Consumer complaint received 2024-05-23 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: SELECT PORTFOLIO SERVICING, INC.
State: CA

Complaint narrative:
COMPLAINT TO CONSUMER PROTECTION FINANCIAL BUREAU Re : XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX. ( Note : May be also confirmed with XXXX XXXX XXXX XXXX XXXX  XXXX ) This is a complaint by XXXX XXXX XXXX, an XXXX XXXX, herein as Complainant regarding his property that was maliciously taken away from him by US BANK NA, hereinafter as Respondent, who, through an invalid auction from a deceptive mortgage assignee representation, despite no evidence of such legal assignment to them US BANK XXXX TRUSTEE TO THE XXXXXXXX XXXX XXXX THROUGH XXXX XXXXXXXX. ( a discrimination complaint will also be forwarded to XXXX and XXXX complaint to XXXX ) The XXXX  facts are as follow On or about XX/XX/XXXX, XXXX XXXX XXXX purchased a real estate property ( subject property ) located at XXXX XXXX XXXX XXXX, XXXX XXXX, California XXXX, with an executed Deed of Trust as XXXX XXXX which was recorded on or about said date in the XXXX XXXX XXXX XXXX XXXX XXXX XXXX. The lender was XXXX XXXX XXXX XXXX ( XXXX XXXX and the Trustee was XXXX XXXX XXXX 

With a purported Purchase and Assumption Agreement ( XXXX ), FDIC allegedly transferred all Financial and business operations to XXXX XXXX, altghough there was the general assumption that all mortgage loans and servicing rights of XXXX was transferred to the fullest extent. still it is clearly established that nowhere could be found anyevidence, specifically on the subject mortgage loan/lien referencing XXXX XXXX XXXX XXXXXXXX through XXXX XXXX. and that there was no specific schedule referencing this subject mortgage loan corresponding on the property at XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX. 

Put simply, XXXX already died in the process without any true and valid successor in interest to the mortgage deeds as also without any assignees. This discovery was also found out in an Investigative Report that XXXX  scheme to steal XXXX mortgages. XXXX, the purported depositor was assigned a designated code on the XXXX mortgage loans so that even XXXX proceeds follow this code where funds were channeled to, not having reached FDIC, much more to XXXX XXXX XXXX confirming that FDIC never acquired any securitized XXXX loans to include that of Plaintiff on his XXXX XXXX XXXX. 

Thereafter, there was a questionable Assignment of Deed of Trust from XXXXXXXX XXXX XXXX XXXX XXXX dated XX/XX/XXXX that was robosigned, never authenticated and was hearsay. 

Subsequently, US BANK NA, AS Trustee suddenly emerged without, any evidence whatsoever as to transfer documentation link of any assignment to them and made false representations to Complainant that they became the assignee of loan on the property. XXXX as the mortgages, deeds and notes were never sold and transferred in the first place. ( It has been unknown who is the current lender/assignee with legal authority regarding the mortgage on the subject property ). It is also noteworthy that no loan assignment to US BANK was ever recorded in the XXXX XXXX XXXX XXXX. What US BANK produced was a self-serving affidavit produced after the fact by an alleged XXXX XXXX XXXXXXXX attorney and never have been presented as admissible evidence These malicious and predatory practices also fits the description of a mortgage servicing fraud as defined by XXXX XXXX XXXX XXXX  XXXX XXXX XXXX XXXX ), whereby a trust is also used as dummy conduit which did not have a perfected interest in collections that were commingled, so that the distributions on the certificates could be delayed or reduced, if there were receivership or bankruptcy, which actually happened herein. 


Despite the void and pretended loan ownership claim by US BANK and, which Complainant XXXX never admitted, Complainant XXXX came into settlement agreement on the purported loan with US BANK XXXX, AS TRUSTEE on XX/XX/XXXX, XXXX their Servicer XXXX XXXX XXXXXXXX XXXX and their then lawyer, XXXX XXXX XXXX XXXX. of XXXX XXXX XXXX XXXX, XXXX. 
Respondent US BANK did not cooperate in this regard and continued to decline to implement the settlement agreement,. Consequently, on XX/XX/XXXX, XXXX XXXX. XXXX XXXX AS SUCCESSOR TRUSTEE TO THE XXXXXXXX XXXX XXXX  THROUGH XXXX XXXX thereafter claimed ownership of Complainant Neals property through an auction. stating that they purchased XXXX XXXX XXXX property for {$1.00} in their recording of a Trustee Deed Upon Sale. If this is an alleged purchase transaction by Respondent US BANK, there should be evidence of valuable consideration actually paid by them, which was not existent, and there is no showing of any transaction in lawful exchange or payment of money in the purchase bid made by Complainant US BANK AS TRUSTEE, aside from a break of title chain from the time Plaintiff purchased the subject property in XXXX. 

Such a contradictory situation aside from its impropriety, clearly indicates a total deprivation of title ownership from XXXX XXXX XXXX, who has been the legal title holder of the subject property. Likewise, XXXX XXXX new foreclosure law as codified in CA XXXX XXXX XXXX, that became effective on XX/XX/XXXX, was patently violated and not complied with. 

