Consumer complaint received 2016-02-17
Company: Seterus, Inc.
State: IL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
Today, at XXXX CDT on XXXX XXXX, I received a notification package sent from XXXX XXXX ( Tracking # XXXX XXXX XXXX ) which showed a date of XXXX XXXX, 2016 using standard overnight on the shipping label. 

Apparently, based on a cover letter using Seterus letterhead and dated XXXX XXXX, 2016, we were to be notified at least 15 days prior to the effective date. 

This is for a loan which XXXX XXXX XXXX, XXXX, in court document, claimed to have ownership of and negotiating rights, and also claimed to own it as successor to XXXX XXXX XXXX, XXXX in spite of documents which are in our possession which state, on XXXX Letterhead, that they had sold the mortgage ( including the security instrument, as required by contract law written into the original mortgage ) to a public security trust, which was managed by XXXX ( under conservatorship for reasons, including but not limited to incompetent management, potentially fraudulent transactions, and abuse of executives mismanaging risks and concealing risks to shareholders ). 

I am concerned that Seterus is a front organization which is attempting to do a " shake down '' illegally and without legal standing. 

I am requesting, through the CFPB, that Seterus provide me with written evidence that they are the sole and exclusive servicing agent for the investors that rightfully and lawfully own the note and security instrument, as well as identify precisely who they represent, and who holds the note with the security instrument for the property address XXXX XXXX XXXX XXXX, XXXX IL XXXX. 

I believe that this loan has been unlawfully processed, and I believe that the note and security instrument were sold already, into a public security trust, and then subsequently packaged with other mortgages and resold, with no lawful basis for Seterus, XXXX XXXX XXXX, or XXXX to be able to provide lawful ownership of the original note and security instrument. 

As such, I believe this to be an unlawful attempt to extort funds from me, using interstate mail, threats of taking personal property without legal standing, and I am filing this complaint as a first document in response to the package received today. 

I have not seen any verbal or written notification that has indicated such a change taking place from any other part previously, and I am forwarding this information to my Senator XXXX XXXX, as well as to the media personnel that I worked with when fighting previous efforts that were made in violation of laws and regulations, attempting to take my personal property without having legal standing. 

I am seeking written proof of ownership of the original note and security instrument, along with proof of all owners from each subsequent transaction made when the note was packaged and sold and resold to investors who made investment decisions based on the packaged mortgage backed securities being represented to them that there was, in face, a mortgage backed security, and not just notes, when they invested. 

I believe that this is an attempt being made by XXXX, the US Treasury, and XXXX XXXX XXXX, to work together to be willfully blind to the law and to use the legal settlement arrangements between the US Department of Justice and XXXX XXXX XXXX as cover to go after struggling homeowners, in direct conflict with the settlements that were made with over XXXX state attorney general offices throughout the United States of America, and against the homestead laws of each state. 

In addition, I am seeking clarification as to how payments are to be handled, since XXXX XXXX XXXX is fully aware of my interests in owning this home, and they know that the loan was modified to be more than {$40000.00} under water immediately, and intentionally, in violation of the Illinois Mediation Act and settlements for struggling homeowners. I believe this to be a fraudulent transaction.

Company response to consumer: Closed with explanation