Thursday, August 23, 2012

JPMORGAN CHASE: SCHEDULE OF LOANS PURCHASED FROM WAMU DOES NOT EXIST; NO ASSIGNMENTS OF MORTGAGE, NO ALLONGES OR ANY EVIDENCE OF TRANSFERRING OWNERSHIP OF LOANS FROM WAMU TO CHASE



http://sgtreport.com/2012/08/breaking-out-of-the-mouth-of-jpmorgan-chase-schedule-of-loans-purchased-from-wamu-does-not-exist-no-assignments-of-mortgage-no-allonges-or-any-evidence-of-transferring-ownership-of-loans-from-wam/

UPDATE: Friends, I just received this note from our friend and mortgage fraud expert Vermont Trotter  regarding this story:
The trusts are all empty. The master loan doc contractually allows for the hypothecation and re-hypothecation of the assets. Hypothecation is a legal term meaning to pledge, but not deliver an asset. To hypothecate means there is no true sale of the asset. To re-hypothecate means it can be pledged multiple times and, again, never have a true sale. No one owns anything.” – V. Trotter
http://foreclosuredefensenationwide.com/?p=469

OUT OF THE MOUTH OF JPMORGAN CHASE: SCHEDULE OF LOANS PURCHASED FROM WAMU DOES NOT EXIST; NO ASSIGNMENTS OF MORTGAGE, NO ALLONGES OR ANY EVIDENCE OF TRANSFERRING OWNERSHIP OF LOANS FROM WAMU TO CHASE

August 21, 2012

Confirming, under oath and in print what we already suspected: there is no schedule of mortgage loans evidencing what JPM allegedly “purchased” from the FDIC in connection with the failure of WaMu. This is from the sworn deposition testimony of Lawrence Nardi, the operations unit manager and a mortgage officer for JPM, who was previously with WaMu and was picked up by JPM after WaMu’s failure. The 330 page deposition was taken by counsel for the homeowner on May 9, 2012 in the matter of JPMorgan Chase Bank, N.A. as successor in interest to Washington Mutual Bank v. Waisome, Florida 5th Judicial Circuit Case No. 2009-CA-005717.


Here is the question and the answer:

Q: (page 57, beginning at line 19): Okay. The — are you aware of any type of schedule of loans that would have been created to represent the — either the loans that were asset loans or the loans that were serviced by WAMU? Are you — was the — do you know if there is a schedule or database of loans like that?

A: (page 58, beginning at line 1): I know that there was a schedule contemplated in certain documents related to the purchase. That schedule has never materialized in any form. We’ve looked for it in countless other cases. We’ve never been able to produce it in any previous cases. It would certainly be a wonderful thing to have, but it’s — as far as I know, it doesn’t exist, although it was — it was contemplated in the documents.

As we all know, JPM has also stated, in a Federal Court filing, that it is NOT the “successor in interest to WaMu.” However, the deposition testimony gets even better as the day went on:

Q: (beginning at page 260, line 18): Have you ever in your duties of being a loan analyst — a loan operations specialist, have you ever seen an FDIC bill of sale or a receiver’s deed or an assignment of mortgage or an allonge?

A: (page 260, beginning at line 23): For loans, I’m assuming you’re taling about the WaMu loan that was subject to the purchase here.

Q: (page 261, line 1): Right.

A: (page 261, beginning at line 2): No there is no assignments of mortgage. There’s no allonges. There’s no — in the thousands of loans that I have come into contact with that were a part of this purchase, I’ve never once seen an assignment of mortgage. There is simply not — they don’t exist. Or allonges or anything transferring ownership from WAMU to Chase, in other words. Specifically, endorsements and things like that.

So, JPM allegedly “purchased” mortgage loans from the FDIC out of the WaMu failure, but there is no schedule of what loans were purchased, no assignments, no allonges, no endorsements, nothing that transferred ownership of the loans from WaMu to Chase. However, as we all know, JPM goes around the country touting that it is the “successor in interest to WaMu” (which it has admitted in Federal Court that it is not) and relies on the amorphous “FDIC Affidavit” which, as far as what the “Affidavit” is proffered for, is directly contradicted by the sworn deposition testimony of JPM’s authorized representative WHO WAS FORMERLY WITH WAMU AND WAS PICKED UP BY JPM.

Fraud on the courts, anyone?

Jeff Barnes, Esq., www.ForeclosureDefenseNationwide.com

13 comments:

  1. Thank you, AK!!!
    Looks like my (fraudulent) WAMU Mtge. totally dissolved into fraudulent bundles & never transferred to JPM (!!!) and am finally Free at Last, Great God-dess Almighty...Free at Last!!!
    Eternal gratitude to you, AK, for posting this tsunami-esque sea change that will be unfolding and resonating wherever vampire cabal mtges. and suffering exist.

