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Home>Boards>USListed>Insurance>WMIHCorp.(WMIH)
IsWashingtonMutualBank,FAaStraw
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IsWashingtonMutualBank,FAaStrawMan
forWashingtonMutualInc(WMI)?
Strawmanisdefinedasapersonsetuptoserve
asacoverforausuallyquestionabletransaction.
Didyoutakeoutahomemortgagein20072008
fromWashingtonMutualBank?Doesyourloan
numberbeginwith#301?Isyourlenderidentified
onyourNoteasWashingtonMutualBankFA?Do
youhavereasontobelieveyourInvestorCodeis
X99?Haveyoubeenunabletoidentifythe
securitizedtrustinwhichyourloanwasplaced?
PerhapsyouhadaStrawManasyourlender?
Forfartoomanyborrowerswhotookout
mortgagesinthe20072008periodoftimewith
thelenderidentifiedonoriginalloandocuments
as"WashingtonMutualBank,FA,afederal
savingsbank",thereremainsthebigquestionas
towhowasthetruelender.Oftentheresultsof
expensivenonproductivesecuritizationauditsin
playing"thefindtheborrowergame"resultshave
beeninconclusiveandrevealnoidentifying
information.
Let'sreviewthehistory.
Borrowersappliedformortgagesthroughvarious
avenueswithWashingtonMutualBank(WMB).
Yetloandocumentscontainmixedinformation.
HUD1documentsidentifythelenderas
"WashingtonMutual"whichinitselfisnotthe
WmihCorp.(WMIH)
1.550.0(0.00%)
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WMIHDetailedQuote
legalnameofanyentityunderthedomainofthe
holdingcompanyidentifiedas"Washington
MutualInc."(WMI)Addingtotheobfuscation,the
Note,Mortgageand/orDeedofTrust,abinding
legaldocuments,identifythelenderas
"WashingtonMutualBank,FAafederalsavings
bank"(WMBFA)whichceasedtoexistinApril
2005accordingtoWMI'sannualreportfor2005.
Addtothattheconfusinguseofthelogo,WAMU,
whichisnotthelegalnameofanyentity.
Sowhoistheactuallenderofthemortgage?Isit
WAMU?OrWashingtonMutualBank,WMB?Or
WashingtonMutualBank,FA,WMBFA?Orisit
theparentcorporation,WashingtonMutual,Inc
(WMI)?
Whydoesitmatter?OnSeptember25,2008the
entityWashingtonMutualBankfailedandwas
takenoverbyFDICasReceiver.Thatsameday
FDICasReceiversoldWMBtoJPMorganChase
Bank,NA.Chaseclaimstoowncountlessloans
thatareallegedlyindefaultonwhichtheyare
rightlybutmostlywronglyforeclosing.However,
Chaseneverproducedaninventoryoftheloans
asrequiredbythePurchaseandAssumption
Agreement.
1D
1M
2M
3M
6M
1Y
2Y
3Y
5Y
AdaptivePortfolioEnrollandget$100.
CurrentReportFiling(8k)"Edgar(US
Regulatory)"12/6/20164:16:49PM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
11/23/20164:18:37PM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
11/4/20164:29:04PM
QuarterlyReport(10q)"Edgar(USRegulatory )"
11/4/20164:17:33PM
AmendedStatementofOwnership(sc13g/a)
Thisbringsusbacktothe20072008time
periodwhenWMBbeganitsdeclineculminating
asafailedbankonSeptember25,2008.There
havebeenrumorsthatmanyoftheloans
originatedinlate2007and2008were"Portfolio
loans"buttheseportfolioshavenotbeen
identifiedbyChaseortheFDICinforeclosurelaw
suitsacrossAmerica.
Throughdocumentsthisresearcherdiscovered
revealinginformationcontainedina"MotionFor
PermissionToFileConfidentialACSImage
SolutionsDiscoveryDocumentsUnderSeal"filed
byaplaintiffwiththeUSBankruptcyCourt,
NorthernDistrictofCalifornia,Division5inan
adversariallegalactionagainstJPMorganChase
Bank,NAThedocumentwasfiledOctober10,
2014andwillbeheardNovember13,2014.
TheplaintiffrequeststheCourt'spermissionto
filespecificdocumentsundersealobtained
throughdiscoveryintheadversarycase.The
filesareaseriesofcontractsbetween
WashingtonMutualInc.(WMI)andACS
CommercialSolutions,Inc.(ACS).Noprotective
orderexistsforthedocumentsratherthereisa
gentleman'sagreementwithXeroxtotreatthe
materialsasconfidential.
"Edgar(USRegulatory )"10/13/20165:10:38PM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
10/5/20164:17:45PM
JustinTimberlakesAftermaster,Inc.(OTCQB:
AFTM)BeginsProductionPartnerswithON
Semiconductor(NADAQ:ON)"Inv estorsHubNewsWire"
10/4/20167:00:00AM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
9/9/20164:18:01PM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
8/11/20164:17:32PM
QuarterlyReport(10q)"Edgar(USRegulatory )"
8/5/20164:20:52PM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
7/11/20164:11:47PM
WMIHCorp.JoinsRussell2000Index"PR
Newswire(US)"6/28/20168:00:00AM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
6/10/20164:16:51PM
SmallCompanyOfferingandSaleofSecurities
WithoutRegistration(d)"Edgar(USRegulatory )"
6/9/20166:02:45AM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
6/7/20164:03:21PM
StatementofChangesinBeneficialOwnership
(4)"Edgar(USRegulatory )"6/3/20165:04:24PM
StatementofChangesinBeneficialOwnership
PerthesaidMotiontheACSdiscoveryfiles
allegedlyshowthefollowingrevelations:
ACSreceivedpaperloanoriginationfilesfrom
WashingtonMutualInc(WMI)inHouston.[Not
fromWMBorWMBFA.]
