Finding the FINTECH Companies who really do the work of "servicing" payments and disbursements.

The Core Problem: Servicers Who Don’t Service

Here’s the truth that banks and their lawyers won’t answer: there is no real loan account receivable.

That’s why they avoid tough questions like this Qualified Written Request (QWR), which cuts to the heart of the issue: Who is actually handling the money?

A homeowner recently demanded answers about PennyMac’s supposed role as “servicer”—and uncovered a web of third parties doing all the work while PennyMac collects royalties for its name on the letterhead.

The QWR: Who Really Hired Exela?

The QWR begins with a simple demand:

Identify who hired Exela Technologies, Inc. (and its subsidiaries Transcentra, Inc. and Regulus Group LLC) to collect and process my mortgage payments.

Payments are being routed to:

• P.O. Box 660929 – Dallas, TX (collected by Transcentra, Inc.)

• P.O. Box 30597 – Los Angeles, CA (collected by Regulus LLC)

Yet none of these parties are PennyMac—the supposed servicer of the loan.

The Problems Exposed

1. Payments

• Checks are not sent to PennyMac.

• All funds are processed by Exela subsidiaries.

• Payments are deposited into accounts benefiting undisclosed parties through Bank of America.

2. Correspondence

• Letters and notices do not originate from PennyMac.

• Homeowners receive fintech-generated, unsigned, or robo-signed letters from multiple states and cities.

3. Escrow

• Property taxes are paid by CoreLogic (authority undisclosed).

• Insurance premiums are paid by unnamed “Third Party Payment Services.”

• Refunds are mailed by JPMorgan—not PennyMac.

4. Billing Statements

• Statements are processed and mailed by Freedom Services, LLC (a JPMorgan conduit), not PennyMac.

5. Assignments of Mortgage

• A 2020 assignment prepared by Black Knight (formerly LPS/DocX) was robo-signed and notarized by Nationwide Title Clearing—not PennyMac.

• Assignments were returned to intermediaries, not the alleged servicer.

👉 Conclusion: Every servicing function is performed by others. PennyMac does nothing but lend its name.

The QWR Demands

Under RESPA, the homeowner demanded:

• Full name of the corporation that hired Exela

• Capacity in which that corporation acted

• A copy of the retainer agreement between Exela and the company authorized to accept payments

• Names, positions, and contact info of both Exela and company employees involved

• Proof of authority given to Exela to collect and process payments

• Names of Exela employees who actually collect payments from the Dallas and Los Angeles P.O. Boxes

• Identity of the true beneficiary and recipient of payments

Why It Matters

This QWR highlights a structural fraud:

• Servicers don’t service.

• Payments vanish into a web of fintech processors, third-party vendors, and opaque bank accounts.

• Homeowners are left with no transparency, no accountability, and no confirmation of who owns the debt.

And that’s the point: answering truthfully would reveal there is no loan account, no creditor, and no legal foundation for foreclosure.

Takeaway

Banks count on homeowners never asking these questions. This QWR example shows exactly what to demand under RESPA—and why the answers will never come.

By pressing on the outsourcing and exposing the hidden conduits like Exela, Transcentra, Regulus, CoreLogic, and JPMorgan, homeowners reveal the hollow core of the mortgage servicing model.

Silence from the banks is the proof.

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Tags: exela, QWR, Regulus group, Transcentra
Posted in Corruption, discovery, Servicer |