Consumer complaint received 2024-02-14 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: NAVY FEDERAL CREDIT UNION
State: FL

Complaint narrative:
I signed a " credit transaction '' with Navy Federal Credit Union ( NF ) on XX/XX/2018. Just to be clear this was NOT a residential mortgage transaction. NF monetized from the loan application from either the federal reserve or the treasury, and extended my credit back to me in a form of a loan for this credit transaction that was rescinded. Keep in mind all there is is credit. I properly rescinded the transaction on XX/XX/2018 within the 3 day time period. According to TILA and under 15 USC 1635 ( b ), NF had 20 days and did nothing and has since violated my rights. 
I sent my rescission first by regular mail on the XXXX which was a Monday. I called at the end of XXXX to their customer service and was told they did not receive it. I sent it again by Certified mail on or about XX/XX/2018 around that time frame. I sent Qualified Written Request to NF and I received a copy of my recession letter along with the appropriate copy of the H-8 form that I used under appendix section. NF ignored my recession and I came to find out that NF sold my note/Account on the secondary market. I have acquired the CUSIP number which is # XXXX with XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX. There won't be no problem with this sale if I did not properly rescind the transaction.Furthermore, the loan application was presented to the primary market, and this is a non taxable event. My understanding since NF is a foreign entity NF does not have to report the sale of my Note/Account that was sold on the secondary Market and do not have to report the sale as income. I believe this is tax evasion, and keeping it in my name is identity theft. I believe NF retained the servicing rights, as my note was already sold before I signed it at closing. 
Furthermore, My understanding for NF or its affiliates to be a transfer agent and registered with the Securities and Exchange commission, the agreement between the SEC and the transfer agent ( NF or its affiliates is NOT to sell other persons securities on the secondary market. Are these reportable transactions? is NF or its affiliates report these transactions as income? Is NF keeping the proceeds, and not giving back to the person whose name is on the security instrument? I may be a little off but I'm very close to what is happening and I'm in the process of having an audit preformed to expose the behind the scenes activity. I understand that, with in the mortgage document most people agree and they tell you that they will be selling the note, that would be fine BUT I properly followed the law and rescinded the transaction, and NF kept my financial asset, and is fraudulently keeping the proceeds and has brought fraud on the court with a fraudulent complaint and has acquired judgment in their favor. Keep in mind that all original notes are destroyed according to Florida 's XXXX XXXX at the time president XXXX XXXX under Oath before the Supreme Court. Also, that NF gave up all rights to the financial asset known as the Note to the REMIC trust called XXXX XXXX, but the question is when? 
I am not crying over spilled milk here and I'm not asking for help with my foreclosure case, as it's far from over as I'm going on the offense, and I have it under control. My job is to report suspicious activity to the proper authorities as the right agencies who can trace the paper trail ( the money AKA IRS ) and confirm my suspensions. It's disgusting what I have discovered. I will do whatever it takes for justice and to make sure the laws are followed, and NF is accountable for their actions. You can not monetize off of a persons identity behind their back and try to enforce a trust document known as a mortgage that was lawfully rescinded. This needs to be investigated as you are the public servant and I believe is the right agency along with the Internal Revenue Service to STOP this fraudulent activity without the person even be aware of what really is happening behind the scenes. I want answers. I am not asking for a lot. I want to sit down with NF and I want a complete trail with anything with my name on it, from how this was funded all the way into the REMIC trust, how much is being profited and how much is in the accounts, and that also includes my personal accounts, that were also sold on the secondary market. I want all and any tax forms that was filled out with my SSN or my name that was filed with the IRS. I can get it now, or I'll get in a deposition, or discovery when I file suit. Thank you and I look forward to your responses. Please reach out to me with any questions.

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