A follow up to how Countrywide is really screwing us over as individuals and as a country.February 17, 2009 certified receipt number : ________________________________
RECONSTRUCT COMPANY
Attn: Debt Validation
2380 Performance Dr.
TX2-985-07-03
Richardson, TX 75082
Cc: Countrywide Home Loans fax # 800-658-0395400
Countrywide Way
MS SV-314
Simi Valley, CA 93065
State of Nevada Office of the Attorney General fax # (775) 688-1822
Bureau of Consumer Protection
100 North Carson Street
Carson City, Nevada 89701
Re: Countrywide loan # xxxxxxx
Dear RECONSTRUCT COMPANY, Attn: Debt Validation,
This letter to you is in regards to the debt collection letter I received today from your company:
1. I dispute the validity of this alleged “debt” and portions of the alleged “debt.”
2. As the state and Federal law, Fair Debt Collections Practices Act (FDCPA), require you, I request you immediately send me including but not limited to
a. written legal validity of this alleged “debt” as mine,
b. including what I allegedly signed to create this alleged debt, with the original to be provided for examination,
c. a full and complete account history, with the original to be provided for examination,
d. all communications of any sort of all parties in validating this alleged debt, with the originals to be provided for examination,
e. how the alleged “debt” legally ended up with the Creditor you reference which is Countrywide Home Loans, with the originals to be provided for examination.
3. If you report any unsubstantiated or expired credit information to any credit reporting agencies, you will also be in violation of 1681 c of the Federal Credit Reporting Act (FCRA).
4. Your notice fails to have the legally required state and Federal disclosures, such as, but not limited to, I do not have to pay, and you can not accrue interest or costs, while I have disputed the account, while you are investigating, and are to provide me with written legally sufficient proof of the validity, and why Countrywide is the alleged legal creditor, nor can you report me as delinquent or take any action to collect the amount in question.
5. Pursuant to the State of Frauds, all communication are required to be in writing. Please write me at my below post office box to notify me only that you are complying with Fair Debt Collections Practices Act (FDCPA) and providing me with the legally required information, or you are terminating collection efforts as lawfully required to do so by Fair Debt Collections Practices Act and or NRS 11.190.
6. Countrywide Home Loans has been MAINTAINING A PATTERN OF ILLEGAL BUSINESS PRACTICES with me. That is a violation of Nevada's consumer protection laws Per NRS 598.0903, et seq http://leg.state.nv.us/NRS/NRS-598.html. Countrywide Home Loans has failed to deliver services within a reasonable time to me per NRS 598.0903, et seq http://leg.state.nv.us/NRS/NRS-598.html which is in violation of Nevada's consumer protection laws. Previously HUD did have oversight over Freddie Mac and Fannie Mae through the Office of Federal Housing Enterprise Oversight. As I had pointed out several times to Countrywide, Freddie Mac, Fannie Mae and HUD’s Note Modifications laws and rules REQUIRE Countrywide Home Loans to do a loan modification with me.
a. I first started my loan modification Countrywide is REQUIRED to do in January 2008. In spite of my now thirteen months of fax receipts documenting my written attempts with now four Countrywide employees, Temena McGee, Michelle Langley, Ashley Stix, and Brandon Coltin my complaint to the BBB and my attempt through Consumer Credit Counseling Services, inexplicably, Countrywide has not done the loan modification as they are required by law and their own rules.
b. In 2005, HUD http://www.mortgagenewsdaily.com/532005_HUD_Foreclosures.asp put forth its “FHA Loss Mitigation Program gives lenders the authority and responsibility to assist homeowners who have fallen into financial difficulties with their home mortgages.
c. Also from HUD’s then website: HUD published a final rule that dramatically increased the financial damages that HUD can seek against lenders that fail to utilize its mitigation programs.
