Consumer complaint received 2022-04-07 00:00:00
Product: Mortgage — VA mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
Wells Fargo Bank was not working for any entity that had a financial interest in my property located at XXXX XXXX XXXX XXXX XXXX XXXX. From XX/XX/XXXX until the illegal foreclosure on XX/XX/XXXX, by Wells Fargo Bank who was acting as the mortgage loan servicer that was only powered to act as the servicer due to the XX/XX/XXXX, servicing agreement with the lender XXXX XXXX XXXX XXXX XXXX ) who stopped existing on XX/XX/XXXX when the FDIC declared it a " failed bank ''! 

As XXXX could not call a debt due after XX/XX/XXXX, they could not authorize another party to work on their behalf to collect a debt as they no longer existed. Wells violated UCC9 where proof of purchase was needed as Wells fraudulently submitted Assignment of Debt of Trust on XX/XX/XXXX, as if they purchased the debt from the originator of the loan in XXXX XXXX XXXX  ( XXXX ). XXXX had originated the mortgage loan on XX/XX/XXXX, and sold the loan to XXXX on XX/XX/XXXX, who would attach the loan to it's XXXX XXXX XXXX. Wells being a lender of VA loans and attaching these loans to it's XXXX XXXX XXXX knows that it must follow the procedure of UCC3 and endorse all the Notes in blank and relinquish the blank Note to XXXX XXXX to act as underlying collateral for the XXXX. 

However, Wells knows that XXXX XXXX does not purchase the loans as XXXX XXXX is not authorize to purchase the mortgage loan debt per Congress. So when Wells represents to the regulator that it was acting for XXXX XXXX as the investor for the loans when foreclosing, when in fact it knew XXXX XXXX was not owed a debt from me as they not extended a loan to me nor could purchased the debt that stopped existing when XXXX stop existing. 

Wells can not produce a purchase agreement nor valid servicing agreement between XXXX or XXXX. Wells tricked XXXX XXXX XXXX of Deeds into filing a Notice of Default and Assignment of Deed as if they purchased my debt that did not and does not exist as the lender stopped existing and had no ability to sell the debt as XXXX held the blank Note that was physically transferred on XX/XX/XXXX. Because XXXX did not originate the loan it was required under UCC9 to provide proof of ownership because they did in fact endorse the Note in blank using the required UCC3 procedure when placing the loan in their XXXX XXXX XXXX on XX/XX/XXXX. 

Wells Fargo continues the lie that they purchased my loan back from XXXX, who never owed a debt from me or any other borrower of Fed XXXX backed loan. Wells who used a non-judicial foreclosures when XXXX for over a year had stopped existing and somehow XXXX could resale the debt to XXXX on XX/XX/XXXX, which was over 6yrs after the sale on XX/XX/XXXX. Wells wants the CFPB to believe that they would buy loan that had no-recourse and the proceeds from the foreclosure sale on XX/XX/XXXX, and the VA Guaranty Fund insurance payout that were transferred to XXXX XXXX XXXX XX/XX/XXXX was money that Wells had extended in a loan to me when in fact that was not the case. However, Wells was purchasing a loan debt of over {$200000.00} that the collateral in the property had been sold 15 days prior and no recourse to recover the allege debt? 

There was not debt as I was the only financially interested party alive as XXXX was not existing and never did approach the court to call a debt due. The full value of the property belong to me. Wells Fargo does not have any proof of a loans that they originated or purchased that I am obligated too. Wells has not provided a contract that either they or XXXX XXXX is entitled to repayment of a Mortgage loan debt. 

XXXX XXXX is never an investor as it does not originate, buy or sell any mortgage loans or MBS and was only listed in the MERS system as an investor to track the loans. There was no continual link in ownership as XXXX a " failed bank '' was not in the chain of ownership any longer after XX/XX/XXXX. 

Wells Fargo Bank was found to be guilty of handling my loan through the Independent Foreclosure Review Board! It must be understood that a non-owner of debt can not be placed in title placing a lien against the property and only the " holder in due course '' has the right to do so. At no time was Wells never holder of any mortgage loan debt and transferring foreclosure and insurance proceeds after the fact of the foreclosure is not a purchasing of debt!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation