Mr Cooper Group Inc (COOP)

[bkshadow]

Only the facts....

It is being asserted that JPM's 2008 SEC and Audited financial statements disclosing the Washington Mutual transaction, are ERRONEOUS BY $244 BILLION DOLLARS. Such disclosures are UNCHANGED in 2009, 2010, 2011, 2012, 2013 and 2014 Annual 10K and a 10Q and Annually Audited Financial Statements. I find this, well, totally unreliable. Considering that such would mean that all of the shareholder's equity of JPM would be WIPED OUT by this theory, and considering the investment quality of JPM stockholders, I find it unlikely that "they are all wrong."

NOW TO ACTUAL REALITY


JPM Loans - Below

The increase you come up with is INCLUDING WHOLESALE LOANS. As we all know those are NOT considered PORTFOLIO LOANS!

There are two perspectives on Wholesale Loans (first, the "Wholesale Channel" than brings such to a Mortgage Lender i.e., the IN BOX, and second, the "decision" to retain the loan/mortgages in "Portfolio" or to "hold for securitization, after origination at the Mortgage Lender, with services rights identified, and sold on the secondary market (MBS) i.e., the OUT BOX.

The decision to portfolio is based on the bank liabilities and bank regulated matrix. Such a bank in this case is a portfolio lender, also can be called a direct lender if the bank did not use a wholesale channel source. Those loans that the Mortgage Lender (a) cannot by regulation or (b) chooses not by scoring the mortgage, KEEP IN PORTFOLIO, are classified as wholesale intended but they are not expedited overnight. It usually takes 2-3 months even for a process wholesaler with no intention or ability to portfolio; requires steps to securitize (MBS) and sell.

So, whether or not a wholesale channel put the mortgage in the IN BOX, if the mortgage hasn't been packaged and sold yet and is in the OUT BOX, it could be classified in SEC filings as a wholesale mortgage. In either case, at that time, they are owned by the bank.

Does JPM Chase Identify that is uses a Wholesale Mortgage Channel?



What were WMB’s 2007 Loans



What did JPM disclose it bought in WMB loans in 2008?



What were JPM’s total loans 2008-2007?



Yep, the WMB $244B at 2007, less $31B in write-downs, is what JPM bought and recorded.

Also, the CLAIM that it was BEAR STEARNS?