Consumer complaint received 2017-12-05
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX, XXXX. XXXX XXXX, CA XXXX Phone ( XXXX ) XXXX Acct : ( inactive ) XXXX Letter To Bank Of America CEO XXXX XXXX TO : XXXX XXXX XXXX, Chief Executive Officer Bank of America Corporation XXXX XXXX XXXX XXXX. 
XXXX, NC XXXX Re : XXXX XXXX XXXX 
XXXX XXXX, CA XXXX Dear XXXX XXXX : Since your company has at least taken steps positive that could lead to our regaining possession of the property above listed and other benefits, Id like to take a conciliatory approach to this potential problem. 

As I am sure you know, ourhome was seized by XXXX XXXX XXXX, founder, chairman, and CEO of XXXX XXXX. XXXX is a close friend and ally of President Donald Trump who has represented Trump on television news segments. 

This is a seizure conducted in defiance of your actions for which you would be liable unless I get those keys. 

Without getting into detail, the principal point is that as Trustee of the referenced property, you have the duties contained therein to : 1 ) oversee the release of lien, 2 ) recording of a Deed of Reconveyance, and 3 ) to insure that the property is accessible to its owner ( s ). 


Who is the Trustee? 

The Trustee is the person or entity holding title to the property for the benefit of the Beneficiary ( e.g., title company, escrow company or bank ). XXXX XXXX XXXX XXXX XXXX The first two are in the books. 



But as yet, I am still in the process of regaining possession of the property at XXXX XXXX XXXX XXXX XXXX , CA. XXXX. 


And until we regain possession, it is as if the Title has been intercepted, and not be released to us. 


That means you are still liable unless and until XXXX XXXX releases the keys and, therefore, property. 


A Deed of Reconveyance is a document which transfers title in the property back to the borrower from the Trustee and it is used to acknowledge that the borrower has fully paid what he or she owed under a Deed of Trust. ASatisfaction of Mortgageis used to acknowledge the same of aMortgage agreement. 

A Satisfaction of Mortgage is a document signed by a mortgagee acknowledging that a mortgage has been fully paid and that the mortgage is no longer a lien on the property. In order to clear the title to the real property owned by the mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds. 

If the mortgagee fails to record a satisfaction within the set time limits, the mortgagee may be responsible for damages set out by statute. 

In essence, the Deed of Reconveyance and Satisfaction of Mortgage both serve the same function, which is to show that the borrower has repaid the loan fully and that the lender has no further interest in the property. '' What happens when no Deed of Reconveyance is recorded? 

If a purchaser of property pays off the entire debt that he or she owes under a Deed of Trust but no Deed of Reconveyance is recorded, then the debt will still be registered against the property. 


Even if done later than the statutory required time period, the purchaser should still try to prepare a Deed of Reconveyance. In many states, the lender will face a penalty for not discharging the fully paid Deed of Trust in a reasonable time. '' Perhaps he already has done so, but we have no official indication of that. But as I said, until he releases the property, XXXX XXXX XXXX is in defiance of the Trustee and the Beneficiary. 

But I suspect not, because in my encounter while viewing the the XXXX CountyPublic Record, I saw clear evidence of tampering. 

The entire file, and each line item said the same as the line item for " Trust Deed '' and " Lien ''. 

Someone is being criminally deceptive. I hope Bank of America is not a party to this charade. 


On the official record, In clicking on to the details, the results show that the Substitution of Trustee and the Reconveyance were recorded on XX/XX/XXXX and XX/XX/XXXX respectively by XXXX XXXX XXXX, XXXX. 

In addition,. The " Substitution of Trustee '' and the Reconveyance both were recorded on XX/XX/XXXX,11 years earlier, by the same Trust Company on behalf of the CEO of Bank Of America . 



The Trustee Deed, as it should have been, was replaced by your The Substitution of Trustee and Full Reonveyance. 

The difference between the Trustee Deed and the Deed of Reconveyance Is : a ) It is not signed by XXXX XXXX or anyone representing XXXX XXXX, XXXX XXXX 

b ). The Trustee Deed is signed by an unidentifiable individual named " XXXX XXXX ''. It is not signed either by a Trustee or Beneficiary c ) XXXX XXXX appears not to exist. She 's a forgery. A false notation in which I hope you are not involved. 

This is a follow-up to the notice of intent I sent you through this same agency, the Consumer Financial Protection Bureau. 

It is not meant as a complaint at this time. We are simply providing you the opportunity to further your positive steps. Your credibility, and your mandated Code of Professional and Ethical Conduct are being hacked by XXXX XXXX, who reuses to own up to his action, ideally, I would prefer doing this with as few roadblocks as possible. But make no mistake. It is our property, as fully you agree, and we are bound to reenter the premises. 

The less hassle for me, means the same for Bank of America. 

" BANKRUPTCY " Judge Fines Bank of America {$45.00} Million for Heartless Treatment of Mortgage Borrowers Amount meant to be large enough that it wont be laughed off in the boardroom, judge says in ruling '' Remember : What happened to the couple in this case, happened to us. except we had the Deed of Reconveyance you recorded, and XXXX XXXXIlegally nixed it. 

" Judge XXXX XXXX of the U.S. Bankruptcy Court in XXXX said the banks mortgage modification process and mistaken foreclosure on XXXX and XXXX XXXX home left them in a state of battle-fatigued demoralization. 

The case brings renewed attention to the mortgage industrys loan servicing business. XXXX alluded to systemic problems, saying the bank had little incentive to alter the mortgage terms and kill a goose that keeps laying 6 % golden eggs, referring to the interest rate that the bank collected. 

The fine money, earmarked mostly for law schools and consumer advocacy organizations, is meant to be large enough that it wont be laughed off in the boardroom as petty cash or chump change, XXXX said in the ruling, published Thursday. It is apparent that the engine of Bank of Americas problem in this case is one of corporate culturenot rogue employees betraying an upstanding employer, he added. '' XXXX XXXX XXXX is worse. 

Time to step up and make XXXX step back and step out of our lives. 

Sincerely, XXXX XXXX

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