Why the Assignment from FDIC to Chase from Failed Bank WaMu, is a Fictional Document


My argument against Chase’s fictionial assignment from failed bank WaMu.  I researched the issue, and I assure you that all caselaw is impeccable.  So, if you have had Chase claiming that they got your loan from FDIC, or that FDIC assigned the loan to them, your argument is below.  In GA you cannot challenge the assignment, but many states you can.  Don’t let them steal without a fight:

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Defendants knew, or should have known that the FDIC does not execute assignments for any loans received from defunct banks, even though the fictional Transfer and Assignment of Deed to Secure Debt, showed:  “This assignment is made without recourse, representation or warranty, expressed or implied, by the FDIC in its corporate capacity or as Receiver.  This Assignment is intended to further memorialize the transfer that occurred by operation of law on September 25, 2008 as authorized by Section 11(d)(2)(G)(i)(II) of the Federal Deposit Insurance Act, 12 U.S.C. §1821(d)(2)(G)(i)(II)”.

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The FDIC does not assign loans from failed banks.   JPMorgan Chase for example, has successfully argued this point over and over again.  Case after case ruled in favor of JPMorgan Chase in that argument.[1]

[1] “Federally, the FDIC, as receiver of Washington Mutual Bank, was empowered to transfer the Bank’s assets without an assignment. See 12 U.S.C. § 1821(d)(2)(G)(i)(II) (receiver may “transfer any asset or liability…associated with any trust business) without any approval, assignment,…”); FTBK Investor II v. Mercy Holding, 36 Misc.3d 1219(A), 2012 WL 3064864 at *5 (N.Y.Sup.Ct. July 24, 2012) (citing 12 U.S.C. § 1821(d)(2)(G)(i)(II) and rejecting borrowers’ argument “that the note had to have been individually negotiated and physically indorsed to Chase [by the FDIC] through an allonge”).Id. at 845.In Beka Realty, LLC, 2013 WL 5629590, plaintiff challenged the foreclosure of his mortgage, arguing that the foreclosure was void because there was no recorded assignment of the mortgage from WAMU to Chase. Id. at *2. The court held that the FDIC, as WAMU’s receiver, was permitted to “transfer any asset or liability” of WAMU “without any approval, assignment, or consent with respect to such transfer.” Id. (quoting 12 U.S.C. § 1821(d)(2)(G)(i)(II)).  Newman v. JP Morgan Chase Bank, N.A., No. CIV. 14-2944 MJD/JSM, 2015 WL 321442, at *7 (D. Minn. Jan. 26, 2015); see also Roberts v. JPMorgan Chase Bank, N.A., Nos. 09–cv–07855 and 09–cv07879, 2011 WL 4479455, at *2 (N.D.Cal. Mar.11, 2011) (taking judicial notice of the PAA and collecting cases in which other courts also took judicial notice of the PAA and its provisions); Yetiv v. Chase Home Fin. LLC, No. 4:11–cv–01250, 2012 WL 112597, at *4 n. 1 (S.D.Tex. Jan.11, 2012) (same); Stehrenberger v. JPMorgan Chase Bank, N.A., No. 2:12-CV-874, 2012 WL 5389682, at *1 (S.D. Ohio Nov. 2, 2012)

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