Washington Mutual Preferred fka WAMPQ

[MasterBlastr]

I don't know. No. This is a very different situation than Wamu. No similarities at all.

[smrtinvstr]

Do you see parallels between then and now? Would you buy Signature bank or SVG group preferreds when they start trading again now that they will be filing for bankruptcy?

[MasterBlastr]

Depends on when you bought it. If you bought after the record date, you got nothing.

[smrtinvstr]

I'm confused with your reply. In the chart you posted from 2012, the WAMPQ was trading at 2.50 on the last day of the trading. Assuming you bought at that price say 100 shares (total investment of $250) and you held it through conversion (what was the conversion ratio - for 100 shares how many shares of COOP did you receive?)

[MasterBlastr]

WAMPQ, no contest. I never had WAMUQ (commons).

[MasterBlastr]

There was a record date for the conversion which was some time before the trading actually stopped. You could not have bought the day before and get anything.

[smrtinvstr]

Another q: Since you had 3 classes of securities - which security had a better distribution, risk /reqrd - looking back at your experience, if you were to do it all over again, which 1 security would you buy after the petition?

[smrtinvstr]

Thank you for sharing your WAMU experience. You posted the chart for WAMPQ and I believe it stopped trading around 2.50 and it closed the prior day say around 5. If you had bought 100 shares at 5 and given what you said about the distribution in new COOP shares, your original investment of $500 in 2012 would be worth how much say in 2015? or 2016? whatever you can recollect from your experience.

I believe we are staring at a similar opportunity at these regional banks this year and would like to build a speculative portfolio of these preferred shares based on what I can gather with what happened with WAMU and others.

Thanks!

[MasterBlastr]

There were shares in the new Mr. Cooper COOP distributed to the holders of all 3 flavors securities, WAMUQ, WAMKQ, WAMPQ with conversion factors for each. And what amounts to litigation tracking warrants, through which further distributions, if any, may be awarded. If you had held to your COOP shares they did increase by roughly 400% since they were awarded. Really was a pretty good outcome generally for the post-petition holders. Pre-petition, not as good, but it was something. I am still looking forward to the end of the Wamu saga. The FDIC still has the seized assets, supposedly. Could be a little, could be a whole lot. But I am just going to keep living life in the meantime, and not pay too much attention to it anymore. I was 51 years old when the whole Wamu saga started. I am now 65.

As far as distressed bond investing, DD is a must, otherwise you will have to depend on being lucky. YMMV greatly. Think first about getting involved in something that involves litigation and ends up taking much, much longer than you ever would have imagined. I made some good trades early after the seizure so it was worth my while. I do not regret my Wamu experience. It was an interesting sideline thing that was going on while I was doing other things. Whatever I get now from Wamu will be gravy, and hopefully I can enjoy some of the fruits, otherwise leave it to my heir(s).

If you have any other questions. please post. Good Luck whatever you decide what you do.

[smrtinvstr]

Did WAMU preferred shareholders get anything after 2012? New security? Warrants, anything?

[smrtinvstr]

Thanks for taking a walk in the memory lane on WAMU. The reason I posted the q on this board is because i see lot of parallels between then and now and was wondering if there is an investment opportunity.

If you buy the preferred of these embattled regional bank stocks now (like First Republic, PacWest, SVB, Signature, etc.) .......is there money to be made if you hold it through the crisis. What lessons learned from 2008 crisis can be applied now?

[MasterBlastr]

I can get end-of-month prices of WAMPQ from my brokerage statements.

10/31/11 - $23.95
11/20/11 - $21.93
12/21/11 - $19.00
01/31/12 - $9.95

No quote for February - in my Fidelity account WAPMQ was 'Journaled' on 02/03/2012. My Etrade shows tendered on 03/23/2012. I don't know what the difference in dates between the two accounts means. I did not buy WAMPQ in March 2012, or any other time in 2012. I had owned WAMPQ from some time before Oct 2011 and held all the way through the conversion to my markers in early 2012 (which are gone now), though my ownership is still traceable I would expect. Hope this helps, if you have any other questions, please post.

