Consumer complaint received 2024-10-29 00:00:00
Product: Mortgage — Manufactured home loan
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: VANDERBILT MORTGAGE & FINANCE, INC
State: LA

Complaint narrative:
On XX/XX/year> I acquired a mortgage on a manufactured home. According to this company, the balance remains over XXXX. This is request for validation of debt and rules for accounting under GAAP, particularly the legal ability to offset/set off balances. You are required to produce your books and validate any debt under FDCPA 15 USC 1692g and e ( 2A ), as well as UCC 9-210. Merely providing accounts receivable does not suffice as debt validation. Since you utilize accrual accounting methods, not cash accounting methods, it is essential to provide a full view of debits, credits, assets, liabilities, and any off-balance-sheet assets and liabilities ( i.e., the tranche ). 
b. Additionally, you must produce the XXXX  for the Note. A XXXX  is required if the Note has been securitized. Failure to provide this can result in a claim of securities fraud under 18 USC 472, 475. 
XXXX As the primary obligor, we possess the XXXX  for the discharged Birth Certificate BankNote Bond, serving as the Secured Party Creditor and Holder In Due Course. The U.S. Treasury Department and XXXX act as the minor account ( XXXX XXXX XXXX ), trustee, surety, and secondary obligor. The credit was extended from this under the XXXX XXXX banking system. 
XXXX. Legally Enforceable Right of Setoff : a. The remedy for SETOFF can be found in 31 USC 5118 ( d ) ( 1,2 ), as confirmed by XXXX XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX  XXXX ). This allows the use of any legal tender ( UCC 1-201 ( 24 ), MONEY ) and bonds ( 18 USC 8 ) to have the secondary obligor debt the minor account and credit your account through a ledger-to-ledger transfer using your XXXX XXXX XXXX  XXXX ( XXXX XXXX XXXX series ). Your contracts typically require payment in legal tender or, in the case of poorly written contracts, lawful currency, which is illegal. 
3. Legal Basis for Offset/Setoff and Discharge : The following legal provisions support the offset/setoff and discharge of debt : 26 USC 6325 - Release of lien or discharge of property. 
XXXX CFR XXXX  XXXX XXXX - Bonds and insurance. 
XXXX XXXX XXXX - Discharge of indebtedness ; reporting requirements. 
XXXX XXXX - Breach of fiduciary duty. 
XXXX XXXX - Discharge and effect of discharge. 
XXXX XXXX - Payment. 
XXXX XXXX- Tender of payment. 
XXXX XXXX - Defenses and claims in recoupment. 
XXXX XXXX - Claims to an instrument. 
18 USC 2073- False entries and reports of moneys and securities. 

Summary : Any payment tendered is considered payment made, as all debts are prepaid without recourse. When a bond is tendered for settlement, there is an immediate discharge under XXXX XXXX. The bank must, by law, either use its XXXX XXXX XXXX XXXXXXXX ( XXXX XXXX XXXX series ) to complete the setoff or wait for the XXXX to process the bond and discharge liabilities. This is a mere book entry, much like the original demand deposit that extended credit from the buyer to the seller. Failure to comply with these legal obligations can expose the bank to liability under FDCPA and FCRA ( 15 USC 1681a, n, o ) for willful and negligent noncompliance, as demonstrated in Department of Agriculture Rural Development Rural Housing Service XXXX XXXX, XX/XX/XXXX, U.S. Supreme Court XXXX XXXX XXXXXXXX. 

Please ensure your adherence to these standards and guidelines to avoid any potential legal complications. Should you have any questions or require further clarification, feel free to reach out.

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