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Re: jerrylev post# 537252

Tuesday, 09/11/2018 2:09:16 AM

Tuesday, September 11, 2018 2:09:16 AM

Post# of 729796
Quote: "According to HM then WMB was sold entirely to JPM and so 26% of zero is zero. The only beneficial interest is from the 40B of mortgage assets that were retained by FDIC."



Jerry, you just don't seem to grasp the process of securitization. If WMB sells 100's of loans to individual customers and those loans remain on it's books, then those loans are not protected by SH.

If however WMB "transfers" those same loans along with 1000's of others to SPE's which then securitizes them and places them into Trusts, that loan in now off WMB's books and could not have been seized or sold to JPM.

Securitized loans placed into Trusts are no longer WMB's property, but may be a beneficiary of some percentage of the cash generated by the PI/BI's retained by it's SPE subs, along with WMI as the parent co.


Until there is an accounting of any such PI/BI's or of what exactly the FDIC may be"holding", it's nothing but a guessing game. Again, securitized Trust assets and PI/BI's are protected by SH!!!

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