Consumer complaint received 2024-07-29 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Closing disclosure or other related disclosures
Company: SELECT PORTFOLIO SERVICING, INC.
State: FL

Complaint narrative:
I am writing to file an urgent formal complaint regarding the foreclosure of my property located at XXXX XXXX XXXX XXXX, Fl. As XXXX  and XXXX individuals, my spouse and I are in a particularly vulnerable situation, and we respectfully request that you expedite the review of our case. 

The foreclosure judgment requires us to vacate our property within 30 days, causing significant hardship and distress, especially given our age and health conditions. However, I have evidence suggesting irregularities in the foreclosure process, including : 1. A release of lien document that was not properly considered 2. Documentation showing that my loan was never securitized 3. Evidence of a fraudulent transfer of the loan through a questionable assignment These issues were not adequately addressed during the foreclosure proceedings, and I believe they materially affect the validity of the foreclosure judgment. 

Given our vulnerable status and the imminent threat of homelessness, we urgently request a thorough and expedited investigation into this matter, particularly focusing on : - The validity of the foreclosure in light of the release of lien - The securitization status of our loan and its impact on the foreclosing entity 's standing - The legality of the loan transfer and assignment A foreclosure sale is currently scheduled for XXXX XXXX I have recently uncovered evidence of significant fraud and irregularities related to the securitization of the mortgage in question, which materially affects the validity of the foreclosure judgment. This transfer was transferred after the closing date of the said trust closed. 

Specifically, I discovered that XXXX XXXX XXXX XXXX, purportedly the holder of the mortgage, is not a legitimate entity holding the mortgage, but rather a vehicle for fraudulent securitization. 

I allege that : a. XXXX XXXX XXXX XXXX is a false flag entity used by the investment bank to lure the homeowner into becoming an unwitting co-issuer of securities. 
b. These securities were sold to investors without any conveyance of right, title, or interest to any obligation, legal debt, note, or mortgage. 
c. The sale of these securities, along with several other tranches of securities based on the initial certificates, paid off all loans to the investment bank bookrunner. 
d. This resulted in the elimination of any loan account receivable. 
e. The process produced revenues and profits for the investment bank that far exceeded normal fees, revenues, and profits from either the sale of securities or loan products. 

Based on these facts, I contend that : a. There is a complete absence of any duty to make scheduled payments on a nonexistent loan account receivable. 
b. There is no financial or economic loss that can be attributed to the homeowner withholding payment. 
c. There is no valid experience of default by any creditor. 
d. The declaration of default is false. 
e. The conditions precedent to foreclosure are absent. 

Furthermore, I discovered evidence that the purported assignment of the mortgage was invalid : a. The assignment of my mortgage allegedly occurred on XX/XX/XXXX b. This assignment purportedly transferred the mortgage to US Bank as successor to XXXX XXXX XXXX. 
c. However, US Bank did not become successor to XXXX  XXXX XXXX XXXX XXXX. 
d. Therefore, it was legally impossible for US Bank to have been assigned the mortgage as successor to XXXX  XXXX XXXX on the date claimed. 
e. The transfer was done almost 2 years after the bank was bankrupt. 
f. The preparer of this mortgage assignment was disbarred for 3 years for making fraudulent assignments. 
g. Robo signers exist on the assignment This inconsistency in dates further demonstrates the invalidity of the chain of title and provides additional grounds to question the legitimacy of the foreclosure action. 

I have evidence that the mortgage in question was included in an FDIC settlement : a. The mortgage that is the subject of this foreclosure action was part of an FDIC settlement agreement. 
b. I possess documentation to prove this inclusion in the FDIC settlement. 
c. The inclusion of this mortgage in an FDIC settlement raises significant questions about : i. The current ownership and standing of the party attempting to foreclose. 
ii. Whether the debt has already been satisfied or otherwise resolved through the FDIC settlement. 
iii. The validity of any subsequent transfers or assignments of the mortgage after the FDIC settlement. 
The evidence presented in The above points materially affects the validity of the foreclosure judgment. 
We look forward to your immediate attention to this matter and a thorough investigation of these serious concerns. The urgency of our situation can not be overstated, and we greatly appreciate any efforts to expedite this process. 

XXXX XXXX

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