Mr Cooper Group Inc (COOP)

[cura asada]

Quote:

JPMORGAN CHASE IS THE “SERVICER” FOR WHO OR WHAT? WHO IS CHASE THE COLLECTION AGENT FOR? THE ANSWER IS MORE OBVIOUS THAN YOU THINK.

Posted on September 20, 2012


The WaMu mortgage loans were “off balance sheet” at the time of WaMu’s failure, and thus JPM could not have purchased something which was not on WaMu’s balance sheet. Nardi has testified that there is no schedule of particular mortgage loans which were purchased from the FDIC as Receiver for WaMu. Yet, after the alleged “acquisition” of whatever was sold to JPM by the FDIC, JPM directed the homeowners with WaMu originated loans to make payments to JPM. Although JPM admitted that it was only acting in the capacity of a “servicer”, JPM has never advised who they are the “servicer” for other than to amorphously state that they are the servicer for an “investor”.

Who is this investor? Is it JPM? If so, what did JPM invest? Surely it could not be the mere pittance that it paid the FDIC for whatever it purchased, and it cannot be for the mortgage loans which it did not buy. To date, the true owner(s) of the off-balance sheet WaMu mortgage loans remains unknown.

Thus, the conclusion is inescapable: the monies which homeowners have been paying to Chase Home Finance and JPM over the years through payments to CHF and JPM as a “servicer” have been are are being pocketed by JPM, even through JPM does not own the WaMu mortgage loans and cannot identify any person or entity who or which owns the loans for which JPM is allegedly collecting payments as the “servicer”.

Now one asks: how could JPM “purchase” mortgage loans in 2008 which, statistically, had an 83% chance of being fraudulent as of 2005 (assuming the loans were even in WaMu’s portfolio as of September 25, 2008)? How could JPM purchase, in 2008, any mortgage loans which had been securitized and thus transferred to third parties from 2003 to 2006?

Unquote.

forclosuredefensenationwide