Consumer complaint received 2025-05-13 00:00:00
Product: Debt collection — Mortgage debt
Issue: Took or threatened to take negative or legal action — Seized or attempted to seize your property
Company: Shellpoint Partners, LLC
State: GA

Complaint narrative:
Having to reinstate the Audits that have been ignored and there is a letter which came in the mail sent by a Realtor name XXXX with a XXXX XXXX XXXX  from the forclosure of property owner XXXX XXXX XXXXXXXX XXXX yet have never answered the vital request of the QWR.How can XXXX XXXX XXXXXXXX move forward when there can be no legal enforcement of the Note if the Mortgage and the Note are not issued by the same organization. The Mortgage protects the lender by enforcing the Note and allowing them to foreclose on the property. As a result, if the Mortgage and the Note are separated, foreclosure is not possible, if each has a distinct mortgage/beneficiary, the Note can not be enforced by the Mortgage, and there can be no lawful foreclosure on the homeowners ' property If the Mortgage is not itself a legally enforceable Instrument. 

If the loan was sold, pooled, and transformed into a security, the purported holder would no longer be able to argue that it is a true party of interest because the original lerider has been paid in full. 

In addition, once the Note is changed into stock, or a stock equivalent, the Note is no longer a Note. Double dipping occurs when both the Note and the stock or stock equivalent exist at the same time. Security fraud is known as double-dipping.

Once a loan is securitized, which the aforementioned loan may have been several times, the loan loses its security component ( i.e., the Mortgage ) and the right to foreclose through the Mortgage is eternally lost.

According to the findings of this report, the Promissory Note has been permanently converted into stock. As a stock, it is subject to the SEC 's laws and regulations, necessitating the completion of registration statements, Pooling and Servicing Agreements, Form 4248-5, and other documents. There is no evidence on record that the Mortgage was ever transferred simultaneously with the supposed legal transfer of the Note, such that the Mortgage and Note were permanently separated, rendering the putative security in a property null and void, as asserted. 

A thorough study and analysis found that this was a securitized debt. The Assignment of Mortgage pretended to be an A to D transaction, but the foreclosing party was concealing the true sales facts of A to B, B to C, and C to D, where A is the original lender, B is the sponsor/seller, C is the bankruptcy-remote depositor, and D is the issuing mortgage-backed securities trust. According to our findings, they also withheld the legal SEC filings that governed the transaction. True original loan Notes and Mortgages required to be given by the Document Custodian confirmed to have been in their possession on the proper dates, to be governed by those SEC filings. As a result, the Trust 's claim of ownership can not be proven, and the loan servicing rights are not established at law by agreement. The examiner provides this as written testimony, and we are available for oral testimony.

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