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By the end of April you will have your and cactus assumptions answered or you will be coming up with new theories…..big money coming soon in 2050….
While big dog is no longer a secret..”The Big Dog" ... (XXXX)”. Just say it by name…..tell everyone how great an investor you are to buy single digits and sell 46-50……than state you no longer had any shares of coop to now you still have a bunch of shares….as the pps goes beyond you 50.00 mark…..
~ Kilshaw, Not Specific only to "COOP", ... Not My Research ! !, (Thanks to Another) ... However, IMO', "Applicable" to OUR Own WaMu Process, Our "Segregated" Submitted Releases' and W-9's Submitted to OUR Brokerage Accounts, Maintaining OUR ... "Specific Ownership to a released, P' a K' or ... or wamuq Ownership" ... "Tracking Markers" ~
"book-entry securities are to be transferred from the account of a DTC participant to the account of a Clearstream Banking SA participant or a Euroclear participant, the purchaser must send instructions to Clearstream Banking SA or Euroclear through a participant at least one business day prior to settlement. Clearstream Banking SA or Euroclear, as the case may be, will instruct its U.S. agent to receive book-entry securities against payment. After settlement, Clearstream Banking SA or Euroclear will credit its participant's account. Credit for the book-entry securities will appear on the next day (European time)."
The escrow positions in our account history will be reactivated soon. Libor is looming and will likely be the first avenue of several payment possibilities.
This looks like a great year for our escrows.
Pliss, And and and don’t forget the massive amount of $$ all naysayers are earning, putting in all those extra hours and on weekends !!!
I held various classes of Lehman Brothers (preferred, equity, and hybrid CTs) and CUSIPs for several of them were no longer showing in my account, but recently, they returned and it says "possible future distribution."
Is this what we may see happen with our disappeared WMIH CUSIPs?
The reason is because of the massive distribution we're going to receive, soon, from LIBOR and for our Escrows. (sarcasm)
JPMC now doing massive hiring of wealth management staff. Gee, wonder why???
CAL... it depends whether one submitted W-9 or not?. Book entry?.
Yes wealth management company’s contacting escrow holders…..really….credit card offers are not wealth management
I have been busy for the last week ,but noticed the low vol. has it been trading in this range and time last week TIA { disregard the question)
Date Open High Low Close Adj Close Volume
Mar 22, 2024 76.90 77.10 75.52 75.57 75.57 298,400
Mar 21, 2024 77.16 78.19 76.80 77.03 77.03 476,300
Mar 20, 2024 73.97 77.00 73.87 76.38 76.38 546,700
Mar 19, 2024 72.53 74.29 72.53 74.26 74.26 416,500
Mar 18, 2024 73.25 73.69 72.00 72.87 72.87 739,200
Low vol. last Friday
GLTA-Ts
JPMC now doing massive hiring of wealth management staff. Gee, wonder why???
Our greatest week is here. The beginning of the end. June 1st show me the cash. Our Brokers need to lend us money. Truth or dare?
"
Item?8.01.
Other Events.
On March 21, 2024, JPMorgan Chase & Co. issued a press release announcing that on April 30, 2024 it will redeem all of the 1,000,000 outstanding depositary shares, each representing a one-tenth interest in a share of JPMorgan Chase & Co.’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series U (the “Series U Preferred Stock”), and on May 1, 2024 it will redeem all of the 1,500,000 outstanding depositary shares, each representing a one-tenth interest in a share of JPMorgan Chase & Co.’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series Q (the “Series Q Preferred Stock”), all of the 1,500,000 outstanding depositary shares, each representing a one-tenth interest in a share of JPMorgan Chase & Co.’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series R (the “Series R Preferred Stock”), and all of the 2,000,000 outstanding depositary shares, each representing a one-tenth interest in a share of JPMorgan Chase & Co.’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series S (the “Series S Preferred Stock”), in each case pursuant to the optional redemption provisions in the documents governing such depositary shares and the Series U Preferred Stock, the Series Q Preferred Stock, the Series R Preferred Stock and the Series S Preferred Stock.
