A mortgage loan seller's or originator's incapacity or refusal so you're able to prize the repurchase obligation may lead to losses you to definitely, on extent perhaps not covered by credit help, get adversely affect the submit to readiness of your ties given because of the faith

But subparagraph (c) to me is the most telling. This is an admission that the trust and trustee may not have a claim against a mortgagor getting costs produced to the mortgage loan seller, while it is acting as the existing mortgagee of record.

People mortgage loan not so repurchased or substituted for will stay becoming held of the faith and you can one relevant loss commonly end up being used on the brand new associated credit help, for the the total amount available, and you can otherwise to just one or even more categories of bonds issued of the brand new trust

If the people don't have any states resistant to the borrowers, and you may WMB could well keep the borrowed funds costs getting in itself, the newest trusts never ever possessed the newest mortgages and you will cards at the time the trusts are produced, as well as realized it.