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Yes and by pure logic we know that on each of these highly active influential boards holding billions of dollars for someone there are detractors.
Voldemort is not going to say he is a detractor nor will some of the others however we know you're here. Oh and detractors are not truth tellers.
Picky, You mean AZ talks to himself pretending DL is standing next him ?
👉👉👉Only 4 BUSINESS DAYS until COOP Q1 earnings on April 24 (pre-market)
See: https://www.businesswire.com/news/home/20240404446961/en/Mr.-Cooper-Group-Inc.-to-Discuss-First-Quarter-2024-Financial-Results-on-April-24-2024
Good morning people,, jb9 Maybe ol’Cactus just likes jerking the chain every once in a while to get his jollies off, hey no skin off of my back but! it has left scares on others as you can read lol., otherwise why say/post what he does when he does these days hehehe
On another note, COOP-OTIS has and isssss doing fairly well and will be interesting to watch in the upcoming days once again
GoGooooooCOOP Have a great day people GLTA -Ts😉
Pretty soon….it will also be proven that Doreen is only a one sided friendship and it is cactus….
JB, I think he shared enough info even for anybody with 1/4th of a brain, to put 2 and 2 together and predict/speculate a potential future event/events.
IMO there is no new actor. It’s the same old actors who have always been here.
Sensing a positive event soon for all of us who have waited for 15.5 years for a meaningful return on their investment.
GLTA
Tier 1 of 8.4 Before the Orchestrated ‘Run on the Bank’.
Tier 1 of 7.8 according to JPM own 2008 Annual Report regarding WMB, and JPM was only 3.5 according to the same filing.
WaMu saved JPM and the Government.
JPM’s derivative portfolio was underwater TRILLIONS!
Yes, TRILLIONS!
The Government couldn’t bailout JPM.
The Government needed real cash.
WMBfsb had $40 Billion on hand for WMB.
41.6, time to pay!
Ron
WAMU was solvent!
Park to Market overnight I'm unnecessary greedy piggy really stupid deal that they did with women brothers and Morgan Stanley and whoever else sucked a big one. 2 years later they decided yeah that was stupid let's not do that again. Yeah so you know diamonds not a leader.
Hardly.., AZ knows exactly what he’s talking about, simply chooses not to share the information on iHub!
Yes true. One thing I always do is cross T’s and dot I’s…. I released for myself, my wife, the trusts for my kids… all done W 9’s the whole works. Signature receipts on everything.
JHD
Nd9...he will not answer you because he doesn't know. AZ has been saying this for years. It's a shame he keeps doing this. It's obvious he is getting something out it what I don't know. Anytime someone keep using "XXXX" and not the name to me it indicates an emotional problem.
PROTECTIVE ORDER AND STIPULATION.
4018 04/17/2024
PROTECTIVE ORDER AND STIPULATION.regarding procedures to be followed that shall govern the handling of confidential material. So Ordered. (Signed by Judge Naomi Reice Buchwald on 4/17/2024)
Ron
We only have to be right once.
Its a corrupt world so nothings certain anymore. But all things are lining up now.
So ask yourself this.....do you feel lucky? Did you release?
Given the past missed guesses by many, no one really knows.. it could be still forever, or never.
JHD
Understand if they take off the 12 Billion they claim as a deficit.
LOL. So the FDIC keeps 400b???
Where do you people come up with this nonsense?!
Loads claims nothing coming back to us, goes all to FDIC.
I saw $1.2 Million showed up in my Etrade account early this morning! Sadly I woke up shortly after.
Have a great evening everyone, I'll check in again in May, history says everyone will still be sitting around waiting.
Vodka.
Latest 2024 Proxy Statement from COOP shows (again) in a legally binding document that AZ‘s claimed secret parent “XXXX“ simply does not exist. Just like in all prior years since he came up with this claim.