A copy of the press release referenced above is attached hereto as Exhibit 99.
Item?9.01.
Financial Statements and Exhibits.
(d) Exhibits
99 JPMorgan Chase & Co. press release dated March 21, 2024.
https://www.sec.gov/Archives/edgar/data/19617/000119312524073915/d807652d8k.htm
Split T, so the brokers Senior VP has been ‘romancing’ you for the past 4 months ?
This is great news, really. Thanks for sharing. I hope they don’t ask you out on a ‘date’ with all the romancing lol (these days you never know)
GLTA
a Senior VP of Schwab was assigned to our accounts and has been in contact with us for the past four months out of the clear blue. The Brokers will know months ahead of us when an event is to take place. In the past few years several posters have said that the Brokers would romance those that had worthwhile amounts of Escrow shares, I received an email three weeks ago from a close friend that an account executive with Schwab had contacted him.and he is receiving like attention. Neither one of us do significant trading but we do have one thing in common, Escrow shares and our original COOP shares which we have both added to over the past 2 years.
~ John, the Truth "Is" as I've posted', ... I USED Coop, ... like any other tool made available to correct' ... I hit it hard, and rode it UP from the single digits, 2018 and forward, to recover ALL of my WaMu expenditures' and original WaMu financial participations' ... So, the COOP' shares that I've kept, and all of my Released Participations in the WMI Holding Company's Reorg, ... as well as my Direct Ownership of WMB Bonds "DIRECT Purchased" after the Reorg and Prior to the "Globic" Settlement Completion, ... Are Now without negative or any lost' ... Costs' ... ~
... as far as "COOP"s continuation as a tradeable public company ? ... As Simply an SEC Allowed "registrant", merely being used in lieu of a MUCH LARGER CORPORATE PICTURE, ... as Well as it's own descriptives as an SEC Filed ... 2018 Acquired Loan Servicing Mechanism ? ... is NOT Impressive To Me' as a straight up money driven investor ... So, sorry old friend, but currently, this ol' cactus could not care less about COOP, and all of it's POOP reporting ...
... Big Dog Is Coming ... and this Cowboy "Released" to OWN the P,s (Bonds) ... K's, ( ? ) ... and the wamuq's (Common Share Corporate Ownership) ... Yes, Ownership of the Original Holding Companys "equity classes" ... now, its become the ... "The Big Dog" ... (XXXX) ...
I'm, sure regarding the WMB Bonds. the released P's as well as ownership of the released wamuq' common shares ... Watch Boris' regarding the FDIC's Completion ... He's On It
I Like The possibility's aligned with COOP's repurchase of the necessary 36 million shares' ... A Big, Big, Thanks to JB92106 and DarkB4Dawn ... for their numbers reviews' ...
Have A Nice Day ! !
just sayin'
AZ
From your lips to God's ear!
Hope this saga ends soon my friend!
Enjoy that car this spring - no TICKETS!
WaMu Timeline Narrowed Plus Some Potential Triggers
KISS - WaMu Distribution Timeline Narrowed - WaMu + (Little Bitty) UWBKQ + Lehman + XOME Are Key Dots/Cases To Connect
(Keep It Simple Stup..)
A) Libor Resolve MAY Equal Distributions and/or 2.5% to COOP for a type of settlement
B) AND/OR UWBKQ/WaMu Receivership Resolve MAY Equal Distributions
[C) XOME-Discussed monetizing...Likely Tied up in a DST Owned beneficially by investors who signed timely releases by 3/2012...COULD MEAN SHARES to timely signed releasors by 3/2012
[D) The distribution timeline answers are tied to the aforementioned especially XOME in my view
...
Thanks AZ. Do you think COOP will still be a public company? Or will it be rolled into the new structure?
Semper Fi
TO ME, SEEMS VERY LIKELY TO HAPPEN ALMOST ANY DAY - RECENT COOP FILING – THE PUZZLE NOW FIGURED OUT – JUST MAYBE
https://archive.fast-edgar.com/20240318/AS2E422CZ22EI2Z2222P2CEZA7GSZZ62B262/
JUST maybe with the help of BBANBOB plus some others who agreed with us like Cura Asada, Dmdmd1 and others that the COOP merger with NSM was not totally completed and POSSIBLY there is a positive finale. At least until they issue the owners of the former WaMu Estate who signed timely releases by 3/2012 shares.
These same investors just mentioned also agree that COOP does NOT own XOME entirely, as for years they have talked about monetizing XOME worth roughly one to two billion. Strange, after multiple years they cannot monetize XOME and we have said this is because COOP does not own XOME entirely until they finish issuing the shares. More than likely this ownership of XOME is tied up in a DST owned (75/25) by those investors who signed timely releases.
***NOW LET US LOOK AT SOME NUMBERS***
• Post COOP 12-1 RS around Oct/2018, the outstanding COOP shares became roughly 100M
• The recent filing above shows around 64M COOP outstanding shares after a multitude of COOP buy-backs
• The difference is now 36M shares of COOP which MAY BE owned by timely signed investors
• If these 36M shares (36M + 64M) are given back to timely signed investors, then this takes the outstanding COOP shares back to around 100M but lowers the COOP price to roughly $50.00 a share based on current prices of around $72.00
• Now we have heard that XOME should be worth around 2B or so, NOW figure in 2B ($20.00 a share) on those 100M outstanding shares and WOAH back to $70.00 plus a share
• NOW figure the 75/25 ownership on the 36M shares and guess what you have roughly 27M shares for the Preferred and 9M shares for the Common
• The other thought is there are ten million authorized and shelf-ready preferred shares that can be issued on a minutes notice that has been part of the plan since the (ED) Effective Date of 3/19/2012 so ALL 36 M common shares could go the the investors who released common share and the preferred investors receive 1-1 preferred which explains why the UWs want into class 19 so bad – yes, this is their expertise and they have always known the specific class the big money was to be recovered from…CLASS 19
• IF COOP issues 36M common shares at $71.00 per share that is 2.5B so if they give this to common shareowners that is roughly 25% of a POSIT of ten billion and they back preferred with 7.5B funding for a total of ten billion POSIT. NOW if COOP gets 2.5% of the 635B that Congress spoke about around year 2010/11 that means COOP gets 15.87B so with the ten billion funding of preferred and commons 36M shares at $71.00 it leaves roughly 5.6B for their own coffers driving the COOP common much higher
• Hopefully, these shares are coming soon to a timely-signed-released account near YOU
...
~ Ones' Original Release to Participate, and PROOF of the Individual Classes of Ownership, of the WMI Holding Company, were submitted along with a W-9 to Ones Individual Brokerage or Bank ~
... my friend' was in charge of the wmi-lts "checkbook" and issued ALL distributions issued and approved by the wmi-lt ... ALL OF IT' ... the wmi-lt is DONE
... Now, the TRUE Corporate Structure will take the Lead' ...
this has never been simply about ONE operational sub ... acquired in 2018'
WMI's Released P's "Bonds" ... are specific to the original WMI Sub, ... the Preferred Managing Sub
WMI's Released Original Common Shares, uq's, ... are the Original Owners of the WMI Holding Company' itself ... and That Has NOT Changed' ...
just sayin'
AZ
~ COOP's Future ?, is to be recognized, or should be recognized, within its true 10-K limitations as a 2018' acquired servicing mechanism Sub Grouping .... This Cowboy, ol' Cactus, ALWAYS Used The Term "Tracking Markers" ... the wmi-lt's use of the same' counting mechanism for its own Court Ordered completion process, is' NOW DONE', "COMPLETED" ... as was reported to me by an involved friend, ... the wmi-lt Was important only to the level of the completion of the WMI Holding Company's Reorganization and its Liquidation Trust ... the wmi-lt ~
NOTHING, associated with the NOW COMPLETED wmi-lt is relevant ... NOTHING ... the wmi-lt is DONE' ... none of the continuously referred to as its 8k's, its pr's, the 75/25 ratio's, retained earnings ? ... etc. etc. ... are currently applicable to any forward movements, coming soon' now ... NONE OF IT" ...
