boarddork, the facts are clear...
I referenced JPM's purchase of the $240B+- to their annual report and from the WMI pre-seizure filings. They are the portfolio loans. JPM even increased the loss reserve on them by $29B, if you should recall.
And, I agree with you that JPM didn't get any of these portfolio mortgages from WMI. That is because, as it has pointed out ad nauseum, that WMI didn't issue any mortgages at all (ever). Those were mortgages in the WMB portfolio. WMB's mortgages were sold via assignment to JPM; it is what it is. JPM records such and reports such in its SEC filings and Annual Report to shareholder. If you believe that there is a quarter of a billion dollar error in JPM's SEC filings and annual report to shareholders, you should immediately report your evidence to the SEC.
The reference you make is directly addressed to the legal status of the WMB mortgages sold to JPM via "assignment" legal terms versus successor in interest. This was as a result of foreclosures that were stalled due to the error of the FDIC and JPM in some states in using the incorrect language and legal theory that JPM was the successor to WMB; which it was not. It took title to the mortgages by assignment from the FDIC-R, not as a successor in interest.
Quite simple.
Support for this?
JPM has received payments on these mortgages since 2008. They have reported such in their annual reports and SEC filings in 2008, 2009, 2010, 2011, 2012, 2013 and 2014 (quarterlies) to NO OBJECTION BY THE SEC, DOJ, AUDITOR'S, ETC.
It is quite clear. JPM is not successor in interest (as per the foreclosure litigation), it is contractually the "assignee." The state courts have upheld such.
Again, if you think JPM's annual SEC filings are fraudulent by $244B, I suggest you contact the SEC with your proof. The SEC is quite responsive to such material transgressions.
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