The rules provide for additional damages of triple the amount of any FHA mortgage insurance benefit claimed by a lender. Both the positive and the negative reinforcement techniques or minimize their impact on the FHA insurance funds and homeowners themselves and are meant to prevent foreclosures.”
d. My loan was originally under Freddie Mac. As I had pointed out several times to Countrywide in my several written communications with them in the last thirteen months, Freddie Mac’s Note Modifications rules were, in May 2007, Freddie Mac REQUIRED loan modifications to AVOID foreclosures. From Freddie Mac’s website, http://www.freddiemac.com/singlefamily/news/newsletter/2007/05/loan_modi... “As the real estate market continues to change in many areas of the country, many borrowers who are facing financial hardship are finding it increasingly difficult to make their mortgage payments, which may result in jeopardized credit and even loss of their home. But help is available. We offer many alternatives to explore with borrowers who are delinquent on their mortgage payments. For borrowers who face foreclosure, it’s reducing the borrower's note rate or monthly payment, or extending the maturity date, and a loan modification is a possible option for a borrower in default.”
e. On June 7, 2006, the Secretary of HUD's Regulation of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac); Regulatory Amendments To Strengthen Prevention of Predatory Lending Practices http://www.epa.gov/EPA-IMPACT/2006/June/Day-07/i8843.htm.
f. FANNIE MAE’s foreclosure mitigation rules were similar. On October 4, 2006 , Fannie Mae also REQUIRED loan modifications to AVOID foreclosures. From Fannie Mae’s website https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2006/06-18.pdf, “This Announcement describes an additional option now available to servicers for modifying delinquent adjustable-rate conventional mortgages and introduces new and enhanced forms for documenting modifications of both adjustable-rate and fixed-rate conventional mortgages. In order to avoid foreclosures of delinquent mortgages, we allow servicers to modify the terms of delinquent conventional mortgages with our prior approval and that of the mortgage insurer, if any. Currently, servicers may recommend to us modifications that extend the term of the mortgage, provide for reamortization of the outstanding debt, change adjustable-rate mortgages to fixed-rate mortgages (using the current market interest rate for the remaining term of the mortgage), capitalize delinquent interest and escrow items or advances (and costs, if allowed by state law), and/or reduce the existing interest rate to the current market rate or to a below-market interest rate.”
g. In support of ALL the REQUIRED note modifications, there is the Emergency Home Ownership and Mortgage Equity Protection Act of 2007, http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.3609. President Bush signed HR 3648, The Mortgage Forgiveness Debt Relief Act of 2007 http://www.homesalessandiego.com/blog/bush-signs-mortgage-debt-forgivene.... It created a three-year exception, starting January 1, 2007, for IRS debt forgiveness on owner-occupied home loans. "The goal of the Administration and legislators is to reduce the number of foreclosures and the need for short sales by allowing homeowners to renegotiate their loans without tax consequences." So the clock is ticking for homeowners such as me to get their Note Modifications the lenders are REQUIRED to give them.
h. The Housing and Economic Recovery Act of 2008, H.R. 3221 requires that “purchases of foreclosed homes must be at a discount from the current market appraised value of the home or property” http://www.dhcd.state.md.us/Website/home/Document/NCSHA%20HR%203221%20Su.... It also “appropriated $180 million to the NRC to remain available until September 30, 2008 for foreclosure mitigation activities and required NRC to use $30 million of the $180 million in counseling funds to make grants to counseling intermediaries or to hire attorneys and assist homeowners with legal issues directly related to the homeowner’s foreclosure, delinquency, or short sale” http://www.dhcd.state.md.us/Website/home/Document/NCSHA%20HR%203221%20Su...
i. On August 14, 2008, HUD issued MORTGAGEE LETTER 2008-21 MORTGAGEE LETTER 2008-21. It required that: “Late fees should not be capitalized in a Modification or included in a Partial Claim. As the goal in providing the mortgagor either a Loan Modification or a Partial Claim is to bring the delinquent mortgage current and give the mortgagor a new start, the mortgagee should waive all accrued late fees.”