"Tracking Markers" for a submitted release to participate in the WMI Holding Company's Reorganization, (7) ... ARE SPECIFIC TO ONES CHOICE OF OWNERSHIP ? ... And' ... HAVE NOT BEEN REMOVED' ...
just sayin'
AZ
👉👉👉"...our STRATEGIC FOCUS is now SQUARELY on RETURN ON EQUITY..."
...said the COOP BOD at the last earnings call
See: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173821650
Split t, yes escrow holders are starting to get contacted for wealth management and sweep accounts too. Why now? You know why.
Things are starting to finally happen. Libors likely the first salvo. The brokers may offer loans if future payment dates are established so we can get money asap. Its a beautiful thing.
Congrats to those who released. We might have quite a year.
We All Release With a Form W-9.
W-8 for other international investors.
We released JPM for “Willful Misconduct” using a IRS filing document.
IRS not WMILT.
The IRS has our documented Release.
Our current broker is only the tracker for the “Willful Misconduct” released form W-9 submission we filed.
If you submitted your W-9, -8 then you are a holder of WMI claims.
Ron
Boris, That is good Advice....All of our shares were in Street name for the most part with the exception of our Pre holder buddies and for sure the Brokerage firms have your personal information and will attempt to track you down even if you have closed your account. If they cant locate you they will place your funds with your State Treasuer. My original broker was Scottrade and the copies of all my releases and IRS forms that I signed when I released were passed on to TDA and then to Charles Schwab as they have a fiduciary duty to maintain those records.
FWIW.....That is the least of my worries as a Senior VP of Schwab was assigned to our accounts and has been in contact with us for the past four months out of the clear blue. The Brokers will know months ahead of us when an event is to take place. In the past few years several posters have said that the Brokers would romance those that had worthwhile amounts of Escrow shares, I received an email three weeks ago from a close friend that an account executive with Schwab had contacted him.and he is receiving like attention. Neither one of us do significant trading but we do have one thing in common, Escrow shares and our original COOP shares which we have both added to over the past 2 years.
Good luck to all that have held steadfast and remember WMI only placed enough assets in the Reorganization to pay off the bond holders and related expenses. Those that say otherwise are only telling half truths and are not your friends. I personally expect to see significant gains in 2024. Best pf luck to all of you that had Escrow shares and had sense enough to sign releases.
Split t
Cal62. You dont post much so let me enlighten whilst under attack:
Your concerns are unfounded. Do you think the hedgies threw their hands up and said, Oh wtf....who cares that we lost 7 billion dollars. No big deal.
Trust me, behind the scenes they are all over this. They have the resources and staff to go toe to toe with the Fdic, Dimon, and anyone else. Remember coattails?
Also, I suggest you search back through Whatthe's most recent post. Yes, the LTs markers are gone. But our escrow POSITIONS are not! Got it? The court, Kcc and Computershare have the lists. Your broker has your escrow info in your account history. Take a look. Its all there in black and white. Dont listen to the jpm investors here. Your escrows are fine.
Now, its up to us to keep our personal info in our broker acct current. They cant follow after 8500 people and wipe our butts for us. Its our responsibility to keep our profiles up to date.
So we are fine. If we get paid they will find you and your W9. Relax.
Now, I am going to sit back and watch the barrage.
He just replied to you recently but he never told you who XXXX was……he is still not telling you anything….just more riddles…
CAL,
Yes, asked and answered back when the Escrows disappeared. Searching for "escrows disappeared" or the like should find many posts and answers. Basically there are many historical records of what escrow existed both with Brokers and the Bankruptcy documentation from when the Escrows were first sent out.
distro.
