Consumer complaint received 2016-07-14 00:00:00
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure — 
Company: Ocwen Financial Corporation
State: CA

Complaint narrative:
To Whom It May Concern, I am filing this Complaint against my alleged servicer Ocwen Loan Servicing , LLC, herein referred to as Ocwen, because it appears they believe they do not have to follow the laws and guidelines that have been put into place to protect homeowners against questionable practices that could lead to a wrongful foreclosure. For the past four years I have been fighting to save my home. I have had no luck with modifications after several attempts. They say one thing and then do another. After learning more about the unscrupulous practices by servicers over the past years, I decided to look into who owns my debt obligation. I have sent Ocwen numerous letters including a Qualified Written Request ( QWR ). In their responses to me, they have stated that XXXX as Trustee for XXXX-Through Certificates, Series XXXX, herein referred to as XXXX, owns my note. However, based on the California Supreme Court ruling XXXX. this past XXXX, there is no way XXXX can own my debt obligation or have standing to foreclose on my property. The Supreme Court stated that an assignment is void if the assignment that is used is dated outside the closing date of the Trust. In my case, the XXXX, Series XXXX, herein referred to as the XXXX Trust, had a closing date of on or about XXXX/XXXX/XXXX. The Assignment of Deed of Trust that XXXX claims an interest was executed on XXXX XXXX, XXXX, over 6 years after the XXXX Trust had closed. This is clearly fraud and a violation of the law. The Assignment is clearly void. As stated in XXXX, if a purported assignment necessary to the chain of title by which the foreclosing entity claims that power is absolutely void, meaning of no legal force or effect whatsoever, the foreclosing entity has acted without legal authority by pursing a trustee 's sale and such an unauthorized sale is a wrongful foreclosure. Unlike a voidable transaction, a void one can not be ratified or validated by the parties to it even if they so desire. It further states '' ... the borrower owes money not to the world at large but to a particular person or institution, and only the person or institution entitled to payment may enforce the debt by foreclosing on the security. It is no mere " procedural nicety '' from a contractual point of view, to insist that only those with authority to foreclose on a borrower be permitted to do so ''. Banks are neither private attorneys general nor bounty hunters, armed with a roving commission to seek out defaulting homeowners to take away their homes in satisfaction of some other bank 's deed of trust. Based on XXXX, I do not understand how XXXX can attempt to proceed with a foreclosure against my home when they lack the authority to do so. Furthermore, on XXXX XXXX, XXXX, I mailed to Ocwen a Notice to Rescind, cancelling my debt obligation. Ocwen received my Notice to Rescind on XXXX XXXX, XXXX. Ocwen failed to follow the mandatory steps required under the Federal Truth in Lending Act, herein referred to as TILA, within 20 days. In addition, Ocwen has violated the Fair Debt Collection Practice Act by attempting to collect on a debt on behalf of an entity that is not owed the debt. This is deemed a fraudulent act under FDCPA. Also in violation of the FDCPA, Ocwen acquired my loan after the loan was in default. Ocwen has clearing violated federal laws. I felt it necessary to file this complaint in regards to their blatant disregard for the law. I am looking to the CFPB for their assistance to make sure these violations do not go unnoticed and unpunished. I believe they should be ordered to cease and desist with any foreclosure activity currently pending on my property indefinitely.

Company response to consumer: Closed with explanation