Consumer complaint received 2017-12-20 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
This complaint and web article is an update from XX/XX/XXXX XXXX XXXX  XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX To XXXX. XXXX : Stop Playing Games. Turn over the keys! 
As Standing Trustee, You ALONE, are Responsible for all Matters Related to Our Assets & Property. To Not Comply is in Defiance of Federal & State Laws! 

TO : XXXX XXXX XXXX, Chief Executive Officer XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. 

XXXX, NC XXXX WARNING! 





TAKE HEED Who is Liable? 







According to Federal and State Municipal and Local Statutory Laws and Codes, that would be : YOU! 







Because your subordinates can not be used as a shield to hide you from your legal transgressions. 



( XXXX XXXX XXXX, XXXX XXXX XXXX Assistant Vice President/Trustee XXXX XXXX : Assistant Vice President, Beneficiary, Bank of America, as " Servicer '' XXXX XXXX? Mortgage Complaint Resolution ) Legal Sins that continuously and continually are causing the loss of XXXX XXXX and property. 






At a compounding cost of countless dollars and holdings. 









But not without financial and legally grave consequences. 







Both Civil and Criminal " Civil Cases vs. Criminal Cases - Key Differences Civil cases usually involve private disputes between persons or organizations. Criminal cases involve an action that is considered to be harmful to society as a whole. Below is a comparison of the key differences between civil and criminal cases. '' ( XXXX XXXX XXXX ) '' For you, it 's the calm before the storm. 









I need those keys, or you 'll be forced out of seclusion by my rightful and legally permitted plan of action. 







I will change the lock ( which I planned to do anywy ) and move in without further notice. 







AND ... ..who 'll take the punitive damages liability, the penalty and criminal code punishment if my efforts to extend an Olive Branch to Bank of America falls through? 







The Bank of America Board Chair and CEO, that 's whom. 









I 've requested the keys to XXXX XXXX XXXX XXXX XXXX , CA , but no more. 







Now, I 'm demanding them AND QUICK! 









Especially since learning that the CEO has the ability to hand over those keys because he has first hand access to the property. 











I will start by confronting you on your tactics, the same asXXXX XXXX XXXX, United States Senator, as he did relative to Bank of America, or should I say, " your '' Swipe Fees? 











" First, there is no evidence that your bank could not continue to offer debit cards profitably just with the revenue you will receive under the generous maximum interchange fee rates that the Federal Reserve has established. The Fed found that it costs a bank on average around 7 cents to conduct a debit transaction, and likely far less for a bank with your economies of scale.

Under the Feds rule you will be allowed to profit handsomely by collecting around 24 cents per transaction. Your decision to charge a new monthly debit fee is an overt attempt to make even more profit off the backs of your customers. 



Second, I am aware that you and your industry seek to blame swipe fee reform, which I drafted and Congress enacted, for your decision to raise fees on your customers. However, this justification does not add up. According to industry analysts your bank has 38.7 million debit cardholders. Assuming that these cardholders remain your customers and pay your new {$5.00} dollar fee, Bank of America will make an estimated {$2.00} billion annually from this fee on top of the enormous profit it will already receive under the Feds swipe fee rates. 



Yet you recently claimed in an SEC filing that the revenue impact of swipe fee reform on your bank would be significantly less than {$2.00} billion - even if the Fed had set a XXXX cent cap rather than the XXXX cent cap they established. It appears that your new fee will result in another windfall for your bank with swipe fee reform as an excuse. 



I challenge you to prove otherwise. 





The American people deserve to know the real story about the swipe fee system and the way big banks have colluded to profit excessively at the expense of our nations businesses and consumers. Debit and credit card swipe fees generate billions for your bank each year. But you did not earn these fees by bettering your competitors in a free market, which is how Main Street businesses have to make their money. 



Rather, you earned these billions because the Visa and MasterCard duopoly fixed the same high swipe fee rates for your bank that they did for every other bank, thereby immunizing this revenue stream from competitive pressures that would hold fees at a reasonable level. 



Now that the truth about the anti-competitive swipe fee system has been exposed and the process of reform has begun, banks like yours are desperately looking to keep the money flowing like it did in the past. 



And as your new fee demonstrates, you are now looking for ways to make even more lucrative profits off of debit cards than you did before. I do not think your customers will be fooled by this. '' The " American People '' and I, deserve and demand to know why you 're paying lip service to the approval and recording of a " Clear Title '' Document. 







A Reconveyance indigenous to our referenced property that you knew full well and acknowledged. 