I apologize upfront if this has ever been answered. For Sits and giggles, let's say that somehow there is some distribution at some point. How on earth would anyone ever be paid? There are no markers in our accounts. There is no place (to my knowledge) to update addresses like there used to be with WMI for a few years. Theoretically, would people have to go back and provide actual proof of ownership with old documents (that I suppose many no longer have)? Thanks
I apologize upfront if this has ever been answered. For Sits and giggles, let's say that somehow there is some distribution at some point. How on earth would anyone ever be paid? There are no markers in our accounts. There is no place (to my knowledge) to update addresses like there used to be with WMI for a few years. Theoretically, would people have to go back and provide actual proof of ownership with old documents (that I suppose many no longer have)? Thanks
Picky, why do you want me to ask him ‘your’ questions ? This is an open forum.
Or do you think he does not feel you are worthy of a reply ?
Quote: “Everyone that has maintained their ownership of their WMI Holding Company's 2012”. Why not ask cactus has he maintained his worthless shares that were removed….funny deemed worthless….oh wait he claimed they could not be removed….also claimed the appeals delayed his distribution….here we are 2024 still no distribution…..I am sure he will claim other’s dd as his own…
Roger that PICK... or... COOP...
AIMHO, STRIKE
That is why you buy JPM stock…
Guess who gets paid first except for Brian Rosen?
Monday 3/25 Lake/52,504 shares Dimon292,667 shares Guess who gets paid first except for Brian Rosen.
Non Interest Bearing Notes
M 3/25 Medium Term Notes Series A paid quarterly starting June 1,
T 3/26 Medium Term Notes Series A paid quarterly starting June 1,
W 3/27 Medium Term Notes Series A paid quarterly starting June 1,
Th 3/28
F 3/27 Medium Term Notes Series A paid quarterly starting June 1,
4/1 Medium Term Notes Series A paid quarterly starting June 1,
4/17
4/18
5/24 Alerian- Payment MLP index ETF
190,306,100,1000 notes $ 2,265,356,590
4/30/24
5/1/24 JPM redemption of U,Q,R,S to be paid over 11-17 months
6/1 all of the series A Bonds to be distributed payments quarterly
What I meant before in my post is that I will support this idea. I will not do this forever. We may have to admit that they have stolen from us. I am still hoping for a final payment. Peace to all and have a great Easter.
Hi AZ, by your following statement below, I guess you meant , folks who released and got markers in their accounts in 2012, but may or may not hold those converted COOP shares in their accounts as of today, right ?
TIA
Good Luck to Everyone that has maintained their ownership of their WMI Holding Company's 2012' Reorganization's ... Released Common Shares ! ! ... wamuq's ..
No one has told you to leave….
Bill I meant nothing by saying I will step away. I said it more to the doccs and dd that I have delivered that we are so very close. Those that care aboult me here I feel the same. The way in which we get paid has been a real reveal and look forward to the next 3 months. I was not seeking simpithy or compassion. Love to all
Royal there is no need for you say or feel that way about your post! You don’t owe anyone here anything or an explanation of what can happen! There’s too many powers that can effect what happens to our escrow accounts and when they finally settle this!! Thanks for your inputs here on this board!! Gltu
Wonderful wish!
If get fully paid I will not worry about 1% loss. Waiting such a long time.
Not for old wmi escrows..
If this is not us, I will withdraw because we have been stolen from.
"Exhibit 99
JPMorgan Chase & Co.
