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👉👉👉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
The formula has have already been done in the DTCC formula value 19:1 for $59,327.12 for a share of DTCC IMO
"All payments for purchases and sales of Common Shares will be settled on the Settlement Date, which is
currently anticipated to be April 30, 2024. "
"10. How much will each Participant have to pay, on average, to hold Common Shares?
The Share price for the 2024 reallocation is $59,327.12 per share. This Share Price was determined using the
formula set forth in the Shareholders Agreement.
The actual amount of Common Shares that each Participant will own is determined by its respective use of the
services of the Clearing Agencies, and whether it is a Mandatory Purchaser Participant or a Voluntary Purchaser
Participant."
Read
https://www.dtcc.com/-/media/Files/pdf/2024/4/1/MBS1317-24.pdf
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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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