That which already has been evident since XX/XX/XXXX, thanks to a Court Ordered Discharge Decree ofa Chapter XXXX Judge and Trustee. 







Especially in light of your Mortgage racketeering history. 









First, it was countrywide Loans, CEOXXXX XXXX XXXX illegally concocted a false claim of ownership, even though we never successfully contracted any agreement with that Company. 







While under your Trusteeship, XXXX XXXX XXXX and XXXX XXXX joined XXXX XXXX XXXX in a racket to swindle us of possession of our property. 







This charade occurring fewer than two months before we were unceremoniously kicked out of property that you personally declared us as owners, " Under Penalty of Perjury. '' " Bank of America tops list of mortgage complaints by borrowers The lender has accounted for 30 % of complaints to the Consumer Financial Protection Bureau, with two-thirds of them involving modifications. 

XX/XX/XXXX|By XXXX XXXX XXXX XXXX XXXX XXXX XXXX Bank of America noted that the bureau 's website shows 98 % of the problems ( XXXX XXXX XXXX XXXX ) XXXX XXXX XXXX XXXX. , which handles customer service on about 15 % of U.S. home loans, has accounted for 30 % of the mortgage complaints logged by the Consumer Financial Protection Bureau , according to a new database made public by the federal watchdog. 



The level of customer discontent far greater than at home-lending rivals XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX reflects BofA 's struggles since its XX/XX/XXXX acquisition of XXXX XXXX XXXX. 



in XXXX. Countrywide had become the No. 1 mortgage firm by specializing in subprime and other high-risk loans. 

BofA, which has recorded tens of billions of dollars in losses on Countrywide loans, was the object of 15,136 mortgage complaints since XX/XX/XXXX,  when the consumer bureau began taking complaints about home loans. 


The bank noted that the bureau 's website shows that 98 % of the problems have been resolved. '' The way it looks to me, XXXX XXXX XXXX, has assumed possession of the house XXXX XXXX XXXX Stole from XXXX XXXX & XXXX XXXX on XX/XX/XXXX. 





In essence, that makes you the succeeding Swindler. 







That means for each day you withhold possession from us, the more for which you shall answer. 



" California Theft / Larceny Law Theft ( also calledlarceny ) is a crime against property in California. To provetheft, a prosecutor must establish the defendant 's intent to permanently take or withhold the property owner 's possession or right to the property -- in other words, thespecific intent to steal. Theft can take on many forms depending on the type of property taken as it can involve : Personal property ; Money ; Real property ; or The value of labor or services. 


California Code, Penal Code - PEN 484 | '' " XXXX XXXX XXXX Announces Upsize and Pricing of Public Offering of Common Shares XX/XX/XXXX XXXX XXXX  Eastern Standard Time A story in XXXX, says that several Bank and Mortgage Company CEO 's have " bought out '' XXXX XXXX, the thief who stole XXXX. 

" Sometimes, it can take place entirely without the owner 's knowledge. However, theft can also occur where an owner entrusts property to another for a temporary or ongoing purpose and the recipient then fails to return the property when due. 


Theft is either classified as petty theft or grand theft in California, a difference that depends on the value of the property. Generally, grand theft exists where the property is valued above {$950.00}, but there are some exceptions, such as where the property is taken from the victim 's person or where the property taken consists of a firearm. '' XXXX XXXX XXXX  '' Or, put another way ; received Stolen Goods `` Receiving Stolen Property What Does It Mean to " Receive Stolen Property ''? 


Receiving stolen property is acrime to purchase or accept property that you know or believe was obtained through theft.The crime is separate from robbery, extortion, or theft.Receiving stolen property is a crime in order to deter people from aiding or rewarding thieves by buying stolen property, concealing stolen property, and to deter theft in general. 



Receiving stolen propertymay be a misdemeanor or felony. '' This is in reference to Our home, our assetsin particular, and a plantation of homes in general. 


" In order to be convicted of receiving stolen property, the prosecution must show Property Was In Fact Stolen : In order to be convicted of a receipt of stolen property, the property must actually be in a stolen status. 

This means that the police can not set up the defendant to receive the stolen property just to bust him or her. 

Knowledge : The defendant must have knowledge that the property was stolen, or should have known, that the property was stolen Intent to Defraud Owner : The defendant had intent to deprive the owner of his or her property, such as by keeping it, selling it, or giving it away to another party. '' XXXX " owned '' XXXX XXXX, which now is in the hands of several racketeers. 


