Consumer complaint received 2023-03-22
Company: PENNYMAC LOAN SERVICES, LLC.
State: TX
Product: Debt collection
Sub-product: I do not know
Issue: Attempts to collect debt not owed
Sub-issue: Debt is not yours

Complaint:
RE : PennyMac Corp. Violation of the Consumer Financial Protection Bureau XXXX False, deceptive, or misleading representations XX/XX/XXXX XXXX XXXX XXXX, On XX/XX/XXXX, XXXX XXXX, ( herein XXXX XXXX ) Priority Complaint XXXX, XXXX XXXX XXXX XXXX, made the following statements : 1. PennyMac respectfully declines your request for a copy of the wire transfer ; 2. Please note, the XXXX XXXX Report confirms that the ownership of your loan was subsequently transferred to XXXX XXXX on XX/XX/XXXX ; 3. Unfortunately, our response letter dated XX/XX/XXXX, incorrectly stated that the owner/investor for the above referenced is PennyMac Corp . Please allow me to clarify that the owner/investor for the above referenced loan is XXXX XXXX ; 4. In providing this response, PennyMac is not limiting or waiving any rights or remedies it may now or hereafter have, whether arising under the loan documents, at law or in equity, all of which rights and remedies are expressly reserved ; 5. In accordance with the Real Estate Settlement Procedures Act ( RESPA ), you have the rights to request documents that we relied upon in reaching our determination ; 6. In accordance with the Fair Debt Collection Protection Act, 15 U.S.C. section 1692 et seq., debt collectors are prohibited from engaging in abusive, deceptive, and unfair debt collection efforts ( i ) the use or threat of violence. 
PennyMac now admits that XXXX XXXX owns the mortgage as of XX/XX/XXXX, which means that PennyMac does not have any beneficial interest in the Note. It is unclear as to how PennyMac became a debt collector and can enforce a Note that PennyMac clearly does not have.

PennyMac has failed to demonstrate that PennyMac is a payee and therefore can not be construed as a debt collector. PennyMac must cease and desist all collections but will not considering all of the tools in which PennyMac has at PennyMac disposal. 
Blacks Law Dictionary Seventh Edition Payee payee. One to whom money is paid or payable ; esp., a party named in commercial paper as the recipient of the payment.

