World Savings Bank and Fannie Mae Securitizations

world_savings_logoWorld 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

 

Author: dmedstrom

Reverse Engineering and Failure Analysis - Reverse Engineering Wall Street