~ K-1, Because The ("COOP"), Washington Mutual Related ABS-Cert "Trust" Distributions, Each Month, Is Verifiable Information That The Segregated TRUSTS' Exist and Are Functional ~
... I Track These Trusts, for myself' and for my own financial information, ... However, I state / post, their monthly distributions in an effort to help others' understand just exactly what WMI, now reorganized into "WMIH-Corp", trading as symbol "COOP" Owned, and what a purchaser of WMI's products offered owned' ... either debt issued or a common share' of the original parent corp., consisted of ...
I chose one this morning of over 150 ABS-Cert Trusts that I Track monthly' to show you the process, as the Trusts have been diminishing on a monthly basis' ... I'll try to keep this as simple as possible'
1st; here is the revealed information for the Trust I Chose randomly
Issue Date: 01/29/2003
Record Date: 02/28/2020
Distribution Date: 03/25/2020
2nd; This Trust Originally Package 5 groups of 30 year fixed rate mortgages
Group 1 30YR JB A, NON-ALTA 2016
Group 2 30YR JB A, NON-ALTA 2017
Group 3 30YR JB A, NON-ALTA 2018
Group 4 30YR JB A, NON-ALTA 2019
Group 5 30YR JB A, NON-ALT
3rd; Now Here is the result of the Trusts activity having been being diminished over the years, by paids off loans, refinanced loans, forclosures, etc. ...
LOAN COUNT
Original Loan Count 2,201
Beginning Loan Count 20
Loans Added 0
Loans Paid-in-full 0
Loans Prepaid-in-full 0
Loans Liquidated-in-full 0
Loans Repurchased 0
Ending Loan Count 20
PRINCIPAL BALANCE
Original Scheduled Principal Balance $999,488,420.01
Beginning Scheduled Principal Balance $5,285,784.66
Scheduled Principal Received or Advanced $18,307.73
Unscheduled Principal $2,557.35
Prepayments-in-full $0.00
Liquidations-in-full $0.00
Repurchases $0.00
Principal Losses $0.00
Forborne Principal Recognized as Loss $0.00
Ending Scheduled Principal Balance $5,264,919.58
INTEREST
Accrued Interest at Gross Rate $22,164.05
Unscheduled Interest $0.00
Uncollected Interest $0.00
Uncompensated Interest Shortfall $13.15
Other Interest Shortfall $0.00
FEES
Servicing Fees $1,181.10
Other Fees $0.00
ADDITIONAL FUNDS / (EXPENSES)
Excess Liquidation Proceeds $0.00
Subsequent Recoveries $0.00
Prepayment Penalties $0.00
Interest Portion of Realized Loss $0.00
Advances Recovered $0.00
Trustee Legal Expense $0.00
Other Fees / (Expenses) $206.98
So, you can see why I do not believe all of the sloppy and poorly researched pie in the sky numbers, and / or material that simply is not accurate' ... the longer this process has gone on, the lower the amounts of loans remain within the functioning ABS-Cert WaMu Related Trusts'
~ Know What You Own ~
AZ
