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WMIH Corp. (WMIH)

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Last Post: 7/28/2015 1:30:29 AM - Followers: 1475 - Board type: Free - Posts Today: 14

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: Company Updates and Special Profile 07/22/2015 07:00:00 AM
WMIH News: Current Report Filing (8-k) 07/13/2015 05:02:00 PM
WMIH News: Securities Registration Statement (simplified Form) (s-3) 07/01/2015 05:10:35 PM
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
PostSubject
#429706  Sticky Note WMI Bankruptcy Docket and WMI POR 7 is NON-FICTION... bkshadow 07/21/15 12:29:49 PM
#416464  Sticky Note KKR Preferred deal jhdf51 03/09/15 05:29:07 PM
#410501  Sticky Note Would someone please put this past Fridays news t1215s 12/22/14 06:50:03 AM
#397110  Sticky Note WaMu Seesaws On M&A Speculation BlueeFoxx 03/24/14 04:17:07 PM
#430513   Well said Cass! Great to hear about your Soldier Of Fortune 07/28/15 01:30:29 AM
#430512   Stay healthy..it will come. jhdf51 07/28/15 01:26:47 AM
#430511   cassiecasa, thanks for you wise comments:) intuitive3 07/28/15 01:16:27 AM
#430510   No matter what has been posted...looks like we rockie101 07/28/15 12:59:51 AM
#430509   ***Evintos***HERE is to the INFAMOUS KMART PRINCIPLE*** Large Green 07/28/15 12:44:29 AM
#430508   i dont know exactly the answers to 2 fredmiller1999 07/28/15 12:28:04 AM
#430507   So sucks that we may not live to creyno58 07/28/15 12:25:58 AM
#430506   Thank you! AM in good shape except for fwh3334zeke 07/28/15 12:17:30 AM
#430505   Zeke I hope you live to see the creyno58 07/28/15 12:13:53 AM
#430504   I'll be 70 and dead. creyno58 07/28/15 12:08:28 AM
#430503   JusticeWillwin Let me say your posts were very interesting thenurseisback 07/28/15 12:08:25 AM
#430502   My father was Anthony Casamento, Congressional Medal of cassiecasa 07/28/15 12:06:16 AM
#430501   if this turns out to be a 20 fredmiller1999 07/28/15 12:01:07 AM
#430500   If I remember correctly P's got 40 to fwh3334zeke 07/28/15 12:00:58 AM
#430499   Fair and reasonable? The value I received from creyno58 07/27/15 11:54:38 PM
#430498   well I want what is coming to me fwh3334zeke 07/27/15 11:54:01 PM
#430497   If we gonna get escrow money when I'm wamugold 07/27/15 11:46:05 PM
#430496   Yes, bond holders & employee claims, but I fwh3334zeke 07/27/15 11:36:34 PM
#430495   Could it all be just a part of investorhub123 07/27/15 11:36:04 PM
#430494   We still have them because WMILT is still Evintos 07/27/15 11:05:56 PM
#430493   Susman does not represent equity anymore because the Rico Sworevey 07/27/15 10:59:15 PM
#430492   Bottom line all parties to this crime were Soldier Of Fortune 07/27/15 10:57:43 PM
#430491   Most everyone here owns some escrows don't you zeus_0100 07/27/15 10:53:21 PM
#430490   So if no money is coming for escrows, Rico Sworevey 07/27/15 10:51:55 PM
#430489   We have been on the same page for Bizreader 07/27/15 10:50:37 PM
#430488   And why is the FDIC not released? Things that investorhub123 07/27/15 10:50:02 PM
#430487   we need to redefine the corrupt, the perpetrators Jestiron 07/27/15 10:42:05 PM
#430486   Thank you Jestiron. Getting down to the bones Bizreader 07/27/15 10:29:00 PM
#430485   Amen Bizreader. Great post! -Jest Jestiron 07/27/15 10:23:23 PM
#430484   Agree just like our treasonous politicians. creyno58 07/27/15 10:17:54 PM
#430483   JWW, well done!:) intuitive3 07/27/15 10:16:19 PM
#430482   I'm in guns blazing. creyno58 07/27/15 10:14:27 PM
#430481   Hope we are still alive, the way this fuller11 07/27/15 10:14:12 PM
#430480   Great DD JWW. Thank you. xoom 07/27/15 10:03:27 PM
#430479   IF in fact, our board naysayers are correct, Bizreader 07/27/15 10:01:59 PM
#430478   I OWN OVER 10 BILLION ESCROW SHARES!!!.......see how hotmeat 07/27/15 09:46:05 PM
#430477   BK; "Why would anyone release with such clear evidence PickStocks 07/27/15 09:44:29 PM
#430476   why would S&G (not to mention Willingham) push Jestiron 07/27/15 09:36:16 PM
#430475   Let us all know what suckman says or PickStocks 07/27/15 09:32:13 PM
#430474   Looking for this to end so we can PickStocks 07/27/15 09:30:18 PM
#430473   Diamond, I have plenty of escrows, and as zeus_0100 07/27/15 08:46:51 PM
#430472   It's like the debate: God or no God, Bizreader 07/27/15 08:25:05 PM
#430471   pyramid let us know what they say Donotunderstand 07/27/15 08:21:39 PM
#430469   Looking forward for WM finding more gems, like fwh3334zeke 07/27/15 07:54:01 PM
#430468   Looking forward for WM finding more gems, like fwh3334zeke 07/27/15 07:54:00 PM
#430467   Then my only satisfaction will be to see creyno58 07/27/15 07:49:58 PM
#430466   This was a "Negative Good Will" purchase, (2 hotmeat 07/27/15 07:49:02 PM
#430465   You obviously misinterpreted the intent of my post hotmeat 07/27/15 07:43:10 PM
#430464   They bought the whole bank for 1.89 billion PickStocks 07/27/15 07:37:39 PM
#430463   Meat, Absolutely good question. EXDIMER 07/27/15 07:28:58 PM
PostSubject