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WMIH Corp. (WMIH)

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Last Post: 12/14/2017 12:00:50 PM - Followers: 1573 - Board type: Free - Posts Today: 91


WMI Holdings Corp and WMI Liquidating Trust iHub Message Board   

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


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
WMI Equity Escrow Calculator

 
Mar 24, 2015 Press
Release
WMI Liquidating Trust - "WMI Liquidating Trust Provides Information On Escrow CUSIPs"
http://www.prnewswire.com/news-releases/wmi-liquidating-trust-provides-information-on-escrow-cusips-300055333.html


Quote Germany

http://quotes.wsj.com/DE/XMUN/07W?mod=DNH_S_cq

http://quotes.wsj.com/DE/XBER/07W





 
SEC Filings for WMIH  
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WMIH News: WMIH Corp. Announces Amendment of Series B Preferred Stock Terms 12/11/2017 08:44:00 AM
WMIH News: WMIH Corp. Announces Receipt of Nasdaq Minimum Bid Price Notification 11/16/2017 04:30:00 PM
WMIH News: WMIH Corp. Announces Redemption Of Senior Second Lien Runoff Note 10/03/2017 08:00:00 AM
WMIH News: Current Report Filing (8-k) 09/08/2017 04:17:15 PM
WMIH News: Current Report Filing (8-k) 08/21/2017 04:17:05 PM
PostSubject
#500080  Sticky Note 2/12/2017 Conference Call Webinar Archive Evintos 12/12/17 11:13:49 PM
#469354  Sticky Note Ok, GO4AW, here you have the best collection muyuan51 12/27/16 08:25:19 AM
#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
#490701   Go away, you are not helpful JB3136 10/05/17 03:26:00 PM
#490700   if thats the case why spend so much Yanik 10/05/17 03:25:07 PM
#490699   This is the time to buy to get donfig47 10/05/17 03:24:15 PM
#490698   KKR bought WAMU when it was worth zero. Pocket9s 10/05/17 03:23:23 PM
#490697   Better cover that short, # of days to fwh3334zeke 10/05/17 03:23:19 PM
#490696   SEC soon going to move in on this SCAM REALtime64 10/05/17 03:20:39 PM
#490695   why would anyone buy this worthless no value REALtime64 10/05/17 03:20:06 PM
#490694   Don't they have members on the WMIH BOD JB3136 10/05/17 03:16:03 PM
#490693   That was stupid u should buy low sell wamugold 10/05/17 03:06:12 PM
#490692   The bank was not bailed out, it was up and up 10/05/17 03:05:03 PM
#490691   As long as Kosturos is The Treasurer and MONICALAW 10/05/17 03:04:29 PM
#490690   Its just business. Period. All the whining on Pocket9s 10/05/17 03:01:45 PM
#490686   Who cares about the drop lately, nobody is garyhalvo 10/05/17 02:20:38 PM
#490685   "Change in Control" ron_66271 10/05/17 01:45:16 PM
#490684   Who thinks this will be all over this bond-007 10/05/17 01:44:28 PM
#490683   AZ, shouldnt there be an 8k filing by LuckyPanda 10/05/17 01:30:50 PM
#490682   PPS have been sky rocketing Zalviny 10/05/17 01:28:28 PM
#490681   -> AZ is Right <- ron_66271 10/05/17 01:21:43 PM
#490680   Volume is back to normal it appears, unless rwdutch 10/05/17 01:20:50 PM
#490679   Banks will be closed on Monday, October 9, ron_66271 10/05/17 01:20:11 PM
#490678   Azcowboy, I also bought some this morning. Nightdaytrader 10/05/17 01:17:45 PM
#490677   Thanks Azcowboy. I am still here too!! Nightdaytrader 10/05/17 01:15:25 PM
#490676   Ref: What agenda could the BOD have CBA09 10/05/17 01:13:57 PM
#490673   That's not happening. dennyduper 10/05/17 12:55:32 PM
#490672   or the market expects a corporate rate of 15% Donotunderstand 10/05/17 12:54:13 PM
#490671   KKR owes WMIH nothing. Pocket9s 10/05/17 12:38:53 PM
#490670   CBA09, What agenda could the BOD have johnheps 10/05/17 12:32:38 PM
#490669   There's no agenda. There are just some who ReikoBlack 10/05/17 12:31:32 PM
#490668   I have read all posts this morning. To fwh3334zeke 10/05/17 11:56:13 AM
#490667   AZ COWBOY & his D. D. Johnnyiwantsome 10/05/17 11:44:44 AM
#490666   Ax thanks for all your hard work. I dennyduper 10/05/17 11:20:54 AM
#490665   ~ Lodas, Well Done & Thank You ~ AZCowboy 10/05/17 11:11:35 AM
#490664   Do you have any idea why when they Roach58 10/05/17 11:10:20 AM
#490663   AZCowboy..... don't let them goad you into any lodas 10/05/17 11:02:29 AM
#490662   Yank..... I could not have said it better lodas 10/05/17 10:53:48 AM
#490661   disagree, if AZ were right this would be JB3136 10/05/17 10:50:57 AM
#490660   ~ Again, I Won't Argue ~ AZCowboy 10/05/17 10:50:19 AM
#490659   IMO yes, RSI completely oversold JusticeWillWin 10/05/17 10:49:20 AM
#490657   well we are trading @ .88 so the SweetGeorgiaBrown 10/05/17 10:46:01 AM
#490656   I have been here a long time and bond-007 10/05/17 10:43:22 AM
#490655   Bounce Time Or the Clay trader affect , the rwdutch 10/05/17 10:42:55 AM
#490653   ~ Thanks Bond' Yes, It Can Be Confusing ~ AZCowboy 10/05/17 10:39:22 AM
#490652   I remember this conversation on BP with sarge rwdutch 10/05/17 10:38:53 AM
#490651   Yanik, very good post...Thank you UncleBo 10/05/17 10:33:48 AM
#490650   You are confusing things here. The abandonment of JusticeWillWin 10/05/17 10:33:11 AM
#490649   IC what your saying! bond-007 10/05/17 10:32:44 AM
#490648   or they lawyered up an are renegotiating the BBANBOB 10/05/17 10:32:14 AM
#490647   AZ you claimed that WMIH's NOLs are gone. clawmann 10/05/17 10:31:56 AM
#490646   ~ Simply Separate the Issues' ~ AZCowboy 10/05/17 10:28:49 AM
#490645   That is not the question. Of course NOL's JusticeWillWin 10/05/17 10:24:21 AM
PostSubject