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Last Post: 7/1/2015 12:34:41 PM - Followers: 1460 - Board type: Free - Posts Today: 73

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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Wiki
WMIH News: Current Report Filing (8-k) 06/29/2015 05:29:23 PM
WMIH News: Undervalued and Underexposed NYSE-MKT Stock to be Profiled by Large Media Group and four brief reports 06/15/2015 07:00:00 AM
WMIH News: Current Report Filing (8-k) 06/10/2015 04:32:32 PM
WMIH News: Special Profile & Four Companies Where Investors are Anticipating Success 06/03/2015 07:00:00 AM
WMIH News: Initial Statement of Beneficial Ownership (3) 05/21/2015 03:18:59 PM
PostSubject
#416464  Sticky Note KKR Preferred deal jhdf51 03/09/15 05:29:07 PM
#411004  Sticky Note EXCELLENT TIME TO READ FDIC-R MANDATE... bkshadow 12/27/14 04:49:27 PM
#410501  Sticky Note Would someone please put this past Fridays news t1215s 12/22/14 06:50:03 AM
#404493  Sticky Note Companies with "Hidden" Assets on their Balance Sheets ... W3Research 09/09/14 11:50:36 PM
#400237  Sticky Note Uncle Bo's take away from the shareholder meeting BlueeFoxx 06/08/14 08:54:02 PM
#397110  Sticky Note WaMu Seesaws On M&A Speculation BlueeFoxx 03/24/14 04:17:07 PM
#427319   ***Exciting Times*** Let Us Review*** So, So Much Large Green 07/01/15 12:42:25 PM
#427318   Unexpected bonus my ass, they knew exactly what invest1980 07/01/15 12:40:44 PM
#427317   This case, I believe may have to looked investorhub123 07/01/15 12:39:08 PM
#427316   WMIH -JPMorgan found a $30 billion 'unexpected bonus' SevenTenEleven 07/01/15 12:37:23 PM
#427315   It is all good WAMU's loans and now ora123 07/01/15 12:34:41 PM
#427314   Do you have a link that says it fwh3334zeke 07/01/15 12:33:32 PM
#427313   The loans had to be purchased after the PickStocks 07/01/15 12:28:02 PM
#427312   What is to say that JPM didn't purchase Jestiron 07/01/15 12:23:30 PM
#427311   "and the LT has said the litigation trust PickStocks 07/01/15 12:22:19 PM
#427310   mordicai, JPM disclosed how good the loans perform... bkshadow 07/01/15 12:16:28 PM
#427309   CREY Bingo Perfect - ideal question Donotunderstand 07/01/15 12:16:26 PM
#427307   Not sure of context of the post to Donotunderstand 07/01/15 12:14:01 PM
#427306   do YOU have a link where the TTEE Donotunderstand 07/01/15 12:08:46 PM
#427305   tcr for us and individuals that is nice coin Donotunderstand 07/01/15 12:04:08 PM
#427304   that is jpm's version of what happened. mordicai 07/01/15 12:03:12 PM
#427303   Un-Intermingled. Jestiron 07/01/15 11:54:38 AM
#427302   mordicai, JPM didn't JUST FIND $30B... bkshadow 07/01/15 11:49:37 AM
#427300   I have forgotten the exact wording of the Fletch-42 07/01/15 11:45:34 AM
#427298   What do you expect for someone to fight PickStocks 07/01/15 11:45:03 AM
#427296   That makes perfect sense. etzetrade 07/01/15 11:42:10 AM
#427295   Although maybe the liquidating trust had just sent mordicai 07/01/15 11:37:41 AM
#427294   shadow, like I have been saying for several tcr7309 07/01/15 11:35:38 AM
#427292   This is why escrows don't have a prayer. tcr7309 07/01/15 11:30:35 AM
#427291   123, you are exactly right, this is the tcr7309 07/01/15 11:22:33 AM
#427288   I don't know why but this may be thenurseisback 07/01/15 11:16:03 AM
#427287   The know of the freebies of purchase loan PickStocks 07/01/15 10:57:07 AM
#427286   t1215sthenurseisback Friday, 06/26/15 09:56:46 AM thenurseisback 07/01/15 10:55:54 AM
#427283   It is the one thing that really does investorhub123 07/01/15 10:36:37 AM
#427280   Go back and read the examiners full statement: PickStocks 07/01/15 10:25:39 AM
#427279   No telling, but let them reply if they PickStocks 07/01/15 10:20:26 AM
#427278   Yes you are 100% correct, it was the hotmeat 07/01/15 10:14:30 AM
#427276   yes, as I have said so many times tcr7309 07/01/15 10:11:32 AM
#427274   thx for the follow up explanation. tcr7309 07/01/15 10:08:29 AM
#427273   So who is going to force the issue tcr7309 07/01/15 10:06:53 AM
#427272   yes, I was here in 08, hmm, the tcr7309 07/01/15 10:04:27 AM
#427271   This is an absolute punch in the nads JB3136 07/01/15 09:59:10 AM
#427270   JPm has already uncovered billions long before FDIC PickStocks 07/01/15 09:50:16 AM
#427268   * * $WMIH Video Chart 06-30-15 * * ClayTrader 07/01/15 09:11:29 AM
#427267   So JPM bought $30 billion plus much more dialer55 07/01/15 09:03:43 AM
#427266   pm1012244448, read the article... bkshadow 07/01/15 08:45:32 AM
#427265   Could it be they only bought servicing rights pm1012244448 07/01/15 08:23:26 AM
#427264   That's what a scrivener's error really looks like !! muyuan51 07/01/15 08:22:29 AM
#427263   So, the $30B Commercial Mortgages JPM BOUGHT... bkshadow 07/01/15 07:43:57 AM
#427262   W3Research, Deutsche Bank / FDIC has nothing to do... bkshadow 07/01/15 06:37:09 AM
#427261   hotmeat, totally incorrect unsupported statement... bkshadow 07/01/15 06:26:09 AM
#427260   thony, I can't explain the matter to you... bkshadow 07/01/15 06:17:30 AM
#427259   I know, the information can be found in JusticeWillWin 07/01/15 06:07:16 AM
#427258   What is holding up payment to Escrow Share W3Research 07/01/15 06:06:57 AM
#427257   Here ... Gmenfan 07/01/15 06:03:24 AM
#427256   Who is William George Papesh? Bloomberg shows a JusticeWillWin 07/01/15 06:00:19 AM
PostSubject