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WMIH Corp. (WMIH)

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Last Post: 9/27/2016 12:35:49 AM - Followers: 1514 - Board type: Free - Posts Today: 2

WMIH and WMILT iHub Message Board                   

WMI Holdings

 

  On September 26, 2008, Washington Mutual, Inc. filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code in the Bankruptcy Court for the District of Delaware. After a 3 ½ year bankruptcy proceeding, we emerged from bankruptcy on March 19, 2012 with a new board of directors and certain new officers. At that time we also changed our corporate name to WMI Holdings Corp. and we are the successor to Washington Mutual, Inc. We currently operate a single business through our wholly owned subsidiary, WM Mortgage Reinsurance Company, Inc., a Hawaii corporation, whose sole activity is the reinsurance of mortgage insurance policies that is operated in runoff mode.

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About Washington Mutual Inc.

As early as late 2006, WaMu would begin to become a victim of what would eventually become the worst recession in US history since the Great Depression of 1929.  WaMu's aggressive business strategy would begin to unfold throughout the end of 2006 and become increasingly disastrous through 2007.  As housing rates were at all time highs before the recession began, WaMu would use its considerable leverage and assets to make large amounts of loans in both subprime mortgages and subprime credit cards.  The banking division of WaMu at one point before the end of 2007 had nearly 336 stand-alone branch buildings where various types of home loans were processed and approved.  WaMu would eventually over leverage themselves due to the high number of Adjustable Rate Mortgages (ARMs).  As the US economy slowed down, the number of home loan defaults began to rise in quick succession.  This coupled with the falling home prices throughout most of the US meant that even with foreclosures and the properties back in the hands of the company, they were unable to sell them back into the market, or were not able to derive enough revenue from the sale to cover the loan that was made on them.  In the mean time, the credit card division was also seeing a surge in the number of late and non payments being made.

By September of 2008, WaMu's stock price had fallen to $2 from its previous highs of around $50 just two years earlier.  Amid strong voices from the shareholders, then company CEO Kerry Killinger was dismissed by the company board.  In the meantime, the company went looking for a buyer for part of its banking division. WaMu had been unsuccessful in finding an appropriate buy until its seizure by the FDIC.  Overnight the companies banking division  was bought by JP Morgan Chase in a secret deal brokered by the FDIC for 1.9 billion dollars. 


PURCHASE AND ASSUMPTION AGREEMENT

AMENDED PURCHASE AND ASSUMPTION AGREEMENT - Settlement Extension to September 30, 2010


A list of common acronyms: 

A/L = Assets / Liabilities

JPMC/JPIG = JP Morgan Chase 

WMILT = WMI Liquidating Trust

JD = Jamie Dimon / Jack Daniels

ESC = Escrow

LBO = Leveraged Buyout

BOD = Board of Directors

GSA = Global Settlement Agreement

DD = Due Dilligence

NOL = Net Operating Loss - Appears to be AWOL

RON'S = Runoff Notes

DS = Disclosure Statement

EC = Equity Committee

PM = Pre-Market / Private Message

EOD = End of Day

SJ = Summary Judgement

EOM = End of Message

TIA = Thanks in Advance

EOW = End of Week

THJMFW = The Honorable Judge Mary F. Walrath

SPAC = Special Purpose Acquisition Company

 M/A = Mergers & Acquisitions

GLTY = Good Luck to You

PS = Pink Sock

GLTA = Good Luck to All

PPS = Price Per Share

HOD = High of Day

BR = Brian Rosen

IMO = In My Opinion

SS = Steve Susman

 = BR WAG = Wild Ass Guess
SPAV = Special Acquisition Vehicle MOR = Monthly Operating Report
KKR = Kohlberg Kravis Roberts SIP =Strategic Investment Partner

 

Washington Mutual Inc. has reorganized to Washington Mutual Holding Inc.
WITH SHAREHOLDERS INTACT


WASHINGTON MUTUAL EMERGES FROM BANKRUPTCY ON 3/19/12
 
WMI STARTS TRADING UNDER NEW TICKER (WMIH) 3/28/12


OPENED AT .63 CLOSED AT $1.00 HOD $1.10
VOL   2,596,805


WMIH: Here's how old shares relate in value to the new shares.

1 WAMUQ = 0.03349842 WMIH
1 WAMKQ = 0.4950146 WMIH
1 WAMPQ = 19.8005825 WMIH
1 WMIH = 29.85215422 WAMUQ
1 WMIH = 2.020142436 WAMKQ
1 WMIH = 0.050503565 WAMPQ


