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WMI Holdings Corp. (WMIH)

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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
Current Price
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Wiki
WMIH News: Current Report Filing (8-k) 05/04/2015 09:02:13 AM
WMIH News: Statement of Changes in Beneficial Ownership (4) 04/30/2015 06:04:40 PM
WMIH News: Statement of Changes in Beneficial Ownership (4) 04/30/2015 06:00:19 PM
WMIH News: Statement of Changes in Beneficial Ownership (4) 04/30/2015 05:59:52 PM
WMIH News: Statement of Changes in Beneficial Ownership (4) 04/30/2015 05:58:32 PM
News News Alert: Current Report Filing (8-k) 05/04/2015 09:02:13 AM
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
#422020   Impressive chart! Also have a look at the JusticeWillWin 05/05/15 02:17:26 AM
#422018   Sorry to disappoint you Boris however your blasé thenurseisback 05/05/15 12:37:00 AM
#422016   Back In a couple of days thenurseisback 05/05/15 12:03:56 AM
#422015   KKR recent funding yellow_seiko 05/04/15 11:51:44 PM
#422014   Things that make you go hmmmm. The FDIC Desperado90 05/04/15 11:28:48 PM
#422013   Suckman is out of the payment for escrows.....it PickStocks 05/04/15 11:20:15 PM
#422012   DISTRO thanks for your response soundincrest 05/04/15 11:01:20 PM
#422011   Soundincrest, GO4AWILDRIDE is definitely right, there is no cap distrojunky 05/04/15 10:46:12 PM
#422009   Thanks for the chart Don… Very strong now…and jhdf51 05/04/15 10:06:12 PM
#422007   GO4 thanks soundincrest 05/04/15 09:51:47 PM
#422003   sound There is NO PAR for COMMONS. GO4AWILDRIDE 05/04/15 09:33:55 PM
#422002   We are starting that upward movement with higher BlueeFoxx 05/04/15 09:31:22 PM
#422001   Boris what's your time frame on escrow payout rockie101 05/04/15 08:51:48 PM
#422000   Boris...........What is Par for COMMONS????? soundincrest 05/04/15 08:32:35 PM
#421999   Boris...you say at least par...Catz says Ps 7.00 rockie101 05/04/15 08:30:58 PM
#421998   It's been a long hard 7yr road for longs. Boris the Spider 05/04/15 08:29:59 PM
#421997   It is a nice change for us longs. Jestiron 05/04/15 08:11:38 PM
#421996   Some small funds can buy at $3 and Boris the Spider 05/04/15 07:50:22 PM
#421995   Ok..well at least the volume has been higher! jhdf51 05/04/15 07:35:09 PM
#421994   Come on MR"S" hit the pay button please diamondguru-one 05/04/15 07:34:12 PM
#421993   Mutual funds can buy in at $5.00, correct? Jestiron 05/04/15 07:17:06 PM
#421992   TZB can you post chart and analysis please. BlueeFoxx 05/04/15 07:08:39 PM
#421991   Wish volume was higher. Please get JB to knick 05/04/15 05:16:53 PM
#421990   How would you know? pm1012244448 05/04/15 04:02:10 PM
#421989   Bet he is playing right now with our Royal Dude 05/04/15 03:48:05 PM
#421988   could not agree more onco 05/04/15 02:49:19 PM
#421987   Really, so what'd you find out? When are Roach58 05/04/15 02:29:45 PM
#421985   Sure. It's possible that's what was really AaronTrainer 05/04/15 01:57:30 PM
#421980   Sure. He wouldn´t dare - in any case. the_pyramid 05/04/15 01:33:33 PM
#421979   Mike is a very good poker player... WAMUSHAMU 05/04/15 01:30:22 PM
#421978   Don't believe everything you "hear". Boris the Spider 05/04/15 01:29:14 PM
#421977   Trying to interpret something from someone no one dennyduper 05/04/15 01:24:42 PM
#421976   no Boris, if it's true he laughed out JB3136 05/04/15 01:09:15 PM
#421974   MW could/would never say anything but! Boris the Spider 05/04/15 01:04:04 PM
#421972   Rockie you're not getting it. Ok, say AaronTrainer 05/04/15 12:56:22 PM
#421971   I was at the meeting and the BOD rockie101 05/04/15 12:41:06 PM
#421970   I'm pretty sure he stated that after his AaronTrainer 05/04/15 12:30:34 PM
#421969   hold on let me check something... JB3136 05/04/15 12:30:30 PM
#421968   If you know what was on the snack AaronTrainer 05/04/15 12:27:17 PM
#421967   I'm just saying you can post most anything rockie101 05/04/15 12:26:47 PM
#421966   BBANBOB, Not yet, the new guys need to get UncleBo 05/04/15 12:25:32 PM
#421965   Yes, he does - were you at the UncleBo 05/04/15 12:21:18 PM
#421964   I see nothing that indicates it wasn't true. JB3136 05/04/15 12:21:16 PM
#421963   Any body ( you or myself )could say rockie101 05/04/15 12:19:10 PM
#421962   That poster - LiquidAfternoon, over on Boardpost AaronTrainer 05/04/15 12:01:48 PM
#421961   Sadly I think you're right. I have few AaronTrainer 05/04/15 11:56:18 AM
#421960   agree, have yet to see any solid proof JB3136 05/04/15 11:53:12 AM
#421959   Do you have a link to him saying duder54 05/04/15 11:52:52 AM
#421958   Can someone sticky the 8K filing? Thank you. dennyduper 05/04/15 11:52:52 AM
#421957   "No" has only been the correct answer 100% AaronTrainer 05/04/15 11:47:13 AM
PostSubject