A copy of PennyMac letter dated XX/XX/XXXX is attached herein as Exhibit 1 CONCLUSION a. XXXX XXXX, can not provide a copy of the actual wire transfer simply because PennyMac Corp., does not own the mortgage and therefore, PennyMac Corp. is committing FRAUD by falsely alleging to be a debt collector, in violation of the CFPB 1006.18 ( a ) ( b ) ( 1 ) ( ii ) ( iv ) ( 2 ) ( i ) ( ii ) ( see line 2 ) ; b. XXXX XXXX, finally admitted that he had committed perjury on XX/XX/XXXX, when XXXX XXXX falsely stated that PennyMac Corp. was the owner/investor. XXXX XXXX goes on to clarify that the owner/investor for the above referenced loan is XXXX XXXX However , the FBI and the District Attorney in the state Texas has evidence in which does not reflect XXXX XXXX as owner/investor but uncovered detailed FRAUD. 
FBI Priority Mail XXXX XXXX XXXX XXXX XXXX XXXX and District Attorney XXXX XXXX XXXX XXXX XXXX XXXX. 
c. PennyMac goes on to say, PennyMac is not limiting or waiving any rights or remedies it may now or hereafter have, whether arising under the loan documents ; in violation of the CFPB 1006.18 ( 3 ) ( c ) ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( d ) ( see line4 ). 
d. XXXX XXXX goes on to say, In accordance with the Real Estate Settlement Procedures Act ( RESPA ), you have the rights to request documents ( see line 5 ). However, when I asked PennyMac Corp., for a copy of the actual wire transfer that PennyMac used on the purchase of my home XXXX XXXX responded, PennyMac respectfully declines your request for a copy of the wire transfer. PennyMac violated RESPA by denying me a copy of the actual wire transfer. PennyMac violated CFPB 12 CFR Part 1024 - Real Estate Settlement Procedures Act ( Regulation X ) e. XXXX XXXX letter goes on to state, In accordance with the Fair Debt Collection Protection Act, 15 U.S.C. section 1692 et seq., debt collectors are prohibited from engaging in abusive, deceptive, and unfair debt collection efforts ( i ) the use or threat of violence in violation of the CFPB 1006.18 ( 3 ) ( c ) ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( d ) PennyMac Corp. actions are abusive, deceptive, and fraudulent simply because neither XXXX XXXX or PennyMac is the owner/investor of the mortgage and therefore based on the 147 documents in which the FBI and the District Attorney in the state of Texas are currently investigating. PennyMac Corp. can not be construed as a debt collector simply because it is unclear as to who PennyMac is collecting the debt for. 
The elephant in the room here is clear. Even if you were to assume that XXXX XXXX was the owner/investor of the loan ( and there is evidence in which to reflect that XXXX XXXX is not ) common sense would tell you that there are a group of investors that invested in the loan and not one individual Company. 
That would mean that each investor that invested in the mortgage owns a certain percentage of the mortgage as the owner/investor of the mortgage. That is to say that XXXX XXXX does not own the entire loan and that each one of the investors owns a small percentage of the loan at best. What this means is that PennyMac Corp., can not be a debt collector on behalf of XXXX XXXX simply because XXXX XXXX does not hold enough beneficial interest in the loan and the Note no longer exist according to the SEC. According to the evidence in which is in the hands of the FBI and the District Attorney in the state of Texas it is obvious that XXXX XXXX does not have any beneficial interest in the note at all. The obvious question now is on who behalf is PennyMac Corp., collecting the debt for? Clearly, this debt is not mines. 
PennyMac Corp., can not produce the Note with Allonges simply because if PennyMac Corp., does PennyMac Corp., would risk numerous lawsuits brought against PennyMac by the investors in the trust. The Note must remain in the trust for a period of Thirty ( 30 ) years ( the investment cycle ) and is not tied to one ( 1 ) loan according to the SEC. 
The investors have invested in numerous loans and do not own one ( 1 ) individual loan. The reason for that is simple. If an investor invest into one loan and that loan goes into default, that investor risk losing all of his/her investment. That is to say that XXXX XXXX does not own any loans. XXXX XXXX received its payment in full from the investors in the trust. PennyMac then comes in and commits FRAUD for a loan that does not exist. 
This is further evidence that PennyMac Corp., is not a debt collector simply because there is 147 pages of documents that are currently being investigated by the FBI and the DA in the state of Texas reflects that a debt does not exist, but I can not reveal anything in regard to the investigation. 
PennyMac creating this fraudulent account in my name, an account in which PennyMac lacks standing in which to foreclose on because PennyMac can not establish standing in which to do so.

What PennyMac will attempt to do, is effectuate a foreclosure in the name of XXXX and attempt to effectuate a foreclosure on the Deed of Trust from what the FBI had told me because XXXX is listed on the Deed of Trust. But the state of Texas sued XXXX for the same reason and it was determined that XXXX lacked standing. 
If there was a loan then PennyMac would effectuate a foreclosure in the name of PennyMac and PennyMac can not simply because the debt is not mines. 

In all actuality there was over 147 pages of documents recovered. Only 147 pages was needed for the investigation, and I had five business days to submit them and was able to submit them in three days. PENNYMAC CORP., IS NOT A DEBT COLLECTOR AND THE DEBT IS NOT MY DEBT. 

Anyone reading this post and are having trouble with PennyMac, please contact your local FBI and Attorney General. The Attorney General in your state can not represent an individual but can represent a group of individuals. 

When the state of Texas sued XXXX, they sued on behalf of a lot of individuals who lost their homes. I am not in default and am acting in good faith in an attempt to get PennyMac to do the right thing before this goes public to the media. I am going to allow the FBI and the DA to do their job and if I can get their permission, I will take it to the media. 


Sincerely, XXXX XXXX XXXX.

Company response to consumer: Closed with explanation