Consumer complaint received 2020-11-09 00:00:00
Product: Debt collection — Mortgage debt
Issue: Attempts to collect debt not owed — Debt was result of identity theft
Company: PENNYMAC LOAN SERVICES, LLC.
State: MI

Complaint narrative:
Dear CFPB, ( cc : Congress, Senate, public media sources, consumer complaints sites, a AG offices, Courts and Judges, XXXX XXXX, President of MI XXXX XXXX XXXX XXXX CEO, XXXX XXXX, CFO, who in XX/XX/XXXX invested {$400.00} XXXX of MI public  employees pensions ( including XXXX and its analyst XXXX XXXX XXXX pension in XXXX and XXXX, fictitious " buyers '' of non-existing " default debt '' ( aka bets on thin air backed images about some DATA about performance of someone ; s loan ; victims of fraudulent foreclosures ) Please find my Complaint against fictitious " Servicer '' of my " loan '' and " owner '' of my purported " debt '' PennyMac Loan Services  , LLC ( former XXXX XXXX ) who on XX/XX/XXXX initiated an illegal collection from me acting under glimpse of " buyer '' of my " loan '' from someone whom PennyMac was not able to identify. According to the prior fictitious " Servicer '', XXXX XXXX XXXX, XXXX ( former XXXX XXXX ), they merely " transferred servicing rights '' to PennyMac - without any evidence of any sales or actual transfers. 

According to XXXX, they became " servicers '' of my loan in XX/XX/XXXX, after my purported " Lender '' XXXX XXXX  passed to XXXX  " servicing rights '' after my loan was purportedly " sold '' by XXXX to someone whom nobody can identify. Nobody can provide any proof of this sale by XXXX either. 

According to public records, Federal Reserve ( the actual party who operates this scam ) " purchased '' over {$2.00} Trillion of ficitious " mortgage backed securities '' from XXXX XXXX ( operated by XXXX, XXXX founder XXXX XXXX ), XXXX XXXX and XXXX XXXX - which Federal Reserve " assigned '' to XXXX XXXX ( who is actually a part of Federal Reserve ) Yet, PennyMac, who never lend any money to anyone, never serviced anyone 's loan and does not even own its Company, continues to lie that PennyMac has some relationship to my loan ( " owns '' is which is a flagrant lie to Federal Authorit Based on investigation of all FACTS, I became a victim of a biggest economic fraud operated by Federal Reserve ( read : XXXX XXXX XXXX XXXX XXXX , XXXX  XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX, ect. ) who use table funding money to initiate transactions masquerades as loans via sham conduits ( since XXXX ALL so-called " loans '' are originated via XXXX XXXX XXXX XXXX and XXXX  XXXX XXXX XXXX who simultaneously sell fake " Title Insurances '' to Big Banks ' crime victims though their own sham conduit who deceptively pose as " issuer '' of title policies - which these sham conduits never issued. 

My transaction was initiated by XXXX XXXX , XXXX with help from CoreLogic after I submitted an application for a LOAN via XXXX XXXX  , XXXX who falsely posed as a Lender. XXXX never was a lender and my transaction was not a mortgage loan. 

A group of Big Investment Banks ( Federal Reserve ) passed me one-time payment for financial services ( to wit : issue of Promissory Note and Mortgage which Federal Reserve convert into IMAGES sold to investors as derivatives ( contracts with XX/XX/XXXX who is a SOLE owner of ALL public stock in the US. 

XX/XX/XXXX used table funding pool ( illegal in California ) where my PAYMENT for SERVICES was passed to me from XX/XX/XXXX to XXXX XXXX XXXX via XXXX XXXX XXXX , XXXX via fake " lender '' XXXX who never funded or services any loans. 

After I performed my part of this agreement - signed a Promissory Note- it was transferred to Federal Reserve partner, XX/XX/XXXXXXXX who converted my Promissory Note into IMAGES backed by DATA about my loan, which was placed with XXXX XXXX XXXX ( FR 's version of MERS. While MERS fictitiously " owns '' all mortgages as a mortgagee, Cede fictitiously owns all publicly traded stocks in America, which are not backed by ANYTHING except nice-looking IMAGES about performance of someone's DATA about some " loan '' on XXXX 's computer screens. 

