http://www.bloomberg.com/news/articles/2015-02-24/jpmorgan-to-cut-100-billion-of-deposits-to-limit-capital-needs?cmpid=yhoo
Thank You ... just filed today' ... 2/24/2015 ~ ( On: Tuesday, 2/24/15, at 4:04pm ET · For: 12/31/14 )
I'll say it again; ... JPMorgan Chase Bank, National Association (N.A.) only received the "servicing rights" to the Washington Mutual Loan File' ~ ( JPM agrees' ) ...
just sayin'
AZ
Check out the R-203
Amount of residential mortgage loans,
private-label securitization by Washington Mutual ...
12/31/2008 = $165,000,000,000.00
Amount of residential mortgage loans,
private-label securitization by Washington Mutual,
Repaid' ...
12/31/2014 = $78,000,000,000.00
Amount of residential mortgage loans,
private-label securitization by Washington Mutual,
Liquidated ...
12/31/2014 = $49,000,000,000.00
Percent of residential mortgage loans originally
sold or deposited into private-label securitization by Washington Mutual,
Average Loss Severity ...
12/31/2014 = 59%
Amount of residential mortgage loans,
private-label securitization by Washington Mutual,
Remaining ...
12/31/2014 = $38,000,000,000.00 ( yes, my friends, that's ~ 38 billion ~ )
What do you think the name "private-label securitization by Washington Mutual" means? Possibly a tracking name from the FDIC Resolution Trust Corp (RTC) when they create their own MBS from portfolio mortgages taken in receivership, from the IDI (Insured Deposit Institution in receivership), and put into safe harbour? Of course JPM servicing this for the FDIC for the time being.....
"1) the FDIC Resolution Trust Corp (RTC) or its affiliates has the authority to securitize pools of previously unsecuritized mortgages held in bank portfolios, taken in receiverships.
History here: https://www.fdic.gov/ba…/historical/managing/history1-16.pdf "
Also, WMI Quarter Ending 6/30/2008, there was $222B in WMI mortgages held in portfolio. (An additional $19B in prior sold MBS). So if approx $222B - 165B = $57B remaining.................well hot dog dammit, $57B is the number owed to FHLB as a liability as of quarter end 6/30/2008. The numbers link up, I think we're getting pretty damn close.....Now leverage $38B 10x's or more :) ;) :D ;D 8)
And this is just mortgages..........what else is returning? :D :D :D :D