As in the house he stole from us, we have Proof Of Reconveyance, from a Court Ordered Discharge and several CEO 's. 



Among them, you, as XXXX XXXX XXXX, Bank ofAmerica. 



Hard to extend an Olive Branch to a CEO whose Vice Presidents recorded a Deed on behalf of my spouse and yours truly, and then you assume liability Trusteeship of the house ( s ) XXXX swiped. 



" XXXX XXXX, BofA XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX, XXXX and XXXX XXXX XXXX XXXX XXXX are joint book-running managers for the offering, and XXXX XXXX XXXX is a co-manager for the offering. '' " U.S. CodeTitle 18Part IChapter 31 641 18 U.S. Code 641 - Public money, property or records prev |next Whoever embezzles, steals, purloins, or knowingly converts to his use or the use of another, or without authority, sells, conveys or disposes of anyrecord, voucher, money, or thing of value of theUnited Statesor of any department or agency thereof, or any property made or being made under contract for theUnited Statesor any department or agency thereof ; or Whoever receives, conceals, or retains the same with intent to convert it to his use or gain, knowing it to have been embezzled, stolen, purloined or converted Shall be fined under this title or imprisoned not more than ten years, or both ; but if thevalueof such property in the aggregate, combining amounts from all the counts for which the defendant is convicted in a single case, does not exceed the sum of {$1000.00}, he shall be fined under this title or imprisoned not more than one year, or both. '' In some states, according to " XXXX XXXX. XXXX, '' the prosecution must show that you intended to aid the thief by purchasing or accepting the stolen property. 


Some states also differentiate between receiving and possessing stolen property. 


Well, if we do n't get the keys to the house, or we encounter resistance when we move in, or fail to acquirewritten and literal assistance to repossess the premises, that 's the direct link to the receiving of stolen property. 


" XXXX, Ariz. -- ( XXXX XXXX ) -- XXXX XXXX XXXXXXXX ( XXXX : XXXX ) ( the Company ) announced today that it priced its underwritten public offering of 20,076,891 of its  common shares at a public offering price of {$32.00} per share. 

The Company is offering 9,600,000 of its common shares, according toXXXX, which it says was upsized from the previously announced 8,000,000 common shares, and the selling shareholders are offering 10,476,891 common shares. '' The gross proceeds to the Company, says the article, will be {$310.00} million. 


The Company will not receive any proceeds, it says, from the offering of common shares by the selling shareholders. 


" The Company and certain of the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,505,465 common shares and 1,506,068 common shares from the Company and such selling shareholders, respectively, at the public offering price. 

The offering is expected to close on XX/XX/XXXX, subject to customary closing conditions. '' By proxy of their lingering partnership in Criminal Foreclosures and other Illegal rackets, You, Bank of America CEO XXXX XXXX XXXX are joined at the hip with all the operatives named in the purchase and sale by XXXX XXXX. 

" What If I Did Not Know That the Property Was Stolen? '' The answer : Bank of America is the Trustee So if my spouse an me, as owners possession of the property, then it 's stolen. 



" The key factor between receiving and possessing stolen property is the timing of the knowledge that it was stolen. If the person receiving the property knew it was stolen at the time of acquisition, then the person is guilty. If the person discovered the property was stolen after accepting it, but still intends to keep it or use it for a dishonest purpose ( such as selling it to someone else ), then the person is guilty of possessing stolen property. '' Because XXXX knows his act of forgery, fraud and embezzlement have caught up to him. 



XXXX has said he wanted out, and now, out he goes. 


" Trump friend XXXX XXXX cashes out of XXXX XXXX XXXX '' And just as your swipe fees caught up to you, your actions and racketeering on real estate issues are catching up too. 





" Analysts have noted that the real rationale behind your new debit fee is likely not to cover debit processing costs ( which are minimal and easily covered by the Feds generous rule ) but rather to push more consumers to use credit cards whose swipe fees are still unregulated and far exceed debit swipe fees. But here competition will help provide an important check. 



When drafting my legislation I anticipated that banks would push consumers toward credit cards so I included a provision allowing merchants to offer discounts for debit versus credit. This provision will help consumers at the cash register and also will constrain your and other big banks efforts to steer customers toward credit cards with all their attendant tricks and traps. 



Your banks spokespeople and advocates have argued strenuously that I am responsible for your decision to charge this new fee on all but your wealthiest customers. In response to this I will simply point out that my legislation was enacted in XX/XX/XXXX. In XX/XX/XXXX, the XXXX XXXX XXXX reported that your bank was preparing new fees on basic banking services for XX/XX/XXXX and that Bank of America customers who only want a low-volume checking account will likely be asked to pay for it. 



