Tuesday, January 7, 2014
The Great Chase WAMU $300 Billion Caper? | Livinglies's Weblog
Hiding in plain sight, Chase may indeed have taken control of the portfolio loans of Washington Mutual. The FDIC receiver clearly stated to me that there was no assignment of mortgages. He also said that he thought Washington Mutual was servicing about $1 Trillion in loans originated by WAMU or its originators (pretender lenders). And he said that it was estimated by him and the U.S. Bankruptcy Trustee that about 1/3 of those loans were portfolio loans --- I.e. Real loans paid for by WAMU. And of course, as previously reported here and elsewhere we now know that Chase acquired no loans as part of the merger with WAMU.
So the question is "What happened to the $300 Billion in loans that were real assets of WAMU?" Nobody has really asked and obviously no answer has been forthcoming --- especially not from Chase who was going around the country foreclosing on loans that it said it acquired "by merger" from WAMU............The Great Chase WAMU $300 Billion Caper? | Livinglies's Weblog
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