    I was about to mail in my Sept. Mtge. pymt today (after selling many things to make the !!!$$##@@%%!!**&^) pymt...and a little voice said "WAIT"...my Angel Card for today was 'Gratitude Galore"...
    WOW O' WOW!!!

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  2. I don't consider myself a dumb person but I have no idea what any of this means. I feel like it's important though so can anyone explain it to me like I'm 2 years old?

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  3. I'm sure I'm not the only one who needs this translated into ordinary persons language. I suspect it is the tip of the iceburg of big banks buying smaller banks and not paying for it. In other words, in this case, the wamu loans/mortgages are no longer owed to JP Morgan. Someone please help us understand what this really means.
    Dennis Patterson--Deer Park, WA

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  4. Lies, to be sure, but fraud? Who is the injured party? Is the taxpayer being defrauded to benefit JPM for a service JPM never provided? This is the kind of sick twisted crap we've all come to expect from JPM, Chase, ad nauseum, but I'm not even sure how JPM benefits from the lie. Has it really gotten to the point where these guys engage in non-profit lying because they just don't know how to do anything but lie?

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    1. Fraud. Lying under oath...that's what that means. The "injured parties" are all the good citizens who wanted to mortgage a home...that's not the hard part. The hard part is going through all the paperwork to prove that these 'financial institutions' illegally took over mortgages, loans and other entities after Washington Mutual tanked a few years back. Then, JPM took over these accounts secretly, just like Bank of America and Fannie Mae. This transcript from the court hearings basically proved that, so, now we have to look at other Institutions and bring charges on them as well. It has taken us all on a horrible rollercoaster, and its all their fault. We the people do not make this economy go waaaaaaay up, then suddenly crash...it makes no sense. So, you have to look @ the banking/monetary system, and dechyper the codes (they make it tricky and jargon-esque when they want to hide something) to find the truth. We know they lie, they've lied in the past, and they're still lying...but we have to prove this. That's tough to do, seeing as how a corrupt system will be intertwined to be stronger, but we out number them.


      Hope that answers your questions

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  5. Promissory Notes and Mortgages are legal documents. In order to transfer them legally, there must be special paperwork--assignments or documents that give you the right to collect on them. Legally, if you just walk into someone's office and take a "mortgage" document (whatever it's called in that state), you don't own it and you can't collect it. There have to be legal assignments of the rights associated with that document. When you go to court to enforce one of these "instruments," you must give evidence that you are the "legal holder" of the instrument. So, if JPMC has been foreclosing on these loans and telling the Court, as they must, that they are the legal holder of that document, they've been lying like rugs. There's the one minute version.

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  6. What it means, essentially, is that if you had a mortgage with WAMU and have been told that it was passed (sold) to JP Morgan then it was not actually sold to them at all. You do not owe JP Morgan anything, and they will have to prove otherwise if they can.

    Which they can't it seems!

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  7. What about WAMU credit card balance (not a mortgage) that Chase supposedly took over?

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  8. For those interested in continuing economic news directly from the country's news source. Is a new financial system almost here?

    "Iceland's recovery continues, declared 'impressive;"
    http://www.icenews.is/index.php/2012/08/22/icelands-recovery-continues-declared-impressive/

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  9. This is all part of the global fiat fractal debt based banking system that we've been living in. It is one gigantic scheme of fraud. For a better understanding, I suggest tuning in to the documentary HOW MONEY BECAME WORTHLESS - it is airing again on the Documentary Channel this coming Thursday, August 30th. It is the easiest to understand explanation that I've ever heard. Here is the trailer: http://www.youtube.com/watch?v=JPuTCBlgf-4

    And to view online (for a $5 fee) http://100thmonkeyfilms.com/endoftheroad/ --



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  10. Sorry, I'm just a musician and college professor...should i understand this? It does sound important, but not sure what it really means.

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  11. I was trying to take advantage of the latest underwater loans national mortgage settlement to reduce my interest rate, which is at 6.75%. I am in California and this is my 8th attempt in try to reduce my interest rate with Chase. After all my attempts and meeting all the requirements to be eligible for this latest try Chase now tells me that WAMU owns my loan and that they only service it. They said although I met all the requirements that the mortgage had to be owned and serviced with the same lender and being that WAMU owns it they denied me. So can someone give me some advice on what to do?

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  12. Thank you for posting this great content. I was searching for this subject for a long time. I found your post quiet interesting.

    ReplyDelete

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