Consumer complaint received 05-02-2016 about Mortgage (Conventional fixed mortgage) with NATIONSTAR MORTGAGE (IL).
Issue: Loan servicing, payments, escrow account

Complaint: I secured a loan with XXXX XXXX XXXX in XXXX, XXXX, for {$270000.00} to purchase a Co-Op apartment located at the address XXXX XXXX XXXX, XXXX XXXX, XXXX, XXXX. XXXX XXXX XXXX XXXX loan number is XXXX. 

In XXXX, my XXXX XXXX XXXX loan was sold to Nationstar Mortgage. I received a letter in the mail that XXXX XXXX XXXX will no longer be servicing my loan, and that Nationstar will now be accepting my mortgage payment. XXXX Nationstar XXXX XXXX. XXXX ) I have been trying to sell this apartment since XXXX. I purchased the apartment for {$300000.00} ( Original XXXX XXXX XXXX loan was for {$270000.00} ), and since XXXX, I have had it on and off the market with no buyer. I exceeded the amount of years to rent it, due to the XXXX rules and restrictions of the Co-op, so it has been sitting empty since XX/XX/XXXX, despite my 6 attempts to appeal to the board. 

After many failed attempts to sell, I finally secured a buyer at the selling price of {$170000.00}. I am borrowing {$97000.00} from my grandmother and my mother, to pay off the loan debt I have with Nationstar, and I will be covering the rest of the closing costs with my own savings. A total loss of {$130000.00}. I am fortunate that I have family support to lend me the money, so that I do not have to foreclose on the property, however this will take me years to pay back. 

Since XXXX XXXX, XXXX, my attorney has been trying to secure the ORIGINAL Stock certificate from Nationstar, so that we may close on the sale of the apartment. All correspondence has been unsuccessful, as Nationstar ca n't locate the document and XXXX XXXX XXXX does not have record if they have the original certificate. Nationstar mortgage has stated that they only have a copy of the Stock Certificate, and that XXXX XXXX XXXX is holding the Original Stock Certificate as collateral. 

The property is under contract and was scheduled to close on XXXX XXXX, XXXX. My attorney 's office and I, have been requesting from Nationstar Mortgage and XXXX XXXX XXXX to provide us with the Original Stock Certificate and Proprietary Lease, which is needed in order to complete the closing. We have continued to make numerous requests to Nationstar and XXXX XXXX XXXX, and to date no original documents have been provided. The buyer has served us with a " Time of the Essence '' letter, and we need to provide the documents within 10 days, or they will file a Breach of Contract. 

We need the following documents IMMEDIATELY : 1. An original Affidavit of Lost Document ( as to the Stock and Proprietary Lease ) 2. Release ( notarized ) as to the Loan Modification Agreement recorded XXXX XXXX, XXXX, in Book XXXX, Page XXXX. 

3. County and State XXXX Termination Statements ( referencing XXXX XXXX XXXX Loan No. XXXX and Nationstar Loan No. XXXX ). 

The loan will be paid off in full at the closing. 

NOTE : I am requesting that I am NOT held responsible for the XXXX XXXX mortgage payment and any accrued late fees, due to the mishandling of the proper documents by Nationstar mortgage. As previously stated, this sale should have closed on XXXX XXXX, XXXX, but Nationstar is not able to provide the proper documents in order to do so. 

In order to close we MUST have the above ( XXXX -XXXX items ) XXXX and releases in our possession. 

TIME IS OF THE ESSENCE and we need an immediate response. The closing was scheduled for XXXX XXXX, XXXX, and we need your URGENT attention to this matter. 

My contact information is : XXXX XXXX XXXX XXXXXXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX ( XXXX ) XXXX I extend my sincere thanks for your support and guidance to help expedite this process as soon as possible. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation