Consumer complaint received 2024-12-01 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: ATLANTIC BAY MORTGAGE GROUP LLC
State: VA

Complaint narrative:
I have reached out to Atlantic Bay Mortgage Group via a Non-Negotiable Notice of Debt Validation Request as a Private Communication between the Parties and Constitute Due Process In Administrative Procedure, to provide validation information and confirm whether it still owns the loan ( XXXX & Loan ID XXXX ). Following XXXX5 U.S. Code ss 1692 and under the Fair Debt Collection Practices Act, all collection efforts regarding this account are to be suspended until this matter has been settled. ( documentation of said Notices will be provided as attachments ). I additionally asked Atlantic Bay, to provide me with detailed documentation as to whether it had securitized this loan in the Non-Negotiable Notice of Debt Validation Request.

One of Atlantic Bay 's communications was " Since your mortgage loan with Atlantic Bay was sold to a third party on XX/XX/XXXX, Atlantic Bay would not be the party to send this form '' /request.

Another of Atlantic Bay 's subsequent letters sent me a letter on XX/XX/XXXX, stating it had sold my loan in XX/XX/XXXX to XXXX XXXX. 
I have asked the mortgage company to provide documentation about the sale of that loan transaction. 
XXXXntic Bay has repeatedly sent misguided information with the intent to delay, deny, and confuse us the consumers from obtaining the true and accurate information of the Loan it says it provided.

Throughout this whole process that has been a 12-month journey Atlantic Bay has continued to provide inaccurate information on the loan, it has not provided us the name, address, and contact person of the entity it says purchased my loan, nor has it ceased collection efforts to include setting a date for a DEED Of Trust Sale ( XX/XX/XXXX ) after it clearly stated in its letters dated XXXX and XXXXXXXX XXXX XXXXXXXX that it had sold the mortgage. 
The Mortgage and DEED are documents that require assignments and court filings if they are transferred, reassignment, or subsequent change of ownership.

Atlantic Bay has not provided any of the required notices to me the consumer of this kind of transaction concerning my mortgage and deed.

Atlantic Bay does not possess the standing in my opinion to take a lawful action of foreclosure or Deed of trust sale if it does not hold/own both the Mortgage and the Deed.

Some of the requests in this Administrative Procedure with Atlantic Bay were to consider Rescission and start over since it had failed to provide clear and concise relevant information in this contract. Since Atlantic Bay failed in its responsibility to provide relevant disclosure concerning the Securitization, Sale, and Trading of my financial assets ( NOTE and DEED ) without my knowledge then Rescission is necessary and being claimed by me. 
I sent Atlantic Bay at least two Non Negotiable Notices of Rescission on XX/XX/XXXX and again on XX/XX/XXXX. I subsequently received a letter from XXXX, XXXX, XXXX, XXXX XXXX XXXX XXXX XXXX XXXX, informing me that they were retained by Atlantic Bay to respond to my NOTICE of Right of Rescission dated XX/XX/XXXX and received by Atlantic Bay. Telling me that my right to rescind expired on XX/XX/XXXX, without further addressing the disputes associated with my claim. I responded by sharing with the Law Firm, a letter that I received from Atlantic Bay, Noticing that it had received my request for Rescission well in advance of the XX/XX/XXXX date my alleged right to rescind has expired. 
Case law states that UNTIL the required disclosures have been provided to the consumer then the clock on the consumer 's right of RESCISSION does not start. Additionally, I will provide a XXXX XXXX to obtain information on the Securitization, Sale, possible Funding, and active trading of a XXXX  Number created during the Mortgage Back Securitization and offers associated with the loan in question with Atlantic Bay.

Atlantic Bay has delayed, provided misinformation, and failed to provide the full disclosure that it is required to provide while lamenting they have been overloaded with requests that take up their valuable time after responding to my requests they label as bothersome and without merit.

The attachments and Atlantic Bay 's acknowledgment of the sale of the Mortgage, the securitization of the loan, and the sale of the deed of trust together reveal that Atlantic Bay lacks standing to take any action on me except to return the deed and Note to me free and clear with prejudice.

Company response to consumer: Closed with explanation