And just like in all prior years this will of course be completely ignored.
https://s1.q4cdn.com/275823140/files/doc_financials/2024/sr/2024-proxy-statement-bookmarked.pdf
Why not just ask him….while he still claims XXXX…playing a kids game “I know something you don’t”. Does he not trust you to hear the truth who XXXX is….yor is he just leading you with a carrot to stay in the fold…
This post is a total croc of Sh*t, and displays a total misunderstanding of the differences in settlements of chapter 11, an chapter 7 bankruptcy filings...
(1) chapter 11 is a company restructuring of assets whereby the Creditors are paid values for their holdings according to agreements between creditor, and debtor, and signed by the court...any assets remaining BELONG TO THE EMERGENT COMPANY TO CARRY ON THE BUSINESS, AND TITLE TO ASSETS BELONG TO THE COMPANY, NOT SHAREHOLDERS!!!!!!!!!!
(2) a chapter 7 is a LIQUIDATION OF COMPANY ASSETS, WHEREBY CREDITORS ARE PAID WITH EXISTING ASSETS FIRST, THEN IF THERE ARE ASSETS REMAINING, THEY ARE GIVEN TO SHAREHOLDERS......... the company then ceases to exist!!!!!!!!
WMI was a chapter 11, the creditors were paid, existing shareholders given stock in a new company, and ALL TITLE TO ASSETS BELONG TO THE DEBTOR.......you are not a shareholder in old WAMU, or WMI assets, as they were cancelled , extinguished, and all rights unto previous prospectus are null and void.... what you are is a shareholder in the new company called WMIH, which were given to you, in exchange for your release signature.... YOU POSSESS NO RIGHTS TO FORMER ASSETS OF WAMU, OR WMI.....and stop laughing until these facts are understood....Lodas
CONSERVE & PROTECT IS NOT CONCEAL, ITS A FIDUCIARY DUTY.
AZCowboy, sounds great! Thanks you very much! When you say, “it won’t be long,” are you thinking a couple of months? A few months? A year? I know that is a hard question since you don’t control the process but any thoughts would be appreciated.
Thanks again,
Nd9
XOOM,
1) JPM is responsible for the 15B in (SD) now grown to about 34B
2) The SD was placed in Tranche Five (Equity last in line for spoils tranche 6) of the now officially closed and terminated WaMu bk cases effective Jan 20, 2020
3) JPM is also responsible for all of the assets they purposely took from the former WaMu Estate and must pay Book-Value for them such as 24B in shelf-ready MBS assets plus much more as it was illegal to seize the WaMu Holding company in year 2008
4) JPM was ONLT to receive Servicing fees for handling the 650B in 2008 MBS assets
5) So, much more to come at some point BEFORE JPM CEO Dimon departs in late 2026 OR BEFORE
...
~ Just Checked', the WMB Bonds Are, and Continue to be Serviced By a Sub of (XXXX) ~
There will NOT BE a Claim on the FDIC site by the WMB Bonds to Satisfy
The WMB Bonds are quite Healthy, ... LOL'
The Preferred Managing Sub has only experienced Cash In ! ! since 06/30/2018 ... qtrly coupons ended and the run-off notes were paid off'
Released Commons are Greeeeat', ... because they OWN the Original Estate, ... Ordered by Judge Walrath to continue all business operations, while only the holding company was to be reorganized' ... now ? wait for it, it won't be long LOL'
just sayin'
AZ
Don’t JPM and COOP send mortgages for servicing back and forth ?
Isn’t JPM servicing AZ’s bonds ?
So they are related in some way ?
Why are you sooooo concerned ?
You can believe in anything you wish. Yes, this BK is not actually closed by the FDIC yet.
However......IF IF IF, as you say, JPM is going to pay old WAMU Shareholders some cash to close out the BK, it does NOT have to raise money by selling long term or short term bonds. JPM has currently $900 BILLION in Cash. It does NOT have to sell Bonds to pay us.
So everything Royal is posting is total BS.
