Mr Cooper Group Inc (COOP)

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Dmdmd1...Thank You For Sharing-Fabulous Information-BIG MONEY Awaits

Per Neil Garfield Show as of May 07, 2020:

https://www.blogtalkradio.com/neilgarfield/2020/05/07/paatalo-breakthrough-reverse-engineers-chase-wamu-scam-latest-re-covid-19

Excerpts:

(Starting 09:45)-- WMB in 2006 originated loans of about $42.5 billion in Option ARM loans which were securitized in Trusts. Chase claimed ownership via FDIC receivership of WMB. Bill Paatalo claims that he can definitively prove it to be false. (10:20)

(10:26)-- Of the $42.6 billion of Option ARMs, $37 billion were securitized into Trusts that went through FDIC.

(10:45)-- $5.7 billion of Option ARMs were not part of the FDIC receivership, but rather it was through WMI bankruptcy estate (Preferred Trust Securities).

(11:03)-- Thus $5.7 billion of Option ARMs escaped FDIC receivership and became subject of repurchased demands and disputes by investors against JPM Chase.

(12:09)-- Every one of the securitized loans whether it's the 2006 Option ARMs or any private trusts loans that were set up by WMI subsidiaries admitted that they were never going to endorse the notes or execute the assignments and they warned the investors that they were not going to document any chain of title to any of the loans.

(14:08)-- If you can't locate the loan then it's probably in one of the Preferred Trust Securities.

(15:57)-- More nefarious...after a foreclosure sale the debt seems to survive and be re-securities and sold after the alleged debt was supposedly extinguished through the foreclosure sale. It is a scheme of massive proportions.

(17:00)-- To prove that they [Chase] never owned the loans, the proof lies within tax filing documents, specifically form 1099-S. [A form 1099-S is a tax document used to ensure that the full amount received for a real estate sale of some kind is accurately reported. When real estate is sold, the seller is often subject to a capital gains tax. A 1099-S can also be used to report income made on rental property or investment property. For selling real estate, the buyer must complete and file their own 1099-S. Buyers can ask for a 1099-S to be completed and included as part of their closing documents.
https://formswift.com/1099-s]

Listen to the whole podcast, it's only 30 minutes long, and in (21:43), Bill Paatalo states that he has some good stuff that he'll share in the future.
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IMO...my conclusions as of May 09, 2020 @ 1951 CST:

1) All securitized loans that were created by WMI subsidiaries clearly states that they were not going to document any chains of titles of the securitized loans into MBS Trusts. Thus purposely creating defective chains of title. The last verifiable owner to all the securitized loans are the WMI subsidiaries that created all the MBS Trusts. Therefore, WMI and ultimately WMI Escrow Marker Holders are the owners to all the securitized loans.

2) The FDIC did not have the authority to transfer any of the securitized loans to JPMC or any other entity.

3) IRS tax form 1099-S should be the proof that shows the entities that owned the securitized loans.
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https://bpinvestigativeagency.com/if-wamu-admits-to-destroying-the-chain-of-title-how-can-chase-retroactively-correct/

“If WaMu Admits To Destroying The Chain Of Title, How Can Chase Retroactively Correct?

Posted by BPIA on Apr 21, 2014 in Uncategorized | 1 comment

A common fact pattern I see when investigating loans that were alleged to have been securitized by Washington Mutual Bank, is that the WaMu entities admit to the investors that the chain of title was deliberately going to be destroyed, and that the perfection of the trust’s interests in the Notes and Mortgages/Deeds of Trust was not going to occur. Take the following language from the “Washington Mutual Mortgage Pass-Through Certificate Series 2006-AR5 Trust” Prospectus which can be found on the SEC’s website at: www.secinfo.com/dsvRa.v2an.htm#1stPage.

[The Bankruptcy or Insolvency of WMMSC Could Result In Delayed or Reduced Distributions on the Certificates]

For transactions in which WMMSC is a mortgage loan seller, investors should consider the following:
WMMSC sells mortgage loans to the depositor. WMMSC will represent and warrant in the mortgage loan sale agreement that the transfer of the mortgage loans to the depositor is an absolute sale, so that the depositor is the sole owner of each mortgage loan.