US BANK NA AS TRUSTEE FOR XXXXXXXX XXXX THROUGH XXXX XXXX XXXX can not hold any valid title on the subject property from a mortgage fraud and their claim of ownership through purchase is void and of no legal merit with no legal foundation and considered pretended transactions and is considered in limbo ownership as this writing, ( XX/XX/XXXX ) Also, Please see the letter sent to XXXX XXXX XXXX XXXX of US Bank XX/XX/XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX US BANK XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MN XXXX XXXX XXXX OFFER TO BUY BACK XXXX XXXX - located at XXXX XXXX XXXX XXXX, XXXX XXXX CA Dear XXXX XXXX and XXXX XXXX XXXX I am submitting this offer to buy back the property located at XXXX XXXX XXXX XXXX that was purportedly auctioned and XXXX XXXX away from me, as recorded on the Trustee Deed Upon Sale dated XX/XX/XXXX XXXX XXXX XXXX ). Given that this property is a US BANK XXXX, which needs to be sold through your designated real estate brokers as per your financial business objectives, it is deemed best to communicate this offer directly to you and the Managing Committee. A separate letter or a copy of this letter may also be directed to the US BANK Board of Directors. Please also convey this matter to your Chief Legal Counsel if necessary, as you may also delegate it to the proper department, such as your XXXX XXXX. 

Due to the extraordinary nature of how this property was taken away through foreclosure without the necessary proof of loan ownership by US BANK, AS TRUSTEE to begin with, I deemed it best to bring this matter to your attention and the top management for a final resolution on my offer. 

Without admitting that US BANK XXXX, XXXX XXXX owned the mortgage loan, please be informed that I had come to a settlement agreement with XXXX Bank in the amount of {$1.00} XXXX on XX/XX/XXXX, with representing counsel on this matter, XXXX XXXX, XXXX, from the LAW OFFICE OF XXXX, XXXX XXXX XXXX, as they did not implement the process for US BANK TO execute the settlement agreement. 
As it is made to appear in this regard, US BANK XXXX allegedly acquired the subject property through a purchase transaction in an auction on XX/XX/XXXX, and consequently, the corresponding mortgage has been extinguished and supposedly paid by US BANK, for valuable consideration. Yet it was found out that no valuable consideration was actually ever made as payment. 

When California Gov. XXXX signed XXXX XXXX into law that was effective XX/XX/XXXX, ( as amended XX/XX/XXXX ( XXXX XXXX ) and amended XX/XX/XXXX ( XXXX XXXX ) & XXXX XXXX, the very purpose of the law is to encourage homeownership and to prevent corporations and real estate investor companies like yourself. In fact, the law was also termed as XXXX XXXX, XXXX for XXXX, Not XXXX. This new foreclosure law gives owner-occupants the priority to be retained in their homes. The highlighted specific provisions are as follows : XXXX. Prospective Owner Occupant - is a natural person who presents an affidavit or Declaration pursuant to Section XXXX of the Code of Civil Procedure that A. That they will occupy the property as their primary residence within 60 days of the Trustee Deed being recorded. 

B. Will maintain their occupancy for at least XXXX year. 

XXXX. Eligible Tenant Buyer is a natural person who at the time of the trustee sale A. Is occupying the property as their primary residence. 

B. Is occupying the property under a rental or lease agreement entered into as a result of an arm's-length transaction with the mortgagor or trustor on site prior to recording of NOD XXXX. Eligible Bidder- means any of the following A. An eligible tenant buyer B. A prospective owner-occupant XXXX A nonprofit association, nonprofit corporation, or cooperative corporation, XXXX which an eligible tenant buyer is a voting member or XXXX. 

XXXX An eligible nonprofit corporation with all of the following attributes ( XXXX ) XXXX of the primary activities is the development and preservation of affordable rental ( v ) is registered in good standing with the Attorney General XXXX of Charitable Trusts pursuant to the Supervision of Trustees and Fundraisers for Charitable Purposes Act of Chapter XXXX of Part XXXX of Div XXXX of Title XXXX of the Government Code. 

XXXX XXXX eligible nonprofit corporation with all of the following attributes.. 

( iv ) XXXX of the primary activities is the development and preservation of affordable rental ( v ) is registered in good standing with the Attorney General XXXX of Charitable Trusts pursuant to the Supervision of Trustees and Fundraisers for Charitable Purposes Act of Chapter XXXX of Part XXXX of Div XXXX of Title XXXX of the Government Code. 
Here, there was also a clear violation of XXXX XXXX, especially that US BANK has been holding unlawfully the subject property for almost XXXX years now, since XX/XX/XXXX, when it should be conveyed to an eligible buyer and/or owner-occupant, as hereby pursuant to this new foreclosure law. This will also, among other reasons, invalidate the auction sale and cancel the Trustee Deed Upon Sale to US BANK, NA. 

Please be informed that I have been relentless in fighting for my lost property in a long legal battle for so many significant years. Since US BANK XXXX is a financial institution not in the business of real estate, it follows that the subject property will be sold at some point in time from your end. Yet any brokerage listing outside of the property, not being sold back to me, will be blocked further, as I will continue to pursue my claim, if necessary, even to the extent of bringing the matter to the appropriate government entities. I have likewise sought investigative assistance in tapping forensic audit trails via electronically stored information that will shed light on my claim on this matter, within the principles of e-discovery. For more information reference, I have enclosed a XXXX of Facts on the XXXX XXXX. ( Attachment XXXX ) In closing, I am hopeful that this matter can be resolved, and that my offer in the amount of XXXX XXXX, XXXX XXXX XXXX ( $ XXXX ) dollars, to purchase the above-mentioned property be finally executed. I would appreciate your immediate professional attention and cordial response within 10 days from the date of this letter. 

Respectfully yours, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Tel Nos. ( XXXX ) XXXX ( XXXX ) XXXX Email : XXXX cc. XXXX XXXX XXXX Comptroller of the Currency Consumer Financial Protection Bureau

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