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Replies to post #516415 on Mr Cooper Group Inc (COOP)
04/12/18 1:47 PM
The said Instrument states:
Contact JPMORGAN CHASE BANK, N.A. for this instrument 780 Kansas Lane, Suite A, Monroe, LA 71203, telephone # (866) 756-8747, which is responsible for receiving payments.
FOR GOOD AND VALUABLE CONSIDERATION, the sufficiency of which is hereby acknowledged, the undersigned, FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER OF WASHINGTON MUTUAL BANK F/K/A WASHINGTON MUTUAL BANK,FA, WHOSE ADDRESS IS 700 Kansas Lane, MC 8000, MONROE, LA, 712-3, (ASSIGNOR), by these presents does convey, grant, sell, assign, transfer and set over the described Deed of Trust without recourse,representation or warranty together with all right, title and interest secured thereby, all liens, and any rights due or to become due thereon to U.S. BANK NATIONAL ASSOCIATION AS TRUSTEE AS SUCCESSOR BY MERGER TO LASALLE BANK, NATIONAL ASSOCIATION FOR WAMU MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-HY7 TRUST, WHOSE ADDRESS IS 700 KANSAS LANE,MC 8000, MONROE,LA 71203 (866)756-8747, ITS SUCCESSORS OR ASSIGNS, (ASSIGNEE).
This Assignment was executed on August 10, 2012 for Federal Deposit Insurance Corporation, As Receiver of Washington Mutual Bank F/K/A by JPMorgan Chase Bank, National Association, its Attorney-in-Fact Melissa J. Riley whose Power of Attorney was recorded February 24, 2011 as Doc # 20110317. It was notarized by Helen P. Tubbs on August 10, 2012 at Parish of Ouachita,State of Louisiana.
WHAT DOES THIS MEAN?
Now we have evidence of the FDIC's assigning WaMu loans to the Trusts for "valuable consideration" in violation of New York & Delaware trust laws and IRS REMIC provisions. This is quite unbelievable! So why this loan in particular? Without any schedules of assets ever being produced, how do they decide which ones will be assigned to the trusts from the FDIC, and which ones assigned from Chase? Either way it is illegal!
So now we know with certainty that at least some of the WaMu trust loans were retained on the books of WaMu, which violates the PSA's and the reps and warranties to the investors. There is no other way the FDIC can even attempt this assignment. So now what we have is the FDIC accepting "valuable consideration" for stolen merchandise and dumping the losses onto the REMIC investors.
Equally interesting is that the designated "Lender" on the Deed of Trust of May 2007 was cited as "Washington Mutual Bank, FA" a bank that ceased to exist in 2005 according to the 2005 10-K filed by Washington Mutual Inc. Other records indicate that in 2006 that Washington Mutual Bank had ceased doing business as Washington Mutual Bank, FA.
AI
