Consumer complaint received 2020-05-09 00:00:00
Product: Debt collection — Mortgage debt
Issue: False statements or representation — Impersonated attorney, law enforcement, or government official
Company: PENNYMAC LOAN SERVICES, LLC.
State: MI

Complaint narrative:
Complaint against XXXX XXXX XXXX  ( XXXX ) and their sham conduits XXXX XXXX XXXX XXXX XXXX. ( XXXX ) and PennyMac Loan Services , LLC ( PennyMac ) ( formerly known as XXXX XXXX ) for massive fraud with XXXX XXXX securities ; impersonation and deceit ; identity theft ; common law fraud ; illegal default of a performing loan ; fraudulent collection in violation of RICO and FDCPA ; violation of RESPA and TILA Act ; unjust enrichment ; False Claims under CARES Act and other crimes. 

I also request a forbearance from BOA racketeering activities as provided under CARES Act of XX/XX/XXXX ; a full disclosures how many financial products such as securities and/or derivatives backed by my personal data were issued by BOA, XXXX and PennyMac. Full disclosures how much BOA and their sham conduits made from trading my personal data labeled as mortgage backed securities ; royalties from ALL trades on any " security '' or " derivative '' backed by my identity ; and a CREDIT to my loan from ANY payments received by PennyMac from the trades and CARES bailout while PennyMac falsely claiming losses which PennyMac never suffered. I also request treble damages for fraud ; treble damages for racket and damages for severe emotional distress I experience dealing with BOA gang of criminal conglomerates who relentlessly deceive investors, and commit endless mortgage and foreclosure fraud. BOA, XXXX and PennyMac illegally foreclosed on tens of thousands of Americans through a mass perjury scheme and pushed worthless mortgages on pension funds and unions and continue to do it as of today. 

So-called servicer PennyMac approached me on XX/XX/XXXX and informed that someone ( whom PennyMac can not identify ) purportedly SOLD them my performing XXXX XXXX loan ( which was not available for sale since XXXX XXXX does not sell performing loans ) and now PennyMac claims to be a creditor/an owner/investor/Issuer/Creditor and Servicer for XXXX XXXX XXXX which nobody can identify - all without any prove in support.. 

When I asked PennyMac to provide me a validation of my debt, the name of the Seller of my loan ; the name of XXXX XXXX XXXX PennyMac is purportedly servicing and a proof of value paid for my debt as required under Art 9 UCC, PennyMac was unable to respond and relentlessly lies to me repeatedly contradicting with its own statements and with other parties responses. 

According to XXXX XXXX XXXX XXXX XXXX, the Issuer for securities backed by my loan ( in fact by my personal data ) was XXXX XXXX XXXX, XXXX ( formerly XXXX XXXX ) who never confirmed its role as an Issuer of any securities or as a Seller of my so-called loan to PennyMac. Because securities backed by my information were issued by XXXX who is now collecting my payments via PennyMac who threatens me with bogus foreclosure and violates every single law in this XXXX. 

XXXX  XXXX XXXX created a very profitable myth which they called securitization of mortgages which in fact is a securitization of borrowers personal data which XXXX sells to investors under glimpse of mortgage backed securities while collects revenue from multiply sources such as trades of fake " mortgage backed securities '' ; collects loan payments ; trades from derivatives and other hedge contracts ; and profits from sales of illegally foreclosed homes. 

Moreover, it is clear that XXXX  XXXX XXXX internally defaults performing loans ( which is supported by PennyMac statements who purchased my performing loan in XX/XX/XXXX ) to steal investors money under glimpse of repayment of Servicers advances which Servicers never made to any investors ; to get unjust profits and to evade taxes in enormous proportions by XXXX as purported recovery of the debt. 

In fact, investors dont receive servicer advances. Nobody does. Servicer advances are actually just data computations of what part of the payments received by investors will be labelled servicer advances in the future. 

Once they are labelled as servicer advances this creates two new opportunities to excuse BOAs theft from investors. 

First, XXXX acting as Master Servicer withdraws money from a reserve fund consisting entirely of money advanced by the same investors who purchased certificates promising them regular payments from the investment bank purportedly " backed by mortgages ''. This is not some trust fund. It is merely an accounting entry that covers money stolen from investors. 

The new announcement that the government is going to pay those servicer advances is a straight out gift to XXXX. 

It is the XXXX  XXXX XXXX who is getting the money not any servicer. What entries they are making on their own books of account is anyones guess. But I am sure of two things : the receipt of that money is revenue and that revenue will be labelled as something other than revenue so it wont be taxed. 

Second, the XXXX forecloses on property acting through servicers who pretend to be representing a trust that doesnt exist or a trustee with no trustee powers over a debt that no longer exists on the books of any company or any investor - while PennyMac continues to lie about " servicing '' some mysterious XXXX XXXX XXXX which, bear to repeat, nobody can identify, including XXXX XXXX. 

