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Boris?....why not get your DD from approved SEC documentation as submitted by all parties involved with this WAMU, and WMI saga....?.....hoping and invoking the deity will not result in the resolution you have been seeking.......only that which was agreed to by settling parties to all cross complaints....there is no obligation for WMI, now defunct, to give the estate to old shareholders in settlement of any prior agreements that you, and others harbor.... WAMU did not go into receivership because of a fraudulent government in this country, but by the malfeasance of the prior executive officers, and BOD....I suggest that you read the 2013 WMIH 10-K as submitted to the SEC 11 years ago for factual data concerning your quest...everything in that document was adjudicated by the courts, and signed into law... nothing that you post will change the outcome, except a lawsuit implicating all players in this bk settlement for fraud....Lodas
Next two weeks are crucial for escrows.
If we dont get a settlement by 4/14 we likely won't until Oct. It's hard to believe Dimon would want to file depositions with the court now. Why would he? Would be stupid. He's hanging a pretty big matzo ball out there if he lets this go past 4/14. But arrogance can make you do some pretty stupid things so who knows? Personally I'd love to see him in an orange jumpsuit. I think Judge Naomi is the type of judge that could do it to. At 80 yrs old I'm sure she's sick of the evil and corruption that is so pervasive now in this country. This case will be her legacy. Hoping God guides her to a just decision.
September 2024 is the latest date mentioned.
banks were not harmed by fake LIBOR rate setting... the FDIC was harmed, thats why they instituted the lawsuits on behalf of the banks...... how was the FDIC defrauded?....The FDIC insures the liabilities of the banks balance sheet in case of a banks failure, and since the elevated interests costs by fake LIBOR rates ballooned banks liabilities, the FDIC was OVER INSURING the banks liabilities and not collecting the commensurate fees they charge the banks for this purpose....equity investors in major banks were not harmed when the banks made loans at higher interest rates, the borrowers making loans were....THERE WILL BE NO RECOVERY FROM LIBOR SETTLEMENTS THAT WILL ACCRUE TO HOLDERS OF WAMU COMMON OR PREFERRED INTERESTS.... the common , and preferred stock was cancelled, extinguished, and all rights associated with the prospectus is null and void... the chapter 11 was settled 12 years ago with releases signed by former holders of equity interests, which allowed WMI to cancel shareholders values in the stock....Lodas
US LIBOR Transition Timeline for Debt Securities
https://www.dtcc.com/-/media/Files/Downloads/Settlement-Asset-Services/Issuer-Services/DTCC-LIBOR-Cessation-Roadmap.pdf
The 4/14/2024 Date is not that far off...Let's see if all these 'expectations' pan out or we find out that we have been Duped again by the FDIC from paying us the "F&R Promised" and this 'LIBOR Litigation' delaying our "F&R Payment" is just a 'Chimera'...
This is happening to to us today. The beginning of the end for our settlement. Have a great Easter week, The Lord is with us
"NSCC reports, and Machine-Readable Output (MRO) affected by this change include:
The Seg. Exemption processing referred to in this important notice is for an exemption instruction
processed by a Member to NSCC that overrides their CNS standing instruction on the NSCC master
file. For Members who use DTC’s Inventory Management System (IMS) to process exemptions, please
see DTC’s important notice schedule regarding Good Friday processing to determine their schedules
in effect."
https://www.dtcc.com/-/media/Files/pdf/2024/3/26/a9411.pdf
https://www.dtcc.com/-/media/Files/pdf/2024/3/28/MBS1316-24.pdf
$75 on a single share trade. Meaningless. Same if I paid $84 dollars for a single share.
From another board
"""....the cross appeals are BAFFLING....???.....something is definitely getting the full review.....dangerous, but probably GOOD FOR US.....???......
...the pundits are speculating that those perp banks are getting added back, or directing us to amend the original petition and basically recast the case...???......
....ALWAYS THE RISK THAT UBS WINS AND GETS THE sonterra/LIBOR STERLING case tossed out, on a legal loop-hole technicality......????....... """
Have a GOOD ""GOOD FRIDAY"" and EASTER
Remember the reason for this HOLIDAY and WHAT IT IS REALLY ABOUT
GET ON YOUR KNEES and THANK HIM for what HE DID for us.
Ifin you have lost him in your daily lives, BRING HIM BACK as we need his help desperately in these time
Well, I only say what my heart believes to be true. I muddled my words as a young man due to some anxieties. I no longer fumble that football.