Investors never purchase any mortgages or Notes, they are not even allowed by XXXX XXXX to purchase anything except CONTRACTS with XX/XX/XXXX based on derivatives ( bets ) based on information about someone's loan. Which is a text-book fraud and identity theft. 

After Promissory Notes and Mortgages are scanned and downloaded into XXXX XXXX , XXXX ( XXXX ) and XXXX ( XXXX XXXX ) systems, the actual copies of documents are destroyed to allow several different parties to trade ( receive bets ) the same DATA at the same time. In other words, my signature on Promissory Note scanned into IMAGES placed by XXXX withXX/XX/XXXX brought Federal Reserve owners ( XXXX XXXX, XXXX, XXXX, XXXX - from XXXX to XXXX times profits - while I have to return my only payment ( {$130000.00} ) plus interest which is ALL pocketed by Federal Reserve members who operate this scam, as their tax-free revenue. My escrow money are pocketed, too. All taxes and insurances are paid by Stockbrokers from operating pools collected from investors after sales of derivatives backed by my data. 

XX/XX/XXXX aka Federal Reserve ( which is basically the SAME company ) are modern Con Artists who use advanced and improved collection of old tricks used by various con artists, and fraudsters in the past. They just inserted more intermediaries to avoid risks Modern Con Artists created sham companies ( MERS and Cede ) who " OWN '' EVERYTHING in America - for the benefit of XXXX XXXX aka XXXX  XXXX  who consists of the same XX/XX/XXXX whom they " regulate '' NOTHING new - except technology and the scale of this fraud. 

This mass scam became available after XXXX launch of XXXX and XXXX XXXX which provided unprecedented opportunities to defraud investors en mass. 
In order to keep this scam working, Big Banks must initiate foreclosures where the main objective is to ( 1 ) launder fatally broken Titles through the Court : ( 2 ) refuse to pay investors under glimpse of " failure of the borrower '' to pay ( lie ) ; ( 3 ) initiate a new scheme with a new prey to sell more IMAGES about performance of DATA about someone's home while engineer new defaults ; ( 4 ) receive money from insurers for non-existing losses based fabricated defaults ( see {$50.00} billion baiout to AIG which went to XXXX XXXX as pure profit for fabricated by GS " defaults '' of DATA ; ( 5 ) launder money via american housing market ; ( 6 ) evade taxes ; ( 7 ) receive tax-free profits from illegal foreclosures based on forged by XXXX XXXX 's documents. 

Here is how it works : Big Banks ( aka Federal Reserve ) pass money from their table funds not attached to any mortgages. Than more I research this issue, than more it appears that the source of funding is Federal Reserve table pool owned by several Big Banks ) These money are passed to borrowers via sham conduits who never had any own money and who do not even own their companies. As PennyMac 's prospectus says, the owners of their company are XXXX XXXX ( whose founder XXXX XXXX is now President of XXXX XXXX ) and XXXX XXXX XXXX fictitious " buyers '' of non-existing default debt. 

Based on most recent SEC filings, one of new major owners of PennyMac is XXXX XXXX. ALL my payments are collected and processed by XXXX and cashed by XXXX  XXXX XXXX via Federal Reserve. 
So, PennyMac not only never " owned " of anyone 's debt, never serviced any " mortgages '' and not even own of its company. It is owned by " underwriters '' = Big Banks. 

Shame " lenders '' ( actors for hire on fees ) pretend that they sell some " loans '' to investors - who never bought ANY loans and only buy CONTRACTS with Cede to see IMAGES about performance of DATA purportedly backed by someone's mortgages. 

And Big Banks ( Federal Reserve ) can sell IMAGES about performance of the DATA as many times as they want, by any company who has an access to their database operated by XXXX XXXX. 

XXXX XXXX repelled of Glass Steagal Act in 1999, which happened exactly after XXXX and XXXX were launched and allowed to run an entire World hidden behind our computer screens. Most users can only see that is in front of them - a flat l screen with letters and numbers. Most people do not realize that here is a XXXX behind. 

And Bankers use this virtual Universe to operate a giant fraud masqueraded as " convenience of investors '' who can only see IMAGES with handsome numbers about performance of the DATA about someone's loan while this database is operated by Federal Reserve via its XXXX and XXXX XXXX XXXX  who are the SOLE OWNERS of ALL Stock in America. 

