Consumer complaint received 2017-11-16
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Closing on a mortgage

Complaint:
This is the first CFPB complaint forwarded to XXXX XXXX XXXX XXXX XXXX as fiduciary for the mortgage signed by me for the property in the address XXXX XXXX XXXX XXXX XXXX, XXXX, MA XXXX which was securitized into a REMIC -- a real estate mortgage investment conduit. The REMIC in particular is the CWALT XXXX, Alternative Loan Trust for which either XXXX XXXX XXXX XXXX XXXX or Bank of America is a master servicer under an agreement described in its prospectus. Per IRS and SEC rules, the CWALT XXXX REMIC, like most IRS-approved REMIC has a structure similar to a limited partnership wherein mortgages participating in the REMIC are subject to IRS tax regulations for income generated by the REMIC and buyers of the REMIC are ordinary individuals with IRS-liabilities from gains or losses generated from the REMIC. Neither XXXX XXXX XXXX XXXX XXXX nor Bank of America,  can not be NOTE HOLDERS OF THE MORTGAGES IN THE REMIC. 

Several other CFPB Complaints, totalling in at least 7 have been raised in order to obtain proper REMIC documentation of the mortgage under my name for the above said property, which is likely used as the Master REMIC as a whole mortgage for the pass-through of interest and principal. The issuers, Bank of America, and the master servicer, XXXX XXXX XXXX XXXX XXXX continue to use the securitized mortgage in the REMIC, in particular my REMIC for other resecuritizations which are now generating tremendous profits for the private banks participating in the commercial structured financial securities market. At the same time, these very banks continue to hide any disclosure of documents that will determine the profits generated or distributed to the mortgage under my name, just like what mortgages in a REMIC are supposed to have as benefit. Instead, these banks continue to harrass me that my property will be foreclosed for 10 years on non-payment!!!! If my property was not in this REMIC and has n't been fully-paid off by the distributions in CWALT XXXX eachXX/XX/XXXX for each of the years since CWALT XXXX was in place -- from XX/XX/XXXX until present ; then the my property should have been foreclosed a long time ago ( after 3 months of missed payments ) and not after 10 years of non-payment!!! 

THESE FACTS CONTINUE TO GO AGAINST NORMAL LENDING AND FORECLOSURE PRACTICES AND I AM PURSUING SEVERAL FACT-FINDING RESPONSES TO THESE QUESTIONS IN MY COMPLAINT. 

As a Master Servicer, I would like XXXX XXXX XXXX XXXX XXXX to generate the summary of distributions of the CWALT XXXX REMIC since these could potentially be needed by me as a tax-payer. 

The following are provided also as a historical summary of the complaints I had filed with the CFPB regarding this matter : 1 ) A CFPB Complaint on XXXX XXXX XXXX as the current mortgage servicer and assignee of either XXXX XXXX XXXX XXXX XXXX and/or Bank of America which are the master servicer for the mortgages in the REMIC. The REMIC is securitized under the very controversial CWALT XXXX, Alternative Loan Trust known as one of the 3 vintage REMICs which has resulted in the whole consumer structured financing securities of present. It should be noted that CWALT XXXX was already TRO'ed since XX/XX/XXXX and yet there are activities in my mortgage billing statements that is indicative of all the undercover activities that the banks involved are conducting using the One-Month LIBOR tax-free security instrument which has pay-options and negative amortization -- - or pass through. XXXX XXXX XXXX details in its response that my mortgage is owned by XXXX XXXX XXXX XXXX XXXX. 

2 ) CFPB Complaints asking both XXXX XXXX XXXX and Bank of America for providing me the Security Certificate for the CWALT XXXX REMIC. I filed multiple CFPB complaints against these companies in regards to the mortgage under my name which is used as a whole mortgage to pass-through finterest and, apparently illegal pass-through of principal and dividends and other distributions. I also reiterated the fact that based on the Dodd-Frank Act required disclosures from ratings companies like Moody.s, TOGETHER WITH LAND COURT DOCUMENTS FROM THE STATE OF MASSACHUSETTS XXXX COUNTY REGISTRY OF DEEDS, it appears that up until today, my mortgage is being used in CWALT XXXX REMIC as the master REMIC ( either Class M, Class M-X or Class X ), and depending on the year my mortgage was used, the banks continue to benefit by making the other assets in their lending portfolio liquid and with higher asset values because the REMIC is being used as a means to recover principal in these foreclosed assets. 

3 ) I have also manifested claims in the CFPB complaints facts which I can use in legal proceedings as follows : - as a negative amortization mortgage based on the One-Month LIBOR Index ( as a mortgage with monthly adjustments based on the index 12 month MTA plus original margin of only 1.75 post-principal limit ), the payment option structure in my mortgage contract signed on XX/XX/XXXX is continually being exploited by the investment banks to consummate re-REMIC and passthrough principal and dividends in their other assets. 

- XXXX XXXX XXXX continues to participate in this potentially high-crime cover-up by responding to my multiple request for disclosure of CWALT XXXX and providing me with the security certificate that is rightfully mine ( since my taxpayer SSN is being used or will be used ). To date, XXXX XXXX XXXX continues to deny that the XXXX has paid-off the {$270000.00} money originally-borrowed in my line and continues to harass me with foreclosure notices which is the 3rd time my homestead would have been foreclosed. In its last response, XXXX XXXX  XXXX responded to my complaint in CFPB Case XXXX that they can not provide CWALT XXXX documentation because these are proprietary. 

My property is in the REMIC, my Social Security Number is attached to the IRS-liabilities of that REMIC so it can not be as proprietary as it is me who could claim it is proprietary, and it is me who can claim it is my right to have these disclosures! 

- the Servicing and Pooling Agreement of the CWALT XXXX REMIC and its administrators continue to go against the expectations of the law

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