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Tuesday, October 29, 2019 1:43:27 PM
I have posted this before, but I will gladly do it again;
Escrow Holders are NOT MBS Certificate Holders...
...directly or indirectly or derivative via WMI's interests.
...neither was WMI or WMIIC.
...neither was WMB and subsidiaries that securitized.
...MBS Certificate HOLDERS are the investors (institutionals and funds as noted per the Plaintiffs in the DB CA Probate clearance procedures).
Escrow Holders are NOT MBS Retained Interest beneficiaries or residual interest holders...
...WMB and subsidiaries that securitized HELD RETAINED INTERESTS in MBS issued prior to seizure; RECORDED AS ASSETS (not off book) such interests that were investment grade are classified as investments, the rest as trading assets (JPM recorded in the WMB transaction such on their SEC and AUDITED filings in and since 2008).
...further, SAFE HARBOR "applies to the ISSUING BANK OR BANK SUB; I.E., WMB AND/OR SUBS."
...WMI/WMIIC were not ISSUING BANKS in such; doesn't matter if their name is mentioned in the Trust documents as parent disclosure by ISSUANCE BANK subsidiaries does not make the parent the ISSUER and certainly not possessing the mortgage pools in the securitization.
...further, SAFE HARBOR "applies to securitizations IN PROCESS."
...Reading the 10K 12/31/2007 and the 6/30/2008 10Q, and excerpts from the Senate Permanent Subcommittee report, will inform that there were NO SECURITIZATION IN PROCESS AT SEIZURE (there are no 2008-XX MBS OUT THERE IN PROCESS AT SEIZURE).
...again, Escrow Holders, and the WMILT, and WMIH, HAVE NOTHING TO DO WITH THE VARIOUS MBS SECURITIES ISSUED BY WMI'S SUBSIDIARIES (WMB, AND ITS' SUBSIDIARIES).
Escrow Holders are NOT MBS Servicing Rights beneficiaries or residual interest holders...
...regarding SERVICING RIGHTS, related to such MBS and SEPARATE FROM RETAINED INTERESTS above, such are valued and identified as WMB "ASSETS" also, and JPM recorded such also.
...in tandem, JPM as successor to JPM in SERVICING SUCH (i.e., $165B of fame), they have disclosed the annual required filings for such.
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