World Savings Bank and Fannie Mae Securitizations

World Savings Bank and Fannie Mae Securitizations

By Daniel Edstrom
DTC Systems, Inc.

We have already shown that World Savings Bank securitized commercial and residential loans.  See the following posts:

http://dtc-systems.net/2010/12/world-savings-bank-living-legacy-subprime-crisis/

http://dtc-systems.net/2011/03/world-savings-bank-loans-were-securitizated/

http://dtc-systems.net/2011/06/internal-revenue-service-publication-938-remics-reporting-information/

http://dtc-systems.net/2011/12/world-savings-bank-wells-fargo-admits-loans-securitized/

http://dtc-systems.net/2012/02/androes-world-savings-bank-lien-avoided-kansas-bankruptcy-february-2008/

Now we show that World Savings securitized multi-family housing into Fannie Mae pools.  These “pools” are REMICs.  This deal contains 9 multi-family properties with fixed rate balloon loans.  That’s right – no option ARM loans, which is what World Savings Bank is known for.

Download part 1 of the Trust Indenture here: 1-FixedRate_TrustIndenture_Part_1_1982_last_updated_1987

Download part 2 of the Trust Indenture here: 2-FixedRate_TrustIndenture_Part_2_1982_last_updated_1987

Download the Prospectus here: 3-Prospectus_2003_09_01

Download the Prospectus Supplement here: 4-Prospectus_Supplement_1_2003_09_01

Download the Prospectus Supplement Pool Statistics here: 5-Prospectus_Supplement_Pool_Statistics_2003_09_01

Download the Pool Loan Schedule here: 6-Pool_Loan_Schedule