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You say XXXX is private but AZCowboy has implied that XXXX is a publicly traded company. Which one of you is full of it?
Are you bound to not say who XXXX is…just say who it is….have jumped on the AZ train…too funny
WMI already received their Libor settlement.. it was only in the millions and FDIC took it…
You just don’t like the information provided…lodas is a great guy….however you and the others have not proven him wrong…yet the ones with the false predictions are the ones you should question…,one question…where is the money….no more bs… bankruptcy and WMILT have all been shut down…so where is the money….67k per p’s 100’s of billions…. No where to be seen….
Lodas it is good to know things are well with you….
Have a look at LIBOR:
https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
Hope it means that LIBOR is complete, or nearly complete.
Completes the Derivative market Litigation.
Yes the LIBOR litigation is all about Banks like JPM that wrote the Derivative Insurance Contracts to cover the ABS/RMBS CERTS losses.
Very few understand what happened in 2008.
The Mortgage in Trusts that became Bonds were insured to cover losses.
WMI/WMB was not exposed to the Mortgage meltdown because their portfolio was insured.
Bear Sterns (sp) was a large investor in the ABS market. Therefore JPM needed to make larger derivatives insurance payments to BS, LEH F&F, and WaMu.
That’s why JPM acquired BS and WMB. JPM is going to pay themselves back.
Ron
#2; XXXX is Already Private.
COOP can’t go private because COOP has more than 500 shareholders.
XXXX has stakeholders, not shareholders.
Big difference!
XXXX is private and owns COOP.
Ron
I am fine Pickstocks...just lurking now as some have said that I seemed to be to "hot and heavy" with the negatives...my position has not changed that no recovery is coming for those who are still believers...thanks for your support all the while I was villified by some on this board.....good luck to you and all the members of the message board in all your endeavors, whatever paths you take.... Lodas
LG I agree and think the putting together of Northstar, COOP, Brookfield have already benn putting togethrer 75% BAM, BN owing 75% since the end of 22' has been putting Humpty Dumty back together again. Of course the nomal suspects of banks JPM C GS MS NYM TPG Truist etc will be involved. IMO. It has all been in process for a year. Announcement soon ??
https://seekingalpha.com/article/4609289-brookfield-asset-management-should-prosper-despite-brookfield-property-partners
U.S. Residents – Please refer to Canadian TaxInfo for a complete definition
For Canadian tax purposes, treaty benefits are only available to residents of the U.S. as defined in the
Canada – U.S. Treaty. In general, a U.S. resident includes any person who, under U.S. domestic tax law,
DTCC Public (White)
is subject to income tax in the United States by reason of domicile, residence, place of management,
place of incorporation or any other similar criteria. Canada – U.S. Treaty benefits are available to an
estate or trust, only to the extent that the income derived by such estate or trust is subject to income
tax in the United States either in its own right or that of its beneficiaries. In some circumstances, a U.S.
resident may not be entitled to claim treaty benefits by virtue of the application of the Limitation on
Benefits (LOB) article in the Canada – U.S. Treaty. Refer to Limitation on Benefits for more information.
https://www.dtcc.com/-/media/Files/pdf/2023/6/2/18589-23.pdf
So,
Milk duds and LG,
If,if,if the scenario you speak of was to happen, would there be any chance of interest payments to equity holders, specifically class 22?
Asking for a friend.. ;)
Windfall
PS
Seems that you are a protégé of Lodas. Birds of a feather flock together. You both have similar negative attitudes as far as possible future distributions are concerned. Of course you are under surveillance.
Whoa. I see old timers here. Good to see you.
COOP is a Subsidiary of XXXX.
Why not have XXXX issue new shares to released Class 22 holders and go public with going concern assets?
Liquidated assets distributions as cash.
The Subsidiary offerings shares to the owners of the Parent doesn’t even make sense regarding corporate structure.
Class 19’s claimants are satisfied with the Retained Earnings, plus applicable performance payments.
I’m expecting 4.6X for my Series R Preferred shares.
COOP is a sub of old WMI. Not old WMI!
Ron
ok, I really like Scenario #2 happening and I bet a lot of WaMu Escrow-holders will...But the main sticking points are:
1. Will FDIC & JPIG allow that to happen?
2. Who will run the BIG Private Co WMI? Will Jay Bray and crew from COOP be ok with relinquishing control / be satisfied with being 'Exec VPs' of the 'COOP -Servicing Subsidiary' of the Private Behemoth WMI?
Hopefully old P holders would get a stake in it.
JHD
That is really doubtful….you are making the same predictions you did with jc penny…with this month is over and nothing happens you will make up another possible event
Lodas has been a champ…..hoping everything is well with him….
