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Depending on who you ask, and when you ask, the answer could be ..yes, no, ordont know! Now how is that possible? Either they do or they dont. And it is a question that every single Washington Mutual consumer should be asking. Back in 2008, the Federal Deposit Insurance Corporation (FDIC) stepped in and took over operations of Washington Mutual Bank; and through that process they sold assets of the bank to JP Morgan Chase. What JP Morgan expects the general public to believe is that means they took over all loans originated by Washington Mutual Bank, unless they are getting sued by investors and then they claim none were purchased. So how is it possible that JP Morgan talks out of both sides of its proverbial mouth? First, Washington Mutual Bank, FSB (Federal Savings Bank) f/k/a Washington Mutual, FA (Federal Association) was ONE of SEVERAL entities owned by Washington Mutual, Inc. ; JP Morgan apparently took over Washington Mutual Mortgage Securities Corp as well. (See http://en.wikipedia.org/wiki/Washington_Mutual) Then on September 25, 2008 the FDIC sold certain assets to JP Morgan Chase; one assumes those assets were the deposits, savings, credit cards and servicing contracts held by Washington Mutual Bank. I say assumes because it is only now coming to light that when the FDIC sold those certain assets, they didnt bother with identifying some of those assets and this could prove to be a big problem for JP Morgan Chase. (Time to start those crying violins). Recently Deutsche Bank National Trust Company sued the FDIC for flawed loans originated by Washington Mutual Bank; through that lawsuit, the FDIC filed a Motion to Dismiss stating the FDIC isnt responsible for those loans, that JP Morgan Chase assumed liability for those loans. So of course, Deutsche then joined JP Morgan Chase, who in turn says Whoa there Nelly, we dont have those loans and we certainly didnt take on liability for those loans. Among other sorts of teeth gnashing and whining, apparently neither the FDIC nor JP Morgan Chase are quite clear just which loans were actually sold to JP Morgan Chase. (If you want to see the Amended Complaint and Motions to Dismiss as filed, email me and I will send them to you) Which by the way, the Motions to Dismiss were DENIED. This confusion is further illustrated by a 330 page deposition of a one Lawrence Nardi. On May 9, 2012 in the matter JPMorgan Chase Bank, N.A. as successor in interest to Washington Mutual Bank v. Waisome, Florida 5th Judicial Circuit Case No. 2009-CA-005717, Lawrence Nardi, Operations Unit Manager and mortgage officer for JP Morgan Chase, who was previously employed by Washington Mutual and thereafter by JP Morgan Chase, in sworn deposition testimony under oath and subject to the penalties of perjury, testified that there was NEVER a mortgage loan schedule as to any mortgage loans purchased by JP Morgan Chase, NA from the FDIC pursuant to the Purchase and Asset Agreement (PAA) between the FDIC and JPM dated September 25, 2008. Pertinent testimony from the 330 page deposition is as follows: 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. Weve looked for it in countless other cases. Weve never been able to produce it in any previous cases. It would certainly be a wonderful thing to have, but its as far as I know, it doesnt exist, although it was it was contemplated in the documents.

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 receivers deed or an assignment of mortgage or an allonge? A: (page 260, beginning at line 23): For loans, Im assuming youre talking 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. Theres no allonges. Theres no in the thousands of loans that I have come into contact with that were a part of this purchase, Ive never once seen an assignment of mortgage. There is simply not they dont exist. Or allonges or anything transferring ownership from WAMU to Chase, in other words. Specifically, endorsements and things like that. This claim by Nardi is supported by some of the Free Writing Prospects that Washington Mutual Mortgage Securities Corporation (who allegedly purchased the loans originated by WaMu) that clearly states Possession by a Subsequent Purchaser or Creditor of the Mortgage Notes and Mortgages Could Defeat the Interests of the Trust in the Mortgage Notes and Mortgages The trustee will not have physical possession of the mortgage notes and mortgages related to the mortgage loans owned by the Trust. In addition, the trustee will not conduct any independent review or examination of the related mortgage files. Instead, to facilitate servicing and reduce administrative costs, Washington Mutual Bank fsb, a wholly-owned subsidiary of Washington Mutual Bank, the servicer of the mortgage loans, will retain possession of and will review the mortgage notes and mortgages as custodian for the Trust and financing statements will be filed evidencing the Trust's interest in the mortgage loans. The mortgage notes will not be endorsed to the Trust and no assignment of the mortgages to the Trust will be prepared. Furthermore, the mortgage notes and mortgages will not be stamped or otherwise marked to reflect the assignment to Washington Mutual Mortgage Securities Corp. and then to the Trust. If a subsequent purchaser or creditor were able to take physical possession of the mortgage notes and mortgages without knowledge of that assignment, the interests of the Trust in the mortgage notes and mortgages could be defeated. In that event, distributions to certificate holders may be adversely affected.

So it is quite understandable that consumers are confused by JP Morgan Chases claim as a party of interest in their foreclosures. And every single one should be questioning that claim. If the loan was sold to Washington Mutual Mortgage Securities Corp back when, then how could the FDIC ever sell it to JP Morgan Chase? The fact is ..they did NOT. They may have sold servicing rights to the loan, but they did NOT sell the loans to JP Morgan Chase. And everyone should be demanding proof of that purchase. I have seen numerous Assignments of Deed of Trust or Corporate Assignment of Deed of Trust in which JP Morgan falsely claims: JP Morgan Chase as Success in Interest to Washington Mutual Bank

This statement is a flat out lie; JP Morgan Chase purchased assets from the FDIC they purchase NOTHING from Washington Mutual Bank. Dont take my word for this; recently the Michigan Supreme Court looked at this issue and THEY declared in their ruling that JP Morgan Chase is not successor in interest to Washington Mutual Bank. JP Morgan Chase National Association Successor in Interest by purchase from the FDIC as Receiver from Washington Mutual Bank et al Okay. That is possible if Washington Mutual retained the loan; but if there is a REMIC on the assignment then that is a flat out lie, because the loan was sold years ago to the Washington Mutual Securities Corp who sold it to the REMIC Trust; it was not part of the assets taken over by the FDIC. If they purchased it..show me the schedule. Show me the endorsement (a real one, not a manufactured one please). Show me the receipt. My oh my what a web we weave when we first practice to deceive. Investors SHOULD be all over this mess. The issue of whether JP Morgan Chase is the successor in interest is hearsay. There is too much evidence in the general public domain and being filed in cases throughout the county demonstrating that Washington Mutual sold those loans long before the FDIC got involved; so the assignment is a sham. And you might want to look into what constitutes fraud upon the court if they come trotting into Court with their manufactured assignment as proof. The other really odd thing about these assignments they claim that the Trustee of the REMIC Trust (Wells Fargo, US Bank, Deutsche), and the FDIC ALL reside at the exact same address and share the exact same phone number. Really? Not that it is fatal to the assignment but I think it is evidence that JP Morgan lies. If I want to call the FDIC and ask them about this assignment, the number rolls to JP Morgan Chase; if I want to call one of the Trustees, the number rolls to JP Morgan Chase. Why is that? I also find it fascinating that JP Morgan, who according to financial sites, was hankering to buy Washington Mutual I cant help but wonder how attractive those unendorsed Notes were to JP Morgan Chase; does this little bit have anything to do with the OCCs Cease and Desist Order to JP Morgan Chase on their anti money laundering practices? The modern day mafia doesnt deal in drugs and booze, they deal in stolen homes. More to come....in the meantime..KEEP UP THE FIGHT!

Simonee www.infotofightforeclosure.com