PennyMac never " bought '' any loans because here is no one who can sell them. ALL DATA about loans is held by Federal Reserve via XXXX and XXXX  and investors can only buy virtual " Certificates '' ( contracts ) with XXXX. 

These rights can be terminated without notification to or recourse by the common man. 
Payment of dividends ( solely based on discretion of XXXX XXXX brokers, pursuant to these Beneficial Ownership Rights is what keeps a financial revolution at bay. 
These Beneficial Ownership Rights can only be held, in name only, by Members of the XXXX. The actual legal control authority over these Beneficial Ownership Rights is maintained by XXXX XXXX XXXX as the Sole Registered Shareholder only and not to either the equity shares or the Street Name Stock that are owned by XXXX XXXX XXXX. 
By written contract, XXXX XXXX XXXX will only give Beneficial Ownership Rights to those DTC Members who have purchased the Street Name Stock from XXXX XXXX XXXX. 
Derivatives, as a trading commodity, are literally a figment of the imagination. 
The Street Name Stock sold to XXXX  Members is the 1st Derivative since the Street Name Stock has no connection to any physical assets of the company. 
Without the fallacious Street Name Stock being generated by XXXX XXXX XXXX, there would be no Paper to sell to the public and the IPO would generate no money. 
The public is of the belief they are buying ownership in the company but this is a lie. 
At this point, once XXXX  Members receive their portions of XXXX XXXX Name Stock, the IPO is announced. 
XX/XX/XXXX Members owning the Street Name Stock now sell ONLY Beneficial Ownership Rights to the public. 
The public buys the 2nd derivative, or 2nd figment of the imagination, and receives only the revocable and cancellable Beneficial Ownership Rights to receive the net majority of declared and paid dividends. 

Regarding XXXX XXXX, it states : If issued in book-entry form, the classes of a series of certificates will be initially issued through the book-entry facilities of XXXX XXXX XXXX XXXX, or XXXX. No global security representing book-entry certificates may be transferred except as a whole by XXXX to a nominee of XXXX, or by a nominee of XXXX to another nominee of XXXX. Thus, XXXX  or its nominee will be the only registered holder of the certificates and will be considered the sole representative of the beneficial owners of certificates for all purposes. 
In other words, only the XXXX  and XX/XX/XXXX may distribute Beneficial Ownership Rights. 
Therefore, the only Beneficial Owners, in all cases, will be the Direct or Indirect Participants in the XXXX  that are completely managed, controlled and regulated by the XXXX  for its own benefit. 

PennyMac NEVER owned anyone 's debt - simply because nobody allow them to own it ; NEVER initiated any loans because they don't have money to loan ; and NEVER serviced any mortgages since Big Banks are well aware about PennyMac 's executives criminality. 
PennyMac is is merely a foreclosure and Title laundering vehicle for Big Banks/ Federal Reserve whose sole purpose to pretend to be a " buyer '' from XXXX  ( read Cede who passed data about my loan to a new player via new password to XXXX/XXXX XXXX database According to XXXX XXXX XXXX  and XXXX, also known as " XXXX and XXXX '' or " XXXX  XXXX XXXX XXXX, is a specialist United States financial institution that processes transfers of stock certificates on behalf of XXXX  XXXX XXXX XXXX the central securities depository used by the United States XXXX XXXX XXXX, which includes the New York XXXX XXXX XXXX XXXX XXXX and other exchanges together with associated clearinghouses such as XXXX XXXX XXXX XXXX XXXX and others. 

XX/XX/XXXX technically owns substantially all of the publicly issued stock in the United States. 
Thus, investors do not themselves hold direct property rights in stock, but rather have contractual rights that are part of a chain of contractual rights involving XXXX. 
Founded in XXXX, XXXX was formed for the purpose of efficiently processing transfers of stock certificates on behalf of the XXXX XXXX XXXX. [ 3 ] The company is at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, New York XXXX A common misconception is that 'XX/XX/XXXX' is merely a fictitious legal name used to refer to XXXX  XXXX XXXX . In fact, XXXX is actually a New York City-based partnership of certain employees of XXXX. [ 5 ] [ 3 ] XXXX is a separate legal person from XXXX XXXX XXXX, which is owned by XXXX Participants, who are banks and brokerage houses, and not employees of XXXX. [ citation needed ] One reason XXXX is structured as a partnership is that each general partner can order transfers of stock registered in the name of the partnership without the need of presenting a separate corporate resolution to the stock issuer 's transfer agent or stock registrar to validate the authority of the transfer. 