Maybe, possibly. I hope he's OK and zeke, both were in their prime.
I think I accomplished what I wanted. It was to get everyone to at least consider an alternative action move.
Whether or not that happens and we all move forward on that, is another story.
I don't think I need to beat the drum anymore.
So I will calm down a bit and we will see what transpires in the next few weeks, month or two.
Glta
So, per #2, you are saying COOP could be taken 'private' by the WMI 'Estate owners(that includes us') - that would be pretty interesting but makes a lot of sense IF we are Really 'holding' a ton of Assets 'Hidden in plain view', courtesy of 'Safe Harbor' Rules afforded by Bankruptcy Law AND we would want to continue to "Keep Hiding' from the World-at-Large the Saga called "Grand THEFT WAMU"...
Oh, so you are saying Lodas was 'in on it' from the beginning? I am not sure, that's 'too much of a Stretch' for me to believe in...But as you know another old guy/SME called CBA09 too 'went silent'...So anything is possible with the $coundrels that we are dealing with...
The only filing that will come. Out is the one where shares were gifted to ceo, executives and family.
Yes...and preferred would greatly benefit with that move..
JHD
I think if and when the filing arrives showing coop issuing shares to those who signed timely releases by 3/2012, does it include value associated with the filing? Huge question!
1) My answer would be if coop issues shares they MUST show what they are buying and from who due to being a public traded company
2) Unless coop is being taken private by say a DST called WMI who is owned BENEFICIALLY by those investors who signed timely releases and because WMI is non-public, it does not have to file disclosures like public traded corporations.
Then there would be a premium to take private around $55.00 or $60.00 a share in my view which would be way undervalued in my view
3) The other potential action would be for coop to issue shares and a delayed filing showing what those shares are for which would temporarily sink the price of coop due to dilution however, to me, this would seem nefarious and bring a huge spotlight which we know they do not want
4) Personally, I hope for number two to happen as those investors who signed timely releases would be receiving value in the (coop) company taken private
…
It would seem that one should sell shares up here in the $50 range if it hits that and then buy back when the stock drops but as BBANBOB eluded to, you would probably never be able to get your position back, especially if it is a large one.
JHD
If no Escrow information is published in June, will you apologize for insinuating that Lodas has some kind of negative agenda?
Milk Duds, now that is a LARGE STYLE BINGO
Great assessment!
…
I have always thought one reason to "talk down" any recovery for escrows was to prevent people from buying more shares of COOP with their anticipated windfall from escrows.
If people knew their escrow shares would payoff bigtime, some people would invest even more in COOP. But as we all know, COOP has been purposely kept low, possibly for a merger, or as you say, for purchasing WMI assets with preferred, which would then convert to common at a low price point.
So, if the hedge funds are finished holding down the stock, there's no longer any need for someone to "talk down" the escrows. Hence, they stopped paying him; his "job" is finished.
https://bondholderliborsettlements.com/Content/Documents/Claim%20Form.pdf
page four of the claim form mentioned in my previous post can be seen here
Sorry about the images position but it would take me another few minutes to fix it ..., for those interested, the pictures can be clicked and opened and then printed or downloaded and rotated
Above is the response I received from Bondholder LIBOR Settlements a few days ago, Im trying to fix my claim, whether my claim is only deficient (as clearly shown by the above document) or also not eligible, I dont know
Im not sure, but I filled up section D of my claim two times (as I used page four of the claim form two times), and I think that was what rendered my claim deficient, but again, Im not sure
It is peanut$ even if it goes forward but Im trying it anyway, it may help in the future in understanding or proving something connected with potential "escrow recovery" or at least I wanna believe that is possible
JHD... LG also says that ultimately, future filings, are key as well. I agree.
AIMHO, STRIKE
I would anticipate the share price to continue up and slither past $50... and scare $60 sooner than later... next quarter results should remain positive.
AIMHO, STRIKE
SURGE IN OPTIONS
Source (Best Stocks, 6/2/23) The Mr. Cooper Group Inc. (NASDAQ: COOP) experienced an unexpected surge in options trading on Wednesday, leaving investors in a state of bewilderment. A staggering 10,613 call options were purchased on the stock, marking a significant increase of approximately 3,637% compared to the average volume of 284 call options.
Recent modifications have been made by several hedge funds to their holdings of Mr. Cooper Group stock, further fueling speculations about the sudden interest in this stock. As Royce & Associates LP augmented its shares by 77.9% during Q1, the hedge fund currently owns 44,518 shares valued at $1,824,000. Mercer Global Advisors Inc., First Trust Advisors LP and Squarepoint Ops LLC have also increased their stake in Mr. Cooper Group by 6.4%, 14.4%, and 166.9%, respectively.
Thrivent Financial for Lutherans is not far behind as they join the investment bandwagon with an impressive increase of 98.5%. They now own an impressive 255,864 shares worth $10,483,000 after acquiring an additional 126,992 shares during Q1.
Mr. Cooper Group CEO Jesse K Bray reportedly sold a substantial amount of his stocks; precisely 21k USD that was completed on March 28th this year for a grand total of $816480 in value.
OR if the 80 plus year old was working in a negative capacity possibly due to potential forth-coming information sometime this month, he was told a month or two ago that he would need to go silent.
Was the following POSSIBLY PREPLANNED for a KNOWN COMING EVENT?
1) Purposely told people many, many times he is an 80-plus-year-old man
2) He also let everyone know he was an educated subject matter experienced player in OPTIONS
...
Ok good point!
JHD
There has always seemed to me that coop equity price has always been kept very low for reason.
This may have to do with possible shares issued to those who signed timely releases such as preferred shares that the Players would want a very low strike-price of coop to convert preferred into commons.
To this point, this could explain why coop has always been held down…until those shares are issued and/or the strike price has been determined.
Maybe that is what just happened recently to explain why they have allowed coop to approach $50.00 again with the looks of going much higher.
…
I would say we at least give it till the 16th when LG has estimated we could see some action based on some info he acquired, which he understandably chooses not to disclose how or through.
JHD
Yes many already have the full treasure, all we have to do is verbally receive and use it without question...
For those that are constantly disparaging me for reporting dates that are irrelevent , I think you will find that the DTCC are executing our $$$$ and others accounts in Coop by Brookfield.. JMO That does not make me wrong . I just can't predict when the announcement of our participation or they may steal our rightfully owned assets. Lets keep asking :) all other noise here is that which is irrelevant.
"Brookfield Property Partners L.P. – (Series 2) BPYPO CUSIP: G16249156 2023 Distribution – Breakdown for U.S. Withholding Tax Purposes Record date March 1, 23 June 1, 23 Payment date March 31, 23 June 30, 23 Sourcing Type Amount ($) In Q1 Amount ($) In Q2 Amount ($) In Q3 Amount ($) In Q4 Non-US Guaranteed Payment $0.3984375 $0.3984375 Total $0.3984375 $0.3984375 This qualified notice is provided in accordance with §1441 of the Internal Revenue Code and the U.S. Treasury Regulation §1.1446-4 with respect to all the distributions declared by Brookfield Property Partners L.P. to be paid through June 30, 2023."
https://www.dtcc.com/-/media/Files/pdf/2023/6/2/18589-23.pdf?fbclid=IwAR1faC_T3P_S1lQYlwbZaOQvWRAbBspbcVXEjPniBCq9_XsVcP5dth_ynCI
TRUE TRUE ON ALL COUNTS
However, those who have not issued releases could still sue, and there are quite a few of them. That being said, the judge said that the case could be reopened under certain circumstances. Filing a simple complaint to the judge could already get things moving, and that doesn't require a lawyer. The fact that our former lawyer failed several times in court with his submissions regarding the 30 billion does not mean that we cannot prosecute the EC for neglecting their duties, to give just one example.
There was also a rumor that Susman claimed at that time that it was too early to take further legal steps. Unfortunately, I cannot prove this statement, since I had read about it only in the message boards and this was also many years ago. I only remember that this rumor came from a woman who was supposedly present at many court hearings and had tweeted a lot about it.
Hitting the bushes has always been a tried and true way to see where the snakes are moving ; )
I'm with you. I feel like an a hole right now. I want to fight but was careless on the hearts I'm pressing
If lodas is not with us it's enough for me to calm down.
Why not just wait until the FDIC finishes what it is doing?
There have been hundreds, maybe thousands of Receiverships that have been completed.
Has 'legal action' been needed in those cases?
Time might be better spent trying to find a FDIC person who can say as to how far along in the process they are.
Folks
It is plain and simple,WE ARE EITHER GONNA GET PAID OR WE WERE HOSEDAGAIN but this time by SUSMAN, which I for one do not buy of a person of his standing in the legal community at all
But as always ALL HERE ARE ENTITLED TO THEIR OWN PERSON OPINIONS
FIXED OPS Thank you
some here have never played big boy poker and need to know this stuff
ANd the 340K$ does NOT INCLUDE what ya had put for in the first suit correct
Yes, collectively there’s not enough money here. By far!
JHD
This is when it happend ron.
I caught it
Call Tepper up and ask him like any of us could ever get through to him right
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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
WMI Equity Escrow Calculator
WMIH: Here's how old shares relate in value to the new shares.
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