Consumer complaint received 2022-10-06
Company: SELECT PORTFOLIO SERVICING, INC.
State: KY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
This letter is to try to contact the correct department that has attached my property as collateral in the Trust for Towed Point Master Funding and or XXXX XXXX Funding XXXX-A Collateral Trust. Ex. 1 I enclosed the address of the property which has been included in the XXXX. XXXX Bank states theyre the Trustee for the investors mentioned above, at this point I am not sure, which investor is being represented by XXXX Bank XXXX XXXX XXXX 
Ex.2 the question is : was my loan funded I need copies of the wire or certified sent to the seller. 
the seller indicates that the loan was not funded or there is no record of a loan. 
Where are the origination documents, it's not legal for XXXX Bank and the investor to collect mortgage payments without proof they funded the loan initially. 
It is my understanding and I need clarification where this asset was pick up, was it on the secondary market as XXXX or other securities. 


My complaint has been ongoing for years without proper attention from XXXX Bank or any of the Servicers. However, as the years pass, I have been able to research now able to get to the bottom of the issues. The XXXX or the Investor which ever one is supposed to have the rights to my property has clearly misrepresented the truth concerning the origination and the recording of the Mortgage and the Note. The question concerning this asset is whether there was funding or money exchanged. The answer is NO Ex.3 Instead of the issue being a mortgage, it turns out to be a violation regulation Z and X. I recently reported this issue to the SEC and XXXX. The property was securitized several times without my permission from XXXX Bank and XXXX. The deed is in my name and there were no liens on the property when the warranty deed was issued by the seller or the Trustee in XXXX. I did not authorize XXXX or XXXX Bank or any other business to use my property in a securitization scam. 

XXXX There are several problems with this deception that stand out. First, the property was sold to me direct from XXXX XXXX, XXXX XXXX as the Trustee who had already securitized the property prior to the chapter XXXX as it reads on the Deed, Book XXXX Page XXXX. I will include the history concerning these issues which were covered up and portrayed as a legitimate mortgage assignment when there was never funding confirmed for this property. 
Debtor in Possession After filing a voluntary or involuntary petition, the business is considered a debtor in possession, which means it retains control of its assets while undergoing XXXX XXXX. 
XXXX The XXXX XXXX XXXX XXXX XXXX registered in XXXX and administratively dissolved in XXXX, last annual report was in XXXX. The banks were aware they were using an illegal company to lure investors for Trading. The XXXX XXXX was acquired by XXXX XX/XX/XXXX but had been working on the acquisition for over a year. The purchase was completed before there was a recorded assignment to Associates by the XXXX XXXX XXXX XXXX concerning my property. XXXX XXXX  and XXXX were aware of the issues with the XXXX XXXX XXXX XXXX they knew the loan was not funded but continued to perpetrate this lie. If the loan was funded, then the XXXX for XXXX XXXX or XXXX XXXX as the XXXX would have had the closing documents. The Document the Trustee sent to me states that they abandon this asset. 

Ex.6 It would be impossible for the XXXX XXXX to authorize the signature for the POA to record the note and mortgage when the corporate officers had resigned over year prior to the recorded date. Who hired the POA.? In addition, there were no records of certified funds or wires sent to the Trustee. I received that information several years ago from the Trustee for the XXXXXXXX  XXXX for XXXX XXXX XXXX. I forwarded that information to CitiMortgage or the XXXX XXXX Mortgage XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, they quickly sold or transferred my asset to Towed Point Master Funding in XXXX. 
XXXX I also sent this information to XXXX Bank XXXX but I was focusing on the payments that were not posted correctly to my mortgage that I made for almost 24 years to those companies that have no legal rights to accept those payments. In addition, they fabricated the Note and Mortgage they recorded. XXXX XXXX from XXXX was a Robo signer for the XXXX XXXX, XXXX as the XXXX, this was not his correct name, therefore those record should be voided. 
Ex.9 The issue is that the Banks have been collecting money from me for years with no legal authority to do so. They can not show supporting documents that prove they funded a loan for me, nor can they show that the rights were assigned to them by XXXX the rightful owner that was also dissolved by the SEC. The evidence is clear and needs to be verified by the authorities. My money should be refunded ASAP because of this. The sellers were involved in the XXXX XXXX Bankruptcy, and then received the bailout for the banks, its my understanding that this Asset because of the bankruptcy the debt was forgiven. 




There are no origination or loan documents for this transaction because the XXXX XXXX, XXXX was not licensed to do business in the state of KY nor the ( XXXX ) XXXX other states included. 
Ex.11 I have the original warranty deed dated XX/XX/XXXX recorded in my name from the seller. XXXX year later I have several fabricated liens and mortgages on my home but no proof of funding. XXXX XXXX assets were already in the XXXX  XXXX, in addition they received funds from the government from the bail out, these assets were written off, Again the Trustee indicated this loan was forgiven., Ex.12 I look forward to discussing this matter with someone in the department. The regulators need to see that the loan was never funded by the XXXX XXXX, the originator is no longer in existence and no other company has legal authority to file foreclosure. Again, the company was not registered or licensed in this state which causes another issue with the state XXXX. 
I am asking that someone from the XXXX Bank XXXX XXXX Department research this information and release the lien on my home immediately. 

Thanks

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation