The Illusion of WaMu to JPMC Loan Assumptions

Mortgage Fraud Investigator Bill Paatalo and Southern California Attorney Charles Marshall join Attorney Neil Garfield to discuss Loan Modification Fraud, and recent foreclosure trends. Bill Paatalo has discovered recently that WaMu loans claimed to be owned by JPMorgan Chase, through the “Purchase & Assumption Agreement” with the FDIC, were in fact sold by WaMu to “Private Investor – AO1” prior to the FDIC’s Receivership. JPMC claims to own these WaMu loans to which there is also no record of the sales and transfer histories of the loans-even within their servicing platform.  It is likely that WaMu sold and securitized the loan(s) prior to September 25, 2008. If no schedule or inventory of WaMu loans has ever been produced, and there are no servicing records in existence from WaMu showing whether or not the loan was ever sold or securitized, could it be possible the loan(s) were sold by WaMu prior to September 25, 2008?    Paatalo states that Chase’s own witness testified that “Ao1” is a private investor, and this code does not mean “bank owned.”  It is almost too much to believe that one of the largest banking institutions in the world, would not have tracked the loans it originated and sold into the secondary market within its servicing systems. Homeowners and Attorneys may want to ask Chase, who is “Private Investor AO1?” Bill Paatalo- Oregon Private Investigator Office: (406) 328-4075 www.bpinvestigativeagency.com Charles T. Marshall- CA Attorney [email protected] Phone 619.807.2628