Consumer complaint received 2020-10-27
Product: Debt collection — Mortgage debt
Issue: Attempts to collect debt not owed — Debt was result of identity theft
Company: PENNYMAC LOAN SERVICES, LLC. (MI)

Dear CFPB, Please find my complaint against PennyMac ( a fake Servicer of non-existing " loan '' ) and their Master, XXXX  XXXX XXXX, member of Federal Reserve, who operates a massive scam with so-called " mortgage backed securities '' - aka derivatives based on my stolen identity and information about my loan which are issued by Federal Reserve and its subsidiaries, XXXX XXXX XXXX and XXXX XXXX XXXX, who are the actual issuers of all non-mortgage backed and other fictitious securities. 

PennyMac is a group of low capitalized criminals from Countyrwide Finacial who were renamed as " PennyMac Financial " by XXXX XXXX XXXX, a fictitious " buyer '' of non-existing " default debt '' from Fannie Mae ( whose President Mr. XXXX XXXX XXXX is a founder of XXXX, XXXX ) and other XXXX  who never owned this " debt '' to sell it to anyone. 

Another part of XXXX XXXX,  XXXX, is now acting as XXXX XXXX XXXX, XXXX and serves the same purpose pretend to be " lenders '' ( without money ) and " servicers '' of non-existing accounts which are not on any Company 's ledger. 

Neither XXXX or XXXX never lend any money to any homeowner ; and never serviced any " Trusts '' -for two reasons. First, here are no Trusts for them to service ( all so-called " securities '' are issued by Federal Reserve member, XXXX XXXX XXXX and its branch, XXXX XXXX XXXX  via Federal REserve book-entry system on Street 's name. See XXXX XXXX Prospectus ; and XXXX bogus " settlements '' -which are ALL done via book-entry system operated by Federal Reserve and DTC. 

Second, nobody needs XXXX or XXXX 's " services ''. Everything is done by other parties - Transcentra/Regulus ; XXXX XXXX XXXX XXXX ( XXXX ) and XXXX, XXXX ( XXXX ) who are the actual servicers of information about loans sold to investors as derivatives issued on street name via Federal Reserve book entry system, as defined in XXXX XXXX ' prospectus. 

This " securitization '' scam is a fiction from the beginning. The Elephant in the Room is Federal Reserve, a self-regulated private corporation owned by eight families who own America.The families are : the XXXX XXXX XXXX XXXX, XXXX XXXX  XXXX XXXX XXXX XXXX XXXX ; the XXXXXXXX XXXX XXXXXXXX XXXX  XXXX ; the XXXX XXXX XXXX ; the XXXX XXXX  XXXX ; and the XXXX XXXX XXXXXXXX XXXX  XXXX. 

So, no surprise that when XXXX XXXX recently looted XXXX from over {$16.00} billion, American Government did NOTHING to stop them.

Big Banks are all members of Federal Reserve and so-called " loans ''

are coming from common operating pools held by Big Banks and not related to any investors. GSEs are acting as cover up with " guarantees '' on non-existing loan accounts ; have no idea to whom they " guarantee '' payments ; and only have information about so-called loans provided to them by Big
Banks via XXXX  which is operated by XXXX XXXX, XXXX XXXX XXXX. 

Everything in XXXX XXXX 's Prospectus is in Future Tense : XXXX, SHALL, XXXX - IF a condition precedent would happen. In other words, XXXX  XXXX purchase loans - IF here is someone who can sell them. But here is NO ONE who can sell " loans '' to GSE to guarantee. If here are no loans, here are no guarantees. 

Federal Reserve created a scheme where so-called " securities '' are " issued '' in the book-entry system on street name by its member, XXXX XXXX XXXX, the biggest clearing house in the World with more than {$1.00} Quardillion of transactions. 

ALL securities are placed with the only one beneficiary - XXXX  'XXXX  branch XXXX XXXX XXXX who is the sole beneficiary. 

Here are NO Trusts, no Trustees, no guarantees and no servicers. Everything PennyMac tells in their responses is a lie to cover for the real parties - Federal Reserve and its members Investment Banks - who pay PennyMac small fees to pose as " Lenders '' and " servicers '' of non-existing loan accounts.

Investors ( mostly Pension Funds ) buy derivatives offered by Big Banks, issued by XXXX  on Street name. 

Nobody buy or sell any loans because these " loans '' were one-time payments to potential borrowers who were drafted in Big Banks Ponzi scheme as original issuers of security called " Promissory Note '' - which was converted into an image ; placed into XXXX XXXX/XXXX  document depository ; assigned to XXXX XXXX XXXX  as an owner - and sold to investors as a derivative to some non-existing " asset '' owned by XXXX XXXX XXXX. 

All mortgage and escrow payments are pocketed by Big Banks as tax-free revenue. All Property taxes, insurances and so-called " servicer 's advances '' are paid from operating funds collected from investors money. In other words, Michigan Public Employees Pension Funds who invested {$2.00} XXXX pension money in some shady " securities '' issued by very shady XXXX XXXX Corporations who refused to disclose its income to SEC, pay 10 % +interest return to themselves from their own money, aka Ponzi Scheme The Government knows about it and keep quiet because Federal Reserve ( which is not Federal and not a Reserve ) and its members Big Banks own the Government and everything else in America . 

PennyMac lie about their " Issuer '' status as well as about their " ownership ''. The Issuer and owner of DATA about " loans '' is Federal Reserve and their members, DTC and XXXX XXXX XXXX. 

XXXX XXXX 's Prospectus states as following : The Government National Mortgage Association Guaranteed XXXX XXXX XXXX XXXX, which will be sold from time to time in one or more series represent undivided ownership interests in Series Trust Funds ( each, a Series Trust Fund ) established from time to time.

The key word " WILL be '' sold and represent ownership " established from time to time ''.

In other words, PennyMac can ONLY buy a certificate issued by
Federal Reserve - but not anybody 's loan which XXXX XXXX never had - and receive an interest payment which is solely based on discretion of XXXX Bank who operates the Scheme. Which according to XXXX XXXX is Federal Reserve Bank of New York.

According to Prospectus It is uncertain when payments will be made on your securities. Payment of the outstanding principal amount, including accrued interest, on the securities is guaranteed by XXXX. The timing of any payment of principal and interest, however, is uncertain. 
Forms of XXXX XXXX XXXX XXXX ; Book-Entry Procedures Each XXXX XXXX XXXX XXXX initially will be issued and maintained in Book-Entry Form through the book-entry system of the U.S. Federal Reserve Banks ( the XXXX Book-Entry System ) .Each XXXX XXXX XXXX Series initially will be represented by one or more certificates registered in the name of the Federal Reserve Bank of New York ( together with any successor or other depository selected by XXXX XXXX XXXX the Depository ). This Base Offering Circular refers to those whose names appear on the Register as registered holders of the XXXX XXXX XXXX XXXX ( which will include the Depositorys nominee, XXXX XXXX XXXX, and any registered holders of Certificated XXXX XXXX XXXX XXXX ) as Holders of those XXXX XXXX XXXX XXXX. 
The XXXX Book-Entry System is an electronic facility operated by the U.S. Federal Reserve Banks for maintaining securities accounts and for effecting transfers. The XXXX XXXX system is a real-time, delivery-versus-payment, gross settlement system that allows for the simultaneous transfer of securities against payment. The XXXX Book-Entry System is used to clear, settle and pay not only XXXX XXXX XXXX, but also all U.S. Treasury marketable debt instruments, the majority of book-entry securities issued by other government agencies and government sponsored enterprises and the mortgage backed securities issued by the Fannie Mae or XXXX XXXX. 
XXXX ownership of a XXXX XXXX XXXX XXXX XXXX will be subject to the rules and procedures governing the Depository and its participants as in effect from time to time.

Since Federal Reserve, XXXX and XXXX XXXX XXXX are non-regulated ( self-regulated entities ), here are no rules or procedures governing them, and no one who can control them. I many times contracted CFPB which is an agency chartered with the responsibility to protect me.CFPB always closed my complaints, without ANY investigation.
As a result of CFPB 's failure to adequatelyresearchand investigatethe banks, CFPB isallowing and encouraging disinterested parties to enter into the lending business without being subject to law enforcement or regulation intended by both Congress and state legislatures.
The perpetrators have deep pockets and take advantage of the expense and time required for litigation.

I am just a poor homeownerwho relieson agencies like CFPB to level the playing field.

As a direct and proximate result of the above. I am being injured financially, personally, emotionally, mentally and physically -- - having to master subjects that only the most sophisticated investment bankers could ever understand. I am being forcedto deal with highly criminal impersonators - who
pretend that the " own '' a loan which they never did since the " loan '' was in fact a payment to me for participating in Big Banks Ponzi Scheme ; and defend claims without merit.

CFPB have received hundreds of thousandsof complaints, emails and announcements and notices revealing the fraudulent nature of nearly all residentialloans. Yet CFPB engage in " settlements '' that ratify and encourage this criminal behavior.

Apparently for purely political reasons CFPB continue to treat the servicers as authorized agents and even settle with them including terms that no serviceis authorized -- - to offer enforceable
modification agreements.

Apparently for purely political reasons CFPB refuse to acknowledge what nearly everyonenow knows and at least partially understands, to wit : that investment banks have been and continue to tender loan agreements in bad faith throughintermediaries with the goals of not being identified or regulated as a lender and not having the homeowner transaction show upin their reporting.

As a direct and proximate result of CFPB failure and negligence in enforcementof presently existing laws investment banks have further
initiatedmillions of foreclosures for the sole purpose of increasing their profits from false claims of securitization residential loans. ( 1 ) Those loans were never sold or securitized. ( 2 ) All claims of authorization and ownership and rights to enforce derived from apparent securitization are false.

I was lured by false pretenses and lulled into the falseimpression of it being a loan of money with a creditor and loan account that was required to be paid.

The true nature of the transactionwas that my signature on a note and mortgage was the launchingpoint of a scheme to issue securities whose existence and value was derived on bets about reports on data about my loan and not based upon ownership or collection of payments from my loan.

Contrary to the requirements of the Federal Truth in lending Act, there was no disclosure of the participation of the investment bank that was funding the transaction ( usually with borrowed money ) and that was managing the afterbirth which includes administration,
collection and enforcement of a nonexistent loan account, nor any clue or disclosure as to the enormous revenuesgenerated from the securitization scheme that depended entirely upon my signature.

The consideration I received for my participation in the hugely profitable securitization scheme was XXXX becauseI was involuntarily drafted into the securitization scheme by outright lies and deception.There is no company in existence which is carrying my loan account as a receivable or other asset on its balance sheet. There is no loan account. There is no owner of the loan account and hence no creditor who could be financiallyinjured by any announcement of a lack of voluntary or involuntary payment. There is no creditor who is
madewhole by foreclosure -- - only an investment bank hiding behind several layers of companies who are all feeding off of the chum of the most important asset in my financialportfolio -- - in which no other company has an actual confirmable financial interest relating to what was promoted as a loan.

The foreclosure scheme is anotherPonzi scheme that drains each individualhomeowner and our society solely to satisfy greed of investment bankers.

It is happening because CFPB is not performing its task as assigned by its charter. It will continue to happen until CFPB does its job.

I am in doubt as to my rights because the CFPB insists on proceeding as though the loans and foreclosures are real financial events in the real world while the foreclosures actually result in payment to companies other than the named Plaintiff/claimant/Beneficiary. In essence CFPB is creating precedent which is translated into law. 
By forcing me and otherhomeowners and Pension Funds ( particularly MI pensioners ) to attempt to defend againstsmoke and mirror claims offered by lawyers hiding behind litigation immunity on behalf of unnamed parties who individually, jointly andseverallyenjoy undisclosed revenues and profits from foreclosures at the expense to any reduction of debt after receipt of voluntary and involuntary payments, I have been forced into the untenable situation in which the strategy of the investment banks is simply to outlast and outspend the homeowner faced with losing their home to a named fake " servicer '' that will never get legal title nor the proceeds of any sale.

Moreover, Federal Reserve, the real party behind this Ponzi Scheme, purportedly " buy '' XXXX XXXX securities ( read : adjust XXXX XXXX XXXX XXXX and XXXX 's database with the new information ) - while XXXX continues to lie about their status as " owner '' ; " issuer '' and " servicer '' by merely presenting me falsified " financial statements '' which were either fabricated by PennyMac or provided to them by XXXX XXXX or XXXX. 

I demand CFPB, DOJ, MI XXXX and XXXX to conduct FULL investigation against XXXX ; XXXX ; XXXX XXXX, XXXX, and the Investment Bank ( here XXXX  ) ; ; the name of the " Seller '' of my loan to XXXX ; compensation {$130000.00} for damaged Title ; treble damages for fraud ; treble damages for racket ; and {$50.00} XXXX for extreme emotional distress.