15 May, 2019 → by ClaimboUser324291
Fraud with FEMA insurance and Escrow accounts

I am a victim of Caliber Home Loan, Inc. deceptive practices with escrow, insurances; Government-backed securities, identity theft; unjust enrichment; breach of fiduciary duties; bad faith and other misconduct. On July 29, 2016 I signed a VA mortgage loan with a lender who offered me monthly payments of $896.94. A big chunk of this payment was my escrow account which included $1,177 per year FEMA Flood Insurance for properties located in a flood zone. However, based on a recent survey from a local Company, my property is not even included in FEMA Flood Map, so my $98 per month payment for FEMA's Flood insurance was obviously a fraudulent attempt to extort more money. The conditional approval of my VA loan came from Caliber Home Loans, Inc, aka Countrywide Financial - which did not catch my attention until I started to closer review my documents due to their deceptive business practices; scam with my escrow and an obvious identity theft. The document which I signed as a Mortgage was in fact a camouflaged Initial Intent to Issue Mortgage-Backed Securities using my name, my home, my signature and my reputation as a collateral to sell and resell it myriads of times by all possible companies, without any disclosures and without my consent to be sold hundreds of times per day; making millions of profits for Caliber, PennyMac; and their co-conspirators like CoreLogic whom Caliber sold my private information and who resells it to predatory lenders lice Price Choice who bombarded me with offers to refinance my VA loan into adjustable rate loan, with cashout and without income verification. None of Prime Choice offers contained a mandatory disclosure where they obtained my information, I had to contact them. Furthermore, nobody informed me that my home, my name and my signature will be used as a collateral for private Firms’ IPOs. On May 1, 2019 PennyMac, whom Caliber sold my loan in April, sold 8 million of their shares backed in part by MY name and signature, to investors for about $168 million, with an option to sell another 1.2 million of shares, which would total about $195 million profits for PennyMac, on top of their sales on various CMO’s CDO’s and other products backed by my name and signature hundreds of times per day aka Ponzi scam. I purchased this $134K loan with a substantial amount of money, over $90K on top of the house price, just to learn that is not a loan anymore but unsecured instrument sliced and diced in thousands of pieces and traded several times a day which made millions of profits for Caliber and PennyMac without my consent Of course nobody disclosed me profits received from selling my home and my private information; and millions received by trading on my name. No need to say, nobody offered me to share any parts of received profits. To the contrary, they continue to collect substantial interest payments each month while my loan was paid in full many times of its value. Ginnie Mae (GNMA) was a Guarantor for my loan who does not directly issue, sell or buy pass-through MBS nor does it purchase mortgage loans. Instead, private lenders approved by Ginnie Mae originate loans that are eligible, pool them into securities, and issue the instruments. GNMA guarantees the loans, but does not service them. However, I doubt if my loan was actually legally placed in any legit Trust. I also doubt if GNMA is still a guarantor for my loan. Here is a good possibility that my loan was somehow transferred to Lone Star Funding, who owns a huge part of Caliber . I think my loan is actually claimed to be an asset as part of some of their Delaware Statutory Trusts that is being concealed. It would be under a “private label”. The reason is that the loan is guaranteed by VA. I further suspect that my loan was recently purchased by BlackRock who owns a huge stock at PennyMac whom Caliber transferred servicing of my loan. Both, Caliber and Penny Mac are actually the SAME company, Countrywide, who operates these Delaware-incorporated and closely related to each other predatory organizations. Almost ALL executives at Caliber and PennyMac are Countrywide executives; and deploy the same criminal practices which collapsed US economy in 2006. On August 17, 2016 my lender sold servicing rights to Caliber Home Loan, Inc. who started manipulating with my mortgage payments shortly after accrued the loan. As soon as Caliber became a Servicer, my mailbox was swamped with letters from predatory lenders who were amazingly informed about my loan, including amounts owed and monthly payments; and who offered me adjustable rate loans without income verification and with substantial cash-outs. Sometimes several letters a week. One of the most annoying was Prime Choice Funding who sent me numerous letters which looked like official Government's documents. Worth to mention, Prime Choice was sued in Washington for predatory and deceptive business practices, the legal case link is below. Prime Choice also sells VA loans likely subsidized by Caliber or PennyMac. When I contacted Prime Choice and demanded explanations where they found my private information, they said that it was provided by CoreLogic, a subsidiary of First American Title and the owner of Countrywide’s Landsafe Appraisal Management Company. First Title of one of the main Title Insurers for fraudulent foreclosures sold to new buyers by fake REMIC Trusts non-existing Boards of Directors. The