Pursue is, and always could have been, a complete stranger so you're able to identity. The only connection Pursue ever endured with any WMB loan is the not clear and you will self-serving umbilical cord called the Buy & Expectation Agreement, as well as (powerless) Restricted Power away from Attorney data files granted so you're able to Chase on the FDIC (a story off neglect and you will complicity for another date). Shortly after a decade + exploring this plan, the new cord you to provided the new lifeblood for the Chase program can be cut anywhere between WMB, Mother FDIC, and you can Pursue.

When the tunes eliminated to the nine/, discover zero records evidencing one business of your tens out of thousands of mortgages securitized and you can sold by the WMB (zero projects out of mortgages without endorsements up on cards), just meaningless licenses stored from the investors

There had been no identified repurchases ones WMB finance of the WMAAC, Chase, or even the FDIC post-receivership, simply cash agreements that know so you can absolutely nothing. Someone refuted responsibility having people and you will dealers left instead recourse. Which have WMB dry, plus the trusts with no claims facing consumers without having any requisite courtroom tasks of your own mortgages and the endorsed notes, the latest trusts try caught carrying the new handbag away from fatally faulty and unenforceable mortgage loans.