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Geee....thanks for NOT answering my question. A simple yes, I have read it or a no, I have not would have sufficed, LOL.
Thanks, we will be fine about 100 miles from the cost but I have some trees that may come down not near the house thank God. Good luck all all we can do is wait!
We will see what happens after 4 BUSINESS days which is next Friday IMO!
draggon76, what is the "P&A" in such...
...esteemed and erudite understanding of the WMI/WMIIC (i.e., the 'debtors) bankruptcy?
...the court documents are absent such acronym.
...thanks.
dragoon76 Saturday, 10/07/17 02:20:03 PM
Re: bkshadow post# 490988
Post #
490995
of 491003 Go
Have you seen the P&A?
ron, your theory is deeply flawed, sorry to say that.
When the escrows/WMILT (the debtor's estate) receive a final payment (IF there is any), then WMIH can NOT book this same amount A SECOND TIME as capital gain, because WMIH did not receive this final payment and thus did not have this capital gain, but the WMILT. And neither is the WMILT owned by WMIH, nor has WMIH a stake in the WMILT
Your theory "magically" duplicates the amount of the final payment (again, if there is any)! Not possible...
NOLs are GONE with
"the Final Payment".
JPM paid FDIC-C on or before June 1st, closing the PAA with JPM's Indemnification payment on July 14th. The FDIC-C will push the funds to FDIC-R for distribution to "the Debtor's Estate" WMI-Escrow Holders to complete the "Change in Control" for "WMB and it's assets".
When "the Debtor's Estate" WMI-Escrow Holders realize "the Final Payment", when WMIH will 'Book' the Capital Gain against the Capital Loss and the NOLs are GONE.
The old Capital Loss will be re-Booked as the new offsetting Capital Gain. Hence; No Capital Loss, no 'gives rise to' NOLs.
The current 8-K [Value from the Hawaii Insurance Bond "Assets" which Old-WMI owns] can be 'Booked' against current NOLs, until "the Final Payment" is realized by Old-WMI, and 'Booked' by WMIH.
HLCE,
Ron
Bond, good luck to you!
Mon, Any Sierra news on WMIH. LMAO!!
Quote:
MONICALAW Saturday, 01/19/13 11:37:13 PM
Re: xoom post# 382133
Post #
382134
of 491000 Go
Xoom, Sierra is saying the settlement JPM/WMIH will be completed in 14 days???? From when? from today??? Thanks Awesome man...Mon
Got relatives who live about 80/miles South of Nashville, (Huntsville) looks like right in path.
Thanks we will... Just making sure my loader is ready to remove trees off fences if need be. Lets keep wamuing lol
UP
IRS has already Been TAXING our LT....Look at 3/31/2017 LT 10Q ...We paid $30 Millions for the first Quarterly Income made from LT assets held in our LT Existing Cash and Stock investments....Already....We are Not aware of Taxes paid in second and third quarters this year....And WMIH NOLs has Nothing to do with LT income or M&A with WMIH....Separate entities right now....Separate Taxes paid.....Thank you for your knowledge and contributions....Best
Stay safe down there!
Still waiting on your answer about those P's, Claw
Have you seen the P&A?
Sorry guys on the tractor getting ready for the cat 1 hurricane. If that be the case then maybe the nols survive. I can tell you this we will soon know...
Yep and 32 bil went to Dell for WMB IMO :0
Bond:if my memory serves me correctly ( and some time it doesn't) there were two tax credits. One for the nol's for the bank and the other was a one they took as an ordinary loss on the bank stock that was held by the holding company.
There is ONLY one reason the BIG MONEY PLAYERS have been here since 9/2008
***********AND THAT IS***************
They are after VERY LARGE SUMS OF MONIES LIKE THE AMOUNTS MOST PEOPLE HAVE NEVER HEARD OR SEEN BEFORE
********NOW THE AFOREMENTIONED SPEAKS LARGE GREEN LANGUAGE**********
Now LG you know how I feel about those, I seriously DOUBT they owned all of those, BUT even a participation % of the suggested 25% would be over the top.
