Replies to post #552561 on Mr Cooper Group Inc fka COOP

[BBANBOB]

DMDMD

""" Everyone can debate and dispute my admittedly outrageous/astronomical recovery estimates, but it’s becoming more evident that JPMC needs to pay for all the Wamu Loans that they claimed they owned and subsequently sold to entities such as LSF9."""


All about PROPER CHAIN of title and or conversion of assets!!!!!!!!

Can't sell what aint yours.

I said to all here in 2008, if ya have a WAMU loan and JPM starts telling ya to send payments to them stop paying it!!!!!!!!!!!! Get a good attorney and you'll end up with your house for free!!!!!!

Now some here called that idea ""HOME OWNERS trying to get out of their debt like worthless freeloaders!!!!!!


Let's do it a different way someone illegally getting my payments when they aren't even due my payments and are fraudulently claiming they hold the mortgage.........


I call it smart business

What do any think that A&M have been doing for all these years?????? Recreating a chain of title on all the properties JPMC sold and or claimed were theirs , when in fact they were never transferred!

[gg4]

Dmdmd2020.
I have to admit for many years I was in the camp of much lower numbers coming back to marker holders. I do think there will be returns and I'm starting to think they are larger than I believe. Thank you for all your due diligence. gg4

[Civil War General]

$264-$231=$33 Billion in cash that belonged to WMI in their account at WMBfsb Henderson, Nevada, that merged with WAMU Seattle.
JPMC knew about that, knew WAMU was a solvent bank and had the liquidity held by the parent corporation in their subsidiary bank.
The transfer papers were drawn up.
The CEO was on the airplane coming back to finalize the transfer, and the FDIC gave JPMC the go ahead and seized all the paperwork.

[SAPer]

Dmd
I am glad there are people out there reading and analyzing everything, BUT (you knew that was coming ;-) ) If JPMC had any idea they were going to be on the hook for 231 billion don't you think the board would have run Jamie out of town on the proverbial rail?

[Dmdmd2020]

Per JPMC 2009 annual report:

https://www.jpmorganchase.com/corporate/investor-relations/document/2009_AR.pdf

PDF page 29 of 260:

“our fortress balance sheet enabled us to buy Bear Stearns in March 2008, adding $289 billion in assets; then we acquired washington Mutual just six months later, adding a further $264 billion of assets.”

____________________

Per JPMC SEC press release as of September 25, 2008:

https://www.sec.gov/Archives/edgar/data/19617/000119312508201636/dfwp.htm

Page 1-2:

“New York, Sept. 25, 2008 – JPMorgan Chase & Co. (NYSE: JPM) tonight announced it has acquired all deposits, assets and certain liabilities of Washington Mutual’s banking operations from the Federal Deposit Insurance Corporation (FDIC), effective immediately. Excluded from the transaction are the senior unsecured debt, subordinated
debt, and preferred stock of Washington Mutual’s banks. JPMorgan Chase will not be acquiring any assets or liabilities of the banks’ parent holding company (WM) or the holding company’s non-bank subsidiaries. As part of this transaction, JPMorgan Chase will make a payment of approximately $1.9 billion to the FDIC.“

Page 5:

“
As of 6/30/08
($ billions)

JPMorgan Chase Washington Mutual Combined
Select Business Metrics


Footprint (states)

17 15 23 states
Total Assets

$ 1776 $ 310 $ 2,036
Total Managed Loans

$ 617 $ 231 $ 848
Branches1

3,203 2,207 5,410
Total Deposits

$ 722.9 $ 181.9 $ 904.8
Checking Accounts

11.3mm 12.7mm 24.0mm
ATMs

9,310 4,962 14,272
Managed Credit Card Loans

$ 154.7 $ 26.4 $ 181.1
Credit Cards Issued

157.6mm 12.7mm 170.3mm
Employees

195,594 43,198 238,792
Network Comparisons


U.S. Households

25.0 % 30.3 % 42.3 %
Average Income

$ 71,595 $ 74,747 $ 72,332
Businesses

26.5 % 33.0 % 45.6 %
US Population in Footprint

75.0mm 94.1mm 129.9mm
5yr US Population Growth Rate (‘07-’12)

3.3 % 5.6 % 4.9 %
% of Population Growth in Footprint

18.0 % 37.9 % 46.2 %”

____________________

IMO...my conclusions as of January 02, 2019:

1) Per JPMC SEC press release as of September 25, 2008, the total assets acquired by JPMC was $260 billion.

Per JPMC 2009 Annual Report, JPMC acquired $264 billion in Washington Mutual assets, so those number relatively agree.

2) Per the JPMC SEC press release as of September 25, 2008, the total Washington Mutual “Total Managed Loans” is $231 billion. As you can see that $231 billion is roughly 1/3 of the size of JPMC with respect to “Total Managed Loans”.

Thus, if JPMC truthfully did acquire $264 billion Washington Mutual assets, then the $231 billion “Total Managed Loans” are the same as the “Portfolio Loans” within the bankruptcy. Therefore, JPMC still needs to compensate WMI for the acquisition of the $231 billion in “Total Managed Loans”/“Portfolio Loans” upon “Change In Control “.

The “Change In Control” will happen once the BK cases are closed, and also when the FDIC resolves the receivership.

4) Bill Paatalo and Neil Garfield have shown in many court cases (some that they were personally involved in) that proves that JPMC did not own the Washington Mutual Portfolio Loans or any Securitized MBS Trust loans (MBS Trusts that WMI subsidiaries created). The only thing JPMC owned was the servicing rights to the Washington Mutual mortgages.

5) If JPMC wants to legally own the Washington Mutual “Managed Loans”/“Portfolio Loans”, then they need to compensate WMI/WMILT/WMI Escrow Marker Holders for book value which is approximately $231 billion upon “Change In Control “.