Consumer complaint received 2017-06-07
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (CA)

( XXXX XXXX ) Re : Loan No. XXXX Dear Since the Law Firm " XXXX XXXX '', is not part ofBank Of America 's Legal Department, I am not prepared to confer with XXXX XXXX XXXX. regarding the complaint ( s ) I have filed and continue to do so Especially since he does attach the title of " Esquire '' or '' Counselor At Law '' to his name, nor does he say whom he represents within the Top Executive Level of the Institution. <P/> I will do as Chief U.S. District Court Judge XXXX XXXX Advises in his article entitled : The Financial Crisis : Why Have No High-Level Executives Been Prosecuted? ( XXXX XXXX XXXX  XX/XX/XXXX ) One can not represent a corporation or a government entity, says Judge XXXX, and I agree : The reasons, he says, are obvious. <P/> " Companies do not commit crimes ; only their agents do. And while a company might get the benefit of some such crimes, prosecuting the company would inevitably punish, directly or indirectly, the many employees and shareholders who were totally innocent. '' Moreover, under the law of most US jurisdictions, a company can not be criminally liable unless at least one managerial agent has committed the crime in question ; so why not prosecute the agent who actually committed the crime? '' That Agent is none other than the Chairman of the Board and chief Executive Officer of Bank of America, XXXX XXXX XXXX. <P/> It is he, therefore, to whom my response is Addressed. <P/> First of all, my spouse and me already had Clear Title to the requisite property at XXXX XXXX XXXX XXXX XXXX , CA. XXXX. I refer you to U.S. Chapter XXXX Bankruptcy Case No.XXXX. <P/> On XX/XX/XXXX, the court Entered Judgment : An Order of Discharge, Release of Lien and all Encumbrances. <P/> In addition, on the same date, a '' Deed of Reconveyance '' was recorded by the Creditor in the case, " XXXX XXXX XXXX XXXX. '' It was simply honoring the Rule of Law relativeto Satisfaction of Mortgage. <P/> " Financing or refinancing of real property is generally accomplished in California through a deed of trust. <P/> The borrower ( trustor ) executes a promissory note and deed of trust, thereby transferring an interest in the property to the lender ( beneficiary ) as security for repayment of the loan. <P/> The deed of trust is recorded to give notice to future lenders and purchasers that the property is encumbered by an outstanding loan. <P/> Legal title to the property is held by a trustee until the loan is repaid in full. <P/> When the beneficiary receives full repayment, it is obligated to execute a request for reconveyance and deliver it to the trustee, who is then obligated to record a full reconveyance within 21 days ( unless it receives contrary instructions from the trustor or his escrow ), thereby delivering clear title back to the property owner. '' The above comments made during an appeal court 's examination of two appeals.These two appeals arise out of an action by four individual plaintiffs : " Court of Appeal, Fourth District, Division 3, California. <P/> XXXX XXXX et al., Plaintiffs and Appellants, v. XXXX XXXX XXXX et al., Defendants and Appellants. <P/> XXXX XXXX et al., Plaintiffs and Appellants, v. XXXX XXXX XXXX et al., Defendants and Appellants. <P/> Nos.XXXX, XXXX. Decided : XX/XX/XXXX ''. <P/> The point of this ruling is that a Deed of Reconveyance is due a so-called borrower upon payment in full of a Mortgage Loan. <P/> " The above legal definition found in appeal ( s ) against XXXX XXXX XXXX and XXXX XXXX XXXX for " failure to reconvey their trust deeds as required by Civil Code section 2941. '' The Illegal Mortgage Lender from whom Countrywide Loans abductedthe Invalid, fake Mortgage transferred is XXXX XXXX XXXX, headed by then CEO XXXX XXXX. <P/> By attaching yourself as the link in a False Chain of Title you are complicit, CEO XXXX, in Violation of the " Bankruptcy Discharge Injunction : " 11 U.S. Code 524 - Effect of discharge ( 1 ) voids any judgment at any time obtained, to the extent that such judgment is a determination of the personal liability of the debtor with respect to any debt discharged under section727,944,1141,1228, or1328of this title, whether or not discharge of such debt is waived ; ( 2 ) operates as an injunction against the commencement or continuation of an action, the employment of process, or an act, to collect, recover or offset any such debt as