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  • WaMu Settlement Date Extension

    Enviado por

    Foreclosure Fraud
    11K visualizações1 página
    This is very intriguing... Check out the the excerpts from the report below... Game Changer? Seattle News, Puget Sound Business Journal, Seattle Newspaper WaMu sale hasn't closed, document suggests Next month will mark two years since federal regulators seized Washington Mutual and sold it to JPMorgan Chase for $1.9 billion. Now a document that appears to be from the Federal Deposit Insurance Corporation suggests the deal still hasn’t closed. “Everyone is saying the sale is finalized,” said the shareholder, Farokh Lam, of Woburn, Mass. “It is not.” Lam noticed that on pages 7 and 9, the original WaMu purchase and sale agreement allows the FDIC to extend the settlement date. He says he asked about it, and the FDIC confirmed in phone calls and emails that the settlement date was set for Aug. 30, 2010, and could be extended further. "Settlement Date" means the first Business Day immediately prior to the day which is one hundred eighty (180) days after Ban Closing, or such other date prior thereto as may be agreed upon by the Receiver and the Assuming Bank. The Receiver, in its discretion, may extend the Settlement Date. It says: “The purpose of this amendment is to extend the time period for Final Settlement to August. 30, 2010.” WaMu's final days were chronicled in depth by Puget Sound Business Journal Staff Writer Kirsten Grind in an award-winning series. Does this mean that all the WAMU foreclosures being pushed through the courts by JPMorgan Chase using the FDIC Purchase and Sale Agreement are invalid? Does it mean if they haven't closed the deal THEY DO NOT OWN THE LOANS OR THEIR SERVICING RIGHTS? Where are the windfall profits going after the foreclosure sale? So many questions... Pipe up in the comments and let me know what you think. The way I see it is, if they haven't finalized the deal, how can they foreclose on the homes? ~ 4closureFraud.org

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    This is very intriguing... Check out the the excerpts from the report below... Game Changer? Seattle News, Puget Sound Business Journal, Seattle Newspaper WaMu sale hasn't closed, document suggests Next month will mark two years since federal regulators seized Washington Mutual and sold it to JPMorgan Chase for $1.9 billion. Now a document that appears to be from the Federal Deposit Insurance Corporation suggests the deal still hasn’t closed. “Everyone is saying the sale is finalized,” said the shareholder, Farokh Lam, of Woburn, Mass. “It is not.” Lam noticed that on pages 7 and 9, the original WaMu purchase and sale agreement allows the FDIC to extend the settlement date. He says he asked about it, and the FDIC confirmed in phone calls and emails that the settlement date was set for Aug. 30, 2010, and could be extended further. "Settlement Date" means the first Business Day immediately prior to the day which is one hundred eighty (180) days after Ban Closing, or such other date prior thereto as may be agreed upon by the Receiver and the Assuming Bank. The Receiver, in its discretion, may extend the Settlement Date. It says: “The purpose of this amendment is to extend the time period for Final Settlement to August. 30, 2010.” WaMu's final days were chronicled in depth by Puget Sound Business Journal Staff Writer Kirsten Grind in an award-winning series. Does this mean that all the WAMU foreclosures being pushed through the courts by JPMorgan Chase using the FDIC Purchase and Sale Agreement are invalid? Does it mean if they haven't closed the deal THEY DO NOT OWN THE LOANS OR THEIR SERVICING RIGHTS? Where are the windfall profits going after the foreclosure sale? So many questions... Pipe up in the comments and let me know what you think. The way I see it is, if they haven't finalized the deal, how can they foreclose on the homes? ~ 4closureFraud.org

    Direitos autorais:

    Attribution Non-Commercial (BY-NC)
    Baixe no formato PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    11K visualizações1 página

    WaMu Settlement Date Extension

    Enviado por

    Foreclosure Fraud
    This is very intriguing... Check out the the excerpts from the report below... Game Changer? Seattle News, Puget Sound Business Journal, Seattle Newspaper WaMu sale hasn't closed, document suggests Next month will mark two years since federal regulators seized Washington Mutual and sold it to JPMorgan Chase for $1.9 billion. Now a document that appears to be from the Federal Deposit Insurance Corporation suggests the deal still hasn’t closed. “Everyone is saying the sale is finalized,” said the shareholder, Farokh Lam, of Woburn, Mass. “It is not.” Lam noticed that on pages 7 and 9, the original WaMu purchase and sale agreement allows the FDIC to extend the settlement date. He says he asked about it, and the FDIC confirmed in phone calls and emails that the settlement date was set for Aug. 30, 2010, and could be extended further. "Settlement Date" means the first Business Day immediately prior to the day which is one hundred eighty (180) days after Ban Closing, or such other date prior thereto as may be agreed upon by the Receiver and the Assuming Bank. The Receiver, in its discretion, may extend the Settlement Date. It says: “The purpose of this amendment is to extend the time period for Final Settlement to August. 30, 2010.” WaMu's final days were chronicled in depth by Puget Sound Business Journal Staff Writer Kirsten Grind in an award-winning series. Does this mean that all the WAMU foreclosures being pushed through the courts by JPMorgan Chase using the FDIC Purchase and Sale Agreement are invalid? Does it mean if they haven't closed the deal THEY DO NOT OWN THE LOANS OR THEIR SERVICING RIGHTS? Where are the windfall profits going after the foreclosure sale? So many questions... Pipe up in the comments and let me know what you think. The way I see it is, if they haven't finalized the deal, how can they foreclose on the homes? ~ 4closureFraud.org

    Direitos autorais:

    Attribution Non-Commercial (BY-NC)
    Baixe no formato PDF, TXT ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    de 1

    PURCHASE AND ASSUMPTION AGREEMENT

    ww
    AMONG
    FEDERAL DEPOSIT INSURANCE CORPORATION,
    Receiver of Washington Mutual Bank
    Henderson, NV
    and
    JPMorgan Chase Bank, National Association, Seattle, WA
    DATED AS OF
    w.
    September 25, 2008

    AMENDMENT TO ARTICLE 1
    FINAL SETTLEMENT DATE
    4 clo
    Pursuant to Article 1: "means the first Business Day immediately prior to the day which
    is one hundred eighty (180) days after Bank Closing, or such other date prior thereto as
    may be agreed upon by the Receiver and the Assuming Bank. The Receiver, in its
    discretion, may extend the Settlement Date."

    The purpose of this Amendment is to extend the time period for the Final Settlement to
    su
    August 30, 2010.

    FEDERAL DEPOSIT INSURANCE CORPORATION,


    Receiver of Washington Mutual Bank
    re
    Fr

    Jo
    Manager
    Receivership Oversight
    au
    d.
    or
    g

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