Home Partners of America, a single-family home rental company backed by KKR & Co. and BlackRock Inc., has explored an initial public offering with banks including Goldman Sachs Group Inc. and Morgan Stanley.  (https://www.bloomberg.com

Pimco and BlackRock have been accused of accelerating foreclosure actions against struggling American subprime borrowers in the aftermath of the financial crisis. OCWEN Financial notable holdings include: BlackRock Inc,Goldman Sachs, PHH and PHH Mortgages whom they 've just acquired. ( https://www.ft.com

Ocwen, a publicly traded Florida corporation headquartered in Atlanta, Ga., is the largest nonbank mortgage servicer and the fourth-largest servicer overall in the United States. As a mortgage servicer, it is responsible for collecting payments from the mortgage borrower and forwarding those payments to the owner of the loan. It handles customer service, collections, loan modifications, and foreclosures.  (https://www.consumerfinance.gov

Ocwen specializes in servicing subprime or delinquent loans and places a major emphasis on resolving delinquency through loss mitigation or foreclosure 

In 2013, the company reached a $2.1bn settlement with the Consumer Financial Protection Bureau (CFPB) over a long string of administrative errors and deceptive practices that allegedly pushed borrowers into foreclosure (https://www.consumerfinance.gov/

Chicago-based Home Partners of America has purchased over $2 billion in properties and leased them to more than 12,500 people who have the opportunity to buy the homes through a right-to-purchase program, according to its website. It was formerly known as Hyperion Homes Inc. and backed by Lewis Ranieri, the former Salomon Brothers banker who was a pioneer of mortgage securitization.  (https://www.bloomberg.com

PHH has a strategic relationship agreement with Realogy who in turn owns and operates Coldwell Banker, Sotheby’s International Realty, ZipRealty, Century 21, the Corcoran Group and Citi Habitats. in which PHH was bound to refer all title insurance and settlement services to Title Resource Group. ((https://magazine.realtor/daily-news/2018/09/06/phh-realogy-to-pay-17m-over-alleged-kickbacks

Many people are hard working Americans' when viewed through the grand scheme of life. However, when marginalized by corporate greed coupled with false ideations, having claims of alternative pathways to home ownership fail. Subsequently, many middle class person(s) have been duped out of thousands of dollars, hoping to achieve the dream of home ownership. 

Likewise, I attest Home Partners of America's program seems very well meaning until you begin to understand the political and financial elements. Albeit, excitement ensues as potential buyers once locked out of the purchase process has entered into a dangerous financial relationship with Morgan Stanley, Goldman Sachs, Blackrock Funds and PHH venture capitalist. 

And yet, on the surface things appear to be wonderful as potential buyers search for homes with their respective brokers. Consequently, there may be evidence to support that Coldwell Banker realtors' may be participating in a nefarious scheme. That said, there may be realtors/brokers who are unaware of the dangers that are lurking ahead.  

As middle class workers are shuffled through the process; they're forced to send funds within 48 hours to Stewart Title Company for (escrow), yea, seems legit. However, once Home Partners of America makes settlement; your purchase contract becomes a bonafide rental agreement.

Consequently, your dream is deferred to a rental  lease which replaces your amortization schedule for a rental escalation over a five year period. Undoubtedly confused, many don't understand nor realize that because the home was purchased on their behalf, as all cash; many of these homes were never inspected prior to gaining entrance to the property. Moreover, when requested they're denied access to the actual sell of the property including inspections. Many times tenants are often forced to use third party vendors for utilities and charged unknown fees without receiving a copy of the bill. If requested, the response often given, "You're not the home owner".  

Grasping with the financial blunder in which they find themselves; Tenants are  forced to deal with Home Partners of America's property management company. Path light Property Management has to be one of the most unprofessional unconscionable institutions I've ever encountered. 

Tenants are strapped with unknown fees and costs monthly. Often times, Path Light has no evidence and/or proof of these claims of utility fees. Knowing this, "Pathlight Property Management" will exercise its right as the subsidiary of Home Partners of America, thereby executing eviction proceedings on tenants who refuse to pay these unknown costs and fees. Many times, the rights of tenants are stripped away by Magistrate/District courts through poor acknowledgement of the tenants  "ownership rights".   

While many tenants do not have the financial means or representation to assist themselves through the eviction process often times these once potential home owners find themselves homeless. That said, now homeless these previous Home Partners of America tenants unknowingly signed to forego there escrow monies previously placed in Stewart Title Company. 

 That's it, the home owner(s) dream has been deferred never to recover. When  tenants request previously deposited escrow funds. Consequently, I've failed to mention, many tenants have placed 3,000-20,000 dollars in these account(s).Furthermore, Home Partners of America explains to the now dejected homeowner(s) that they've "Breach their contract" as such, forfeited escrow monies.

Let's be clear, many hard working people have applied seeking an opportunity. Instead what we've experienced has been less than kind. Mired with litigation, ex-tenuous costs, harassment and shame. Overtly speaking, I'd expected fidelity and integrity from corporations. However, delineated throughout this correspondence details experiences of Americans from all walks of life.  

Justice For Home Partners Of America Victims respectfully seeks legislation to terminate the extortion and subjugation of middle class person(s). Our involved mission includes a comprehensive approach to offering home ownership to all persons of economic genre.

Furthermore, due to the irrevocable insolvent gratuitous harm caused to Home Partners of America tenants through self identified entitlements; we now seek relief. We pray these truths before the United States Oversight Committee that these matters be considered emergent.  

Justice For Home Partners Of America Victims