a personal liability of the debtor, whether or not discharge of such debt is waived ; and ( 3 ) operates as an injunction against the commencement or continuation of an action, the employment of process, or an act, to collect or recover from, or offset against, property of the debtor of the kind specified insection 541 ( a ) ( 2 ) of this titlethat is acquired after the commencement of the case, on account of any allowable community claim, except a community claim that is excepted from discharge under section 523, 1228 ( a ) ( 1 ), or 1328 ( a ) ( 1 ). '' In plain language, violation of the discharge injunction applies when a loan is paid in full in bankruptcy, and a lender defies it. <P/> XXXX XXXX and XXXX XXXX did not ratify our Deed of Reconveyance by Assigning it to anyone. <P/> For thefalsification of requisite instruments, willfully and knowingly, The Top Executive ( s ) of XXXX XXXX XXXX and Bank of America Violated the Discharge Injunction. <P/><P/> " VIOLATING A DEBTORS DISCHARGE INJUNCTION : LENDERS BEWARE '' An analysis by XXXX XXXX XXXX in " THE BANKING LAW JOURNAL '' The Bankruptcy Code provides, according to the author, that a discharge : Operates as an injunction against the commencement or continuation of an action, the employment of process, or an act, to collect, recover or offset any such debt as a personal liability of the debtor. <P/><P/> Once a debtor obtains a discharge in bankruptcy, advisesLichtenstein, creditors can no longer seek to collect on debts that were discharged. <P/> This prohibition constitutes a permanent injunction as supported by the legislative history. <P/> Once the discharge is entered, no debts that were discharged may be collected ever. <P/><P/> But In defiance of such warnings, the two banks referenced above defied the injunction. <P/><P/> " Failing to adhere to, or simply ignoring, a notice of a debtors discharge injunction can often lead to the imposition of sanctions, including punitive damages. These kinds of violations, even though not malicious in nature, are frequently deemed to be willful and can be easily avoided. The author of this article discusses bankruptcy discharges and the perils of violating discharge injunctions. ( XXXX XXXX XXXX*/XXXX XXXX XXXX ). '' Secondly, by refinancing the loan, we are entitled to file Amended Tax Returns based on the payment of our " loan '' in full. Instructions for form XXXX will illustrate that we are entitled to claim prepaid mortgage interest, points and payment of Mortgage Insurance premiums. <P/> We filed forms XXXX in XX/XX/XXXXand in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXXand XX/XX/XXXX.We also turned over five amended tax returns to the U.S. Chapter XXXX Trustee, XXXX XXXX XXXX  , on XX/XX/XXXX in case No. XXXX One of hose claims was for this transaction. <P/> But the records you sent my spouse and I clearly certify that Bank of America 's Top Executive did not file the requisite tax forms : This is tax evasion and Criminal liability. <P/> 1. XXXX XXXX XXXX-INT ( Interest Income ) 4. XXXX-DIV ( Dividends & Distributions 5. XXXX Schedule A ( Lines 11, 12, 13, and 14 ) In addition, you constructed an Allonge note equal to the Principal of the loan, without ourknowledge or consent. <P/> By deceiving my spouse and me to become convincedthat we still were required to make payments on a nonexistent obligation, XXXX XXXX XXXX acted in Criminal Violation of the law. <P/> Before XXXX or Bank of America proceeded to attach a loan obligation to us, therefore, each of them should have consulted the County Recorder 's Record, as required. <P/> " Before purchasing property, the purchaser will usually hire a title companies or abstractors to search out the chain of title and provide a report so that a purchaser will be assured the title is clear of any claims. <P/> In many real estate transactions, insurance companies issue title insurance based upon the chain of title to the property when it is transferred. '' The preceding language is part of the explanation as to the Legal Definition of a Chain ofTitle : " Chain of title refers to the history of passing of title ownership to real property from the present owner back to the original owner. A record of title documents may be maintained by a registry office or civil law notary. <P/> Chains of title include notations of deeds, judgments of distribution from estates, certificates of death of a joint tenant, foreclosures, judgments of quiet