When the property is sold the amount labelled as servicer advances is deducted from the proceeds of the sale. So investors get nothing. Borrowers also get nothing. 

With government paying the servicer advances the investment bank still gets to make that claim even though they never paid it. That is because they were never going to pay it anyway. Servicer advances are a ruse to take the money from foreclosure sales and keep it. 

But by labelling it as a recovery of money, they pay no tax because they dont report it as revenue. 

Meanwhile the homeowners like myself is kept in the dark about all of this - and must be kept in the dark otherwise BOA fraudulent scheme will not be able to exist. 

The homeowner does not know from where money for their loans are coming from - and nobody is going to disclose it since it must be a secret. The homeowner does not know that the parties claiming to be creditors are getting paid by the government. The homeowner does not know that even his hypothetical obligation has been reduced on the receiving side. The homeowner does not know that the statement showing the payments and balance due is false. The homeowner does not know that the default letter is based upon a false claim of amounts due. And the homeowner does not know that the proceeds of the forced sale of his house will never be used to pay down his debt because there is no debt on the books of any company or person. 

Because as soon as people like myself will learn how brazenly XXXX   XXXX XXXX and their sham conduits defraud us during every step called " purchase of a home '', with indentity theft instead of loans, with fatally broken property Titles and with internally defaulted loans while borrowers never missed their payments because XXXX trades us like their cattle on the open market - this scam will collapse American housing and stock market which is undermined by XXXX fraud. 

Of course XXXX  XXXX XXXX doesnt want anyone in government or the public domain thinking about the simplest element of double entry bookkeeping, or generally accepted accounting principles ( XXXX ), or the Financial Accounting Standards Board ( XXXX ) or the Securities and Exchange Commission ( SEC ) for one very simple elemental reason : there is no company or person who is reporting to anyone that my obligation is an asset on their balance sheet either specifically or under any group heading or category. NONE. ZERO. 

The simple reason why - XXXX XXXX eliminated the debts at the same time they created the appearance of the debts or shortly after creating them. 

Without anyone owning or reporting my obligation as their own asset, there is no creditor by definition. Without a legit creditor ( as PennyMac call themselves without any proof ) there can be no enforcement of a my debt because nobody is entitled to the proceeds of enforcement. Since they didnt pay value for it as required under the law, UCC Art. 9, 203, they have suffered no loss from my nonpayment. Without loss there is no claim. 

Bear to repeat, I many times demanded a full validation of my debt which PennyMac never provided, in violation of Fair Debt Collection practices Act while PennyMac ( read-XXXX XXXX XXXX ) continues to extort from me revenue for BOA while they must cease all  collections until all information particularly the name of the Seller and the name of the Trust, which no one can provide me claiming it overly broad and proprietory Worth to mention, without my signature on the loan ( aka a document which allowed XXXX and others to steal my identity for their illegal trades ) here would be no securitization at all. Remove my signature and here would be no so-called securities ; no Trusts ; no Trustees ; no Mortgagees and no Servicers. Mr. XXXX XXXX would not collect his paycheck to lie and defraud me as much as he can ; as well as he defrauds others on the daily basis. 

It is clear that XXXX and their sham conduits do not want me and other borrowers to be informed about the true nature of my transaction which is a flagrant violation of my rights as a customer and as a party of the Contract. Under the law, I have RIGHTS for full disclosures, for an informed consent ; for a CREDIT if the opposite party receives more than the amount I purportedly " owe ''. XXXX wants to keep it as a secret, so they can keep collecting my payments as a revenue after XXXX made about {$12.00} per {$1.00} from my loan ; stole money from investors under glimpse of " damages '' and " servicers advances '' from my internally defaulted loan ( which was likely the very same day as I signed my application on XX/XX/XXXX ) - plus they want money from Federal bailout - without crediting me a cent ; and without any royalties from trades. 

No homeowner, consumer or borrower created this situation and there is no law supporting the scheme that XXXX XXXX calls securitization because securitization has always meant and still means the sale of an asset, split into pieces. If nobody is claiming to be the creditor and can not prove its role as a creditor by PAYING VALUE FOR THE DEBT, under UCC, which is a Federal Law ; there is no securitization. It is a myth to create enormous profits for XXXX and their sham conduits ; falsely obtain gifts ( bailouts ) under glimpse of damages caused by borrowers non-payments ; collect loan payments as a revenue, on top of trade profits from borrowers identities ; and illegal foreclosures based on forged documents which also go as a revenue to XXXX. 

Since I am a victim of XXXX  XXXX XXXX who created this Biggest crime in the World history ; I have no other option to request forbearance and full and HONEST investigation from CFPB. 

Best regards, XXXX XXXX, victim of XXXX  XXXX XXXX illegal securitization of borrowers identities.

Company response to consumer: Closed with explanation