[MasterBlastr]

Wow. I had both WAMPQ and WAMKQ - All I can find now is WAMPQ stopped trading Mar 20, 2012, closed at $2.84 on that day. This website shows price history from Mar 7-20, 2012. The calendar is broken on this webpage, unfortunately, so you can't bring up more history.

https://www.eoddata.com/stockquote/OTCBB/WAMPQ.htm

I can look back at my old brokerage statements, give me a day or two.

[smrtinvstr]

What is the price history of WAMU Proffered shares after 2012? Thanks

[smrtinvstr]

Any one who bought WAMU Preferred (WAMPQ) in 2012 can share what happened to those sharess price history?

[VivaLasVegas]

Thank you…did well on the COOP so it is all good.

Rest are all gravy if the parlay comes through

[MasterBlastr]

New theories are becoming scarcer but we are still talking about it. Have you gone to boardpost.net - its where everyone who got kicked off the Ghost board went. I don't know if the Ghost board is even around anymore. Not that it mattered anyway.

[MrchntDeth]

Any Escrow Share News?

Yes, they are completely worthless. They were placeholders in the event that there was some major discovery of hidden assets. No such discovery was made prior to the date this bankruptcy ended, and thus, there weren't the billions upon billions of "extra, free dollars" in value that the Escrow share bag-holders were expecting/hoping would flow down to them. There weren't. So there won't be.

Sorry to break it to you, but that's the hard cheese re: the Escrow shares. I'd tell you to write them off on your taxes but whatever losses you had were already baked into the common shares that pretty much got obliterated. Hope that you took whatever losses back when you were able to.

Please note that commons weren't the only securities receiving these escrow shares? I received a number of escrow shares (aka "placeholder shares" on my WAMPQ shares. They still sit in my brokerage accounts. Luckily, I made some good money of the regular preferred's, but the "fulcrum" securities were the PIERS (WAHUQ) shares; anyone buying these in the single lower digits made bank on this (no pun intended) investment.

Quite frankly, I was leaning more heavily in the regular preferred and the DIMEQ Wts., but held the H PIERS as my hedge. So glad that I hedged this out-of-control dumpster fire.

GLTA

[VivaLasVegas]

Any Escrow Share News?

[vodkadejour]

It'll only come to an end if/when we get paid. If we don't get paid, it'll never end. I honestly believe people would stay posting for the next 10-20 years with hopes and theories. That may seem ludicrous, but it's already been 14 years, so clearly the precedent has been set.

Personally I'm waiting until my crypto makes me a millionaire before I lose all interest here. Crypto turned my $50K investment 18 months ago, into $300K. Once that investment turns to $1M, I really couldn't care about wamu anymore.

Good luck everyone!

[hotmeat]

No problem.

I definitely agree it's not worth the grief.

Cant wait for it to come to an end tbh

[rootroll]

continuity thank you very much. Over all, the assertion "Washington Mutual Inc. has reorganized to Washington Mutual Holding Inc. WITH SHAREHOLDERS INTACT" is meaningful?. thank you again.

[continuity]

rootroll, WMI became WMIH which became COOP. More information here... https://investorshub.advfn.com/Mr-Cooper-Group-Inc-COOP-11133/

[rootroll]

does now wamuq stock worths something?

[continuity]

Whenever a new message pops up

[hexson]

Does anyone check this board anymore?

[fwh3334zeke]

Mis-information, check I-hub's own numbers==891K buy==127K hold, 83K sell, check it out yourself if you know how.

[ReikoBlack]

BkShadow -

I believe that this is the document where fwh3334zeke is getting the "151 Billion" figure from.

https://www.fdic.gov/bank/individual/failed/wamu_settlement.html

Scroll down and click on...

WAMU Quarterly Receivership Balance Sheet Summary



Proven Deposit Claims Claim Balance

FDIC Subrogated Claim $ 151,150,664


I know, i know...fwh3334zeke is misinterpreting it.

[MasterBlastr]

The only thing I can think of is find a group who also did not give their releases and see if there is some class action or litigation that those who did not give releases, may be pursuing.

[tehepidemick]

Thank you for your answer. It was quite a while ago and I remember most of it.

The reason I ask is on Aug. 3rd i received 14 shares of wmih and $33.40ish. I was told it was for the place marker related to the WAMPQ's(939ESC992).

If you happen to know this one would be awesome.

So the wya the voting happened was a joke. I owned 140k shares of WAMUQ and the time of the vote, signed off on the release, and TDAmeriTrade never received my ballot. Is there anything that can be done with those? Also 170 WAMPQ I had did not convert and were also taken away. Anything with those.