ACSpreparedthedocumentsforscanningthe
documentswerenotsupposedtoincludethe
collateralfile,whichiffoundwasreturnedtoWMI.
(4)"Edgar(USRegulatory )"6/3/20165:03:34PM
StatementofChangesinBeneficialOwnership
(4)"Edgar(USRegulatory )"6/3/20165:03:33PM
StatementofChangesinBeneficialOwnership
(4)"Edgar(USRegulatory )"6/3/20165:02:43PM
StatementofChangesinBeneficialOwnership
(4)"Edgar(USRegulatory )"6/3/20165:01:50PM
collateralfile,whichiffoundwasreturnedtoWMI.
ACSshippedthedocumentstoJuarez,Mexico.
Theactualmovementoffileswasvideotapedby
aTexastelevisionnewscrewaspreviously
writtenuponthisblog.
ACSscannedthedocumentsinJuarez,Mexico.
ACSstoredthedocumentsinJuarez,Mexico
untilWMIdirectedACStodestroytheloan
documents.
ACSdestroyedtheloanoriginationdocumentsas
orderedbyWMI.
ACSmadetheloanoriginationdocumentimages
availableviatheFileNetSystemsoftware.
ACSprovidedremotescanningfacilitiestoscan
indocumentslikethecollateralfilesintoFileNet.
ACSscannedandthereaftermaintainedasthe
WMILoanportfolio,ambiguouslyreferredtoas
theWAMULoanPortfolio.
ACSsoldsomeoftherecordstoJPMorgan
ChaseBank,NA(Chase)anddestroyedtherest.
Thedocumentsscannedincludedboththe
Plaintiff'sHomeEquityLinesofCredit.The
FISERVinsuranceontheHELOCinthiscaselist
thelendernameasWMIandnotWashington
MutualBank.ThisisevidencethattheReceiver
(FDIC)didnottransfertheHELOCtoChase
becauseitwasneverownedbyWashington
MutualBank.
TheACSevidenceisimportanttotheplaintiff
becauseChasehasproducedloanorigination
filesthatwerepresumablydestroyedbyACS.
Onewaythiscouldhavebeendoneisby
reproducingtheloanoriginationdocumentsfrom
theACSdigitalimagefiles.Thissupportsthe
claimthatthedocumentsproducedbyChaseare
allegedlyfake.
Theinformationisimportantbecausetheloan
portfolioisidentifiedasbelongingtoWashington
MutualInc.(WMI)andnotWashingtonMutual
Bank(WMB).WMIisdirectedthemaintenanceof
thisloanportfolioatACS,notWashingtonMutual
Bank.
TheMotionassertsthatPlaintiff'sWashington
MutualBankFA(WMBFA)(loan#301)
originationdocumentsweresenttoACSImage
Solutions.WMIcorrespondencetoACSdated
July25,2008appearstobetherequestfor
recordsmaintainedbyACS.
Thisallegedlyfurthersuggests:
ThatWashingtonMutualBankFA(WMBFA)isa
strawmanlendernameforWashingtonMutual
Inc.(WMI)
ThatWashingtonMutualInc.(WMI)wasthe
originallender,notWashingtonMutualBank
(WMB).
ThatWashingtonMutualBank(WMB)wasnever
morethantheservice.
Plaintiff'sConclusion:
IfWashingtonMutualBankdidnotowntheloan
CurrentReportFiling(8k)"Edgar(USRegulatory )"
5/16/20165:19:04PM
CurrentReportFiling(8k)"Edgar(USRegulatory )"
5/10/20164:33:39PM
WMIHCorp.ToWebcast2016AnnualMeetingof
Stockholders"PRNewswire(US)"5/10/20164:05:00PM
QuarterlyReport(10q)"Edgar(USRegulatory )"
5/6/20164:54:25PM
AdditionalProxySolicitingMaterials(definitive)
(defa14a)"Edgar(USRegulatory )"4/19/20164:15:43PM
sponsoredfinancialcontent
WhyYourCharitableTaxDeductionMayBeMore
Valuablein2016FidelityCharitable
IfWashingtonMutualBankdidnotowntheloan
portfolio,whichisapparentlythecase,thenFDIC
theReceivercouldnothavetransferredthesaid
loanportfoliotoJPMorganChaseBank,NAon
September25,2008.
ThisisevidencethatWMBwasthe"Loan
Servicer"andnottheowneroftheloan.
Thus,Chaseisactingasa"LoanServicer"
havingboughttheservicingbusinessfromthe
FDICasReceiver.
ThesaidMotionwillbeheardbeforeHonorable
ArthurS.WeissbrodtatahearinginCourtroom
3020onNovember13,2014at3PMattheUS
BankruptcyCourtinSanJose,California.
Source:PACER
Case:1005245,Doc#431filed10/10/14US
BankruptcyCourt,NorthernDistrictof
CaliforniaDivision5JamesMadisonKelley
v.JPMorganChaseBankNA.
See
http://victoryoverchase.blogspot.com.es/2014_10_01_a
rchive.html
ps:doesanybodyhaveacopyofthatdoc(Source:
PACER
Case:1005245,Doc#431filed10/10/14US
BankruptcyCourt,NorthernDistrictofCalifornia
Division5JamesMadisonKelleyv.JPMorganChase
BankNA)
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