The iggy button... Now why kids is Valdemort and others still constantly negative on a board??? Nothing coming back, The sky is falling...HAHAHAHA The funny thing is that we old share holders can not buy or sell anymore in the US... We are all waiting sitting on the coat tails of Billionaires. The debtors are done but remember this is a chapter 11 not a 7. This means what kids??? Yes the story continues, the company continues. Does any one remember the FDICR finishing up their work? Nopey. Does anyone remember JPM paying book value yet, not just the 1.8 B? Nopey Has the LIBOR suits been resolved yet?? Nopey Well then kids this is not complete then is it!!!!hahahahaha The sky is falling, the sky is falling!!! Well it actually is, but I believe it's raining $$$$$$$$$$$$$$$$. So if we ignore the above and only believe there was 24B that has grown over the years that would mean $$$$$$$$$ is coming back toooooooo..... Anyone remember Dr A or the 86B???
Do your own research, believe what you will because it's easy to judge. What is hard in life is to learn. Any one read know what you own??? Is this finished yet....Nopey!!!
I had some time today so I thought I might share some of my thoughts with you today. Feel free to do with them as you wish. I always laugh when I hear nothing is coming back, I always feel sad for those poor souls.
Have a great day!!!!! It is a beautiful day to be alive!!! Enjoy your family and friends!!!
EXO
COOP absolutely UNDERVALUED===>fair PPS is at least $200
Check COOP's current P/E ratio: https://finance.yahoo.com/quote/COOP/key-statistics?p=COOP
COOP's trailing P/E is only: 10.35
COOP's forward P/E is only: 8.38
The P/E ratios in this list (data is as of January 2024)
Financial Svcs. (Non-bank & Insurance) covering 172 companies is the correct row:
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/pedata.html
Financial Svcs. (Non-bank & Insurance)
The average P/Es are:
Current: 34.63
Trailing: 25.59
Forward: 25.54
👉👉👉Only 5 BUSINESS DAYS until COOP Q1 earnings on April 24 (pre-market)
See: https://www.businesswire.com/news/home/20240404446961/en/Mr.-Cooper-Group-Inc.-to-Discuss-First-Quarter-2024-Financial-Results-on-April-24-2024
What the Safe Harbor Covers:
The safe harbor applies to:
Settlement Payments: Payments made to settle securities or commodity contracts.
Transfer Orders: Transfers related to a transfer order.
Termination Payments: Payments for terminating or liquidating securities contracts or commodity contracts.
Margin Payments: Payments tied to margin or collateral for these contracts.
Hiding Assets:
Companies cannot use Safe Harbor accounts to hide assets.
Attempting to conceal assets from the bankruptcy court is not permissible.
If a debtor intentionally hides assets, they risk losing the discharge (the order wiping out qualifying
debt) and remaining liable for the debts they sought to eliminate in bankruptcy.
Wmih in the 2013 10-K makes the statement, by independent auditors, under penalty of perjury, that WMIH, as successor to WMI has NO OFF BALANCE SHEET ASSETS, AND IS NOT CURRENTLY ENGAGE IN ANY COURT ACTION TO RETRIEVE PAST ASSETS!!!!!!!.....they also go on to state that TITLE TO ALL ASSETS BELONG TO WMIH, FDIC, AND JPM, AS PART OF THE GSA AGREEMENT!!!!!!!......you are by inference stating that WMI has hidden assets from shareholders who legally own them.... this assumption is in direct contradiction to the above statements made by WMIH to the SEC.....now, if you believe that Rosen was lying when he said WMI has no safe harbor assets, and that they were all sold off, the where are these assets you seek?......the 2013 10-K was a forensic fresh start accounting of all residual assets , and cash, as well asTrust money held by WMMRC.....there is no mention of assets held outside the chapter 11... in fact, WMIH states that both reportable, and non reportable assets were disclosed to the bankruptcy court in connection to the chapter 11 settlement and inclusion of old equity holders....are you suggesting that WMI eliminated the "money trail" to sequestered assets from shareholders of the old estate?....that would be fraud on the IRS, SEC, and auditors who compile WMI's books...there has been legions of lawyers, and accountants present in the courtroom when the chapter 11 process was on going, and not one raised the fact that WMI was hiding assets... you are the only one pressing this argument... why?... do you have evidence of a fraud committed?...in closing my post, I ask you where is this money you want returned to you when, WMI, and Wmih says there is none , and there never was none to begin with...Rosen was the lawyer, the judge presided, Susman and Willingham never raised the question of fraud... why are you suggesting fraud?....Lodas
CONSERVE & PROTECT TO CARRY THROUGH A SPV LIKE WMILT
CONSERVE AND PROTECT ASSETS/RETAINED ASSETS LAWYERS TALKED ABOUT WHICH COULE BE CARRIED THROUGH WMILT PASS-THRU ENTITY? OFCOURSE WITH EQUITY COMMITTEE AND FDIC TOO, MOST PROBABLY JPM TOO.