( End is Seen to Free CheckingXXXX XXXX XXXX XXXX, XX/XX/XXXX ). In other words, it is on the record that your bank was preparing new fees just like this one well before swipe fee reform became law. '' https : //www.durbin.senate.gov/newsroom/press-releases/letter-to-bank-of-america-ceo-XXXX. '' So now, Bank of America, as Trustee, has no defense for not coming up with those keys. 







Essentially, the Bank CEO has been left holding the Bag by XXXX, as he knows that his Trustee Deed ( s ) Upon Sale, used to steal these homes, are all fraudulent. 



" What are the Possible Consequences of Receiving Stolen Property? 


Receipt of stolen property is categorized as a " wobbler '' meaning that the charge can be a felony or misdemeanor. A charge for a receipt of stolen property charge depends on the value of the property at issue. If the property has a high value, the defendant would be charged a felony. If the property value is low, the defendant would be charged as a misdemeanor. If you are found guilty, the court may do any or all of the following : Imprisonment Restitution Fines ( depending on the value of the property ) Probation '' " Swipe fee reform is merely your latest excuse for jacking up consumer fees, just like the troubled economy was your excuse in XX/XX/XXXX( Banks Boost Customer Fees to Record HighsXXXX XXXX XXXX XXXX, XX/XX/XXXX ), higher costs and consumers increased riskiness was your excuse in XX/XX/XXXX ( Banks find ways to boost fees ; checking accounts latest targetXXXX XXXX, XX/XX/XXXX ), and overdraft restrictions was your excuse in XX/XX/XXXX ( Banks return to charging credit card, checking account feesUSA Today, May 18, 2010 ). 



Your bank has never been shy about seeking more fee revenue to add to the revenue you already receive from maintenance fees, ATM fees, overdraft fees, extended overdrawn balance fees, stop payment fees, interchange fees, research fees and other fees not to mention the interest you receive from lending out consumer deposits. But banks do not need to gouge their customers to operate successfully. 



Banks instead must choose whether their priority will be their customers or their profits and paychecks. You could, for example, choose to give 1.8 million of your customers a reprieve from your new fee by returning the {$9.00} million bonus you received on top of your {$950000.00} salary in XX/XX/XXXX. That choice is yours to make. '' I would agree, and so too, I submit, would my former colleague, XXXX XXXX The following article connected to the above headline is writtenByXXXX XXXX/XX/XX/XXXX, a colleague of mine at XXXX XXXX XXXX : " XXXX XXXX, a close confidant of President Donald Trumps, haswalked away from the rental housing empire he built following the housing bust, cashing out his ownership stake in a move likely to make him hundreds of millions of dollars. '' The move came late Friday, according to XXXX XXXX, one day afterXXXX published an exposon the company he founded. 









According to afilingwith the Securities and Exchange Commission, says the article 's author, XXXX sold all his stock in XXXX XXXX XXXX and resigned his position as co-chairman of its Board of Trustees. 







About the time XXXX XXXX sold his holdings, my spouse and me had filed a written complaint against him with the Consumer Financial ProtectionBureau.

We sent him a Certified package, wherein he found a  copy of Deed ( s ) of Reconveyance from Bank of America ( XX/XX/XXXX ), and a " Release of Lien " Letter ( XX/XX/XXXX ) from XXXX XXXX, XXXX, a " Wholly-Owned '' subsidiary of Bank of America. 





" XXXX XXXX XXXX XXXX, XXXX. 


Lien Release Department XXXX XXXX XXXX XXXX. 
XXXX : AZXXXX XXXX, AZ XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX XXXX, CA XXXX RE : Substitution of Trustee and Full Reconveyance Property Address XXXX XXXX XXXX XXXX XXXX, CA XXXX Dear Homeowner, Please be informed that when a mortgage or deed of trust is paid in full, the public records must be cleared using a legal document called a lien release or reconveyance. A lien release is a document which " releases '' a lien on property included in public records. The lien release serves as notification that the borrower no longer owes that specific debt secured by an interest in the property. 

In the states of California, Idaho, Montana, Nebraska, Nevada, Oregon, Utah, and Washington, the Reconveyance is combined or accompanied by a Substitution of Trustee wherein the lender or current holder/beneficiary substitutes the original Trustee with a new trustee. 

XXXX XXXX, XXXX, is substituted in the above referenced states to replace the original trustee for the very purpose of releasing a lien on the property. The document is accurate and properly recorded based onthe state statutory guidelines and it removes th encumbrance from your property. 