Heck even if the 25% REQUIRED PARTICIPATION % is wrong IF IT IS THEY ONLY HAD just 5%, it is over the top @30 bill, especially when you add in the 32-8='s 24 aspect and we have a case filed in court and I'd lay odds it's over that.
so 54 bill and take the 4 bill off the top for TPS and the balance comes home, 50 bill I would guess would work for all here..........
There are DOC/filings floating about the room that show far more was shown to be under their LONG ARM CONTROL or participation in, that if added to that take it really over teh top.
I'm OK at my 24 bill but any that can be added to the mix deff would allow me to do a lot more
mufa, the BIG PICTURE is these theories have...
...all been total nonsense from the 'get go.
...and have ALL FAILED.
...over 5-8 YEARS.
...if the focus in on the next nonsensical fantasy theory, without regard to the 5-8 year realization average of ZERO.
doing the same thing over and over again and expecting different results"?
mufa Saturday, 10/07/17 09:48:02 AM
Re: bkshadow post# 490965
Post #
490971
of 490986 Go
I believe Az, was trying to point something different regarding WMMRC (not cash value) The reply was about all WMMRC valuation, not just cash.
bkshadow, If you focus on the smallest details, you never get the big picture right. Both can be easily understood by a reasonably prudent investor OSM.
1. P&A is completed ,so when will be available to public we ll see ; JPM final payment made to FDIC for WMB ( book value as of 2008 ) . Every single asset of WMB will be accounted/paid in the FINAL PAYMENT. So, the previous theory that JPM was going to PAY $24b (32-8) at "reconciliation, reconciliation, reconciliation," or by March 2017 "for the capital losses in the 5-year period (great DD support)? JPM GOT PAID $645M. Another 'whiff.
Can you provide a link with final P&A completed ?! No one can do it. So,we can't argue without looking into the final P&A completed. Final P&A completed is the masterpiece of WMB trasfer to JPM. JPM has reflected the impact on its financials in SEC filings. IT IS OF NO INTEREST TO ESCROWS WHAT JPM GOT, WHAT THE DB TRUST OWNERS OF MBW GOT, OR WHAT THE RECEIVERSHIP HAS LEFT - - - THERE IS NOTHING COMING FROM THEM, OR ANYONE ELSE, AT ALL; EVER.
2. WMI Interest loan portofoliu generated for 9 years. (++billion) WMI had NO INTEREST in any WMB loan portfolio.
Many years ago you said that the value of wamu was +65 billion . Maybe you were right back then. I'd stick by that. However, it came with the reality acknowledgment that IT IS GONE, we had representation, we LOST (save for interest in WMIH thanks to some heady retail shareholders)
Now ,you are saying wamu is gone, Said it was gone THEN. Failure to ACCEPT that it is gone is apparently the open item. and what is in the docs is what we get. What docs?! There is a Liquidating Trust that is responsible for wrapping up the affairs; they publish quarterly and annual court and SEC filings. Such should be referenced. $50-$75M AT BEST, MAS.The Final P&A completed is what mater (every single asset will be there and paid for value). The P&AA HAS NOTHING TO DO WITH WMI, WMIIC, WMILT, WMIT, ESCROWS, ET AL.
Bkshadow, just IMO,
Getting paid for escrows, has NOTHING TO DO WITH the NOL's that WMIH has.
I know it doesn't that is why I took it so out of character.
We are all frustrated to the MAXXXXXX but when it seems we are so close I just am not getting the total frustration the is NOW BEING put out or expressed.
Not that it matter but I think everything started moving already but we just can't see what is moving short of 8K's being put out,WHICH tells us stuff is..
My wag is by the end of this year max MAX we're gonna have an idea of what is up.
We have to have something period by end of oct informing of their direction or intentions, or it will appear this is going to the ground, too much they have to do between now and I think march 19th 2018
sidedraft From the 1878 year Hmmmm? When you scroll their page, as of
JUNE 2017
Companies
Wayne Mutual Insurance Company
Founded in 1910, Wayne Mutual Insurance Company provides a wide range of property and casualty insurance programs for automobiles, homes, farms, investment properties, and businesses.
