the Kommet is a great hub , probably the smoothest rolling hub made but they do wear and get a little excessive travel ..I have a couple.
hard to tell what the front hub is ...you have a bigger pic ?
no the Kommet is not a stock part for a Schwinn but they did come on some Sears bikes back in the 60s....I am using one on a Sting Ray
lays an awesome skid :lol: