Consumer complaint received 2024-10-28 00:00:00
Product: Debt collection — Mortgage debt
Issue: Attempts to collect debt not owed — Debt was paid
Company: Angel Oak Mortgage Solutions LLC
State: MS

Complaint narrative:
XXXX, XXXX XXXX XXXX XXXX XXXX has continued to ignore my instructions to settle the account and issue a satisfaction upon the margin of record with my county recorder of deeds. I have issued several instructions for XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX to use the available credits held by the XXXX to balance the XXXX and XXXX accounts in order to reconcile both sides of the ledger. This was a credit transaction according to TILA and I demand that my equitable rights pursuant to the Dodd-Frank Act be honored. I have equitable rights to recoupment and sett-off. The initial instrument which was tendered by my Estate is the security that funded the entire transaction. TILA demands full transparency in all consumer transactions. Due to the non disclosure of the intentions of the initial holder of the note ANGEL OAK MORTGAGE SOLUTIONS ( who contracted XXXX XXXX XXXX to be the intermediary institution to maintain the account ) to hide my status as Donor of the notes that I would not know that I had satisfied the obligation with my signature that gave the note value. Pursuant to Regulation Z I was never given the disclosure documents informing me of my right to rescission and the accompanying forms to submit. This is why I have issued XXXX, XXXX a notice of Adverse Claim and a Notice of Rescission. The notice was delivered to their corporate office, and copies were sent to XXXXXXXX XXXX correspondence address. I have attached copies of all documentation and proof of delivery. To make matters worse I brought the correspondence to the attention of XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. My notices have still been ignored. 

The receivables ( XXXX  XXXX  ) was sold on the market to XXXX XXXX who now claim to be the owner of the note and are currently holding it in XXXX XXXX XXXX The problem I have with this transaction is that I'm a non disclosed third party investor to the pooling and servicing agreement which gives me priority claim and possessory rights to the note and all of its proceeds. Only a holder in due course can enforce the note. This means XXXX XXXX along with XXXX, XXXX took the note subject to my claims. It is impossible for XXXX XXXX to be the holder in due course. The fact that I have a claim to the note gives me the authority to instruct XXXX, XXXXXXXX XXXX XXXX XXXX XXXX to perform their fiduciary duties and have the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  side of the T-account with my payables XXXX XXXX XXXX ) side which are the credits held with the XXXX. I have proof of endorsed payment coupons which were to be used to redeem my credits. I will not continue to allow XXXX to violate my rights and continue to use unfair debt collection practices to force me into peonage for the unjust enrichment of themselves and the Investor/Owner Bank XXXXXXXX XXXX XXXX I have also tendered the endorsed note with instructions to settle the account. XXXX has stated that they do not know what to do with negotiable instruments nor securities. This is a false statement which is evidenced by their response to my privately issued Bill of Exchange which they instructed me to make non-negotiable in order to gain acceptance. The instrument was tendered to achieve derecognition of the outlined obligation through accord and satisfaction by use of an instrument ( UCC 3-311 ). Derecognition is a common accounting practice that is in accordance with GAAP and XXXX accounting principles. The assertion that we are not in a prepaid electronic credit based monetary system is one made to intentionally violate the rights of the consumer and avoid penalties that will be sanctioned by the CFPB, FTC, IRS, SEC, etc.. I am not incompetent and I fully understand my rights that are outlined in TILA, DODD-FRANK, UCC, and several other laws that dictate the duties of security intermediaries and financial institutions when handling consumer contracts and accounts. I have tried everything in my power to remain in honor and operate in good faith. 

I now need the CFPB to step in and enforce my equitable rights to set-off according to the Dodd-Frank Act and TILA. I also need the CFPB to enforce my rights to protection against illegal debt collection practices governed by the FDCPA.

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