WAMU entities no longer listed in JPM Subsidiaries Exhibit 21
https://www.boardpost.net/forum/index.php?topic=6974.msg92546#msg92546
Zitatdoo_dilettante: Hot off the latest JPM annual filings. Looks like all WAMU subsidiaries disappeared or are all consolidated!!!
http://www.secinfo.com/dJ5e.m8v.b.htm
Exhibit 21 JPMorgan Chase & Co.
List of subsidiaries While there are a number of subsidiaries that are required to be reported for various purposes to bank regulators, the following is a list of JPMorgan Chase & Co.?s significant legal entity subsidiaries as of December 31, 2014, as defined by SEC rules. The list includes the parent company of significant subsidiaries even if the parent company did not meet the definition of a significant subsidiary. Excluded from the list are subsidiaries that, if considered in the aggregate, would not constitute a significant subsidiary under SEC rules as of December 31, 2014. Also included in the list are certain subsidiaries that have been designated as material legal entities for resolution planning purposes under the Dodd-Frank Act that did not meet the definition of a significant subsidiary under SEC rules. December 31, 2014 -------------------- Or incomplete?!
December 31, 2014 Name Organized Under The Laws Of JPMorgan Chase Bank, National Association United States Chase Paymentech Holdings, Inc. United States Chase Paymentech Solutions, LLC United States Paymentech, LLC United States JPMN Inc United States Chase Mortgage Holdings, Inc United States J.P. Morgan Treasury Technologies Corporation United States J.P. Morgan International Inc United States Bank One International Holding Corporation United States J.P.Morgan International Finance Limited United States J.P. Morgan Overseas Capital Corporation United States J.P. Morgan Whitefriars Inc. United States JPMorgan Holdings (Japan) LLC United States JPMorgan Securities Japan Co., Ltd. Japan J.P. Morgan AG Germany Dearborn Merchant Services, Inc. Canada Chase Paymentech Solutions Canada Paymentech Salem Services, LLC United States Chase Paymentech Europe Limited Ireland J.P. Morgan Capital Holdings Limited United Kingdom J.P.Morgan Chase (UK) Holdings Limited United Kingdom J.P. Morgan Limited United Kingdom J.P.Morgan Chase International Holdings United Kingdom J.P. Morgan Securities PLC United Kingdom J.P.Morgan Europe Limited United Kingdom J.P. Morgan International Bank Limited United Kingdom J.P. Morgan Broker-Dealer Holdings Inc. United States J.P.Morgan Securities LLC United States J.P. Morgan Clearing Corp. United States J.P.Morgan Equity Holdings, Inc United States CMC Holding Delaware, Inc United States Chase Bank USA, National Association United States Chase BankCard Services, Inc. United States Chase Issuance Trust United States Banc One Capital Holdings LLC United States BOCP Holdings Corporation United States J.P.Morgan Services Asia Holdings Inc United States J.P.Morgan Services Asia Holdings Limited Mauritius J.P.Morgan Services India Private Limited India JPMorgan Asset Management Holdings, Inc United States J.P.Morgan Investment Management, Inc United States JPMorgan Asset Management International Limited United Kingdom JPMorgan Asset Management Holdings (UK) Limited United Kingdom JPMorgan Asset Management (UK) Limited United Kingdom JPMorgan Asset Management Holdings (Luxembourg) S.à.r.l. Luxembourg JPMorgan Asset Management (Europe) S.à.r.l. Luxembourg JPMorgan Distribution Services, Inc. United States JPMorgan Funds Management, Inc. United States J.P. Morgan Ventures Energy Corporation United States -------------------- The subsidiaries reporting gets funnier every year:
Annual Report 2008 included the State and the percentage of shareholding. Since the Annual Reports 2009 it included only the State where the entities were incorporated.
Now it only shows the country - that's what I call transparency..... -------------------------------------------------- Zitat azcowboy: Doo,
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 ~ ) -------------------- Zitat boarddork: 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
And this is just mortgages..........what else is returning?