JHD
Hold2wm on bp feels we may see Libor any day now. 208b is his guess. That would give wamu about 100b. Maybe more.
Lets see what happens.
Pray. Happy Easter.
Thanks for signing your post "JHD". Without it, I wouldn't know who it was.
😂
I am an optimist that is why I hold way more shares than you.
JHD
Awesome to hear , thanks 🙏
They grabbed 200k shares. Maybe they took out stops in anticipation of news next week...
Continuity, I just saw that share drop to $75.00 at 4:11 and then shoot back up to 77.70 at 4:15 PM EST. I took photo shots of both the $75.00 and the rise back to $77.70.
COOP Latest After Hours Trades
Select time range to see more trades:
After Hours Time (ET) After Hours Price After Hours Share Volume
16:15:40 $77.7 99
16:15:40 $77.7 200
16:11:31 $75 1
16:06:02 $76.52 1
16:05:41 $77.15 28
16:05:41 $77.13 28
16:05:40 $77.13 100
16:05:39 $77.13 78
16:05:39 $77.13 22
16:05:38 $77.13 100
16:05:37 $77.13 100
16:05:37 $77.13 100
16:05:36 $77.13 100
16:05:36 $77.13 100
16:05:35 $77.13 100
16:05:35 $77.13 100
16:05:34 $77.13 100
16:05:34 $77.13 100
16:03:22 $77.95 177
16:03:22 $77.79 100
Would you consider yourself a pessimist?
Sitting eighty cents off the all time high, and you found something to complain about.
😂
Split T from your keyboard to His ears.
Good luck to all including Pliss etc for his 699 P’s
Of course it's asking too much for back to back up days. lol
JHD
Weird end of day. The antics are getting more frantic.
Yes, Good Friday and Easter
after hours down to $75... upcoming event?
EOD ...$77.95, that close enough for me....8-K Tuesday or Wednesday? I think so!
"I watch the After Hours PPS of COOP religiously and because I saw all shares night before last land on the $78.01...as I recall. I have never seen that happen before and the Waltz we are now dancing to makes me think that this is a pivotal day being the last business day of the 1st Quarter.
I make this prediction.....I believe we will end the day at $78.00 +- a couple of cents and that will be used as the basis for an upcoming event."
Peace out all. Have a safe and wonderful Easter weekend.
I watch the After Hours PPS of COOP religiously and because I saw all shares night before last land on the $78.01...as I recall. I have never seen that happen before and the Waltz we are now dancing to makes me think that this is a pivotal day being the last business day of the 1st Quarter.
I make this prediction.....I believe we will end the day at $78.00 +- a couple of cents and that will be used as the basis for an upcoming event.
GOODIE
GOOD FOR you and hope that post of mine might have helped, if not so be it ya got here anyway
""""""EXIGENT CIRCUMSTANCES""""""
THAT, caused me to investigate further, and decide to buy.
SPLIT T
""PLAIN AND SIMPLY THEY GOT CAUGHT""
"""""""""""EXIGENT CIRCUMSTANCES"""""""""""""" and NATES DD ON INSIDER TRADING, else wise they would have gotten away with it
I said the sec I saw """EXIGENT CIRCUMSTANCES"" and I put it on the board, HE SAW OR FOUND SOMETHING THAT DID NOT ADD UP"""
EDIT
OH and as far as THOSE THAT HAVE OR WILL FADE INTO THE SUNSET, we still have one of those on this board that WILL IMHO DO THE SAME ON HIS HARLEY . JUST AS HE SAID HE WOULD.
Simple reason why is HIS LEMMINGS are gonna go BALLISTIC when they find out that the MEEK SHALL NOT INHERIT THE BULK OF THE ESTATE......................
Secret venues???? Wow what nonsense,. I vividly recall Marcia Goldstein, head of Bankrupty at Weil, Gotshal being hailed as the Goddess of Bankruptcy in the Media when Weil, Gotshal & Manges LLP was named as attorneys for WMI and WMII. In her first filing Marcia Goldstein declared she would be submitting the Assets of WMI&WMII to the Court in her next filing. Well, she suddenly disappears and Brian Rosen comes on the scene and the Hundreds of Billions of Dollars held within the undisclosed DST's which WMI held Beneficial Interests was never disclosed and made a part of the Bankruptcy/Reorganization as they were held in the names of the individual Trustees and not WMI specifically.
Blair, Dimon and Rosen look like freaking idiots as they were all out smarted by WMI's crew and Marcia Goldstein faded into the sunset looking like a fool.