XXXX XXXX XXXX, is a wholly-owned subsidiary of Bank of America, N.A., and is  responsible for preparing, executing, notarizing and sending real property lien releases on behalf of Bank of America. 

Paid-in-full loans are referred to XXXX XXXX, XXXX, for lien release processing, All lien releases or reconveyances are recorded with the Country Recorder 's office where the original Deed of Trust or Mortgage was recorded. Please retain for your records the lien release or reconveyance you received as that is proof that your loan is paid in full and released from public records. '' Thank you for your business XXXX XXXX XXXX, XXXX. 
Lien Release Department '' In addition, we mailed within the packet, copies of Reconveyances from : b ) XXXX XXXX XXXX XXXX. 



c ) XXXX XXXX XXXX ( both now owned by XXXX XXXX XXXX ) d ) XXXX XXXX, XXXX. ( XXXX XXXX XXXX ) e ) XXXX XXXX XXXX XXXX XXXX and the Chapter XXXX Banruptcy Case XXXX, via a Purchase and Sale Agreement ( XXXX XXXX XXXX ) Contracted using the signatures of XXXX XXXX and XXXX XXXX, without our knowledge or permission. 







Through the relay racket, possession of our home was left to the clutches of XXXX XXXX XXXX XXXX, which then colluded with XXXX XXXX XXXX whose Company then was called " XXXX XXXX XXXX XXXX ), to steal our home with a forged Trustee Deed. 





According to XXXX the phenomenon XXXX started where tens of thousands of single-family homes are bundled into giant mortgage-backed securities, creating new incentives designed, to skimp on maintenance and maximize rents, says the author, But the phenomenon XXXX started will outlive his ownership. 





" XXXX, who often says he likes to befriend the bewildered, has made a career out of profiting off other peoples pain. He began buying houses in XXXX, telling an audience in XXXX that the mass purchases of homes previously foreclosed on was the greatest thing Ive ever done. 



" Current tenants, however, say the company piles on onerous fees and forces them to live with chronic leaks, mold, mites and even snake infestations. '' While in action with his stolen goods, XXXX XXXX XXXX was making deals with the XXXX, so to speak, and committing acts of treachery against " tenants '', who probably were the same homeowners from whom the properties were stolen, and converted to Rentals. '' In one county in the XXXX area, says XXXX, the company filed eviction notices against one-third of its tenants, according to a report by the XXXX XXXX XXXX XXXX XXXX. 





Were just little people in his world, XXXX XXXX, XXXX, said of XXXX. 



Two weeks after her family moved into a XXXX XXXX home in suburban XXXX, she said a ceiling fan fell on her bed. 



XXXX first signaled his intention to sell in afilingwith the SECon Wednesday, says the article, a week after XXXX contacted the company for comment andfive days after XXXX talked to XXXX by phone, telling him directly that we planned to publish an investigation into poor conditions and mass evictions by XXXX. '' And I and others like me will continue pressing for that investigation, among others, as well as writing to the courts that have Bank of America and the others under foot. 





Not only will we pressure them into turning on their heretofore partners, but throwing them under the bus to save their own skins. 





In this upcoming example, an appeals court made a clear distinction between two separate versions of purchase and sale. 


" XXXX XXXX XXXX XXXX XXXX XXXX Court of Appeal, Fourth District, Division 3, California. 
XXXX XXXX, Plaintiff and Appellant, v. XXXX XXXX XXXX XXXX, XXXX. et al., Defendants and Responde XXXX Decided : XXXX XXXX XXXX ORDER MODIFYING OPINION ; NO CHANGE IN JUDGMENT. 

On the court 's own motion, we modify the opinion by deleting the sentence on page 10, stating, Additionally, the debtor has the right to postpone the foreclosure sale for one day to pay off the outstanding debt. ( XXXX v. XXXX XXXX XXXX ( 1985 ) 165 Cal.App.3d 312, 317320. ) Whatever the Court 's opinion, the distinction they make is clear and decisive, related to mortgages and transfer of title for a sale. 





" As we noted at the outset of this opinion, the Legislature has eliminated most of the legal and economic distinctions between a mortgage containing a power of sale and a deed of trust. ( XXXX, supra, 270 Cal.App.2d at p. 553 [ holding same rules are generally applied to mortgages and deeds of trust because there is little practical difference between the two instruments ]. ) However, some distinctions between the two security devices endure. 