That is an amazingly short and get ready to cover-your-a$$, overly simplified list, compared to all the years prior 10-k's I analyzed in my objections to the court. Rosen="hiding the sausage"
Pretty easy to hand the 'sausage' back to 'somebody' without a paper trail.......you know, that thing where you pretend you bought the luxury car, but you were really just leasing. Sure is almighty interesting coincidental where JPM is saying they can no longer keep $100B in 'banking deposits' from certain depositors. http://www.bloomberg.com/news/articles/2015-02-24/...needs?cmpid=yhoo Like certain $78B in refinance proceeds, 6 years percentage share of servicing fees, interest, etc. -------------------- Zitat Scott Fox: Private Label. Some private institutions, such as subsidiaries of investment banks, financial institutions, and home builders, also issue mortgage securities. When issuing mortgage securities, they may issue either agency or non-agency mortgage passthrough securities; however, their underlying collateral will more often include different or specialized types of mortgage loans or mortgage loan pools that do not qualify for agency securities. The transactions may use alternative credit enhancements such as letters of credit. These non-agency or so-called private-label mortgage securities are the sole obligation of their issuer and are not guaranteed by one of the GSEs or the U.S. Government**. Private-label mortgage securities are assigned credit ratings by independent credit agencies based on their structure, issuer, collateral, and any guarantees or other factors. - See more at: http://www.investinginbonds.com/...56&id=134#sthash.TbUz1YU3.dpuf --------------------- Zitat boarddork: private-label mortgage securities are the sole obligation of their issuer............so would the FDIC Resolution Trust Corp (RTC) use its securitization creation powers to create securities based on Washington Mutual issued mortgages? Seems like a possibility to me.
What's also interesting about this definition, is when you read that "underlying collateral will more often include different or specialized types of mortgage loans or mortgage loan pools that do not qualify for agency securities".........this is the exact description of what a mortgage 'held in portfolio' contains in the definition I've posted mutiple times recently.....REMEMBER WMI's 6/30/2008 Quarter Ending reports $222 Billion in portfolio loans...........separate from an additional $19 Billion in MBS
Again, What is 'Mortgages held in Portfolio'? http://www.brokeroutpost.com/reference/28593.htm rtfolio Loans
Portfolio loans are mortgages that are held as an investment by the lender. Usually they hold on to the loan because it doesn't fit the underwriting guidelines for investors on the secondary market. (i.e. securitized, packaged and sold for secondary market)
There really is no advantage to having your mortgage held by a portfolio lender. The rates are usually the same the only difference is that the mortgage usually will not be sold off many times over the life of the loan.
Many times a portfolio lender will have programs or different guidelines that are not typical of loans that are sold on the secondary market which follow FNMA and FHLMC guidelines. Therefore you may be able to sometimes obtain a certain home loan program that you may not normally be able to obtain due to your certain situation, by going with a lender that offers a portfolio loan.
Portfolio loans are mortgage loans in which a lender will loan their own money and have minimal plans of selling the loan or transferring servicing to another bank or lender. Often times, portfolio loans will have something different to them that makes it unique to another bank such as the mortgage note being based on a different index.
Lenders that are portfolio lenders often have very conservative guidelines. This is because they plan on holding the loan for the long term.
Portfolio lenders are usually more flexible in their underwriting guidelines. When lenders hold and service their own loans, they have the ability to work outside the box and approve exceptions that typical lenders may not.
While portfolio lenders may be more flexible with their lending guidelines, they can be more conservative on things like: the types of properties they lend on, the Loan to Value (LTV) ratios, the appraisal and review. Since they intend to keep the loan, in the event they have to foreclose they want to make sure that the property will resell, quickly, and for at least what they lent on the property.
Using a broker is a big plus here because they can look at portfolio loans and non portfolio loans to find you the best deal along with the product you are looking for.
Portfolio loans are often kept in a banks "portfolio" because they are not readily marketable to Wall Street investors for one reason or another. Because banks take longer to recoup they capital with Portfolio Loans, this type of loans often carry higher interest rates than "cookie cutter" loans.
GET IT, GOT IT, GOOD. and Yeehaw.
KKR is going to supersize our BigMac, any day now.
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