same CoreLogic in 2013 purchased Middletown, CT-based business mapping who provides evaluations for flood zones. Caliber never provided me any disclosures how my property was assigned in FEMA's flood map if FEMA even never did any research on it. From the beginning of its servicing Caliber systemically violated their duties to disclose and refused to communicate with me when I specifically ask for explanations about payments changes. After several months of $896.94 payments, Caliber suddenly reduced my monthly bill to $794.10, without any explanation about this change. Now I understand that this deceptive tactic is used to make a false impression that homeowners owe less payments on their loans; and artificially create a deficiency, which is a part of a fraudulent scheme created to push owners into defaults and confiscate their homes for shady investors. For example, Caliber billed me for about a year $794.10 - while they were perfectly aware about any possible deficiencies when they paid taxes and insurance, so, in 6 months the deficiency should be obvious. But Caliber continued its reduced billing while apparently covered shortages from their own funds and never told me about any "shortages". Amazing charity! Worth to mention, Lone Star Funding were Caliber has interest in at least five funds, makes their main profits by buying distressed mortgages guaranteed by the Government; and massively foreclose on them. Lone Star does not need our mortgage payments; they need our homes; and Caliber, who has a fatal conflict of interest to be a Servicer on Government-backed loans, works hard to supply Lone Star with the inventory by pushing borrowers in default using this simple trick with artificially created by Caliber "escrow shortages". On January 1, 2018 Caliber suddenly sent me an Annual Escrow Account Disclosure Statement where they said that my new monthly payment will be…$1,066.74 due to “escrow shortage” – while none of my mortgage terms or other payments were not changed. It is a well-known “Escrow Shortage Scam” conducted by Servicers to accumulate additional funds for their benefits by overcharging customers; and intentionally push them into foreclosures by suddenly and substantially increasing their monthly payments by up to 50%. My actual mortgage payment with principal and interest is $606.21, while Caliber tried to collect from me $1,066.74. I tried to communicate with Caliber about this “shortage” – without any accord, so I had to submit a Complaint with CFPB and Caliber suddenly reduced my monthly statement from $1,066.74 to $950.10 – again, without any explanations. It is very clear that here was no $1,066.74 “shortage”, Caliber merely wanted to defraud me and steal $116.64 per month under false pretenses; and I suspect Caliber’s scam worked well with many other borrowers, which substantially enriched Caliber at the detriment of defrauded home owners, most of whom have limited fixed incomes. Caliber manipulations with my escrow account have other ill-driven pecuniary interest. By claiming false "escrow shortage" - which Caliber originally calculated at $1,066.74 - they attempted to push me into a hardship - which substantially benefits Servicers. It is not a secret that Servicers make their revenue from servicing loans on behalf of the beneficiary. When a servicer works for a securitized trust they make a steady fee based on the total sum value of all the loans they service for the trust. Missed payments are added as principle to a balance which increases the loan pool which increases the servicer’s fee. The longer loans stays in default, the more arrears borrowers build up, the larger their loan balance gets and the more money the servicer makes. Servicers make additional fees if a borrower defaults in the form of late fees or “process management fees.” The servicer charges these fees to the borrower often without any supervision by the beneficiary. Thus, the sudden increase in payments due to non-existing "escrow shortages" intend to put homeowners in default which will guarantee Servicer Caliber handsome profits by (1) accumulating unjust enrichment by overcharging borrowers (in my case it was $116.64 per month); (2) force homeowners to miss payments to increase Caliber's fees. My loan is relatively small, yet Caliber managed to accumulate over $1,750 in "deficiency". People who have $300-400K loans and received $12-15K "escrow shortage" simply would not be able to afford additional $1-2K payments on their loans and fall into defaults. In January 2019 I received two important documents from FEMA and County’s Tax Assessor’s office which significantly reduced my escrow balance. FEMA sent me a Map Amendment Letter which allowed me to remove $1,177.00 for flood insurance; and The Assessor reduced my property taxes. On January 19, 2019 I sent a letter to Caliber, along with supporting documents, asking to remove these charges from my mortgage bill and adjust my escrow. My monthly statements are usually coming on 11th of each month, so Caliber had plenty of time to recalculate my payments for February 2019 statement. Caliber never acknowledged the receipt of my letter, failed to make adjustment, and continued to charge me $950.10 in February while Flood Insurance much be removed. On February 22, 2019 I sent a second letter to Caliber, again asking to adjust my escrow. Caliber failed to respond or acknowledge receipt of my letter but reduced my monthly statement to $854.76. The flood insurance