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Wednesday, March 22, 2017 7:41:23 AM
...and not WMI.
...it has never been asserted by any PARTY IN INTEREST, or their CREDENTIALED PROFESSIONALS, in any DOCUMENT, in ANY JURISDICTION (i.e., anywhere) that ~
~ ~ ~ / / { JPM PURCHASED WMI } / / ~ ~ ~
"Importantly, we did not acquire the assets or liabilities
of the bank’s holding company or assume the $14
billion of senior unsecured debt and subordinated
debt of Washington Mutual’s banks."
...that would be correct; as has been known since September of 2008 (that would be 8+ YEARS AGO).
...very public information, nothing REDACTED, SECRET OR HIDDEN.
"However, there is one area that has
shown an improving trend: third-party mortgage
servicing. This business relies on scale and efficiency
and, including the addition of the WaMu portfolio,
it grew 91% to $1.17 trillion of loans."
...that would be correct, as per their 2008 INVESTOR LETTER, since JPM BOUGHT the "Servicing Rights" that WMB held as disclosed per the P&AA, JPM's AUDITED financials SINCE 2008, and SEC filings for the same periods, and were 'subject to the litigation between the TRUSTS that OWNED the MBS (under the Deutsche Bank Trustee) and the FDIC-R and JPM (now pending a Settlement Agreement approval by the CA Court) ~ note, in addition to BUYING the Servicing Rights, JPM also BOUGHT THE PORTFOLIO LOANS of WMB.
...again, it is important to revisit and understand the entities.
...WAMU is a name, not an entity; generally used to refer to one or more of the following actually existing legal entities.
...WMI was the Holding Company that filed bankruptcy, as did it's wholly-owned subsidiary WMIIC (i.e., the 'debtors).
...WMB was the wholly-owned BANKING SUBSIDIARY of WMI ~ Please Note: WMB "did not file for bankruptcy," rather, it was seized by OTS and place into receivership of the FDIC and sold to JPMC as per the disclosures of all parties.
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