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YET YOU ARE RIGHT HERE AS WELL
Now what does that tell you?????????????????????
We see a good chance of something coming back so that is our reasoning.
YOU SEE NO CHANCE OF ANYTHING COMING BACK so WHAT IS YOUR REASONING
Payday is near?
If that is the case, then I am now asking the banks to make an offer for a bridging loan. My "collateral", the exact number of my escrows is known to you, should be enough for a 10-20% charge. Since the interest rates have risen again, that would be a good deal for you, or not? Repayment then with disbursement of the Escrows. Expect your offers by boardmail. Be nice, it's Christmas soon.
Maybe you are right. But in the last 8 years of your predictions escrow markers have been in the accounts. Only since this year 2022 escrows have been deleted. So if something will happen, it will happen soon. Otherwise if nothing happens in 2023, I agree with you that the "party" is over.
No, it will mean they will never close it. But when we sit here without any payment come March 2023, someone will find a post by fdic leading that person or persons to come up with the idea that we finally get paid iDecember 31, 2023, and EVERYONE will stay right here continuing to post. Then that process will repeat the following year.
I told you all this like 8 years ago, and every year it repeats.
Stox
EVEN IF IF IF they ink and approve some type of deal on DEC 31rst @ 11:59:59, it may be days before we hear about it, JUST LIKE WITH THE WMILT was closed at the time and we didn't even hear about it until like JAN 10-15th of 2023.
Nothing happens fast in the legal world or the world of HIGH FINANCE
Heck it took DB almost 2 yrs to distribute the 65 bill $$$$$$$$ that was in question that they held after the case was closed so one has to have patience in these type legal financial things
Hope so...But I am giving them even more time, till Tax Date 2023. IF nothing happens by Tax Date 2023, then it means that FDIC-R doesn't care anything about WMI-LT closing that was filed December 2021 and pretty much it will mean that FDIC-R can take another 14 years to 'Close WaMu Receivership'...
National Pearl Harbor Remembrance Day, DEC. 7th ++++
R.I.P.
Thank You
I don't see WAMU! Hopefully by end of year!
If you do not care, why bother about Chuck or Doreen ,why bother me in responding to my posts which are immaterial to you?.
"Receiverships have ceased to exist as legal entities.",interesting.
Thank you ND. Is this us? Does this push us closer?
JHD
ron_66271, you are always welcome and thanks for all you do.
ND9
Thanks As Always ND9.
“The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.”
The process;
Resolution of the books.
Fulfill obligations.
Dividend Distributions.
Close the Receivership.
Ron
12/6/2022 Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 12/06/2022
Notice of Termination of Receiverships
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Fund Receivership name City State Termination date
10005 ANB Financial, NA Bentonville AR12/01/2022
10012 Integrity Bank Alpharetta GA 12/01/2022
10037 Corn Belt Bank & Trust Company Pittsfield IL 12/01/2022
10061 Bankunited, FSB Coral Gables FL 12/01/2022
10131 Hillcrest Bank Florida Naples FL 12/01/2022
10220 Citizens Bank & Trust Company of Chicago Chicago IL 12/01/2022
10330 The Bank of Asheville Asheville NC 12/01/2022
10336 American Trust Bank Roswell GA12/01/2022
10531 THE Enloe State Bank Cooper TX 12/01/2022
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(
Authority:12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on December 1, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-26505 Filed 12-5-22; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2022/12/06/2022-26505/notice-of-termination-of-receiverships
How is this relevant to WMI…..it is not….
Think doesn't look good for coop 2023 sell now get out come back on 8/2023 before you loose all your money. And if you are waiting for wmih you have to wait another 14 years don't let the people on bord bullshit you.
With some 10,000 OPTION placed on the stock at 35$ I'll suggest it might not be range bound until mid JAN when those options expire JUST MY WAG
Yep...hoping 2023 drives this stock because it has been range bound for a long while...
JHD
"...that's going to drive our stock SIGNIFICANTLY"
Jay Bray said at the Barclays Global Financial Services Conference on September 13, 2022, starting at around 26:30...
change for the sake of change. continually efforts to make things worse.
"Job Security", I guess...
I do not care….as far as I am concern the WMILT is done…..nothing will come back from the WMILT
10 years from now you will still claim they are working for the WMILT
Why does the format of the posts keep changing?
Why fix something that's not broken.
Every second day now, a new look to the board-I hub bored?
COOP expecting $550-$600 MILLION servicing pretax operating income during 2023
8-K from 11/07/2022:
https://www.sec.gov/ix?doc=/Archives/edgar/data/933136/000115752322001538/a52962238.htm
Call WMILT 206-661-2310 ,check and Paladin too.You can email them too.
They all gone where?.
https://www.linkedin.com/in/doreen-logan-33290953?original_referer=https%3A%2F%2Fwww.google.com%2F
https://www.linkedin.com/in/charles-smith-b4179129
Riding the waves or whales?.
https://www.linkedin.com/in/douglas-southard-234602a0
No matter how you slice it, it will be irrelevant in the only way it matters.
I am sure the people administering the WMILT know how to close out….they have long gone and nothing is left….
Nothing to do with escrows distribution at all….
There has been back and forth but the main case is a group called Libor8 and a decision is due from Judge any day.
Poster hold who is the subject matter expert on this over on BP says Libor8 is what we are concerned with and the other Libor actions is of no interest.
This Judge has given the FDIC a third attempt to get their facts straight but may throw entire case out by end of year which she did previously but this time there will be no appeal allowed
It seems to me the Judge has been calendar posturing to beget close to end of year for her final opinion so we should soon find out
Xxx
LG, So did this Judge Rule by now yet? TIA & GLTU!
=====================================================
"3491 08/29/2022 LETTER MOTION for Extension of Time Motion to Compel custodians and search terms with respect to Upstream Issues addressed to Judge Naomi Reice Buchwald from James R. Martin dated 8/29/2022."
====================================================
Chuck smith done and gone
Quote: “remaining steps to close a trust are: none”. This is done….
"3) WMILT advised us ministerial details would be finished on 3/31/2022 or before"
How to Close a Trust After Administration
https://pennyborn.com/trustadministration/howtoendatrust.html
This article provides instructions on how to close a trust. Before closing or dissolving a trust, the trustee must complete all steps in the trust administration process. This includes paying all financial obligations, distributing trust property to beneficiaries, filing final tax returns, and providing a final Trust Accounting. In order for a trust to end, all debts must be paid and all trust property must be distributed.
After the trustee has completed all actions required to administer a trust and there are no remaining assets in the trust except sufficient funds to pay any final expenses, the trustee may close the trust. The first step in determining how to close a trust is to review the trust document thoroughly. If the trust document contains any provisions regarding closing the trust, the trustee should comply with those provisions.
The remaining steps to close a trust are:
MORE:
Of course the massive buybacks (COOP already bought 25% of their common stock if not even more up to now) have an impact on the EPS. Each share will have higher earnings than without the buybacks. And one day the higher earnings will have an impact on the PPS.
COOP cannot be kept down forever IMO!
Shorts will be toast one day...
You now "think" it MAY be 2023
??
Reading COOP's 8K Filing - HUGE CLUE (3rd-Party Capital) THAT LEADS TO DISTRIBUTIONS
Especially Considering the Timing
Remember, WMI NOT to be confused with WMILT became a (DST) Delaware Statutory Trust around 3/8/2012 then became effective on the (ED) Effective Date of March 19, 2012
8-k filed by Mr. Cooper Group on November 07, 2022:
Working with an anonymous source
https://www.otcmarkets.com/filing/html?id=16179688&guid=66_-kKqjA3qmB3h
Last PDF page:
“ MSR yields approaching distressed levels - sizeable growth opportunity in connection with third-party capital”
_________
MY VIEW:
Guess who Mr. Cooper is referring to when mentioning “third-party capital”?
IMO…it is WMI and its $625+ billion in assets that is referred to as “third-party capital”
WMI recoveries will be distributed to legacy WMI shareholders when the time is right…
I think Mr. Cooper Group is signaling to the big players, that the “sizeable growth opportunity in connection with third-party capital” will start in 2023.
Xxx
CERTAIN PLAYERS NOT RELEASED...WHY...MONEY HAS NOT FLOWED YET...ONCE RELEASED BIG MONEY FLOWS...
newflow, more great information direct from the filings. The highlighted information in red should tell an investor until the Powers-That-Be are finally released, then and only then will this be over but once they are released then LARGE GREEN is transferred to those investors who signed timely releases by March of the year 2012.
ALSO NOTE - February 23, 2012 was when the court completely signed off on Amended POR 7
http://www.sidedraught.com/stocks/WashingtonMutual/Abandon%20Equity%20Interest%20in%20Wamu/mm03-2312_8ke991.htm
intangible property to the Washington State Department of Revenue where the last known address of the holder is in the State of Washington.
PLEASE TAKE FURTHER NOTICE that, on the date hereof and pursuant hereto, (i) WMI and its chapter 11 estate hereby abandon their equity interests in the WMB Stock and hereby surrender and relinquish all right, title and interest to the WMB Stock, including any recovery rights and/or litigation claims with respect thereto; provided, however, for the avoidance of doubt, WMI and its chapter 11 estate do not hereby withdraw or release any claims asserted by WMI as a creditor of WMB against FDIC, in its capacity as receiver for WMB or in its corporate capacity, on account of WMI’s status as a creditor, and do not withdraw or release any rights under the Global Settlement Agreement, (ii) all references to ownership of the WMB Stock shall be stricken from WMI’s and its chapter 11 estate’s books and records, and (iii) the stock certificate representing the shares of common stock of WMB having been lost or misplaced, WMI has caused an affidavit with respect to the lost or misplaced stock certificate representing shares of common stock of WMB to be delivered to WMB, and, in accordance with RCW 63.29.170, a copy of such affidavit together with a copy of this Notice will be served by registered first class mail to the Washington State Department of Revenue.
Dated: March 16, 2012
Seattle, Washington
WASHINGTON MUTUAL, INC.
Date
By:
/s/ Charles Edward Smith
Name: Charles Edward Smith
Title: General Counsel
xxx
Reading The All Important Tea Leaves-Why I Say Distributions and/or an acknowledgement of same in the Year 2022
1) WMILT Canceled and NOT dissolved on 12/31/2021 which leads me to believe distributions by end of 12/31/2022
2) Distributions may be connected to ending Libor which looks to be in year 2022
3) WMILT advised us ministerial details would be finished on 3/31/2022 or before
4) I still believe the trigger for distributions and/or acknowledgement of same started with a PROCESS and PROCEDURE EVENT of WMILT being canceled on 12/31/2021 and NOT DISSOLVED
5) Only time passing and filings will show us the way forward
_______________________________________________
Quote from: hold2wm on Yesterday at 01:41:39 PM
3491 08/29/2022 LETTER MOTION for Extension of Time Motion to Compel custodians and search terms with respect to Upstream Issues addressed to Judge Naomi Reice Buchwald from James R. Martin dated 8/29/2022. Document filed by FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver, The Federal Home Loan Mortgage Corporation.
FDIC as a receiver and the FHLMC submitted a supplemental extension. Yes its a delay tactic to push the judge ruling closer to year-end, their target timeline IMO. Don't expect to see a ruling in September could be October.
__________________________________________________
Quote from: tako11 on Today at 09:18:21 AM
I did not change my opinion of a recovery coming our way but I wanted us to focus on COOP where that recovery resides
Folks MOR3 numbers had been implemented in COOP and the picture started to be more clear. Also the source prediction is true and alive except the actual recovery value is not what we expect but far less
If you wanted to know our recovery don’t go further than looking into COOP numbers and compare it to the info at MOR3 especially WMIIC balance sheet you will be able to solve the puzzle and you figure out the way they used to return our assets
_________________________________________________
From Large Green:
ACTIONS AND FACTS ARE TELLING SO LOOK FOR 10 Million COOP Preferred Shares to be Used VERY SOON in my view PLUS other financial actions
1) On the (ED) Effective Date of 3/19/2012, WMIH/COOP Emerged From the WaMu Chapter Eleven with Fresh-Start accounting in place
2) This included ten million preferred shares that were shelf-ready and AUTHORIZED AND ARE CURRENT
3) During the month/year of 10/2018, a Reverse Split took the COOP common shares down to shelf ready and authorized to 300 million of which roughly 230 million are available for immediate use, and preferred stayed at ten million authorized and shelf-ready-NEVER USED...YET
4) So, what would a shell company like WMIH with NO INCOME STREAM at the time and NO business need ten million shelf-ready preferred shares for when the 300 Billion plus WaMu conglomerate only had a total of 7.5 million preferred shares period
5) It is very possible we see COOP ten million authorized shares come into play before the end of the year 2022
xxx
Ok….info distribution coming but not for WMI old escrows….still more bad information or misinformation coming…
Will this impact the pps….could be like the previous repurchase there will be no impact….is there another entity like kkr to buy the shares back…..maybe they will buy back the boards shares and retire those…
Same crap different day. Kinda like my farm.
JHD
who owns the "estate"......many have posted that shareholders "own the estate " after WMIH came out of chapter 11... think again... Lodas
https://www.minutebox.com/blog/2018-10-30-do-shareholders-of-a-corporation-own-the-property-of-a-corporation
COOP has $268 MILLION AUTHORIZED to REPURCHASE another ~6 million shares at the current PPS.
See: https://www.sec.gov/ix?doc=/Archives/edgar/data/933136/000115752322001397/a52953661.htm
They already bought back ~25% of their common stock.
where does he say PAYOUT ?????
but way to much info Distribution is on December 9th
Geeeeez
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Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies.
Upon completion of the merger between WMIH Corp. and Nationstar Mortgage Holdings Inc. on July 31, 2018, WMIH became the parent company of the Nationstar Mortgage Holdings Inc. family including Mr. Cooper (Nationstar Mortgage LLC, d/b/a Mr. Cooper), Xome and Champion Mortgage (Nationstar Mortgage LLC d/b/a Champion).
As of October 10, 2018, Mr. Cooper Group Inc. is the new name of WMIH Corp. On July 31, 2018, WMIH, now Mr. Cooper Group, became the parent company of the Nationstar Mortgage Holdings Inc. family including Mr. Cooper (Nationstar Mortgage LLC, d/b/a Mr. Cooper) and Xome.
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. Washington Mutual Inc. has reorganized to Washington Mutual Holding Inc. WITH SHAREHOLDERS INTACT
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