This is going to raise questions on how this has been able to proceed without the finalizing of the sale.
You cannot have an omelet if the chicken hasn’t laid the egg yet!
- Were the shareholders made aware that JPMC never finalized the deal?
- How does this effect those who filed for Bankruptcy?
- Why hasn’t the FDIC stepped up when they knew that this was on going and never finalized the sale?
- What happens to those who have an assignment of mortgage from WAMU to JPMC?
- Is JPMC currently servicing any of WAMU’ loans?
- All the chain in title that are in question?
- Bailout? What Bailout?
Thanks to Foreclosure Hamlet and 4closurefraud for this alert!
Via: 4ClosureFraud
This is very intriguing… Check out the the excerpts from the report below…
Game Changer?
WaMu sale hasn’t closed, document suggests
Next month will mark two years since federal regulators seized Washington Mutual and sold it to JPMorgan Chase for $1.9 billion. Now a document that appears to be from the Federal Deposit Insurance Corporation suggests the deal still hasn’t closed.
“Everyone is saying the sale is finalized,” said the shareholder, Farokh Lam, of Woburn, Mass. “It is not.”
Lam noticed that on pages 7 and 9, the original WaMu purchase and sale agreement allows the FDIC to extend the settlement date. He says he asked about it, and the FDIC confirmed in phone calls and emails that the settlement date was set for Aug. 30, 2010, and could be extended further.
“Settlement Date” means the first Business Day immediately prior to the day which is one hundred eighty (180) days after Ban Closing, or such other date prior thereto as may be agreed upon by the Receiver and the Assuming Bank. The Receiver, in its discretion, may extend the Settlement Date.
It says: “The purpose of this amendment is to extend the time period for Final Settlement to August. 30, 2010.”
WaMu’s final days were chronicled in depth by Puget Sound Business Journal Staff Writer Kirsten Grind in an award-winning series.
Does this mean that all the WAMU foreclosures being pushed through the courts by JPMorgan Chase using the FDIC Purchase and Sale Agreement are invalid?
Does it mean if they haven’t closed the deal THEY DO NOT OWN THE LOANS OR THEIR SERVICING RIGHTS?
Where are the windfall profits going after the foreclosure sale?
What if the agreement changes before it is finalized?
So many questions…
Pipe up in the comments and let me know what you think.
The way I see it is, if they haven’t finalized the deal, how can they foreclose on the homes?
[ipaper docId=36027673 access_key=key-5z7g1dy0c99oralt1p0 height=600 width=600 /]
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
I closed in 2006, My loan amount is 312k, I am in Virginia and I am presently current but will reset this fall and likely be forced to choose between food and my home. I am a WAMU stated no doc negative amortization alleged loan that was assumed by Chase. Multiple Respa TILA violations.
Hersid.com recently confirmed my alleged loan is a MERS loan. Will pursue the trustees with scrutiny and will find what I am looking for.
Is this done through a forensic audit or some other securitization chain of title search? I will soon find out but any pointers in the right direction appreciated.
Thanks for all those in service to others. I had to get this to you ASAP.
This may be the remedy I and others have been waiting for. I wish to hear from as many people in the same state and boat as I whether you know what to do or not.
I pray the study below helps many of you. God Bless. Clint – wikiwild@gmail.com
STUDY: Mortgage Assignments to Washington Mutual Trusts Are Fraudulent
-Aug 7, 2011 by Neil Garfield
http://tinyurl.com/WamuRemedy
I don’t want to sound paranoid, but I believe the government is aiding the banks in their fraud.
My house is being foreclosed on by JPMorgan Chase. On September 1, 2006 they were my lender. Chase now tells me that since October 13, 2006 they have been a servicer and Freddie Mac is an investor.
Freddie Mac tells me they’ve owned my loan since October 12, 2006.
There have been no transfers of the mortgage since the initial recordation of the mortgage on September 15, 2006.
JPMorgan is asserting in their foreclosure complaint that the are the “mortgagee” and holder of the note. They are using as evidence old copies of the mortgage and note from September 15, 2006 which offer proof of them being a lender. I find it implausible that JPMorgan Chase is servicing a loan for themself. They will do whatever it takes to take your house including steal
Meanwhile I have in writing that they’ve stated they are a servicer and Freddie Mac is the investor. If my loan has been converted into an “investment” then my note shouldn’t exist. My note would have been originally held by a SPV(Special Purpose Vehicle) to avoid paying transfer taxes to not have done this would be IRS Tax Fraud. The SPV would have been required to deliver the notes into the REMIC/trust, to not have done that would be Securities fraud.
As far as Freddie Mac stating they “own” my loan but not having any recorded interest in my mortgage I believe that it’s intentional and helps the bank to foreclose if they don’t have to deal with the whole securities complexity of trying to decide who has standing. The investors? Your loan was written off. You can’t collect on a debt that already was written off.
Google the phrase “JPMorgan Chase misrepresentations of fact”. If you come upon an employee manual for Chase’s employees look at page 16.