title, and other recorded transfers of title to real property. '' ( XXXX XXXX XXXX ). '' At the time of the transaction by the two banks in assigning a False Deed of trust, both violated the Rule of Law relative to dishonoring a Deed of Reconveyance. <P/><P/> " If you have no Deed of Reconveyance a assigned to you by my spouse and I, ashomeowner ( s ), and since we possessed a Deed, your firms violated our rights. <P/> Prior to XX/XX/XXXXthere was no specified time period within which a reconveyance had to be recorded after full payment of the loan. <P/> Apparently, lenders were not particularly diligent in ensuring reconveyances were executed and recorded once their loans were satisfied despite civil penalties for failure to do so. [ Citation. ] The problem was apparently particularly acute with large commercial lenders with in-house trustee departments. <P/> [ Citation. ] As a result many property owners experienced problems selling and clearing title to their property [ ] Title insurers experienced problems of their own. During this period these companies employed staff [ in some instances, up to 50 percent of their employees ] for the sole purpose of confirming old loans appearing as liens against real property had in fact been paid off [ ] Consumers made numerous complaints to the Attorney General 's office [ leading to proposed changes to section 2941. ] [ ] In its current form, under section 2941 lenders and trustees are subject to both civil and criminal penalties for failing to comply with the statutory deadlines for effecting reconveyances. ( Id. at ppXXXX XXXX XXXX XXXX XXXX. ) Andif you choose to deny this, consider the ruling a federal Judge handed down less than a month before you sent the response to my complaint. <P/> " XX/XX/XXXX Bank of America Ordered to Pay $ XXXX in Wrongful Foreclosure Case ( Case Number : XXXX Filed : XX/XX/XXXXDoc # XXXX ) A federal bankruptcy court judge in California recently ordered Bank of America to pay a stunning {$46.00} in damages after a years-long foreclosure nightmare that literally pushed one couple to the brink of death. <P/> The pair won their case against the bank four years ago, but that violation of the bankruptcy stay had to be decided in federal bankruptcy court. This was Judge XXXX ruling on it a 107-page opinion that detailed all the wrong homeowners suffered as a result of the banks intentional conduct andwrongful foreclosure. <P/> In theruling, Bankruptcy Judge XXXX XXXX XXXX  admonishes the top brass at the bank not lower-tier workers. Further, the ruling is being interpreted as a sharp condemnation of the failure of government to policethese types of interactions and protect homeowners even though banks should have beenvulnerable to legal action on a massive scale for the actions leading to the foreclosure crisis and those that followed thereafter. <P/> As the judge made clear, this was not a few bad employees. This was not accidental. It was intentional misconduct perpetuated by the very top brass in this organization and it wasnt isolated either. For this, the judge sanctioned the bank with {$45.00} million in punitive damages '' In conclusion, Bank of America CEO XXXX XXXX XXXX, your actions in violating our rights means that had you not perpetuated the violation by XXXX XXXX XXXX, no foreclosure would have been Imminent Furthermore, had you filed the requisite forms XXXX, XXXX ( s ) XXXX schedule A, we would have been able to report the amounts we paid on this Illegal Loan, and receive our tax refunds, for which we filed claims, in a much more timely manner. <P/> Before I made a proposal as toapplying {$25000.00} to what you areliable to pay us. <P/> Now, the amount has doubled to {$50000.00}. Of Course, you owe us much more than that. Again, the longer you stall, the interest and principal compound The longer you evade the filing of taxes and reporting your income, the greater the chances of stiffer penalties and jail time. As Judge XXXX XXXX says : " In conclusion, I want to stress again that I do not claim that the financial crisis that is still causing so many of us so much pain and despondency was the product, in whole or in part, of fraudulent misconduct. But if it wasas various governmental authorities have asserted it wasthen the failure of the government to bring to justice those responsible for such colossal fraud bespeaks weaknesses in our prosecutorial system that need to be addressed. '' Sincerely, XXXX XXXX