Wall Street is Lying to Investors of All Stripes

Like always, there is the “in-group” and then everyone else. Ocwen is viewed as a hot trade even though it has no discernable business base other than receipt of income from conduits or sham conduits who have nothing to do except serve as conduits for payments of money to Ocwen — but as long as it is needed as a front for Wall Street. Any security analyst will tell you that this is a company that is just waiting to be thrown under the bus by the real culprits in a concealed scheme.

Investors who have purchased certificates and then received “reports” are actually left with nothing at all. I keep getting reports like the following:

If you go in Edgar and look up a specific pool. Mine for example has the wrong zip code listed and wrong property type. This is all the investor can see. When an investor looks at my pool in question they think they are getting a 1-3 family building in Times Square. The reality is a 10 plus unit, single rooming house in Harlem NY. Investors where shown one thing. But the reality is so much different. There is no way for an investor to reconcile this. They are only give loan number and zip code. They cannot check on the authenticity of ANYTHING they invested in. Homeowners and investors were played the same way.

Wall Street gets away with his because of the sheer volume of data they have published — mostly under disclaimers as to truthfulness validity and authenticity. Plus of course, there is the simple fact that Wall Street is like Congress. practically nobody reads anything before they act.

3 Responses

  1. Here is that PennyMac filed with SEC, Form 10K where PennyMac stated its State of Registration (Maryland while PennyMac is located in CA which is a “dry” state aka prohibits table funding) . PennyMac’s Trust actually has EIN, unlike fake Ginnie Mae Trust where my “loan” is purportedly “pooled”

    Note how evasive is this form. PennyMac is posed as a “biggest LENDER” by Wall Street Banks – but their SEC filings tell a different story. PennyMac always call themselves “ORIGINATOR” who is engaged in PRODUCTION of mortgage loans.

    “we are in production of mortgage loans: and management of investments RELATED to mortgage market.”

    In our loan production activities, we earn interest income, gains or losses during the holding period and upon the sale of these loans, and retain the associated mortgage servicing rights (“MSRs”). Our loan production segment sources new prime credit quality first-lien residential conventional and government-insured or guaranteed mortgage loans and home equity loans through three channels: correspondent production, consumer direct and broker direct lending

    “We are a specialty financial services firm with a comprehensive mortgage platform and integrated business primarily focused on the production and servicing of U.S. residential mortgage loans (activities which we refer to as mortgage banking) and the management of investments related to the U.S. mortgage market. ”

    “Our principal mortgage banking subsidiary, PennyMac Loan Services, LLC (“PLS”), is a non-bank producer and servicer of mortgage loans in
    the United States.”

    “We conduct our business in three segments: production, servicing (together, production and servicing comprise our mortgage banking activities) and investment management.

    The production segment performs loan origination, acquisition and sale activities.

    The servicing segment performs loan servicing for both newly originated loans we are holding for sale and loans we service for others, including for PMT.

    The investment management segment represents our investment management activities, which include the activities associated with
    investment asset acquisitions and dispositions such as sourcing, due diligence, negotiation and settlement.

    In correspondent production we manage, on behalf of PMT and for our own account, the purchase from non-affiliates of mortgage loans that
    have been underwritten to investor guidelines. For conventional mortgage loans, we perform fulfillment activities for PMT and earn a fulfillment fee for each mortgage loan purchased by PMT. In the case of government insured mortgage loans, we fulfill them for our own account and purchase them from PMT at PMT’s cost plus a sourcing fee.

    Through our consumer direct lending channel, we originate mortgage and home equity loans on a national basis. Our consumer direct model
    relies on the Internet and call center-based staff to acquire and interact with customers across the country. We do not have a “brick and mortar” branch network.

    In broker direct lending, we obtain loan application packages from third-party mortgage loan brokers for mortgage loans, underwrite and fund
    mortgage loans for sale to PMT or investors.

  2. No, they are NOT clueless. I wrote to ALL Senators and most congressmen. They are cover ups who help to defraud investors and homeowners. They all lie to us and cover for each other lies.

    And they will only act when their own career will be in jeopardy. But since they all cover up for each other, it is unlikely if anyone in the Government will be charged in conspiracy top defraud the entire Nation

    Example: I asked Senators Peters to help me to identify who is the owner of my loan. His office sent an official request to HUD.

    It took HUD about 4 months to send Peters a one-paragraph letter full of lies.

    According to HUD’s Senior VP Michael Drayne, whose Chevy Chase Bank defrauded insurers and investors from $5.2 Billion, my “loan” in some secretive “pooled security” with Ginnie Mae (but no name of this “pooled security” ) and the Issuer is Caliber Home Loan (fka Countrywide Financial)

    But another group of Countrywide liars, who now call themselves PennyMac, lied to CFPB that they are Buyers, Owners and Issuers of certificates backed by my loan in some fake “pooled security” which PennyMac’s liar on payroll Efren Saldivar created out of his imagination since here are no records of this “pooled security” anywhere.

    No investigation, no further actions from Senator Peters.

    And Saldivar continues to lie and avoid to answer my direct question – who sold my “loan” to PennyMac and that is CUSIP number for his “pooled security” which PennyMac is servicing for the benefit of investors while the investor is PennyMac.

    Nobody confirmed that they sold anything to PennyMac. Caliber never claimed to be an “issuers” – but merely a Servicer – yet nobody took any steps to investigate anything.

    MI AGs analyst Kimberly Weber once contacted me and repeated the same lies from the script provided to her by Wall Street Banks. She took absolutely no action to identify a SELLER of my “loan” to Penny Mac or provide me any basic information about the Trust. No further responses from MI AG, who is an accomplice to Wall Street Banks crimes.

    SEC stay quiet about all my inquiries even though I sent many demands for respond. SEC are accomplices for Wall Street Banks crimes.

    CFPB closes all my complaints as soon as Efren Saldivar and Caliber’s liars submit another absurd lie. CFPB are accomplices for Wall Street Banks crimes.

    I submitted my demand to investigate illegal transfers to my Title Insurance company, First American Title, who happened to be a partner with CoreLogic, Inc who help Black Knioght, Inc (part of Fidelity National Financial who owns many Title insurance companies) to defraud homeowners and investors

    First American Title refused to assist me claiming that my “loan with fake Lender Perl Mortgage is exempt from coverage. I told them that I never had any “loans” with Perl who merely passed me money from a Wall Street Bank as a commission and PennyMac merely stole my information from Black Knight, Inc who is the servcer, to defraud their own investors – zero respond.

    Bell Title company, who is a sham conduit for First American Title and pretend to be an underwriter to defraud homeowners about who will actually issue their Title policy, refused to help as well.

    They ALL benefit from defrauding homeowners and investors and will continue to defraud as long as this crime is covered by the Government and Courts

  3. Wall Street can only get away with what Congress allows them to get away with. If you write your Congress person or senator – you will get no response. Can anyone tell me that they are all “clueless?” IF so, we are in big trouble.

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