was $1,177.00, which is $98.08 per month. Caliber calculation of $950.10 - $854.76 makes it $95.34 per month, which they deducted from my escrow, which is $2.74 difference, in favor of Caliber of course. This is a small amount of money, but if Caliber has at least 100,000 customers and regularly overcharge them by at least by $2.74, it brings Caliber a handsome profit of $274,000 per month without moving a finger, just by manipulating borrowers’ escrow funds; plus overcharging me by $98.08 in February, when Caliber knew that FEMA flood insurance was removed but charged me for it. On March 21, 2019 I again sent Caliber a letter asking to explain, itemize and recalculate my escrow account. Again, no response. I had to submit a Complaint with CFPB, where I demanded Caliber’s explanation; refund of unlawfully collected funds; and disclose me certain information, as required by TILA and RESPA. 1. When my loan was converted into a security and why they never provide me any disclosures or asked for my consent; 2. The name of the REMIC Trust which currently holds my mortgage and Note as a security instrument; 3. The name is the current Trustee for the Trust; 4. Copies of valid registration with SEC and IRS (Pub 938); 5. Copies of a valid Pooling and Servicing Agreement for ALL Trusts who ever held my loan as a security. 6. How many securities , derivatives or other products were created based on my loan, my home, my name, my signature and my reputation; 7. How many times my home was resold as securities; to how many investors; and how much profits Caliber and other parties received from trading on my loan, my house, my name and my reputation. 8. Why Caliber never made any disclosures regarding converting my home into a security and about compensation they received from trading 9. How my mortgage payment was calculated and why Caliber refused to adjust the escrow amount according to recent changes in FEMA’s insurance and taxes. 10. Order Caliber to refund me any overpayments on my escrow; disclose amount of trading profits; and pay me a fair share from their trades. ALL of stated above information is a public record, under SEC Act of 1933, 1934; and not privileged. When fraud was suspected, SEC disclosures are mandatory to ALL securities, including GNMA. On May 3, 2019 Caliber responded to my Complaint and made following false and misleading statements. According to Caliber, they conducted an annual escrow analysis on my loan on January 30, 2019. The analysis determined an escrow account shortage of (-) $478.76, which was spread over 12 months. The total monthly payment adjusted from $950.10 to $854.76, effective April 1, 2019. I never received any annual escrow analysis; and Caliber’s calculation of my new payment is fatally wrong. According to Caliber, my new “shortage” was $478.76. If spread over 12 months it would be $39.89 per month. But the difference between $950.10 and $854.76 is $95.34, or about the amount of Flood Insurance which I asked to remove. I respectfully demand Caliber to explain how they calculated my “shortages” and “adjustments” if none of them match. I think Caliber fabricated this "Review" after I submitted my complaint to CFPB and even did not bother to put a somehow suitable amount. Caliber further stated that “Caliber has not received any documentation indicating the property is no longer located in a designated flood hazard area”. This is a lie. I could understand if Caliber misplaced one letter – but I mailed it three times, in January, February and March – so even such negligent company as Caliber should receive at least some of my correspondence (checks mailed the same days they received and cashed promptly). Caliber also advised me that the information I requested in questions 1-8 (above) is proprietary and will not be provided. This is another lie. All this information is a part of mandatory SEC filings and IRS registration under Pub. 938, thus public information and must be provided under 12 CFR § 1024.36. Caliber further stated that Caliber is the “current note holder” This is a blatant lie. Ginnie Mae have a special document custodian who handles the paperwork, not Servicers. The document custodian is required to certify to Ginnie Mae that the loans constituting the pools of mortgages (as collateral for Ginnie Mae securities) are represented by the documents placed in the document custodian’s control. The document custodian works under direct contract with the Issuer, but has a fiduciary responsibility to Ginnie Mae. A loan servicer who wants to see a Fannie Mae loan, for example, has to register for Web access to the custodian's portal, confirming his identity in the process. Caliber intentionally tried to mislead me about their relationship to my loan which supports my conclusion that my loan was likely sold some shady investors, likely Lone Star, who engaged in illegal trading with unregulated US Securities; and now transferred from one Countrywide branch (Caliber) to another, even more criminal branch, PennyMac, which is basically the same Countrywide. I will not be surprised to learn that Ginnie Mae, whose recent president Michal Bright is former Countrywide trader; and an executive for BlackRock and PennyMac, sells performing Gov't loans to Caliber and PennyMac who would do anything possible to convert them into defaulted loans and promptly foreclose since 99% of their crime victims do not understand this Ponzi scam.
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