in JULY 2010 in the court
We also have in there the part (b) of what is to be
14 retained, and that is because in negotiations that we had with
15 all of the settling parties, with the equity committee last
16 week, with the FDIC, we did talk a great deal about the concept
17 of the retained assets. Now, it's my position, Your Honor,
18 that the examiner doesn't need to do much with the retained
19 assets other than say the assets are retained and therefore the
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through.
-------------------------------------------------------------------------------------------------------------
IN 2011 Mr.Rosen IN THE COURT
MR. ROSEN: All of that is already reflected by way of
9 the dividends that flow up to the debtors' estate. All of that
10 is in the opening balance sheet of the liquidating trust. If
11 somebody wants a breakdown of that, Your Honor, we will go
12 through the brain damage to do that, and we will include it.
13 It doesn't matter. The number is already there. But if they
14 want the breakdown, so be it, Your Honor. It doesn't matter.
15 We will include it
-----------------------------------------------------------------------------------------------------------------------
In Oct 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
----------------------------------------------------------------------------------------------------
In 2012 EC FAQ mentioned about sources of distributions and WMILT
Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf
--------------------------------------------------------------------------------------------------------------------
In 2012 LT Agreement was executed with what Trustee can't touch
6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
Page 22
Thats why Kosturos stepped out before administration started in JAN 2020
-------------------------------------------------------------------------------------------------------
IN 2012 "The following chart summarizes distributions to creditors and equity interest holders in both the Initial Distribution and as represented by the transfer to the WMI Liquidating Trust[color=red][/color]."
https://www.sec.gov/Archives/edgar/data/933136/000090951812000138/mm03-2712_8ke991.htm
-------------------------------------------------------------------------------------------------------------------
IN 2019/2020 FINAL CLOSURE OF CH11
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm page 21
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.
------------------------------------------------------------------------------------------------------------------------------
IN 2020 after creditor claims were paid off.
WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.
The manipulation of LIBOR interest rates was not the cause of WAMU to fail...as a matter of interest, WAMU benefited by the bogus rates by getting more interest on loans , and MBS they sold to be packaged and sold to Freddie and Fannie than what the true value backing the loans were worth...how?....the FDIC backs the Liabilities of the banks that they insure, NOT THE ASSETS!!!!!....banks pay the FDIC premiums to insure the liability on their books to protect savers in case of failure, so that depositors do not lose money...if the liabilities of the banks were INFLATED BY BOGUS INTEREST RATES, THE LIABILITIES WERE OVERINSURED BY THE FDIC which did not get the added premiums from this overinsurance....this is why the FDIC instituted a lawsuit against those that set the LIBOR rates, and not the banks... the FDIC are the plaintifs in the lawsuit in the name of the banks.... my point?...the FDIC will keep any rewards from the lawsuit, and the banks, WAMU included, will get nada....Lodas
4/16/2024 - Notice to All Interested Parties of Intent To Terminate Receiverships
A Notice by the Federal Deposit Insurance Corporation on 04/16/2024
Notice is hereby given that the Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for the institutions listed below, intends to terminate its receivership for said institutions.