Several paid and foolish naysayers would have you believe there are no returning assets to WMI and those individuals who released and have beneficial interests in these assets.
Make up your own mind who is telling the real truth and not pumping you full of half truths. If I get a major return on my original shares it is because I signed releases.
WOW....you can tell right out of the gate WHO NEVER SIGNED RELEASES !!!!! maybe next time!!!!!!!!!!!!!!!!
here is another obvious common sense fact:........ if the bank is going is going to foreclose on your mortgage because you are in arrears in your payments, WOULD YOU LET THE BANK TAKE YOUR HOUSE AND ANY EQUITY YOU HAD IF YOU HAD A SOURCE OF MONEY THAT WAS AVAILABLE?????????.......common sense, use them, they work...... Lodas
here is an obvious, but simple fact.....the FDIC-R took WAMU into receivership for a mere 16 billion dollar run on the bank deposits......if, WMI was flush with hundreds of billions in liquid assets, THEN WHY DID THEY NOT DEFEND AGAINST THE FDIC IN LETTING THEM TAKE WAMU IN THE FIRST PLACE?????????........here is the real reason:... WAMU, and WMI did not have 16 billion dollars in assets...why?..... the reason is clear in the letter Alan Fischman wrote to the FDIC to forestall receivership of WAMU banks... Fishman stated he was prepared to borrow money from the Feds, AND CONVERT THE PREFERREDS DEBT TO EQUITY SO AS TO RAISE ...THE TIER 1 requirements to bring them into balance....Alan said nothing to the effect that WMI had billions upon billions in Safe Harbor, or off balance sheets assets.... there was not enough assets Fishman could produce to wipe out the 16 billion dollar run on the bank.... the FDIC knew this, and Jamie knew this from Project West... thats why he got Goldman to short it to oblivion.... simply put, Fishman had no resources to cover the 16 billion dollar run on the WAMU banks..... Lodas
KCC, Computershare, and the court have escrow records. So don't worry about your broker. All's well. If you signed the release and filed that W9 you are golden.
talk BS 20 times still keep BS 20 times
My escrows were with Schwab, history and all included. Tick should have signed release with reputable broker.
Worthless, with no further distribution from the TRUST. We’re not getting it from the TRUST. ;)
Pray Judge Naomi Buckwald decides in our favor. She is an excellent judge, top notch. At 80 yrs old she has immense experience so I like our chances.
Sure, just another 5 weeks until new theories and new deadlines.
Rinse and repeat.
All flavors of escrows will be covered.
If it is par plus interest as goodie and bop surmise then Ps get 1000 plus 15 yrs of interest. Qs get about 2 bucks plus interest. Not certain about Ks.
I believe bop says wamu gets 56b for each 100b.
Boris,
This is Winfall, I have a question regarding Libor and commons. Specifically, UQs.
Do the UQs get to participate in any of the potential Libor recovery?
Thanks for your thoughts.
Windfall
Let’s let it play out and watch what happens…..cactus has already praise BTS with his research pushing his theories of distribution soon…come May 1, 2024 and nothing happens watch them try promoting more theories…
"How much would go to the Wamu estate is hard to say, but it could be very significant."
imo, It would be enough to cover the P, K and U's at par (10B) plus interest. Plus the Bonds at par plus interest. So the FDIC needs aprox 57B ish to take care of the WAMU part.
So, JPM is trading at new all time highs BUT will have to make a payment of 200B in the next 10 days which will wipe out half of its shareholder equity, right?
At least Rosen was right about Libor.
He said we could get Libor money way back when. He was wrong about other payments not coming back but at least he was right on this. I'll send him a Starbucks gift card when we get paid! The cheapskate will probably run right out to get his free coffee. He'll hope its too hot and will spill some on his junk so he can sue them. LOL
Correct Bigbang, nothing to do with our suit.
He is just trying to clear his name. Our case should likely be settled in the coming days leading up to Apr 14.
I cannot imagine this going to trial because the defendants would be crushed and likely get hit with the full 400b....plus possibly jail time for some. Visualize Dimon in an orange jumpsuit.
They can settle now for half that. Maybe even 100b, which will be their starting point. The judge may allow that but I doubt it. 200b is more likely. How much would go to the Wamu estate is hard to say, but it could be very significant.
Good luck people who released. And Coop will also benefit as many escrowers will buy Coop shares because they are familiar with it and see the great potential.
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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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