Friday, February 25, 2011
EPIC WAMU BANKSTER FRAUD
Here is an untold story given as my personal opinion about just how stupid and greedy the Banksters are:
EPIC BANKSTER FRAUD:
In 2005 Washington Mutual Bank, FA (a federal savings bank) headquartered in Danville, CA merged with Washington Mutual Bank and became nonexistent. By law when a bank merges within another, there is only one survivor – in this case it was Washington Mutual Bank, NOT Washington Mutual Bank FA which was terminated within 30 days of that merger in March or April 2005. (See Washington Mutual, Inc. 10K filing with the SEC for 12/31/2005).
Problem #1: Washington Mutual Bank, FA (now nonexistent as a legal entity) continued to make home loans under this nonexistent name to thousands of homeowners in California and elsewhere AFTER THE MERGER through the year 2007.
Problem #2: JPMorgan Chase (servicer for WaMu mortgages) is now foreclosing on thousands of homes across the country citing Washington Mutual Bank, FA as the beneficiary on Notices of Default and Notices of Trustee’s Sale. This of course is under the auspices of Jamie Dimon, CEO of JPMC, who as stated that no homeowner was foreclosed on who did not deserve such actions.
Problem #3: These acts speak to possibles violations of the California Civil Code 1550 contract law. If an entity/person does not legally exist, how can the contract (mortgage) be valid?
Problem #4: JPMorgan Chase and the FDIC are believed to know this and are trying to keep this hush hush. They even turn a blind eye to federal subpoenas. They are above the law. This is criminal.
Problem #5: The mortgages were fraudulent and probably nonenforceable from the moment of application and execution – thus making thousands of foreclosures fraudulent.
Unfortunately struggling homeowners do not have the money to hire competent lawyers with an understanding of this grand scheme of fraud to fight back.
This is about Bankster Fraud on an epic scale.