Probably the most significant distinction is the execution of a mortgage involves only two parties ( i.e., he mortgagor and mortgagee ) ; whereas the execution of a deed of trust necessarily involves three parties ( i.e., the trustor-debtor, beneficiary-creditor, and trustee ) because title to the real property and the power of sale are conveyed to the third party trustee, who holds the interest for the benefit of the beneficiary-creditor. ( See XXXX, XXXX, XXXX XXXX at p. 1510. ) '' In the case of a Title already transferred, the matter of a Deed of Trust is moot, and any purchase and sale agreement therefore is illegal. 





And if I am pushed to it, or someone challenges my demand for the keys, I will prove to them that the law ( s ) regarding refinancing, Purchase and Sale Contracts have been abused, butchered, broken. 





My spouse and I have obtained transfer of the Deed of Trust to a Title all the way back to XX/XX/XXXX, in the U.S. Chapter XXXXBankrupty court ( XXXX ). 



The court Discharged, our Debt and issued an order directing that the Title be transferred to my spouse and me, based on the " Final Decree '' submitted byXXXX XXXX as U.S. Chapter XXXX Trustee in the above-referenced case. 




" The Final Decree After the submission of a reorganization plan, the bankruptcy court conducts a hearing for confirmation. In certain cases, there may be some alteration or modification due to the interference of the interested parties. If there is no alteration or modification in the reorganization plan, the bankruptcy court initiates steps for the affirmation of the plan. 



After completion of all post-confirmation proceedings of the plan, the bankruptcy court sets time limits for filing a final report and motion for a final decree. 



The Bankruptcy Code requires the court to close a bankruptcy case immediately after full administration of the real property and the discharge of the US Trustee. In short, the entry of a final decree is meant to close a bankruptcy case. '' An Order for a Deed of Reconveyance came with the Discharge. 



The Order was fulfilled by XXXX XXXX XXXX XXXX, which recorded a Deed of Reconveynance on that same date : XX/XX/XXXX.

In this upcoming example, again, the appeals court made a clear distinction between two separate versions of purchase and sale. 



" As the XXXX court explained, section 2932.5 's purpose is not to ensure that borrowers can identify who is holding their loans. Section 2932.5 requires the recorded assignment of a mortgage so that a prospective purchaser knows that the mortgagee has the authority to exercise the power of sale. 



This is not necessary when a deed of trust is involved, as the trustee conducts the sale and transfers title. [ Citation. ] It is the trustee 's holding and transferring of title that underlies the application of different recording requirements than those required of mortgagees under section 2932.5 [ T ] he literal application of section 2932.5 to  deeds of trust would effectively require the power of sale to be transferred to the lender, contrary to the terms of the trust deed and of section 2934a which provides detailed requirements for the transfer of the power of sale to another trustee. ( XXXX, supra, 205 Cal.App.4th at p. 336, fn. omitted. ) We agree with the XXXX court that the transferee of a promissory note secured by a deed of trust is not a mortgagee, or other encumbrancer to whom a power of sale is given within the meaning of section 2932.5, and such a transferee need not have a duly acknowledged and recorded interest in the promissory note before exercising the power of sale. 



( XXXX, supra, 205 Cal.App.4th at p. 333. ) '' And if pressed to do so, I gladly will embarrass these detractors by proving their treachery, Evasion of Taxes, Embezzlement and Seizure of Assets and of Property without authority or legal standing. 



" U.S. CodeTitle 12Chapter 38A 3763 12 U.S. Code 3763 - Transfer of title and possession prev|next ( a ) Delivery of deeds The foreclosure commissioner shall, upon delivery of a deed or deeds to the purchaser or purchasers ( which shall be without warranty or covenants to the purchaser or purchasers ) obtain the balance of the purchase price in accordance with the terms of sale provided in the notice ofdefaultand foreclosure sale. 


Notwithstanding anyStatelaw to the contrary, delivery of a deed by the foreclosure commissioner shall be a conveyance of the property, and constitute passage of title to the mortgaged property, and no judicial proceedings shall be required ancillary or supplementary to the procedures provided in this chapter to assure the validity of the conveyance or confirmation of such conveyance. 


( b ) Right of possession A purchaser at a foreclosure sale held pursuant to this chapter shall be entitled to possession upon passage of title under subsection ( a ) to the mortgagedproperty, subject to any interest or interests not barred undersection 3765 of this title. 

Any person remaining in possession of the mortgaged property after thepassageof title shall be deemed a tenant at sufferance subject to eviction under Penalty of Perjury.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation