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~ Merely "Deemed" Worthless, as Applicable to the Completed wmi-lt' ... NOT' worthless as applicable to a Released Ownership of the Completed entire' WMI Holding Company's Reorganization ~
... Individual Plan' Participation Releases and W-9's submitted to one's Broker or Bank ... by cusip and by an individual's amount owned' ...
Also, This is the ... FIRST ... time I've read a reference to a Class A, ... AND ... a Class B Preferred ... I've only ever found the Accounting for the Preferred Managing Subsidiary, directly related to a Released P' ... However, I'm thinking that an original released K' ... COULD BE ? ... considered a Class B' ... ? ... ? ... ? ... 1st time I've seen that reference'
Great Information that, according to the actual Doc, has just renewed 04/01/2024 ... Yeppers, Good Stuff' ...
https://www.dtcc.com/-/media/Files/pdf/2024/4/1/MBS1317-24.pdf
"The holders of the Common Shares are entitled to elect all of the directors on the DTCC Board, other than the two directors who are elected by the holders of the Series A Preferred Shares and the Series B Preferred Shares. The holders of the Common Shares are also entitled to vote on any matters submitted to shareholders for a vote"
just sayin' :)
AZ
CASH IS COMING TODAY to the participants unless they steal
DTC has received notification from Bank of New York Mellon/IPA DTC #1541, the issuing paying agent for GS Finance Corporation (GSG4), base issuer cusip 36255H, 40054K, 40054L, 40055A, 40055Q, 40056E, 40056F, 40056Y, 40057C, 40057E, 40057F, 40057H, 40057J, 40057K, 40057L, 40057M, 40057N, 40057P, 40057R, 40057T, 40057W, 40057X, 40057Y, that #1541 has refused to pay Interest Payments, Maturity Presentments and Reorg Presentments for this Issuer’s Medium Term Note that are due and payable on 04/01/24 through DTC. Therefore, in accordance with DTC’s rules and procedures, this Issuer’s Medium Term Note will not be completed. Bank of New York Mellon/IPA DTC #1541 has notified DTC that they received the funds after the DTC cutoff to make a funding decision and that they will pay Interest Payments, Maturity Presentments and Reorg Presentments for this Issuer’s Medium Term Note that are due and payable on 04/02/24.
DTCC.COM
www.dtcc.com
https://www.dtcc.com/-/media/Files/pdf/2024/4/1/19919-24.pdf?fbclid=IwAR33d4PL8kf5SObvLggjKn-N2tfVNHPpeYOHq_ApglXrZRsZLyLARO4dJbo_aem_ASCHm8EIltMc0r45pZZzFtlpnbZOzann7q0iackY3397M5wru9ddLuRlc646ft7TmpBN5T6NEtMr5uf8prWqLAYL
👉👉👉COOP BOD wants to "...COMPOUND tangible BOOK VALUE at a DOUBLE-DIGIT PACE..."
The COOP BOD said at the 4Q'24 earnings call on Feb. 9, 2024:
But we will work diligently to compound tangible book value at a double-digit pace which for us is an exciting prospect.
Thanks RD.
JHD
Reiko- I agree with you on the statement "Those who signed their release(s) became eligible to receive a distribution, per the GSA, and were also given the right to receive any potential future litigation proceeds."
However, it looks like since Class 18 was not made whole, they will receive all the 'future litigation proceeds' BEFORE Class 19 and 21 see any additional compensation. There could be something from Libor, but wouldn't Class 18 take it all ??
Please explain
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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.
AI
