Consumer complaint received 2024-12-11 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: PRIMARY RESIDENTIAL MORTGAGE
State: GA

Complaint narrative:
Dear XXXX XXXX and Primary Residential Mortgage, I hope this email finds you well. I am writing to address serious issues with the servicing of my loan ( XXXX  XXXX # XXXX ) and to request your assistance in resolving these matters. I have encountered significant discrepancies and breaches of contract related to the loan transfer process, which have caused financial harm and confusion. Below are the details of the breaches : 1. Invalid Loan Transfer : In XX/XX/year>, Primary Residential Mortgage, Inc. ( PRMI ) informed me that my loan would be transferred to XXXX XXXX, effective XX/XX/year>. However, XXXX  records show discrepancies in the loan transfer history, and there is no evidence of a transfer to XXXX XXXX XXXX, which XXXX claims to have received the loan from. Furthermore, I did not receive any direct communication from XXXX XXXX XXXX regarding their involvement. This discrepancy raises concerns about the validity of the loan transfer chain. 

XXXX XXXX from PRMI : PRMI informed me that my loan would be transferred to XXXX, effective XX/XX/year>. However, there was no subsequent communication or documentation from PRMI or XXXX verifying the loan transfer details. Moreover, XXXX 's claim that the loan was transferred from XXXX XXXX XXXX is unsupported by the loan transfer records, and I received no prior notice from XXXX XXXX XXXX, which contradicts the information provided by PRMI. This has created confusion and uncertainty regarding the loans proper servicing. 

XXXX  Regulation : XXXXnder 24 CFR 3500.21 ( e ) ( 1 ), a loan servicer must provide timely and accurate notice to the borrower when a loan servicing transfer occurs. The failure to provide proper notice and the inconsistency in the transfer history violates this regulation, creating uncertainty about the proper servicing of my loan.

2. Failure to Provide Required Notices : As outlined in the Real Estate Settlement Procedures Act ( RESPA ), I was entitled to clear and timely notice of the servicing transfer. However, I did not receive the required notices from any of the parties involved, including Pacific Union LLC. Nationstars failure to provide accurate information about the transfer chain violates both the terms of the Security Deed and the regulations set forth by HUD and RESPA. HUD Regulation : RESPA ( 12 U.S.C. 2605 ) mandates that borrowers receive notice of any servicing transfer, including the name, address, and telephon
e number of the new servicer. The failure to provide these notices constitutes a breach of federal law, and I was not properly notified of the transfer, as required under 12 U.S.C. 2605 ( c ).

3. Financial Impact : Due to these breaches, payments were mishandled, which resulted in negative credit reporting and financial harm. Specifically, the improper handling of my loan transfer caused me to lose access to credit products and forced me to take out a modification loan to address the consequences of these errors.

4. Request for Loan Cancellation and Refund : Given the material breaches of the loan agreement, I am requesting the immediate cancellation of the
loan and the removal of the XXXX  on my property. I also request a refund of all payments made since the initial payment to PRMI on XX/XX/year>, as these payments were mishandled due to the improper transfer process. 

5. Request for Surety Bond Information : In addition to the above, I would like to request a copy of the surety bond information for Primary Residential Mortgage, Inc. ( PRMI ) in connection with this loan servicing issue. This is critical in ensuring that proper financial protection and remedies are in place for consumers like myself who have been adversely affected by the mismanagement of their loans. 

I have attached the following documentation to support my claims : Notices of transfer from PRMI and XXXX. 
XXXX  official records showing discrepancies in the loan transfer history. 
I kindly request your immediate assistance in resolving this issue, including facilitating the cancellation of the loan, addressing the improper servicing transfer, and providing the surety bond information. I would appreciate your guidance on how to proceed with this matter. 

Thank you for your attention to this urgent issue. I look forward to your prompt response.

Company response to consumer: Closed with explanation