WaMu and thus the LT may have a BI in MBS stocked Trusts
Such trusts pay interest and principal to OWNERS of share in such trusts as the money is paid to the ttee by the mortgage holders
Over time the interest and the principal reduce
Does the LT - if there is a BI in "some such trust" have any BI in the payments made to owners (they being one such owner unless their BI is only in some residual value) since the bankruptcy?
Such payments would be mostly interest at first (interest on loans often paid to owners as dividends). Then as people refinance or "Sell houses" chunks of principal come back to the trust. Thus there is a solid flow of money but a consistently reduced residual value - similar to owning a single MBS.
Would some trustee be holding our share for us ? Would the FDIC be getting our share to hold?
Is all that income - which is much of the original value - lost to us?
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