 SEC Filings for WMIH

 
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
WMIH
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WMIH News: Current Report Filing (8-k) 09/09/2016 04:18:01 PM
WMIH News: Current Report Filing (8-k) 08/11/2016 04:17:32 PM
WMIH News: Quarterly Report (10-q) 08/05/2016 04:20:52 PM
WMIH News: Current Report Filing (8-k) 07/11/2016 04:11:47 PM
WMIH News: WMIH Corp. Joins Russell 2000® Index 06/28/2016 08:00:00 AM
PostSubject
#442011  Sticky Note Nothing that he has posted supports the proposition mordicai 12/10/15 07:20:26 AM
#441970  Sticky Note ~ The WMIH-Corp / WMIIC Connection' Supporting Documents ~ AZCowboy 12/09/15 01:03:12 PM
#416464  Sticky Note KKR Preferred deal jhdf51 03/09/15 05:29:07 PM
#397110  Sticky Note WaMu Seesaws On M&A Speculation fsshon 03/24/14 04:17:07 PM
#463230   This is absolutely not a penny stock. Manipulated creyno58 09/27/16 01:13:34 AM
#463229   HOWEVER, there's a BIG difference between WMIH and sometimes_right 09/27/16 12:35:49 AM
#463228   WMI/WMIH== A very bright future as soon as fwh3334zeke 09/26/16 11:58:02 PM
#463227   WMIH - WMILT being controlled and manipulated? Part W3Research 09/26/16 11:27:23 PM
#463226   Yeah I agree...taxes will get em if they wait. jhdf51 09/26/16 11:21:53 PM
#463225   So the date has passed who really cares. dennyduper 09/26/16 11:14:33 PM
#463224   Lol,how did that extension for the power of wamuvoodoo 09/26/16 11:13:18 PM
#463222   I would expect nothing less! mattchew 09/26/16 10:42:29 PM
#463221   Today: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125360595&t Bizreader 09/26/16 10:35:48 PM
#463220   If a tree falls in the forest and dragoon76 09/26/16 09:42:10 PM
#463219   So, the Anniversary's pass...and nothing, as was... bkshadow 09/26/16 09:32:02 PM
#463217   Fact is... there could be another several months Bizreader 09/26/16 09:05:50 PM
#463214   My Goodness, there cant be that much longer mattchew 09/26/16 08:56:05 PM
#463213   Great point... and now we see our justice Bizreader 09/26/16 08:54:29 PM
#463211   Thanks Clawmann, BarnacleBill 09/26/16 08:52:21 PM
#463210   you mean, " 2x0+0=0 " ? wamugold 09/26/16 08:51:14 PM
#463209   I was drawn into wamu pre BK too Bill48 09/26/16 08:46:37 PM
#463208   We need the DB/FDIC/JPM settlement signed off by mattchew 09/26/16 08:42:09 PM
#463200   Read carefully: clawmann 09/26/16 07:53:31 PM
#463194   IMHO NO BBANBOB 09/26/16 06:55:41 PM
#463192   fingers and toes crossed...before new tax laws i diamondguru-one 09/26/16 06:41:56 PM
#463191   Notice he didn't say what year or century. rockie101 09/26/16 06:34:24 PM
#463190   BUT WHAT YOU PAID for your original shares BBANBOB 09/26/16 06:27:08 PM
#463189   By year end DG? jhdf51 09/26/16 06:26:25 PM
#463187   Olti100, here is the SEC filing link... bkshadow 09/26/16 05:16:52 PM
#463186   " 2 times Value" PLUS. ...is well worth the wait diamondguru-one 09/26/16 05:14:39 PM
#463185   I don't have to wait at all, as UpTickMeASAP 09/26/16 05:07:22 PM
#463184   been involved here over 7 yrs now...waited this slob 09/26/16 05:05:37 PM
#463183   Don't worry you will not have to wait long Royal Dude 09/26/16 05:00:11 PM
#463182   Quite the contrary. Those who missed the slaughter, UpTickMeASAP 09/26/16 04:59:47 PM
#463181   Thank you! That is exactly what I am. UpTickMeASAP 09/26/16 04:53:15 PM
#463180   Right. mattchew 09/26/16 04:47:25 PM
#463179   Yes, that's how I remember it anyways. mattchew 09/26/16 04:45:49 PM
#463178   ZERO is the original cost basis for WMIH, wamutrader 09/26/16 04:45:25 PM
#463176   so for WMIH, the cost base being zero ryan246 09/26/16 04:42:23 PM
#463175   I think the cost basis for WMIH is mattchew 09/26/16 04:40:11 PM
#463174   Guess it depends on who's looking at it. dennyduper 09/26/16 04:39:38 PM
#463173   How could you mistake a vulture for a AaronTrainer 09/26/16 04:33:55 PM
#463172   Patience, grasshopper... tanjazielman 09/26/16 04:30:09 PM
#463171   Looks like another fantasy day will come and UpTickMeASAP 09/26/16 04:06:22 PM
#463170   Right here on WMIH above the message board BarnacleBill 09/26/16 03:58:30 PM
#463169   ...here is a link to the SEC 10Q; Olti100 09/26/16 03:42:56 PM
#463168   Well for one....like to read what all these rockie101 09/26/16 03:29:35 PM
#463167   Large, my hope is that people will take footballref-8541 09/26/16 03:27:39 PM
#463166   History says you're right, but my crossed fingers vodkadejour 09/26/16 03:07:52 PM
#463165   I will be tickled if I actually am vodkadejour 09/26/16 03:04:48 PM
#463164   dine no need to worry about cost...taxes etc....cause rockie101 09/26/16 03:04:21 PM
#463163   Awesome advice!!!!!!! gold-nugget 09/26/16 03:01:31 PM
#463162   Actually, my humble suggestion is when this goes Large Green 09/26/16 02:58:18 PM
#463161   BBANBOB - Agree! CBA09 09/26/16 02:47:35 PM
PostSubject