~ AZ's Reverse Engineering, The Numbers # 2 ~
... This is very detailed and quite tedious work, ...
... per the Courts Order; WMI's Class Specific Trustee' payments are to be made, ... "Until The Cases Are Closed" ...
... This ? ... in and of itself ?, should have ended the “75/25 to the end” silliness once and for all’ ..: but ?, it didn’t ... This ?, in and of itself ?, should have ended any illusions regarding the WMI-LT’s financial control beyond its SEC Filed QSR’s by way of its issuing any additional LTI’s once and for all ... but ?, it didn’t ...
... the Trusts “Trustees” Are individualized and are Class Specific ... WMI was never the “Master Servicer”, and so neither could ever be ? the WMI-LT or the WMI-LT’s Trustee, W Kostorus ...
Again,
Once I was able to gather up a Copy of the Original Court Order, allowing for the Trustee payments, ... again, I can not emphasize this enough, ... "Until The Cases Were Closed" ... Step one was to get an average Trustee fee', the following is what I am using, ... 0.479% ... or, ... 0.565%. ... or basically 1/2 of a percent' ...
I randomly chose a WMI aligned Performing ABS-Cert, an SEC # 6189
"In particular, each month or year, as applicable, the master servicer will be obligated to pay from the master servicing fee the fees of the trustee and certain other fees and expenses of the Trust, as prescribed by the pooling agreement.
The servicing fee will be calculated as a per annum percentage for each mortgage loan. The servicing fee with respect to each group I loan will range from 0.250% to 0.950%, with a weighted average of approximately 0.479%. The servicing fee with respect to each group II loan will range from 0.250% to 0.950%, with a weighted average of approximately 0.565%. Any prepayment penalty on a mortgage loan will be paid as additional servicing compensation to the related servicer."
Also, ... The Court Order is class specific and is specific to WMI' and its BK proceeding, ... and IN MY OPINION, ... is not a refernce to ALL of the ... Trusts' ... I have personally found well over 300 pooling and servicing agreements, ... but that's another conversation' ...
Everyone appears to be distracted by the “griffin tantrum”, ... and in my opinion, continuing, while there are so many of those that continue to believe that somehow “griffin” is going to disrupt the Plan 7’ Distribution Matrix, and that the issuing of additional WMI-LT “LTI’s” ... and the 75/25 to the end ... nonsense is reality ?, ... then I’m able to wait and see for the next forward move ...
AZ
AI