j. On September 17, 2008, the Statement of Sheila C. Bair Chairman Federal Deposit Insurance Corporation on A Review of Foreclosure Mitigation Efforts before the Financial Services Committee U.S. House of Representatives was made about The Housing Markets and the Impact of Unnecessary Foreclosures http://www.fdic.gov/news/news/speeches/chairman/spsep1708.html. Ms. Bair emphasized that “Minimizing foreclosures is important to the broader effort to stabilize global financial markets and the U.S. economy.” Regarding FDIC’s conservatorship of failed IndyMac, “The FDIC strongly supports programs that result in mortgage loans that are sustainable over the long term and avoid unnecessary foreclosures that harm individual borrowers and the economy. Prudent workout arrangements are in the long-term best interest of both the financial institution and the borrower. As a member of the Oversight Board for the HOPE for Homeowners Program, the FDIC is committed to successful implementation by the October 1 deadline. In addition, the FDIC will continue the systematic program now in place at IndyMac Federal to convert troubled loans into performing loans and enhance the value of these assets.”
7. Now The Federal Housing Finance Agency (FHFA) was formed by a legislative merger of the Office of Federal Housing Enterprise Oversight (OFHEO), the Federal Housing Finance Board (FHFB) and the U.S. Department of Housing and Urban Development (HUD) government-sponsored enterprise (GSE) mission team. FHFA regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. FHFA also REQUIRES Note Modifications.
7. Now The Federal Housing Finance Agency (FHFA) was formed by a legislative merger of the Office of Federal Housing Enterprise Oversight (OFHEO), the Federal Housing Finance Board (FHFB) and the U.S. Department of Housing and Urban Development (HUD) government-sponsored enterprise (GSE) mission team. FHFA regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. FHFA also REQUIRES Note Modifications.
a. FHFA Announces Implementation Plans for Streamlined Loan Modification Program (Dec 18, 2008), http://www.fhfa.gov/webfiles/267/SMPimplementation121808.pdf
b. FHFA Submits First Report on Homeowner Assistance to Congress (Dec 02, 2008), http://www.fhfa.gov/webfiles/196/EESASection110Dec208.pdf
c. FHFA Monthly "Foreclosure Prevention Report" Released (Nov 25, 2008), http://www.fhfa.gov/webfiles/188/PRAugForePrevRpt112508.pdf
d. FHFA Urges Servicers to take Prompt Action on Loan Modifications (Nov 24, 2008), http://www.fhfa.gov/webfiles/184/Servicersrelease112408.pdf
e. FHFA September Foreclosure Prevention Report Released (Dec 16, 2008), http://www.fhfa.gov/webfiles/217/SeptForeclPreven121608.pdf
8. Then the Nevada ATTORNEY GENERAL ANNOUNCES SETTLEMENT WITH COUNTRYWIDE TO HELP BORROWERS FACING FORECLOSURE http://foreclosurehelp.nv.gov/AGCountrywide2008-10-06.pdf. Loan modifications valued of reduced interest payments and, for borrowers, reduction of their principal balances; Waiver of late fees; Countrywide said the loan modification program will be ready for implementation by December 1, 2008, and that the company would engage in proactive outreach to eligible customers by then. Countrywide has failed to outreach to me. Countrywide also noted that foreclosure sales will not be initiated or advanced for borrowers likely to qualify until Countrywide has made an affirmative decision on a borrower’s eligibility. I provided my income tax returns, financial status and Hardship Affidavit to Countrywide in January 2008. Since then, I have received no response to what I submitted. According the Nevada AG’s webpage, the toll-free number for Countrywide customers who want more information is 800-669-6607. I called that number and was transferred to Brandon Colton where I left a message, followed it up with faxes to fax # 800-658-0395 but never got a response to my repeated messages nor requests. Countrywide is also now violating the December 2008 settlement agreement that Countrywide entered into with the State of Nevada Office of the Attorney General.
