Consumer complaint received 2025-01-13 00:00:00
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Payment process
Company: NAVY FEDERAL CREDIT UNION
State: KY

Complaint narrative:
1. Federal failed to return a financial security tendered for full settlement of the purported mortgage. We request a return of the security tendered for full settlement of any purported debt. Navy Federal Credit Union confirmed receipt about XX/XX/XXXX by registered mail. 

2. We asked Navy Federal Credit Union if they accepted Treasury Credits. They said no. Which begs the question by what authority and by what credits did they create or extend a purported mortgage since under federal law, they are not allowed to use depositor funds. It appears that Navy Federal Credit Union received Treasury Credits using our signature to receive treasury credits in our name and then extended a purported loan, but in fact no loan was made, the credits were from our beneficiary account with the US Treasury. When we inquired of Navy Federal Credit Union whether they accept Treasury Credits, they stated no. 

3. At this point, we request the source of the credits that Navy Federal Credit Union purportedly extended, what was the originating authorization for Navy Federal Credit Union receiving such credits, and if NAVY FEDERAL CREDIT UNION extended Treasury credits, why they do not accept Treasury Credits as Settlement. 

4. We request an answer : Why are the actions of Navy Federal Credit Union not in violation of public policy PL 73-10/ HJR 192 by Navy Federal Credit Union specifying a species? 

Financial instruments are assets that can be traded or exchanged. 

18 U.S. Code 20 - Financial institution defined ( 2 ) a credit union with accounts insured by the National Credit Union Share Insurance Fund ; ( 10 ) a mortgage lending business ( as defined in section 27 of this title ) or any person or entity that makes in whole or in part a federally related mortgage loan as defined in section 3 of the Real Estate Settlement Procedures Act of 1974. 

Compare for XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 

Compare for XXXX XXXX XXXX. XXXX XXXX, title XXXX, XXXX ( c ), XXXX XXXX, XXXX, XXXX XXXX. XXXX, provided that : " Financial institutions shall have 60 days from the date of enactment of this Act [ XXXX XXXX XXXX ] to comply with the provisions of section 5318 ( k ) of title 31, United States Code, as added by this section. '' ( 6 ) Negligence.- ( B ) Pattern of negligent activity.If any financial institution or nonfinancial trade or business engages in a pattern of negligent violations of any provision of this subchapter or any regulation prescribed under this subchapter, the Secretary of the Treasury may , in addition to any penalty imposed under subparagraph ( A ) with respect to any such violation, impose a civil money penalty of not more than {$50000.00} on the financial institution or nonfinancial trade or business. 

5. We request that Navy Federal Credit Union cease and desist from providing errant information/ misleading information to its members in the business of interstate banking using wire to promote the scheme Cf 18 USC 1343. 

6. We request that NAVY FEDERAL CREDIT UNION address each point one through six with particularity and specificity and provide such answers under sworn statement under penalty of perjury under notary seal so that it is admissible as evidence in any tribunal.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation