Consumer complaint received 2015-09-02
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account — 
Company: Caliber Home Loans, Inc. (CA)

I 'm filing a complaint surrounding violations to the terms of the National Mortgage Settlement ( NMS ). This matter is also consistent with violations identified within the California Bill of Rights ( CBOR ) specifically designed to protect homeowners from lender abuse and negligence. As part of a Nationwide reform which forced XXXX XXXX XXXX ( XXXX ) to comply and implement specific servicing standards requiring a single point of contact, adequate staffing levels and training, better communication with borrowers, and appropriate standards for executing documents in foreclosure cases, ending improper fees, and ending dual-track foreclosures for many loans.While my loan was being serviced and owned by XXXX, my loan modification was approved for recapitalization on XXXX XXXX, XXXX. At the time of the approval our loan was delinquent for approximately $ XXXX fact this was primarily due in part to the implementation of both the XXXX and XXXX was XXXX of the reasons that we chose to make three consecutive payments of {$2800.00}, paid XXXX XXXX, XXXX, XXXX XXXX, XXXX and finally on XXXX XXXX, XXXX. ( See Exhibit " A '' proof of payments ) Once my XXXX payment was posted to XXXX on XXXX XXXX, XXXX, my loan was immediately sold to an entity by the name of XXXX XXXX, on XXXX XXXX, XXXX and subsequently transferred to Caiber Home Loans ( CHL ) on XXXX XXXX, XXXX, from XXXX. ( See Exhibit " B '' Mortgage Transfer Notice Dated XXXX XXXX, XXXX ) In addition a qualified written request QWR, was served against CHL on XXXX XXXX, XXXX, for aforementioned mortgage. CHL 's office, has failed to provide requested documentation, that furnished the XXXX Letter as required by the industry during the sale or transfer of debt along with any associated addendum 's to the promissory note ( to include the allonge ). The provisions set forth by TILA, 15 U.S.C. 1641 ( f ) ( 2 ), require the creditor, new owner or assignee of the debt to notify the borrower in writing of such a sale or transfer. Additionally and to further support the request, the Uniformed Commercial Code ( UCC ) also requires that " within 30 days of each assignment, transfer, or sell, the assignment of true sale must be recorded under States ' statute. The dates of the allonge endorsement ( s ) and the notarized assignment ( s ) must match to prove true sales before a foreclosure can legally occur. '' The fact that the loan was sold in the middle of our transaction with XXXX, we believe directly contributes to the overall miscalculations and misapplication of payments and amounts.Furthermore according to the records and conversations provided by CHL 's loan modification department, they allegedly procured a permanent loan modification which is perceived to follow the terms set forth under the NMS. This loan modification offered by CHL, is alleged to be as a result of making our payments of {$2800.00} in 3 consecutive payments.The problem is that not only were we paying toward 3 trial modification payments under the making home affordable ( MHA ) program, which should have been accompanied with a principle reduction based on the National Mortgage Settlement ( NMS ) of XX/XX/XXXX. The calculations have added additional unfounded, exacerbated, with unexplained amounts factored into an outstanding excessive balance in the amount of {$720000.00}. Our loan was not as far behind as these calculations represent at unpaid amounts of {$270000.00}. This modification offer is a bait and switch from what was originally supposed to be offered by BAC, and the terms of NMS and CBOR. This is simply a ploy for BAC, to avoid from granting us reliefs infused into the terms of the NMS and CBOR as such. Immediate aid to homeowners, in dire need of loan modifications especially loan which originated with Negative amortization features undisclosed to unsuspecting XXXX time homeowners.