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WMIH Corp. (WMIH)

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Last Post: 7/27/2016 6:33:22 PM - Followers: 1506 - Board type: Free - Posts Today: 96

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) 07/11/2016 04:11:47 PM
WMIH News: WMIH Corp. Joins Russell 2000® Index 06/28/2016 08:00:00 AM
WMIH News: Current Report Filing (8-k) 06/10/2016 04:16:51 PM
WMIH News: Small Company Offering and Sale of Securities Without Registration (d) 06/09/2016 06:02:45 AM
WMIH News: Current Report Filing (8-k) 06/07/2016 04:03:21 PM
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
#456838   LOL! UpTickMeASAP 07/27/16 06:59:23 PM
#456837   LOL one time I saw him give support MasterBlastr 07/27/16 06:33:22 PM
#456836   Nice move today. It'll go up it'll go creyno58 07/27/16 05:55:53 PM
#456835   According to Google search. cura asada 07/27/16 05:37:04 PM
#456834   This was a Kmart move. garyhalvo 07/27/16 05:28:05 PM
#456833   Agree This was not the normal bankruptcy ( like rwdutch 07/27/16 05:26:30 PM
#456832   Is this topped out in a channel ? Do rwdutch 07/27/16 05:16:55 PM
#456830   Wow, just came on and see a 48700 garyhalvo 07/27/16 05:05:49 PM
#456829   Like i said it's over and I learned AaronTrainer 07/27/16 04:56:39 PM
#456820   WMIH doesn't need the 2.5% or escrow to UpTickMeASAP 07/27/16 04:33:44 PM
#456818   We also have to remember that the 75/25 fwh3334zeke 07/27/16 04:32:59 PM
#456817   Well now you're above my head. I'm a AaronTrainer 07/27/16 04:31:37 PM
#456815   GREAT POST! Jestiron 07/27/16 04:22:13 PM
#456813   You came in as a wmih investor long AaronTrainer 07/27/16 04:18:39 PM
#456811   YES DOUBT VERY MUCH....Escrows are icing on the sometimes_right 07/27/16 04:15:20 PM
#456810   When will the powers to be the big Royal Dude 07/27/16 04:15:05 PM
#456809   That's the way I see it too!!! Pre Bill48 07/27/16 04:07:05 PM
#456808   Heavy buying last few minutes. rockie101 07/27/16 04:02:38 PM
#456807   No, the big money will come from WMIH, UpTickMeASAP 07/27/16 03:55:25 PM
#456806   yesterday.... investorhub123 07/27/16 03:48:05 PM
#456805   Well good to get to know you then AaronTrainer 07/27/16 03:41:06 PM
#456804   Hi Aaron, as you and I hold escrows temocat 07/27/16 03:33:40 PM
#456803   delay delay = milk milk........ it will not SweetGeorgiaBrown 07/27/16 03:31:50 PM
#456802   Was this filed today? johnydollar 07/27/16 03:31:03 PM
#456800   I have plowed into WMIH shares but just jhdf51 07/27/16 03:20:30 PM
#456799   I spotted that. Not earth shattering but note AaronTrainer 07/27/16 03:17:57 PM
#456798   It says progress but no bananas yet though jhdf51 07/27/16 03:14:42 PM
#456797   Jesus has returned!!!...with mediocre news though. So.....what do AaronTrainer 07/27/16 03:12:44 PM
#456796   Thx for this, thus its ongoing, but no temocat 07/27/16 03:05:22 PM
#456793   From the WMIH Safe board posted by Jesus M investorhub123 07/27/16 02:56:02 PM
#456792   We will not hear anything until all is Royal Dude 07/27/16 02:54:20 PM
#456791   Royal, do you think that pertains to us? temocat 07/27/16 02:50:29 PM
#456790   hidden the article "the bank reached a settlement Royal Dude 07/27/16 02:40:05 PM
#456789   Possible DB Litigation update: http://www.reuters.com/article/us-deutsche-bank-r temocat 07/27/16 02:17:33 PM
#456788   PIERS should receive something in August, but they Civil War General 07/27/16 01:43:54 PM
#456787   I have no problem waiting til monday. fredmiller1999 07/27/16 12:51:50 PM
#456786   ***Large Style Money***One Had to Follow BIG Money Large Green 07/27/16 12:36:19 PM
#456785   It looks like the last distribution announcement was investorhub123 07/27/16 12:29:31 PM
#456784   And from this point forward I won't even BBANBOB 07/27/16 11:45:12 AM
#456783   Look for a filing by Friday that will investorhub123 07/27/16 11:26:29 AM
#456781   Why would there have been any looking into BBANBOB 07/27/16 11:03:30 AM
#456780   WOULD THE FINAL PA&A INCLUDE assets not owned BBANBOB 07/27/16 10:57:42 AM
#456779   There weren't... bkshadow 07/27/16 10:57:18 AM
#456778   FINAL P&AA has not been modified... bkshadow 07/27/16 10:53:49 AM
#456777   BK BBANBOB 07/27/16 10:52:28 AM
#456776   Who modified the P/AA, JPM, WMI or FDIC-R...? PickStocks 07/27/16 10:49:53 AM
#456775   Correct, Not Applicable... bkshadow 07/27/16 10:44:46 AM
#456774   This alleged final PAA consists of 44 pages. barefoot123 07/27/16 10:39:18 AM
#456773   I agree not applicable, but it was and PickStocks 07/27/16 10:33:18 AM
#456772   Not Applicable to Documents Referenced... bkshadow 07/27/16 10:30:30 AM
PostSubject