November 27, 2011

Alfredo & Sherry Hernandez 27612 Tarrasa drive Rancho Palos Verdes, CA 90275 (310)833-8847

Kamala D. Harris Attorney General Public Inquiry Unit Office of the Attorney General P. O. Box 944255 Sacramento, CA 94244-2550 Attention: Mortgage Fraud Unit Re: MORTGAGE FRAUD PennyMac Attorney General, This letter is a follow-up to my previous four letters. I called your office a few weeks ago to ascertain if anything was being done toward charging the Banksters that had knowingly put our economy in this avalanche of loss. I wanted to know if my letters had been received and if anything was being done toward getting relief for the homebuyers who are fighting for their homes. I was told to “write a letter.” I have written several. It is because of your recently formed Mortgage Fraud unit that I had hoped to draw attention to the kind of abuse we homebuyers are forced to endure. The fact that we have written your office numerous times and still nothing is done is indicative of the frustration we feel with our legal system as we learn just how unimportant we are considered. There was a time when professionals were held to a standard of integrity, but it seems that the primary ones held to that standard now are the homebuyers. We are labeled “deadbeats” who cannot handle our money, who got in over their heads and didn’t think ahead, while the ones who orchestrated this present disaster are rewarded with new business ventures, as in the case of PennyMac. PennyMac has just recently acquired our loan and moved immediately toward foreclosure after NOT honoring the temporary modification that had been issued by CitiMortgage. 1 CitiMortgage sold our loan after making a temporary modification agreement with us and before the agreement was completed.2 After PennyMac received our loan they went immediately for foreclosure. When we objected, they allowed us to fill out a HAMP modification form, even though we informed them that we did not qualify for HAMP unless they reduced the principle balance. Still, they insisted and then sent us a form letter telling us we did not qualify for HAMP. 3

Copy of CitiMortgage mod CitiMortgage sells our loan to PennyMac 3 Copy of PennyMac Hamp rejection letter
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This would almost qualify for a comedy skit, if it were not our lives on the line. Why are our public officials not doing anything about this travesty? Private citizens could not get away with giving our word and then reneging on our agreement as the Corporations are allowed to do! After turning us down for a HAMP modification, which we knew before we started, they offered to have a “board meeting” to see if they could make an exception for us. I am enclosing a copy of the Modification they offered us.4 It is $100,000 more than our original loan with Countrywide, when we purchased this property, and $200,000 more than the value of the property5. In addition, PennyMac is charging us $995 just to consider this temporary modification, which they have left open-ended so that they can deny us at anytime during the process! This is leaving us with the uncomfortable feeling of not having control of our own lives. Is this really an acceptable way to do business? We have written to your office previously about how we were held to a prepayment penalty we did not agree to, by Countrywide HomeLoans. We have been trying for over four years to do things the right way, to take our differences to court before a jury and we have been blocked at every turn. Even when the court had hearings the judge took the attorneys behind closed doors and we were not allowed to be privy to what was going on in our own lawsuit, other than our attorney coming out and relaying the information. What kind of justice is this? We cannot afford this modification that is tantamount to robbery. After all we have been through to get away from the bad practices of Countrywide Home loans, they are allowed to have control over our loan again under the guise of PennyMac. They profit over their past DOCUMENTED6 bad behavior, and we are forced into bankruptcy! Is it any wonder the people of our nation our camping out on government facilities? I am enclosing a copy of our response to PennyMac, which included our recommendation for a modification we could live with.7 We also forwarded a letter addressed to Stanford Kurland outlining our plan. (I have not included that here). I believe that this format could work with the citizens who are struggling to save their homes and who have spent their lives living as responsible citizens. All we need is the opportunity to make things right again without being openly robbed! I am including with this letter a cost breakdown of what this fiasco has cost us in additional money because of mortgage fraud.8 This does not even entail the emotional stress. Something needs to be done, and soon. Every day that goes by with inaction another innocent family is tossed out onto the street, the poverty level goes up and our faith in our government and way of life is ripped apart. Your office has set up a mortgage fraud task force. When will we see your office go after MORTGAGE fraud? There is more than enough “experts” and “evidence” to begin to formulate a lawsuit holding the corporations accountable. The truth is out there, just search the internet for the millions of stories of people like us, who have NOT lost their jobs, but are still losing their homes, due to fraud and misrepresentation by the mortgage lenders!

copy of loan mod from PennyMac Zillow property estimate 6 a SMALL smattering of documented bad behavior. 7 Response to PennyMac’s mod offer
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cost of damages

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Again, please review the enclosed correspondence and use it to crack down on the lenders and their abusive practices. Close THEIR offices and confiscate THEIR files and bank accounts. Stop them from being allowed the freedom to continue to abuse their customers without evidence. At the very least your office could put a stop to all non-judicial foreclosures and make them prove their cases. I am available to answer questions at the above number. Just call. Respectfully,

Sherry Hernandez

P.S. I have included a copy of our ordeal titled “We Are Not Deadbeats”, again, so that you can have a small idea of the difficulties we homebuyers have had to face.9

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We Are Not Deadbeats 3

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