Washington Mutual Insurance Association
Since 1878, Washington Mutual Insurance Association has provided protection for homes, farms and personal property. Our products can be tailored to meet the specific needs of our policyholders.
Marion Mutual Insurance Association
Established in 1881, Marion Mutual Insurance Association offers insurance protection for farms, homes and other property. Our new programs offer expanded capabilities to better serve our policyholders
Ts
JPM DID NOT PURCHASE 615 BILLION in WaMu LOANS - This is why BIG MONEY PLAYERS Have LARGE STYLE Escrow ShareMarkers
***ONE QUESTION***
HAVE I TOLD YOU LATELY HOW MUCH MORE I LOVE MY ESCROW SHARES which continues to grow everyday forward?
https://livinglies.wordpress.com/2017/07/24/investigator-bill-paatalo-why-jpmorgan-chase-did-not-purchase-615-billion-of-wamu-loans/
Investigator Bill Paatalo: Why JPMorgan Chase did not purchase $615 Billion of WaMu Loans
Posted on July 24, 2017 by Neil Garfield
http://bpinvestigativeagency.com/why-jpmorgan-chase-did-not-purchase-ownership-of-615b-worth-of-wamu-loans-in-three-simple-steps/
Investigator Bill Paatalo questions the practice of using “Substitution of Trustees”. Paatalo points out that WMAAC and WMMSC have never been dissolved and still exist. Although the loans did not go through the FDIC, Chase executes assignments from the FDIC in order to substitute trustees. In this article Paatalo demonstrates that JPMorgan Chase did not purchase ownership of $615 billion in Washington Mutal loans in three simple steps.
Please visit Bill Paatalos’s informative blog at http://www.bpinvestigativeagency.com. Paatalo has investigated and exposed the fraudulent WaMu/FDIC/JPMorgan Chase fraud and is one of the most talented foreclosure fraud investigators in the country.
Posted by Bill Paatalo on Jul 24, 2017 in
Here is a simple “3-step Analysis” to show that “ownership” of at least $615,000,000,000.00 (over half a TRILLION Dollars!) of WaMu loans were not purchased by JPMorgan Chase from the FDIC.
STEP 1:
The U.S. Senate Sub-Committee (Levin – Coburn Report) reveals in its findings of fact that WaMu sold and securitized at least $615B of residential mortgage loans through its subsidiaries “WaMu Asset Acceptance Corporation” and “Washington Mutual Mortgage Securities Corporation” who acted as “Depositors” in the securitization transactions.
See:
https://www.hsgac.senate.gov/subcommittees/investigations/media/senate-investigations-subcommittee-releases-levin-coburn-report-on-the-financial-crisis
Pg. 116 –
From 2000 to 2007, Washington Mutual and Long Beach securitized at least $77 billion in subprime and home equity loans. WaMu also sold or securitized at least $115 billion in Option ARM loans. Between 2000 and 2008, Washington Mutual sold over $500 billion in loans to Fannie Mae and Freddie Mac, accounting for more than a quarter of every dollar in loans WaMu originated.
Pg. 119 –
“WaMu Capital Corp. acted as an underwriter of securitization transactions generally involving Washington Mutual Mortgage Securities Corp. or WaMu Asset Acceptance Corp. Generally, one of the two entities would sell loans into a securitization trust in exchange for securities backed by the loans in question, and WaMu Capital Corp. would then underwrite the securities consistent with industry standards.
STEP 2:
See: Page 2. – PAA – (click here: FDIC-Chase – PAA)
“Assets” means all assets of the Failed Bank purchased pursuant to Section 3.1. Assets owned by Subsidiaries of the Failed Bank are not “Assets” within the meaning of this definition.”
STEP 3:
In the case of Fox v. JPMorgan Chase, a specific REMIC Trust is named in the action. To prevail on its argument that the loan was sold and transferred to the Trust, JPMorgan Chase and U.S. Bank, N.A. as Trustee, both admitted / “stipulated” that the loan contained both investor codes “AO1? and “369” in the loan transfer history, which means the loan was sold by Washington Mutual Bank to the subsidiaries prior to those subsidiaries transferring the loan into the Trust. AND, it was stipulated that the loan was NOT PURCHASED FROM THE FDIC.
(Click here: Chase Stipulated Fact – AO1 – WMAAC)
Stipulated Facts:
“8. Investor Code AO1 in the Loan Transfer History File represents WaMu Asset Acceptance Corporation.”
“9. Investor Code 369 in the Loan Transfer History File represents Washington Mutual Mortgage Securities Corporation.”
“10. JPMorgan Chase Bank, N.A. did not purchase the loan from the Federal Deposit Insurance Corporation.”
In the Fox case, “JPMorgan Chase” and “U.S. Bank as Trustee,” have taken a position that universally applies to all $615B of these securitized loans.
Each one of these loan transactions will show either the investor code “AO1,” “369,” or both somewhere in the “Loan Transfer History” screenshots within the servicing system, and as such, the loans were not purchased from the FDIC.
The presumptions that Chase has relied upon in order to maintain its position in thousands of foreclosure proceedings that (1) it acquired the loans through the PAA, and (2) the assignments of beneficial-ownership interests to the loans unto itself as “
Important Actions Tells Me WMIH is Within Days/Hours With 8K Filing Showing They Are Moving Forward
• WMILT has not filed an extension proving they will close out WMILT by 3/19/2018 when it expires
• WMIH-Corp was responsible for Run-off Notes which are now paid in full effective 9/29/2017
• WMIH-Corp will have to file an 8K discussing funding replacement which has to be refunded on 1/5/2018 unless they replace funding, shutdown WMIH or move forward with QA
• Now this is a huge sign when WMIH advised us they would close out the WaMu 1031 Exchange by end of year 2017
• WMIH would not have accomplished any of the aforementioned if WMIHs move would be delayed into 2018 in my view
• I suggest doing research on the “Hidy Hole” regarding the WaMu 1031 Exchange
***Is this a HIDY HOLE of sorts***
Note 9: Investment in Subsidiaries Since the Effective Date, the Trust had five (5) dormant subsidiaries without any active business operations. The subsidiaries adopted a plan of liquidation in October 2012. The assets held by these subsidiaries were comprised solely of cash and cash equivalents. On June 23, 2017, four of the subsidiaries were merged with and into the last remaining subsidiary, WaMu 1031 Exchange. Prior to such mergers, such subsidiaries distributed their remaining cash to the Trust. The Trust received $444,333 on June 27, 2017. The last subsidiary, which no longer has any assets, is expected to be dissolved by December 31, 2017.
From 78 to 93 million available. Piers only owed 49 million - Why no payoff? Maybe left impaired!
http://www.wmitrust.com/wmitrust/document/8817600170728000000000001
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=9262133
Consumer Finance
Company Overview of WaMu 1031 Exchange, Inc.
Snapshot
People
Company Overview
WaMu 1031 Exchange, Inc. operates as an exchange intermediary for 1031 tax-deferred exchanges in the United States. Its services include preparation of exchange agreements and other necessary documentation, management and disbursement of exchange funds, coordination of the exchange with settlement providers, and general exchange assistance to exchangers and their advisors. WaMu 1031 Exchange was formerly known as Lawyers Asset Management, Inc. The company was founded in 1977 and is headquartered in Manhattan Beach, California. WaMu 1031 Exchange, Inc. operates as a subsidiary of Washington Mutual, Inc.
3601 North Aviation Boulevard
Suite 1000
Manhattan Beach, CA 90266
United States
Founded in 1977
Key Executives For WaMu 1031 Exchange, Inc.
WaMu 1031 Exchange, Inc. does not have any Key Executives recorded.
***ALSO NOTE HOW Fidelity Shows Former WaMu***
Company Profile
Insurance
Company Location
Seattle
WMIH Corp., through its subsidiary, WM Mortgage Reinsurance Company, Inc., engages in reinsurance business with respect to mortgage insurance in runoff mode. The company was formerly known as WMI Holdings Corp. and changed its name to WMIH Corp. in May 2015. WMIH Corp. was founded in 1889 and is headquartered in Seattle, Washington.
There are many unassociated companies that have names starting with Washington Mutual.
WaMu Investments, Inc is not WMIIC.
In 2009, Washington Mutual signed an affiliation agreement with Wayne Mutual Insurance Company in Wooster, Ohio. This agreement authorized the existing Wayne Mutual board of directors and company officers to lead both companies. As a result, the companies are now working closely together as part of Wayne Insurance Group, but continue to operate as separate entities. This affiliation offers new opportunities to provide policyholders of both companies with a broad range of insurance products and services to meet their individual needs.
http://www.wayneinsgroup.com/washington-mutual
Interesting that below, Washington Mutual Insurance and Wayne Mutual Insurance signed an "affiliation" agreement that authorizes Wayne Mutual BODs and company officers to lead both companies but will operate as separate entities...
**************************************************************
Washington and Wayne Mutual merge
Posted Sep 17, 2009 at 4:05 AM
Washington Mutual Insurance Association in Lakeville has signed an affiliation agreement with Wayne Mutual Insurance Company. The agreement, which has been approved by the Ohio Department of Insurance, authorizes the existing Wayne Mutual board of directors and company officers to lead both companies. “Washington Mutual has a proud heritage of meeting the insurance needs of its policyholders,” said Tod J. Carmony, who serves as chairman, chief executive and president of both companies. “We have the highest regard for the talented and dedicated staff at Washington Mutual and are confident that, working together, we can provide our policyholders with a broad range of insurance products and services to meet their individual needs.” Washington Mutual provides insurance protection for homes, farms, personal property, livestock, machinery and other valuable items. The company provides protection against financial loss by fire, windstorms, or lightning and offers extended-coverage policies for additional perils as well. Washington Mutual Township & Fire Insurance Association was founded in 1878 to benefit area farmers. The company hired its first agent in 1890. Agents and directors worked from their homes until 1925, when the first office was constructed near Lakeville. Since its inception, Washington Mutual has continued to grow with very little change in philosophy. Washington Mutual remains a mutual company, owned by its policyholders. “This affiliation is an ideal move for our company, our policyholders, and our agents,” said Blaine E. Budd, general manager of Washington Mutual. “Being part of another successful insurance organization will enable us to combine our strengths and provide a broader and deeper range of insurance solutions.” With the affiliation now approved, the two companies will begin working closely together, but will continue to operate as separate entities. “Wayne Mutual will celebrate its 100th anniversary in 2010,” said Carmony. “This affiliation will better position our company to provide the strength, security and superior service our policyholders have come to expect.” Wayne Mutual Insurance Company has provided property & casualty insurance to Ohio residents since 1910. Headquartered in Wooster, the company markets its products and services exclusively through a statewide network of more than 100 independent agencies.
http://www.the-daily-record.com/news/20090917/washington-and-wayne-mutual-merge
WMIIC letter from 2009
Interesting that in WMIIC letter below, WMIIC refers to themselves as "a broker/dealer affiliate of JPMorgan Chase Bank, N,A." The letter didn't copy and paste well so if you want to read it, I would recommend you use the link below.
*********************************************************
WaMu Investments, Inc. Irvine, CA 92623-9399
18008880055 phone
April 30,2009
Office of the Attorney General
33 CaPitol Street "
Concord, NH 0330 IIi
Dear Madam/Sir:
WaMu Investments, Inc. (the "Firm") is a broker/dealer affiliate of lPMorgan Chase Bank, N,A, that offers clients investment and insurance products, The Finn will notify 14 New Hampshire
residents that during a review, we detennined we were unable to locate certain documents from
the yea';'; 200 I and 2006 containing some of their personal and financial infonnation, The
inforrn~tion included the individual's name. account number. address, estimated annual income
and estimated net worth,
The Firm has searched extensively through files that may have contained the documents, both in
our ottites and at our offsite storage location and we believe that the documents have been
misplaced, While we have, to date, been unable to locate these documents, we have no indication
that the information has been or will be accessed or used inappropriately,
While J.~ do not consider this malleI' as a "breach of security" under New Hampshire law, as a
prudent business decision we notified our clients, Our letter, out of an abundance of caution,
provided clients with information on how to obtain a free credit bureau report and on how they
can prot~ct themselves, including contact information for the credit bureaus to place a fraud alert
on their consumer reports, "
Should you haven:questions. please do not hesitate to contact me at (949) 442-5255,
Douglas'F. Wilburn. SVP
Chief Coippliance Officer
\
Securities (including mutual fund~ and variable dlllluities) and investment advisory services are offered through WaMu
Investments, I~c. Annuities and insurance products are provided by various insurance companies and offerer:l through
WaMu lm;estm~nts, Inc. and, in CalifornIa, through WMFS Insurance Services, Inc. WaMu Investments, Inc., a member
of FINRA/SIPO" and WMFS Insurance Services, Inc. are affillates ofJPMorgan Chase Bank, N.A_
Ii .'" , - - "
INVESTMENTS AND INSURANCE PRODUCTS ARE: • NOT A DEPOSIT • NOT FDIC INSURED • NOT INSURED
BY ANY FEDERAL GOVERNMENT AGENCY • NOT GUARANTEED BY THE BANK • MAY GO DOWN IN VALUE I
https://www.doj.nh.gov/consumer/security-breaches/documents/wamu-investments-20090430.pdf
Great Post. Thanks for your lucid explanation. GLTU & GLTA.
I rarely weigh in but you can not have it both ways guys either the company has assets meaning escrow gets paid or it has NOLs net operating losses, meaning we don't get paid. Do you really think that the tax man is going to let your knew company take 5 billion in nols and let you get paid for your old shares ie: escrow get paid NO!
http://www.woodllp.com/Publications/Articles/ma/030301.htm
Who cares if you're telling us it is wrong or right??We will know in a couple of days what is the truth.
I believe Az, was trying to point something different regarding WMMRC (not cash value)
bkshadow, If you focus on the smallest details, you never get the big picture right.
1. P&A is completed ,so when will be available to public we ll see ; JPM final payment made to FDIC for WMB ( book value as of 2008 ) . Every single asset of WMB will be accounted/paid in the FINAL PAYMENT.
Can you provide a link with final P&A completed ?! No one can do it. So,we can't argue without looking into the final P&A completed. Final P&A completed is the masterpiece of WMB trasfer to JPM.
2. WMI Interest loan portofoliu generated for 9 years. (++billion)
Many years ago you said that the value of wamu was +65 billion . Maybe you were right back then.
Now ,you are saying wamu is gone, and what is in the docs is what we get. What docs?! The Final P&A completed is what mater (every single asset will be there and paid for value).
Bkshadow, just IMO,
i'll appreciate if you don t PM me with bad language. Im ok if we agree to disagree.
Anything else is irrelevant
I can envision wmih nol being affected by assets coming back to wmih itself. But imo any assets coming back to the liquidating trust could not impact wmih nol because the nol belongs to wmih which is a separate entity. Any assets coming to the liquidating trust will be passed through to escrow holders and those individual holders will bear the tax consequences.
Thanks CBA09.
A valuable post to help understand the process. I think that you are suggesting that the unfolding of some SPE's is possibly already in process. But I gather that the process can take months vs days or weeks.
The PLAN to "SELL" WMMRC POR 6, wrong...
...assertion (theory) is totally wrong.
...the PLAN was to leave WMMRC in the reorganized debtor.
...with certain creditors, primarily the PIER with $2,000,000 in holdings, making an election to take WMMRC (as valued by the debtors from Blackstone) instead of cash.
...WHY?
...certainly not, and never mentioned by any party in interest or any of the $1B of professionals, including EQUITY (the wizard of Attorney Suman and the forensic BK expert EC Chair Willingham (after 'routing Joyce and prior EC experienced bankruptcy counsel)) was any mention of any value of WMMRC based on HIDDEN, SECRET ASSETS.
AZCowboy Friday, 10/06/17 01:40:30 PM
Re: None
Post #
490850
of 490964 Go
~ The Plan To Sell WMMRC, ~
Was part of the original Plan 6’ submission ... I don’t think that future consideration changed with the transition from the failed Plan 6, ... to the approved Plan 7’
AZ
...various transcript excerpts.
20 DIRECT EXAMINATION
21 BY MR. MASTANDO:
22 Q. Good morning, Mr. Kosturos.
23 A. Good morning.
The most important thing about this transaction is if we were
11 to sell it today, we will sell it for a discount. If we are
12 able to spin it out into WMI reorg and be able to use the NOLs
13 it will create more value. And Mr. Zelin, who will be
14 testifying later, I'm sure, can walk you through the
15 differences of what we would receive if we sold immediately
16 versus if we held it.
18 A. In a value of creation, again by the debtor, one has to
19 look at two different distinct opportunities as it relates to
20 an existing asset. We could, as WMMRC, look to sell it
21 immediately and what we would do there is get a discounted cash
22 value or market value for that or we could turn around and
23 create possibly more value by effectively spinning it off in a
24 new reorg plan. And to the extent that we could use existing
25 NOLs would only create more value.
Q. And the top of the term sheet states that it's the
8 Centerbridge, Appaloosa, Owl Creek and Aurelius, correct?
9 A. Yes. I see where you're pointing to.
10 Q. Their proposal, now turning to the page ending in 405, and
11 their plan is to capitalize WMMRC and expand its business,
12 correct?
The disclosure statement is also defective in that it
6 fails to disclose the basis for the fifty million dollar fire
7 sale valuation of WMMRC in the liquidation analysis.
A. We looked at a variety of pieces of information to
22 determine an estimate for what would happen in a fire sale.
23 But as an initial matter, the sale of WMMRC rather than a
24 reorganization of the debtors, will result in the loss of the
25 tax attributes for the NOL carry-forward, and that has value
Q. And directing you to the second bullet, "Indicative Bid",
4 what were the amounts of the bids for WMMRC?
5 A. There were two. The first was -- well, one of them was
6 for a hundred million plus or minus fifteen percent. And the
7 other one was for approximately forty-one million.
Q. Thank you. WMMRC, why, exactly, was WMMRC chosen to be
11 the company around which restructure? There are a number of
12 companies here, some of them small, some of them appear fairly
13 large. Why WMMRC?
14 A. There's actually not any one that's larger than WMMRC that
15 remains. From a pure asset standpoint, I suppose WMI
16 Investment Corp. would be, but that's really just cash. So
17 WMMRC is the only one that has what you could consider ongoing
18 operations on a go-forward basis. The rest of the subsidiaries
19 are all cash that's left there; there's not really any
20 operations.
If they didn't get their tickets there is nothing to be nervous about.
10000 Escrows...or was that 10000 P's....ummm ok
Your question about WHEN is exactly why I asked several hours ago about it.
Timing.
yep followed TPG here at $6.47 per share with XX,XXX shares the day she went down $XXX,XXXX went POOF GHONDI.
This has just been freed up as of 4 days ago, why pitch a fit now after 9 years, can't wait a tad longer to see what if anything start to move????????
Hey I guess ifin ya can't then scream and yell and whine everyday and see how much that helps ya out...............
no seriously .10 20 30 50 in your COMMON ESCROWS
WAMU is gone, long gone.last I checked this is the WMIH board, two completely different companies.
Quite a few believed in WMI also.
To be completely critical you have to correlate the whole case, not just parts.
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Moderators Large Green xoom GO4AWILDRIDE stoxjock ron_66271 |
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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