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Botchberg's was a stick in the eye for equity......There was not one thing good that came of it and equity was ready to sue him for the crappy analysis he did but was protected by the judge and collected his money and left......
Az, If they sell WMMRC and that goes to escrows. What benefit except the 2.5% coming back to wmih would the new company have?
~ 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
look again 5/10 of a penny
here is something pocket jokers might be interested in
https://www.thenation.com/article/how-americas-biggest-bank-paid-its-fine-for-the-2008-mortgage-crisis-with-phony-mortgages/
No doubt, ready to move on any day.There is one thing that WMIH has to do in my view and cannot wait PAST Halloween 2017 and that is at least an update on the funding. Replacement, shutdown of WMIH or a QA.
They have to at least provide an 8K filing showing what they are going to do with this publicly traded company WMIH-Corp.
~ LG, I Doubt That WMIH Wants Any Of This ~
WMMRC' was simply a necessary part of the original process' consideration' ... WMMRC was kept functioning, due to the fact that there were concerning Loans' that had not been packaged into an ABS-Cert` at the time of the seizure' ...
... Loans that required PMI Insurance are usually crap to begin with' ... But, JPMC got to service the whole WaMu load' ...
The Original WMI remaining PMI Insurers within WMMRC, (4 of 7 now remain) needed to be kept active upon the 09/2008 seizure, while JPMC continued to service the loans that originally needed PMI' Insurance' ...
... NOPE' ... WMIH-Corp, paying anything for WMMRC would be a stupid forward moving financial decision' ... If I were to take a stab at this ? ... I would say that JPMC got this load of WMMRC crap, along with WMB' the bank' ... and JPMC paid' for whatever is remaining in there' ...
heck, the original insurance securitization bond, which has been held in HI' the whole time, is worth more than WMMRC at this point in time anyway' ...
heck, WMIH-Corp, ending up getting a couple of bucks for WMMRC plus the return of the original WMI bond' ... ? ... and' ... Turn The Page on that'
AZ
to who and for how much? hope, not just a lousy buck.
If you buy it then close at $1.00
always tomorrow never today?
Face it, the 6.5 million shorts will be toast if they don't cover before positive M&A news come out. The announcement of a definitive agreement for a qualified acquisition would render the shorties bankrupt if they did not cover before...
AZC, you said "The plan to sell off WMMRC' is just exactly what was originally submitted to the Court, in the Plan 6' and its design' submission' "
***Now for a platform...DOES WMIH-CORP buy this from the former estate which is now owned by those who signed timely releases by 2/2012 for say around one billion to one point five billion then start up the reinsurance division again along with banking***???
YOU have to OWN to be able to DUMP!!!!!!!!!!!!!!!! WHERE do you get the we, could count the shorts on this board on ONE HAND.
SEC will soon close this SCAM down
~ LP' Yes Or A Pre-Determined Decimal Residual ~
The plan to sell off WMMRC' is just exactly what was originally submitted to the Court, in the Plan 6' and its design' submission' ...
So, Now that the P&A Agreement has been completed (per the FDIC site), between the FDIC & JPMC, ... and the transition of WMB has now been completed ... ? ... WMMRC in "Run-Off" (mode) is NO LONGER NEEDED' ...
Now, As well as the associated WMMRC "Debt" which needed to be paid off First' ... again, as was announced as completed, last Friday 09/29/2017'
In My Own Opinion ?, This is all good, very, very, good' ...
... We' ... should ALL know quite soon now'
AZ
Hotchberg's statement regarding WMB's loan file.
Delaware BK System-Large Cases-Kmart Now WaMu
Hotchberg's statement regarding WMB's loan file.
"39 Equity undertook a preliminary solvency analysis based on the limited information made available by the Debtors. Equity noted that a final analysis of solvency would require a detailed review of WMB’s loan portfolio, which is not available to Equity and was also not reviewed by the Debtors. The Examiner in this Report has an analysis of solvency, but he also did not conduct a review of the loan portfolio."
_______________________________________
*The Holy Grail*RETAINED ASSETS*YOUR HONOR*They Will Still Be There
The legal group Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine.
We also have in there the part (b) of what is to be retained, and that is because in
negotiations that we had with all of the settling parties, with the equity committee
last week, with the FDIC, we did talk a great deal about the concept of the retained
assets. Now, it's my position, Your Honor, that the examiner doesn't need to know
much with the retained assets other than say the assets are retained and therefore
the liquidating trust can go ahead and pursue them. They will still be there; they
can be carried through. But I understand that the equity committee is very
interested in having a neutral third party do an investigation of those retained
assets.
________________________________________
WaMu Bankruptcy Case VERY Similar in Principle to Kmart
Many of us have understood one could not have large style money coming back during an active bankruptcy case as this would be totally illegal and cause gargantuan lawsuits by the truckloads.
However, it is how this case is played and closed such as during the final POR 7 signed on 2/23/2012 that issued Escrow Markers to those that signed timely releases by the deadline as well they were issued NewCo/WMIH stock that make the difference.
We will see the bankruptcy closed out with minimal monies IF ANY monies coming back and it could be that Piers final payment MAY NOT be made and leave Piers impaired. So therefore, no LTIs issued however, those who have the Escrow Markers will see the LARGE STYLE monies once the bankruptcy case is closed in my view.
This is similar to how Kmart worked even though all of their share-owners were zeroed out. Kmart did not show their real estate value until the NewCo issued shares and moved forward, their case closed and then the value of the former real estate was valued in each following quarters moving forward. This propelled NewCo Kmart stock up from $25.00 to $171.00 a share over the ensuing 18-24 months.
In principle, the same will happen here when the Safe-Harbor assets are reunited with Escrow Shareholders. This is my view of how this proceeds.
The aforementioned is why I love my Escrow Shares so much that continues to grow immensely every single day forward!
No way will this be a 1.00 at close that's when we all.dump
AZ, watch the price end at $1.00 today. I think you are right. I have a feeling about merger on monday.
***CBA09***Thank you for one of the most simple and common sense posts ever***
***I WILL REPOST CBA09s post so this soaks in***
Shrew professional investors here. Those initial & ensuing Hedge Funds did not invest and release on guess work. Rather a keen understanding of what assets and rights to assets that will prevail beyond the reaching powers of bankruptcy.
It seems many here are down to a glimmer of hope, from once having high hopes. I have been primarily silent. Why!?! No need to focus on the daily PPS. It is of no concern to me.
Do you believe these Hedge Funds & Institutional Investors are concerned with the the daily PPS? Of course not, they are inured to its daily movement and the postings on this Board.
Those who have their ticket punched, namely releases, take note that you are joined in the company of those in the know. Knowing the "Final Outcome."
Key here, I strongly contend, is outside the waterfall. So those assets shielded from the Trustee's reach as follows:
1) SPE / Trusts assets ( The parent is WMI )
2) Abandonment of Stock. ( As any future value goes to WMI and not included as an asset of the estate).
***NOW FOR ONE QUESTION***
Now you know why...BUT...Have I told you lately how much more I love my Escrow Shares that continues to grow immensely with every single day going forward?
Pocket9s' - JPMC is a much larger criminal enterprise
"THEY HAD NO CHOICE BUT TO SEIZE US NOW THEY MUST PAY US FOR IT"
There was/is a choice, DON'T USE A CRIMINAL BANK as the 'US BANK'.
~ IMO, WMMRC Is Being Sold Off ~
IMO, ... The WMIH-Corp(s) PPS is being purposely held at the March 2012, exit into reorganization $1.00 level ...
The remaining WMMRC, debt was paid off last Friday the 29th of Sept
WMIH-Corp,(s) move forward will be the ... Tell’ ...
AZ
No. Read this, especially the last paragraph on page 1:
http://www.kccllc.net/documents/8817600/8817600170531000000000001.pdf
DA BOYZ are doing a good job keeping this below the $ threshold and quietly accumulating shares.
Many will not hand too long if this stays under a $ and this is exactly imho what they want and are attempting to do, and as it gets closer still to the 30 day mark it may go even lower still ,but IMHO this will turn on a dime when it does...............IMHO only
This has been said before , but I think it needs to be said again....
The seizure of WAMU to float JPM's boat and in turn the """WORLD FINANCIAL SYSTEM""" had to take place as it did period!!!!!!!
Yes it has caused great pain an a huge financial lose to those involved directly like employees or investors like us.
But on the flip side of that coin THE WORLD WOULD STILL BE IN HAVOC had this not taken place the way it did........Unemployment would be unreal homes would be empty all over the place from foreclosures, ritos in the streets and this list could go on for pages!!!!!!!!
Now in the same breath I think it was agreed upon (MY WAG) that all involved knew this and that the GOV via the FDIC have HAVE HAVE agreed to in the end make this right for the TAKING of the bank and the 5th and fraudulent conveyances both of which I said up front within days of this seizure would be involved............
If you do not believe there ws some SIDE AGREEMENTS HERE then answer WHY we have a filed JURY trial demand, TOLLING agreements and HAVE NOT RELEASED the FDIC in any way from or fashion?????????
CAN YOU SAY THE "HAMMER OVER THEIR HEAD TO PERFORM AS AGREED TOO"
And since the true loss here was the VALUE of the WMB @ 24 bill imho the fdic agreed to either pay RICO value 3X's for those issues they broke the law on or very very close.
In short if this goes down as I suspect any here that were here in the last years of WAMU and not in it when it was 47$ but in the last 2 or three years, will probably make out as good or better.......