How XXXX XXXX Gets Control 1. Before the IPO is offered through a XXXX XXXX exchange, the offering company creates the original XXXX XXXX  that represents true ownership of the company as it exists prior to the IPO being formalized and offered for sale. 
2. By SEC law and XXXX XXXX procedure, before the IPO is released for sale, a binding contract MUST be executed with at least one XXXX XXXX XXXX, all of which are owned and controlled by the XXXX. 
3. After Contract execution and prior to IPO offering release, all original hard copy shares representing actual equity ownership of the company must be physically delivered to the exchange ( s ) conducting the IPO. 
4. After receipt of the original equity shares, the exchange declares itself the Sole Depository for all hard copy shares. 
5. The exchange is now the Legal owner of the company. 
6. At this point, the common mans ability to own actual equity in the company ceases to exist. 
7. Pursuant to the Securities Act of 1934, the SEC notifies the exchange that it can not simultaneously own and trade the equity shares. 
8. The SEC notifies the exchange that it can transfer ownership of the equity shares to the Nominee of the exchange.

9. As the sole Nominee for all exchanges, the equity shares are transferred to XXXX XXXX XXXX. 
10. XXXX XXXX XXXX now becomes the Sole Registered Shareholder of the company. 
11. The exchange retains physical custody of the equity shares during the IPO offering period. 
12. XXXX XXXX XXXX, as the Sole Registered Shareholder and for the purpose of giving the exchange something to sell as a shill commodity, creates one ( 1 ) electronic only share certificate referred to as the Street Name Stock.

13. The Securities Act of 1934 as amended requires that all traded shares must be delivered to the buyer in 1 to 3 days.

14. Therefore, XXXX XXXX XXXX, electronically trades only the Street Name Stock on the XXXX- owned exchange. 
15. XXXX XXXX XXXX trades its Street Name Stock on the exchange floor as the meeting place for all sales and trades. 

16. The XXXX  keeps its trading protocols private such that outside parties are precluded from discovering what goes on behind closed doors and keeps the public from becoming aware of these acts. 
17. By written contract, XXXX XXXX XXXX may only sell its electronic only Street Name Stock to direct and indirect Members of the XXXX  on the XXXX  owned exchange trading floor. 
18. Members of XXXX  may only trade and sell their electronic Street Name Stock to other XXXX  Members or to XXXX XXXX XXXX. 
19. Therefore, this closed-loop sales system keeps the electronic Street Name Stock in the XXXX  Member family and directly under the control of XXXX XXXX XXXX. 
20. Only XXXX XXXX XXXX, as the Sole Registered Shareholder who actually owns the company, can give Beneficial Ownership Rights to any subsequent buyer. 

What Are Beneficial Ownership Rights 1. Beneficial Ownership Rights represent the right to vote by Proxy when that Proxy is ONLY authorized by the Registered Shareholder. 
2. Beneficial Ownership Rights are those revocable and cancellable rights to receive the major portion of a dividend, if declared. Beneficial Ownership Rights have nothing to do with Ownership of the Actual Equity Shares that represent Actual and Perfectible Ownership in the company. 
3. This extremely important clarification between Actual and Perceived Ownership of Equity Shares representing Ownership in the company is the basis for the XXXX XXXX System being able to bilk and acquire most of the wealth in the Country. 
4. Thousands of these transactions take place each business day are done so in the black and go unchallenged by the American Public.

5. This is the primary reason that, since the majority of the American Public typically doesnt read or study and is ignorant of this legal reality, XXXX XXXX XXXX has basically been able to acquire and steal the ownership of America. 
6. The American Public, thinking they are buying Actual Equity Share Ownership, is being mislead and set up just as American homebuyers were in the Mortgage Crisis. 
7. Most Public Buyers accept the assurances of their Brokers and others and never read or research to ascertain the factual reality that they are buying NOTHING of actual collateralized value. 


Thus, PennyMac continues to lie to cover for this biggest fraud while MI XXXX XXXX lost over {$2.00} Billion ( {$400.00} million to fake " default debt " buyers ) and homeowners continue to lose their homes to illegal foreclosures and return their only payments for services masqueraded as " loans '' to the biggest criminals ever existed in the World.

Company response to consumer: Closed with explanation