was signed in XXXX so even if it was covered under the Truth in Lending Act ( TILA ) right of rescission would be outside TILA statute of limitations. It also stated the right to rescind expires in 3 business days after the loan documents are signed and if extended for 3 years if the lender failed to provide necessary disclosures. In addition it stated that since the loan is a purchase money loan and even if it was covered by TILA 's you claim would be barred by TILA 's statute of limitations. It then states your claim for rescission is rejected. It is my understanding that a 3rd party debt collector can not make this determination. In response, I sent a letter back certified mail on XXXX XXXX, XXXX stating that he was in no position to make this determination as a 3rd party debt collector. I then sent a Notice and Demand to Validate the Debt in this same letter. I received a letter back on XXXX XXXX, XXXX from XXXX XXXX. It stated the following " To reiterate, you request for a loan rescission will not be honored by Third Federal Savings and Loan Association of XXXX for the reasons set forth in my letter dated XXXX XXXX, XXXX. '' It also stated " Though my letter to you identified our law firm as a debt collector, my letter to you was neither a demand for payment nor an attempt to collect a debt, so your dispute does not trigger an obligation to validate the debt. 
He then stated that the purpose of the letter was to inform your rescission claim is baseless, and, that, therefore, the rescission request would not be honored. Since Third Federal has not responded directly I am confused and worried and do n't know what to do.

Company response to consumer: Closed with explanation