NOW all that came here POST imho and that hold POST shares in the pennies are gonna make OUT LIKE BANDITSSSSSSSSSSSSSSSSSS.
I have seen as other have docs that show as much as 58 bill directly credited under WMI name in different investment vehicles prior to the seizure, then throw in FDIC's penalty and we be good
ALL in my rose colored glassed cliff notes version
THEY HAD NO CHOICE BUT TO SEIZE US NOW THEY MUST PAY US FOR IT
Glasses need changing?? look to right & up 2 & 1/2 cents==NICE TRY!
MAKE that 3 cents now!!
Average volume 336K & already passed that.
Sir we are currently up 2 pennies
BS if something is coming, wouldn't be up and down one tenth of a penny
Wrong again take a look into JPM's sorted past causing the Depression, then look at what they did here and they are still here...........
Sorry falling on deaf ears
something is always up but nothing ever materializes.
Shiffty were those BOUGHT as a whole complete deal BHC/BANK
sorry but in this instance I do feel it would be very difficult.......
Let's do it this WAY EVEN THE FDIC SHELIA DIDN"T GET WHAT THEY THOUGHT THEY WERE GETTING and they had the skinny on this deal for some time in advance....................Had they SHE WOULD NOT HAVE GONE IN FRONT OF CONGRESS pleasing for retroactive powers over banks held by holding co's, so I would say it was pretty hard to know WHO's WAS WHO's, or she would have gotten all she wanted and didn't
Volume doubled in the last half hour.. something might be up imo..
That's right pocket9s WMNU saved JPM! You bet they did!
Very good post BBNB.
Money from the paid second lien notes moving into WMIH now?
Actually, you're wrong about that too. JPM was far worse...that's why we are here. I think it has a little something to do with not having the financial face of the country to fail. And fail they would have if not for the cannibilisation of a SOLVENT WAMU.imo
WAMU was the worst.
has been very hard to disseminate who's was who's here or where it went................
Hard, sure. Not as hard as they make it all out to be... Banks merge, are bought and sold all the time. I lived/worked through a few. It didn't take NINE years to get our numbers right. Or even SIX, that they've had since releases. Or even Two...And they were large banks. Nothing takes nine years. This settlement/investment is crooked to the core, and our own Reps, who were supposed to protect us from this nonsense, keep us informed, run out the back door.
I've posted the below on the smart board lately. Inept/corrupt? Both?
DEFINITION of 'Unsuitable (Unsuitability)'
A situation where an investment strategy does not meet the objectives and means of an investor. In most parts of the world, financial professionals have a duty to take steps that ensure that an investment is suitable for a client. For example, in the United States these rules are enforced by the NASD.
Where are our Professionals? The one's that structured this atrocity of a settlement/investment. (A&M, Weil,Sussy,Hammer,etc..)
Ref: SO will they just magically make the Escrows worth something then?
Comment:
Shrew professional investors here. Those initial & ensuing Hedge Funds did not invest and release on guess work. Rather a keen understanding of what assets and rights to assets that will prevail beyond the reaching powers of bankruptcy.
It seems many here are down to a glimmer of hope, from once having high hopes. I have been primarily silent. Why!?! No need to focus on the daily PPS. It is of no concern to me.
Do you believe these Hedge Funds & Institutional Investors are concerned with the the daily PPS? Of course not, they are inured to its daily movement and the postings on this Board.
Those who have their ticket punched, namely releases, take note that you are joined in the company of those in the know. Knowing the "Final Outcome."
Key here, I strongly contend, is outside the waterfall. So those assets shielded from the Trustee's reach as follows:
1) SPE / Trusts assets ( The parent is WMI )
2) Abandonment of Stock. ( As any future value goes to WMI and not included as an asset of the estate).
WHAT MEGA BANK WASN'T OR ISN'T, even still? JPM WELLS DB GS MS
Now you and you're attempts here ARE FALLING ON DEAF EARS ifin ya aint fingered that out yet, so just save it
So it will be amended an carry forward to a unknown date correct
Yes it IS torture but we all must take into consideration that THE DB/JPM BS just finished and the RONs JUST PAID OFF..
I have been of the belief this had HAD to finish before we could mover forward.
And if you look at all of this realistically it truly has only been 5 yrs, STILL A VERY VERY LONG TIME, BUT this was a VERY VERY VERY LARGE CONGLOMERATE and I am sure has been very hard to disseminate who's was who's here or where it went................
I am guessing based on these latest actions that progress is NOW UNDER WAY and we should start SEEING movement to really close this thing down
WHAT is IT==????? NOT down a full penny yet today & you & REAL get your panties in a WAD!!
it is still worthless
just over 3 months old.
6/30/17
I get your point, but when you exaggerate and call it 6 months, you undermine your own argument.
Jest
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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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