Notice of Intent To Terminate Receiverships
Fund Receivership name City State Date of appointment of receiver
10334 Firstier Bank Louisville CO 01/28/2011
10463 Nova Bank Berwyn PA 10/26/2012
The liquidation of the assets for each receivership has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors. Based upon the foregoing, the Receiver has determined that the continued existence of the receiverships will serve no useful purpose. Consequently, notice is given that the receiverships shall be terminated, to be effective no sooner than thirty days after the date of this notice. If any person wishes to comment concerning the termination of any of the receiverships, such comment must be made in writing, identify the receivership to which the comment pertains, and be sent within thirty days of the date of this notice to: Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Section, 600 North Pearl, Suite 700, Dallas, TX 75201. No comments concerning the termination of the above-mentioned receiverships will be considered which are not sent within this timeframe.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on April 11, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-08035 Filed 4-15-24; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2024/04/16/2024-08035/notice-to-all-interested-parties-of-intent-to-terminate-receiverships
Maybe but necessary to get the Big $$$ from the Dimon JPM
This Libor suit is going to break hearts, then it's on to the next heart breaking fantasy.
Rinse and repeat.
Going on two decades.
Truly amazing!
4/16/2024PROPOSED PROTECTIVE ORDER. Document filed by FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver, The Federal Home Loan Mortgage Corporation.
04/12/2024***NOTICE TO COURT REGARDING PROPOSED ORDER. Document No. (4013 in 1:11-md-02262-NRB, 884 in 1:11-cv-02613-NRB) Proposed Order was reviewed and approved as to form. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB (Text entry; no document attached.)
Ron
Yes Ron, this could be us. This is the first I've seen the FDICR mentioned in these recent filings.
Let's see what the coming days bring. We are close to something. I don't see this getting dismissed.
No wonder Compass Point raised their evaluation of COOP to $95.00!
Powell Says It's Likely To Take Longer To Achieve Confidence Inflation Is Slowing
Citing a "lack of progress" toward reaching the central bank's inflation goal, Federal Reserve Chair Jerome Powell suggested that interest rates are likely to remain higher for longer.
WHY CONSERVE & PROTECT?
CONSERVE AND PROTECT ASSETS/RETAINED ASSETS LAWYERS TALKED ABOUT WHICH COULE BE CARRIED THROUGH WMILT PASS-THRU ENTITY? OFCOURSE WITH EQUITY COMMITTEE AND FDIC TOO, MOST PROBABLY JPM TOO.
in JULY 2010 in the court
We also have in there the part (b) of what is to be
14 retained, and that is because in negotiations that we had with
15 all of the settling parties, with the equity committee last
16 week, with the FDIC, we did talk a great deal about the concept
17 of the retained assets. Now, it's my position, Your Honor,
18 that the examiner doesn't need to do much with the retained
19 assets other than say the assets are retained and therefore the
20 liquidating trust can go ahead and pursue them. They will
21 still be there; they can be carried through.
In Oct 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
-------------------------------------------------------------------------------------------------------
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
In 2012 EC FAQ mentioned about sources of distributions and WMILT
------------------------------------------------------------------
Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf
In 2012 LT Agreement was executed with what Trustee can't touch
---------------------------------------------------------------
6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
Page 22
IN 2012 "The following chart summarizes distributions to creditors and equity interest holders in both the Initial Distribution and as represented by the transfer to the WMI Liquidating Trust."
https://www.sec.gov/Archives/edgar/data/933136/000090951812000138/mm03-2712_8ke991.htm
IN 2019/2020 FINAL CLOSURE OF CH11
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm page 21
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.
2020 after creditor claims were paid off.
-------------------------------------------
WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.
You are actually completely wrong!
1) I don't need to work anymore ...
2) When I invested in WAMU, Killinger no longer existed ...
.... so there must be others now who try to hide my money.
Think about why you preach for a hundred times that there is nothing left to get!
"The following chart summarizes distributions to creditors and equity interest holders in both the Initial Distribution and as represented by the transfer to the WMI Liquidating Trust."
https://www.sec.gov/Archives/edgar/data/933136/000090951812000138/mm03-2712_8ke991.htm
Thanks LG for correcting me.
Newflow, here you go.
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.
...
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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
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