Thanks for your help man.

[GO4AWILDRIDE]

You obviously signed off on the releases so you received your escrow markers.

Of course this happened over three (3) years ago and you are now just finding this out?

The reorganized company WMIH emerged from the bankruptcy so you also should have received approximately 4000 (slightly less) new company shares as well.

You don't mention that fact so I can only assume you either sold them off 3 years ago or they are still in your account.

As far as the escrow markers only time (how long is anyone's guess) will determine the value of those markers.

The PIERS (WAHUQ's) are approximately 50 MILLION from being paid off then and only then will $$$$$ if any flow to our escrow markers.


GO4AWILDRIDE

[tehepidemick]

I owned 200 shares of wampq, now showing as 939ESC992 in TDAmeriTrade.

Are these worthless now?

[MasterBlastr]

GTGTQ is headed to zero as equity has fallen below the mark where shareholders would get paid.

[Major_Bankz]

who will acquire what? WAMPQ is a LT now.

[gold-nugget]

No acquisition will occur until after mar 20. They can announce an acquisition but CLOSING will occur no earlier than mar 20. This protects the ownership irs rule that is in place. And it makes sure the company has all the t's crossed and I'd dotted. Business law.

[MasterBlastr]

So $3000 per old P recovery is being bantered about, I hear. Yeehaw, if that's the case.

[gold-nugget]

Go wammmmuuuuuu

[fsshon]

hello

[GO4AWILDRIDE]

TO ALL

I posted this on the WAHUQ board a few minutes ago.


Just received in the mail a document from the LTI.

Few things to mention:

Address was:

Washington Mutual, Inc.
c/o KCC
2335 Alaska Ave
El Segundo, CA 90245

Document was a motion to pay off in Tranche 4

(Certain De Minimis Liquidation Trust Interests)

It was described as paying off in the amount of $89,763.54 in order to save $100,000 to $200,000 in adminstration costs.

Seems reasonable,BUT WHEN HAS THE LTI EVER BEEN REASONABLE?

It appears that the max payment would be $500 and most would be less than $50

The benefit to the higher Tranche 4 claimants would be the savings in the cost to not continue having the lower Tranche 4 hang around.

Lower Tranche 4 MINIMIS claimants were listed as a hodgepodge of claimants.

Objections must be posted by December 2 and if any the hearing would be on December 11.

Anyone else get this notice?



GO4AWILDRIDE

[fixedops]

Go4
Even though stocks stop, the boards remain indefinitely. Ihub wont kill it.

[RICOsuave]

I have many boards from companies that don't exist, yet when things come up, especially legal issues, it is nice to have that little indicator in my favorites that I should probably read it.

don't bury evidence.

[GO4AWILDRIDE]

OTHER MOD's

Is it time to dump this board as P's no longer exist?


GO4AWILDRIDE

[onco]

haa onyone valued the company ,now that is out of bankrupt status?? just wondering seems like it would have a market cap over the approximate 200 mil it has know

[skyskrape]

Those were the calculations I was working on aswell. Numbers were just about right as withcats post!!

Viva wamu!!

[zulual]

That is what I was thinking as well.
I was guessing how to divide 5M new prfd shares to old prfd holders.

[WithCatz]

Conversion Ratios - Old Equity into WMI Holdings Commons

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73851131


..Catz

{Mods, please sticky}

[MasterBlastr]

I wasn't responding to you . . .

[NASCOW]

OK I reworded it....NewCo Shares bought from now on will NOT partake in any future litigated or found assets from Liquidating Trust - that is why pre-emergence shareholders are also set up with "ESCROW" accts showing the number of pre conversion shares which will determine how you are possibly compensated, as indicated by certain people in the know...under IRS law The NOL's will take a few years / some time for us to fully utilize our fruit

[Rumble]

You will still use your original purchase date and price to calculate your gain or loss. It the accounting world we call it, your holding period tacks onto the new security. In short, yes, it sounds like you will still have a long term capital gain or loss.

[mm1969]

No problem. By "start over" I meant do we start over as short term gains do to the fact that it's a new company or do we get to go by our original purchase date from the previous company and they are still considered a long term gain if purchased more than a year ago.