[Some Interests Could Have Priority Over the Trust’s Interest In the Mortgage Loans, Which Could Cause Delayed or Reduced Distributions on the Certificates]

For transactions in which WMB fsb holds some or all of the mortgage notes and mortgages as custodian on behalf of the trust, investors should consider the following:
The trustee will not physically possess some or all of the mortgage notes and mortgages related to the mortgage loans owned by the Trust. Instead, WMB fsb will hold some or all of the mortgage notes and mortgages as custodian on behalf of the trust. The mortgage notes and mortgages held by WMB fsb will not be endorsed or otherwise marked to reflect the transfer to the trust, and assignments of the mortgages to the trust will not be prepared or recorded. As a result, if a third party were to obtain physical possession of those mortgage notes or mortgages without actual knowledge of the prior transfer to the trust, the trust’s interest in those mortgage notes and mortgages could be defeated, thereby likely resulting in delays or reductions in distributions on the certificates.
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[Assignments of Mortgages to the Trustee or the Trust Will Not Be Prepared or Recorded]

For transactions in which WMB fsb holds some or all of the mortgage notes and mortgages as custodian on behalf of the trust, investors should consider the following:
With respect to each mortgage held by WMB fsb as custodian on behalf of the trust, an assignment of the mortgage transferring the beneficial interest under the mortgage to the trustee or the trust will not be prepared or recorded. In addition, an assignment of the mortgage will not be prepared or recorded in connection with the sale of the mortgage loan from the mortgage loan seller to the depositor. In many states, the recording of a separate assignment of the mortgage is not required to validly transfer ownership of the mortgage loan. However, at any time until an assignment of the mortgage with respect to a mortgage loan is recorded in the name of the trustee or the trust in the appropriate jurisdiction, (a) the mortgage loan seller, as the existing mortgagee of record, could execute another assignment of mortgage to any party with respect to such mortgage, which assignment of mortgage could be recorded prior to any recording of an assignment of the mortgage to the trustee or the trust and which would support an adverse claim of such other party with respect to the mortgage loan and/or result in delay in enforcing the mortgage, (b) the mortgage loan seller, as the existing mortgagee of record, could execute and deliver to the mortgagor an instrument of discharge and satisfaction with respect to the mortgage, which would generally be effective upon recording to release the lien of such mortgage loan, (c) the trustee or the trust may not have a claim against the mortgagor for payments made to the mortgage loan seller, as the existing mortgagee of record, but instead may be required to proceed against the mortgage loan seller to recover the amount of any such payment made, (d) the trustee or the trust may not be able, acting directly in its own name, to enforce the mortgage against the related mortgaged property or mortgagor and may be required to act indirectly through the mortgage loan seller, as the existing mortgagee of record, and (e) the mortgage loan seller, and not the trustee or the trust, would be entitled to receive any notice with respect to any mortgage required to be given to the mortgagee of record. The occurrence of any of these could result in delays or reductions in distributions on the certificates.
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In almost all Washington Mutual securitized trusts, the custodian and servicer was initially WMB, fsb. Now combine this information with the WMMSC Servicer Guide snippet as follows:

The documents were allowed to be stored in electronic format, provided however (Section 2), that “The copies or electronic media are made by a process that accurately reproduces or forms a durable medium for reproducing the original.” DID YOU CATCH THAT? How does one “reproduce an original?”

Okay, so what does this mean? It means that the WaMu securitization entities admit they did not endorse or mark the notes or execute any assignments to document the sales transactions. Yet, JPMorgan Chase shows up in foreclosure proceedings, as servicer for the WaMu trusts, holding a note with a blank endorsement from a WaMu officer. How could this happen if, at the time the FDIC seized WaMu, none of the notes that WaMu was servicing on behalf of the trusts were endorsed? This goes right along with the storyline of the Wells Fargo’s “Attorney Foreclosure Procedures Manual” that has recently made the headlines.

Folks, the language in the public SEC filings above is a tacit admission that the chain of title was deliberately destroyed, and further evidence that the notes being presented as “originals” are very likely to be bogus counterfeits with forged endorsements.”

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IMO...conclusions as of September 18, 2019 @ 1857 EST:

1) Per Prospectus from a WMI subsidiary created MBS Trust, it explicitly explains that there will be no recorded transfers of mortgages thus intentionally making defective chains of title

2) IMO...The true ownership of securitized mortgages reverts back to the last verifiable owner in the chain of title (in the above prospectus the last verifiable owner is a WMI subsidiary)

3) If all prospectuses contained similar language (which I believe to be true) then all securitized loans are currently owned by WMI subsidiaries; thus, IMO...the true owner of all WMI subsidiaries are the WMI Escrow Marker Holders