First let me apologize for bringing this up, but I felt it should be discussed here because it is relevant, and might be of some importance (or interest) to some, or all the people here.
As we know, Mr. Cooper is basically Washington Mutual reorganized. And recently it was brought to my attention that evidence was found proving what most people suspected, thought or felt (in regards to the sale of assets).
"Bill Paatalo, in a recent Blog Post (May 14), laid out the position that the FDIC's own promulgated Rules and Regulations demonstrate that the WAMU to Chase purported transfers of securitized trust mortgage loans never legally properly happened due to the criteria laid out in same Rules and Regulations. WAMU's loans were 'legally isolated' from the FDIC Receivership of WAMU when WAMU went into bankruptcy in 2008 to facilitate transferring loans to Chase."
If no one finds it of any importance then my apologies. Personally I find it pretty important, and I'm genuinely curious to find out what it might mean, and how it could affect other things. I myself spent a lot of time investigating those matters, and I found crazy things that almost everyone missed. I wrote a short pdf about it, using the regulators own evidence against them, which I haven't shared much with anyone.
If anyone here would be interested in reading it just ask and I'd be happy to share it. Only because it might help put more things into perspective. Once all the pieces are laid out, it can also give a better understanding of who, when, why and how Mr. Cooper came about.
I'm not making any accusations or assumptions, because all I know is that they were Washington Mutual. But after what I witnessed, and all the good people here that I saw effected by what happened, it broke my heart. So I'm just thinking it's better to know and understand with whom you deal. A lot of investors got screwed, and I believe a good investor is an informed investor.
Again, my apologies if this is isn't relevant to anyone. Just trying to look out for people, since I know we can't trust those with the obligations to look out for us.
When I think of how many regulatory agencies actually dropped the ball, all at the same time, I can't help wonder why they exist at all. They are the only thing standing in the way of financial disasters, and they could have easily prevented the last one. But they all failed. All useless as far as I'm concerned. And if they're not looking out for us, then I guess we have to look out for each other.
And what happened last time wasn't an accident. It was pure theft. Plain and simple.
