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WMIH Corp. (WMIH)

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Last Post: 5/27/2016 4:35:22 AM - Followers: 1496 - Board type: Free - Posts Today: 3

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) 05/16/2016 05:19:04 PM
WMIH News: Current Report Filing (8-k) 05/10/2016 04:33:39 PM
WMIH News: WMIH Corp. To Webcast 2016 Annual Meeting of Stockholders 05/10/2016 04:05:00 PM
WMIH News: Quarterly Report (10-q) 05/06/2016 04:54:25 PM
WMIH News: Additional Proxy Soliciting Materials (definitive) (defa14a) 04/19/2016 04:15:43 PM
PostSubject
#450910  Sticky Note WMIH to Webcast Shareholders Meeting on June 1st! Mr_Simpson72 05/10/16 04:43:25 PM
#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
#452187   Dang, sorry, bro. We all make choices user7770 05/27/16 04:35:22 AM
#452186   It's a heartwarming story, and now our "system" Bizreader 05/27/16 01:15:37 AM
#452183   maybe they will webcast that Brian Roxen will Major_Bankz 05/26/16 09:01:40 PM
#452182   Bob,don't sweat it ,I did the same with wamuvoodoo 05/26/16 08:42:01 PM
#452181   legal robbery is a very difficult to deal ora123 05/26/16 06:24:30 PM
#452180   Trump would?? Trump is a business man, would ora123 05/26/16 06:16:48 PM
#452179   Government is starting to notice (doesn't mean they duder54 05/26/16 06:00:03 PM
#452178   Our only hope or recourse is torches and pitchforks BBANBOB 05/26/16 05:46:06 PM
#452175   Lots of evidence of fraud and collusion, but creyno58 05/26/16 05:19:43 PM
#452173   It’s been recently published that the deal, by BBANBOB 05/26/16 04:34:18 PM
#452172   Suckman and group could not find anything wrong PickStocks 05/26/16 04:32:45 PM
#452171   Actually with the shareholders meeting expect nothing from PickStocks 05/26/16 04:30:07 PM
#452170   It was kind of cute watching the kids MasterBlastr 05/26/16 04:10:00 PM
#452169   Also if I remember correctly there was a fwh3334zeke 05/26/16 03:41:18 PM
#452167   part 3 investorhub123 05/26/16 03:27:04 PM
#452164   con't part 2 investorhub123 05/26/16 03:14:29 PM
#452162   I figure I've held out this long and dennyduper 05/26/16 03:04:38 PM
#452161   Goldman Sachs, Barclays, Lehmans, JP Morgan and Washington Mutual: investorhub123 05/26/16 02:55:52 PM
#452160   Has anyone thought about how every other time Countyroads 05/26/16 02:49:59 PM
#452157   SETTLEMENT AGREEMENT investorhub123 05/26/16 02:28:31 PM
#452154   Hotmeat: No I didn't deekshant 05/26/16 02:04:53 PM
#452152   Yes it's called "safe harbor" and it applies hotmeat 05/26/16 12:58:45 PM
#452151   Seems there are at least a few buyers elephantstomp 05/26/16 12:56:46 PM
#452144   Lets hope...... PickStocks 05/26/16 12:01:04 PM
#452140   It tells me they're aware Ilene's will be AaronTrainer 05/26/16 11:53:37 AM
#452135   Let's hope KKR has some good things to investorhub123 05/26/16 10:44:45 AM
#452134   A storm of GREAT news will be WEBCAST yes9 05/26/16 10:42:16 AM
#452133   It will NOT rain on the parade next week. PickStocks 05/26/16 10:36:59 AM
#452132   New Theories::::::: PickStocks 05/26/16 10:17:15 AM
#452131   Merger Predictions: KKR not WMIH: I PickStocks 05/26/16 10:11:57 AM
#452130   It will rain on the parade next week. rockie101 05/26/16 10:02:14 AM
#452129   That is so true. I'm going to Juschilln 05/26/16 10:01:14 AM
#452128   WATCH THE BOUNCING BALL,2 trade days left after BBANBOB 05/26/16 10:00:51 AM
#452126   Does this make for a good PONZI scheme: PickStocks 05/26/16 09:46:58 AM
#452125   THIS IS NOT INVESTMENT ADVICE BBANBOB 05/26/16 09:41:56 AM
#452124   As I have said numerous times here,I really BBANBOB 05/26/16 09:33:55 AM
#452122   What does your gut tell you about the dragoon76 05/26/16 09:25:47 AM
#452120   I'm pissed I rolled the dice on selling BBANBOB 05/26/16 09:00:34 AM
#452115   6 DAYS TO GO, BIG NEWS! yes9 05/26/16 05:14:58 AM
#452112   OK and ...and...You should have released and got dragoon76 05/26/16 12:46:00 AM
#452107   Thank you I bought some for about $45 fwh3334zeke 05/25/16 09:47:15 PM
#452106   same ol, milking in progress as usual, imo! Major_Bankz 05/25/16 09:44:50 PM
#452105   I think PQ was trading for a dollar deekshant 05/25/16 09:41:03 PM
#452104   Anything new today? Or just Groundhog Day? JB3136 05/25/16 09:32:13 PM
#452102   After next week what NEW THEORIES will we have? rockie101 05/25/16 09:09:01 PM
#452101   3.5 billion shares at $25-$35 would just about chimaster 05/25/16 07:52:47 PM
#452100   HOW BOUT JUST SEIZE "OUR ASSETS" ,but again BBANBOB 05/25/16 07:29:51 PM
#452099   Same reason why the merger predictions gets revised...cause SweetGeorgiaBrown 05/25/16 07:13:50 PM
#452098   I think we should go ahead and seize Tradeinman 05/25/16 06:40:17 PM
#452097   It is the 3 way split garyhalvo 05/25/16 06:28:05 PM
PostSubject