Consumer complaint received 2024-05-17
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Loan payment wasn't credited to your account — 
Company: Royalty Lending Financial Services Inc. (CA)

This complaint is based to : An unlicensed Predator Lender Through deceptive or fraudulent actions and a lack of transparency, costing borrower financial injuries. 
2. Refuses to refund borrower after closing, sending borrower several final statements reflecting all with different amount credits/Debits including copies of False/uncashed cancelled checks to pay Property Taxes.

3.Lender with the intend to defraud borrower switch Deed of Trust for colleterial purpose with A Special warranty deed, illegally filed due to missing 3 signatures from the remainderman 's 4.Lender website is advertise with false information how to obtain a loan.

5.Lender fail to refund borrower for payments issued to other property owners with the use of borrower money.

6. Lender fail to honor promissory note loan amount, Borrower receive only partial loan 7. Lender fail to pay property taxes accruing late fees and penalties, inflicting financial injuries to the borrower 8. Lender fail to refund for the excess miscalculation of origination fees and prepayments costs deducted from the initial partially loan 9. Lender set up several Entity names, to Funnel Loan payments I contact The Colorado State Attorney website to file a complaint. While I enter the Lender informations, the result shows lender not been registered/licensed. 
here is the license number : Colorado Supervised Lender License XXXX. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. 
Royalty XXXX XXXX XXXX Colorado Supervised Lender License No. XXXX www.royaltylend.com office : XXXX XXXX mobile : XXXX XXXX. 

I found the lender searching online for Lender that will loan funds against XXXX rights royalty income. 
so I contact the Lender. I was approved on {$85000.00} loan. The lender office took 2 months to provide me with documents to sign and notarize I notice that all the dates were backdated, I sign and notarize anyway. I mailed back to the lender waited a week and I sent an email asking when will I receive the loan. He then told me me, if i want the full {$85000.00} I will need to purchase an insurance that will cover {$85000.00} premium and setup the lender with 100 % beneficiary, the office had already recorded the documents with County clerk and I still did not receive any funds. I bought/owned a XXXX life insurance since XXXX with a {$30000.00} coverage, I than added the lender to my insurance as 100 % beneficiary. On XXXX XXXX I receive {$29000.00} in my bank from the Lender. The loan was actually {$32000.00}. after 2-month prepayments, origination fees, closing costs deductions I receive {$29000.00}. For several months I communicate with the lender explaining that was a miscalculation from the loan received. 
The year of XXXX will show not as many payments received, Lender in one of the conversations, told me that because was an overpayment received from a XXXX XXXX, the royalty income check will resume when the overpayment is satisfied. No Written document or amount was provided to me, regardless how many times I asked for.

The lender website state : We don't buy properties. We help you keep your royalty. 
We want you to hold on to your royalties, and we provide a way to do that and also continue to receive some of your payments during the loan term. We return to you your excess royalty every month when your royalties exceed the loan payment. 

Comment : Lender is well experienced ; When talking on the phone or email Lender will verify that the office uses a Deed of Trust as requirement for the loan. Instead, Lender chooses to mail and have me sign and notarize a Special warranty deed. Lender after researching my deeds, knew that I could not sell/transfer over the properties because I own a Life Estate with 3 Remaindermans, meaning the 3 remaindermans needed to sign my loan as well.

Conclusion : Deed of Trust is used to repay mortgage loans, Special warranty deed is used to transfer property ownership from seller to buyer.

while properties were transferred in Lender name and property taxes bills were mailed to the lender address, Lender fail to pay property taxes, To able the counties to transfer properties back in my name they required for me to pay off all the taxes including late fees and penalties Lender charge borrower for unpaid unclear checks issued to pay Property taxes.

I called the county tax office and request XXXX and XXXX accounting of Royalty XXXX  tax payments. lender website state that Lender will pay all property taxes Lender website state the refund of monthly Excess of Royalty : " We return to you your excess royalty every month when your royalties exceed the loan payment '' Comment : I never received any of Excess of royalties other than increments of loans from the borrower excess of royalties charging interest fees on interests fees