9. Countrywide Home Loans has a duty of good faith dealing which they have repeatedly violated with me. Aside from Countrywide’s failure to do the REQUIRED loan modification, failure to respond in writing as required to my thirteen months of written attempts,
Countrywide has been accepting my payments now for several months as PAID IN FULL, but gives me no accounting for the payments other that their posting of my PAID IN FULL payment as an illegal “unapplied.” Since Countrywide has been cashing my PAID IN FULL checks, the Notice of Default Countrywide just filed is also illegal.
10. There’s NO evidence RECONSTRUCT COMPANY has lawful authority to do what they have done, which is,
a. According to the NOTICE OF DEFAULT, “RECORDING REQUESTED BY RECONSTRUCT COMPANY.”
RECONSTRUCT COMPANY appears instead to be engaged in fraud. According to “Important Legal Notice NOTICE OF DEFAULT, RECONSTRUCT COMPANY, N.A., acting in its capacity as agent for the beneficiary,” alleges it’s the agent for the beneficiary and that “the Creditor to whom the debt is owed is Countrywide Home Loans.”
WRONG
a. RECONSTRUCT COMPANY is NOT the agent for the beneficiary.b. Countrywide Home Loans is NOT the Creditor.
Here’s why:
a. RECONSTRUCT COMPANY has provided NO evidence that they are their claimed "agent for the beneficiary.”b. According to the Deed of Trust RECONSTRUCT COMPANY references, the lender is Colonial Bank, N.A.
According to “Nevada Important Notice RECONSTRUCT COMPANY, N.A., claims to be “the duly appointed Trustee under a Deed of Trust”
WRONG
a. Reconstruct Company is NOT the duly appointed Trustee under a Deed of Trust
Here’s why:
a. According to the Deed of Trust RECONSTRUCT COMPANY references, the Trustee is FIRST CENTENNIAL TITLE COMPANY.
According to the Deed of Trust RECONSTRUCT COMPANY references, the “Trustee shall give public notice of the sale to the persons and in the manner prescribed by Applicable Law.” The Trustee according to the Deed of Trust RECONSTRUCT COMPANY references, is FIRST CENTENNIAL TITLE COMPANY. FIRST CENTENNIAL TITLE COMPANY has failed to “give public notice of the sale to the persons and in the manner prescribed by Applicable Law.”
I am again making request upon Countrywide to immediately comply with the law and grant me the REQUIRED note modification including permanent principal reduction, a permanent reduction of interest with at a 30-year fixed loan, waive all alleged late charges accrued, waive all alleged fees related to Countrywide posting my payments as “unapplied,” waive any and all alleged fees relating to the note modification, and waive any and all other alleged fees and costs.
I am again making request upon Countrywide to immediately comply with the law and grant me the REQUIRED note modification including permanent principal reduction, a permanent reduction of interest with at a 30-year fixed loan, waive all alleged late charges accrued, waive all alleged fees related to Countrywide posting my payments as “unapplied,” waive any and all alleged fees relating to the note modification, and waive any and all other alleged fees and costs.
I am again making request upon Countrywide to immediately comply with the law and grant me the REQUIRED note modification including permanent principal reduction, a permanent reduction of interest with at a 30-year fixed loan, waive all alleged late charges accrued, waive all alleged fees related to Countrywide posting my payments as “unapplied,” waive any and all alleged fees relating to the note modification, and waive any and all other alleged fees and costs.
For foreclosure, loan modification and mortgage fraud issues, I recommend Hager & Hearne Law Office. This law office is also doing nationwide class actions lawsuits against the lenders for the illegal foreclosures, the lenders failures to do the required loan modifications, and they are up on the mortgage fraud.
Treva J. Hearne
245 East Liberty Street, Suite 110
Reno, Nevada 89501
(775) 329-5800 Fax Number: (775) 329-5819
http://www.babelation.com/?q=node/1730
Copyright © 2008 Craig Bhttp://reno.broowaha.com/profile.php?id=1516
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