• Petitioned Department of Corporations and the CFPA

This petition was delivered to:

Department of Corporations and the CFPA

Investigate PennyMac fraud

    1. Sherry Hernandez
    2. Petition by

      Sherry Hernandez

      Palos Verdes, CA

Countrywide is profitting from the same toxic loans they created by forming a new company called PennyMac, headed up by the same executives that helped create our economic downfall...when they ran Countrywide.

They buy back your loans for pennies on the dollar, then they collect the maximum they can from the homeowner, rarely modifying.  They are unregulated so they buy loans from banks that are regulated so they can hide their assests in the private sector.

If this is not stopped, it will be the next great economic disaster in a few years and we will all be asking why we didn't see it coming.

Recent signatures

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    1. Reached 10 signatures

    Supporters

    Reasons for signing

    • Cailin Callahan JENNINGS, FL
      • over 2 years ago

      Burn the bankers. Turn about is far less than what they deserve. Their fraud has destroyed the economy and contributed to countless marriage failures and early deaths. If I had my way, they'd all be in jail.

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    • Jill Bettencourt OTIS, OR
      • over 2 years ago

      I am signing as PennyMac is trying to Wrogfully foreclose on us. We had an Ameriquest refi, when they got shut down CitiM said they had our servicing rights. Next, CitiM/ CitiF gave us a Govt HAMP Mod Trial Loan and we were 2 months ahead on our payments. We had paid 14 payments to CitiF. Then we get a call from someone named PennyMac who demanded we pay them $12,000 or else they would foreclose on us and they would not recognize our CitiF HAMP MOD Loan and kept repeating they were going to forclose..This is where CitiF's "Dual Tracking" comes in. PennyMac also gave us a second mortgage which we have never had on any loan and has ruined our wonderful credit we worked 40 years for . I am disabled from birth and we are both Seniors, living in a manufactured home who were trying to retire in peace.

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    • Cinnamon Johnston LOS ALAMITOS, CA
      • over 2 years ago

      Investigate bank fraud...please!

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