Consumer complaint received 2025-02-10 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: WELLS FARGO & COMPANY
State: NY

Complaint narrative:
JOINT FORMAL NOTICE TO U.S. BANK, N.A. AND XXXX XXXX XXXX, XXXX. REGARDING SECURITIZATION FRAUD, RICO VIOLATIONS, AND FEDERAL LAW VIOLATIONS TO : XXXX XXXX, Chairman and CEO U.S. Bank, N.A. 
XXXX XXXX XXXX XXXX, MN XXXX XXXX XXXX, Chief Financial Officer U.S. Bank, N.A. 
XXXX XXXX XXXX XXXX, MN XXXX REGISTERED AGENT : XXXX  XXXX XXXX  XXXX XXXX XXXX XXXX XXXX, GA XXXX -- - TO : XXXX XXXX XXXX, Chairman and CEO XXXX XXXX XXXX, XXXX. 
XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX XXXX XXXX, Chief Financial Officer XXXX XXXX XXXX, XXXX. 
XXXX XXXX XXXX XXXX XXXX, CA XXXX REGISTERED AGENT : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, DE XXXX DATE : [ Insert Date ] SUBJECT : FORMAL NOTICE OF SECURITIZATION FRAUD, DOUBLE PLEDGING, TRUSTEE LIABILITY, FALSE CLAIMS ACT VIOLATIONS, AND POTENTIAL RICO CONSPIRACY -- - INTRODUCTION This letter serves as formal notice to U.S. Bank, N.A. ( as XXXX for XXXX XXXX XXXX XXXX  XXXX ) and XXXX XXXX XXXX  XXXX XXXX, regarding their roles in a fraudulent securitization scheme involving the same mortgage loan being unlawfully pledged into multiple mortgage-backed securities ( MBS ) trusts, investor fraud, and federal law violations, including but not limited to the Racketeer Influenced and Corrupt Organizations Act ( RICO ), the Securities Act of 1933, and the False Claims Act. 

The Notarized Affidavit of XXXX XXXX XXXX, XXXX, a licensed private investigator and mortgage fraud expert, confirms that the subject loan was securitized into XXXX XXXX XXXX XXXX  XXXX, which U.S. Bank , N.A. oversees as trustee, while simultaneously being pledged into CWABS Asset-Backed Securities XXXX XXXX, which is overseen by XXXX XXXX XXXX XXXX XXXX as trustee . 

This evidence, supported by sworn testimony, legally admissible exhibits, and verified loan-level data, establishes a pattern of fraudulent activity implicating both XXXX XXXX XXXX  XXXX XXXX. and U.S. Bank, N.A. as co-conspirators in a scheme to deceive investors, government regulators, and courts. 


-- - EVIDENCE OF FRAUDULENT SECURITIZATION & JOINT LIABILITY OF XXXX XXXX XXXX U.S. BANK 1. Double Pledging of the Same Mortgage Loan The same mortgage loan was unlawfully securitized into two separate mortgage-backed securities ( MBS ) trusts : XXXX XXXX XXXX XXXX XXXX ( U.S. Bank, XXXX XXXX as trustee ) CWABS Asset-Backed Securities XXXX XXXX ( XXXX XXXX XXXX XXXX XXXXXXXX as trustee ) A single mortgage debt can not legally be sold into multiple trusts, constituting securities fraud, investor fraud, and fraudulent misrepresentation. 



XXXX. XXXX XXXX XXXX, XXXX. Fraudulently Claimed Ownership ( XXXX XXXX  ) While Acting as Servicer XXXX XXXX XXXX, XXXX. falsely claimed to be the XXXX ( Person Entitled to Enforce the Note ) while simultaneously acknowledging that the loan was securitized into XXXX XXXX XXXX Trust XXXX. 

The Loan Level Data retrieved from XXXX XXXX XXXX XXXX XXXX on XX/XX/XXXX, confirms that the subject loan remains in XXXX XXXX XXXX XXXX  XXXX, directly contradicting XXXX XXXX claims of ownership. 

The original Note and Mortgage do not list XXXX XXXX XXXX XXXX  XXXX as a party, nor is U.S. Bank , N.A. referenced as the trustee holding legal title to the loan. 

XXXX XXXX endorsement of the note was incomplete and legally defective, as confirmed in Exhibit A ( Esquivel Affidavit ) and Exhibit B ( Promissory Note ). 



3. False Claims Act Violations Fraudulent FHA Insurance Claims XXXX XXXX XXXX, XXXX. received FHA insurance proceeds on XX/XX/XXXX, despite the loans improper securitization and double pledging. 

U.S. Bank, N.A. failed in its fiduciary duty as trustee to prevent fraudulent claims against government-backed insurance programs, thereby enabling XXXX XXXX False Claims Act ( 31 U.S.C. 3729-3733 ) violations.

If FHA insurance was paid on a loan that was securitized, neither XXXX XXXX nor U.S. Bank should have received payments, constituting a fraudulent government claim. 



4. RICO Conspiracy Between XXXX XXXX XXXX, XXXX. & U.S. Bank, N.A. 

A pattern of fraudulent activity, deceptive mortgage assignments, and misrepresented securitization transactions demonstrates a scheme to defraud borrowers, investors, and government agencies. 

XXXX XXXX knowingly misrepresented its status as XXXX, U.S. Bank oversaw a trust that never legally acquired the loan, and both banks participated in an orchestrated effort to defraud investors and federal regulators. 

These activities constitute a pattern of racketeering activity ( RICO violations ) under 18 U.S.C. 1961-1968.

-- - DEMAND FOR DISCLOSURE & CORRECTIVE ACTION Given the severity of these violations, both U.S. Bank, N.A. and XXXX XXXX XXXX, XXXX. are hereby placed on notice and must respond within 30 days with : 1. All records related to the loan transfer, including custodial records and PSA compliance documentation for both trusts ( XXXX XXXX XXXX XXXX  XXXX and XXXX XXXX XXXX  XXXX XXXX ).

2. A sworn declaration from each bank confirming whether they were aware of the double pledging of this loan and what actions were taken to address this issue. 


XXXX. Confirmation of whether XXXX XXXX XXXX, XXXX. submitted an FHA insurance claim and whether U.S. Bank, N.A. reviewed or approved such claims. 



Failure to comply will result in immediate escalation to the XXXX, XXXX  XXXX, the FBI Financial Crimes Division, and other federal agencies, as well as the pursuit of civil and criminal legal action under RICO and the False Claims Act.

-- - RESERVATION OF RIGHTS This notice is issued without prejudice and reserves all rights to seek full legal and equitable remedies, including but not limited to : Treble damages under RICO ( 18 U.S.C. 1964 ) Damages for securitization fraud, investor fraud, and fraudulent misrepresentation Civil penalties under the False Claims Act for fraudulent FHA insurance claims -- - CONCLUSION This joint formal notice places U.S. Bank, N.A. and XXXX XXXX XXXX, XXXX. on legal notice of their direct involvement in fraudulent securitization practices, RICO violations, and False Claims Act violations. Immediate corrective action and full disclosure are expected. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX # XXXX XXXX ( XXXX ) XXXX CC : Consumer Financial Protection Bureau ( CFPB )

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