383 Madison Avenue, New York, NY 10179-0001
NYSE symbol: JPM
www.jpmorganchase.com
LOGO
News release: IMMEDIATE RELEASE
JPMorgan Chase to Redeem Four Series of Preferred Stock
Represented By Depositary Shares
New York, March 21, 2024 – JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) has announced that on April 30, 2024 it will redeem all of the 100,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series U (“Series U Preferred Stock”), and on May 1, 2024 it will redeem all of the 150,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Q (“Series Q Preferred Stock”), all of the 150,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series R (“Series R Preferred Stock”) and all of the 200,000 outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series S (“Series S Preferred Stock”). The shares of Series U Preferred Stock are represented by 1,000,000 depositary shares (CUSIP: 46625HJW1), the shares of Series Q Preferred Stock are represented by 1,500,000 depositary shares (CUSIP: 48124BAC9), the shares of Series R Preferred Stock are represented by 1,500,000 depositary shares (CUSIP: 48126HAA8) and the shares of Series S Preferred Stock are represented by 2,000,000 depositary shares (CUSIP: 46625HJQ4). Each depositary share represents a one-tenth interest in a share of Series U, Series Q, Series R or Series S Preferred Stock, respectively. The redemption price per share for the Series U, Series Q, Series R and Series S Preferred Stock will be $10,000 (equivalent to $1,000 per depositary share).
Payment of the redemption price for the Series U Preferred Stock will be made on the redemption date of April 30, 2024, and payment of the redemption price for the Series Q, Series R and Series S Preferred Stock will be made on the redemption date of May 1, 2024, in each case upon presentation and surrender of the depositary receipts evidencing the depositary shares to be redeemed to Computershare Inc., as Depositary, at 150 Royall Street, Canton, Massachusetts 02021. Depositary shares held in book-entry form shall be surrendered in accordance with applicable procedures of The Depository Trust Company.
April 30, 2024 will be the final dividend payment date for the Series U Preferred Stock and the depositary shares representing the Series U Preferred Stock. The record date for that dividend is April
Investor Contact:
Mikael Grubb
212-270-2479
Media Contact:
Joseph Evangelisti
212-270-7438
1, 2024. In addition, May 1, 2024 will be the final dividend payment date for the Series Q, Series R and Series S Preferred Stock and the depositary shares representing those series of preferred stock. The record date for those dividends is also April 1, 2024.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.9 trillion in assets and $327.9 billion in stockholders’ equity as of December 31, 2023. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers, predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
# # #
Investor Contact:
Mikael Grubb
212-270-2479
Media Contact:
Joseph Evangelisti
212-270-7438
Most of us are posting from that very spot...we thought you knew.
Ray
ALso if IF IFIN I remember correctly it actually stated 75% for PREFERREDS EQUITY INTEREST(S) as in plural as in MULTIPLE ISSUEs (P's TPS K's) EQUITY INTEREST(S) and then went on to declare COMMON EQUITY INTEREST not plural
THis individual plays WORD SALAD worse or at least as bad a KAMALA
I still can't wait for the day when all of the CLASS 19 holders can do a bit of reverse math and see EXACTLY JUST HOW MUCH THE 1% the UW's got that they should NOT HAVE GOTTEN , will cost each and everyone of the CLASS 19 holders
Lets say 2,4 X's face comes back here that is $2,400 per P and losing 1% cost each P holder $24 PER P, so ifin ya held 1,000 that is a whopping$ 24,000.
NOW let's say it does ever get to her 68K$ per P in 10 yrs that would be $680 PER P and X's your 1,000 P's that is $680,000 PER P
OH and this individual keeps telling everyone how she held up the distributions, WELLLLLLLLLLLLLLLL
Her case was I believe in 2019, so where has she held anything up at alllllllllll since we sit at 2024
Where is his GUARANTEED 24 bill $$$ April TAX returns that WAS ASSURED AND GUARANTEED IT WOULD TAKE PLACE?????
Not sure….right now….class 19 & 22 are not getting anything…there are theories being thrown around from cactus…and the combo of largegreen and bbanbob that money is coming back soon….we have all heard that ever since the coffee lady failed attempts of her appeals for 1%……it was just a fubar in the end because her real goal was to get paid millions for just the attempts….by May 1st you will know if Libor and cactus theories are just that poor theories
Ray
PREFERRED EQUITY is IS IS 75% of the payout matrix per an 8k and PR from the company which indicates all prefrd equity
THe suggestion K's won't be paid is done to goad me imho
If class 19 gets anything why Ks will not get a distribution? Strange.ks belong to the same class.
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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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