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No, if I remember correctly the W-9's were submitted to the same address as all of the paperwork. Not to Ameritrade directly.
Anyone correct me If this is not correct.
JHD
The ONLY thing that is re-written is AZC re-writing his HISTORY!
...
Or someone’s else light bulb…just taking credit for it
I do not know whether is larger or not. Once JPMC pays for assists stolen from WMI, whatever left is for present JPMC equities, or at least, will not hurt stockholders.
As was stated here ON MULTIPLES occasions years ago!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
YOU JUST FINALLY HAD ANOTHER ONE OF YOUR LIGHT BULB MOMENTS AGAIN
Quote: “ol' cactus is dug in, like a Tic on a Mule Deer ~ ... Yes, this is all coming to a head' "SOON" “
Since 2015…you have mentioned SOON….soon could be years….decades…..you are still hiding behind XXXX….just tell the truth who you think XXXX is and watch what happens…..you are NOT bond by NDA…or anything else….you claim to be friends with the inner circle but it is just one sided….
~ "COOP's" Share' Buy Back Program of the 36m Shares, Was "Designed" To Correct' ~
... Go COOP', ... Go COOP', ... Yes, We Understand and Yes, We' Get It ... LOL' ... nothing less than amazing ! ! !
=================
In My Opinion, ... this entire process was planned for a very long time ago' ...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174318574
attempting to rewrite the WaMu History and Process ? ... doesn't work' ... (sound familiar ?)
attempting to separate and divide the WaMu Longs ? ... doesn't work' ... (sound familiar ?)
the twisting of truth ? ... doesn't work' ... (sound familiar ?)
attempting to disrupt the Federal BK Court Approved Plan' of WMI's Reorg (2019' ?) ... Did Not Work' ! ! !
~ ol' cactus is dug in, like a Tic on a Mule Deer ~ ... Yes, this is all coming to a head' "SOON"
just sayin' :) :) :)
AZ
~ JPMC (etc, as listed) WAS RELEASED' ... Only The FDIC C & R as "Corporate Structures" WERE NOT RELEASED ! ! ! ~
... ALL of the People', the Human Beings' (the employees etc.) ... Were Released from any potential participation or individual litigation submitted against' them ... It's "specific to form" within Everyone's "Release to Participate" Submitted with their W-9 attached' ... Submitted individually to One's Individual Brokerage or Bank' ...
In My Opinion, ... this entire process was planned for a very long time ago' ...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174318574
attempting to rewrite the WaMu History and Process ? ... doesn't work' ... (sound familiar ?)
attempting to separate and divide the WaMu Longs ? ... doesn't work' ... (sound familiar ?)
the twisting of truth ? ... doesn't work' ... (sound familiar ?)
attempting to disrupt the Federal BK Court Approved Plan' of WMI's Reorg (2019' ?) ... Did Not Work' ! ! !
~ ol' cactus is dug in, like a Tic on a Mule Deer ~ ... Yes, this is all coming to a head' "SOON"
just sayin' :) :) :)
AZ
So JPM will just say that it needs to pay a penalty larger than its common share capital but that it has hidden this money somewhere under a different name?
~ "COOP(s)", share buy back program "Makes Sense" ... FINALLY' ~
NationStar's acquisition in 2018', to "the mr cooper group", trading as symbol "COOP" ... able to legally be used as an SEC "registrant", able to SEC report with only ONE Operational Sub ... (LOL) ... NationStar LLC' ... the acquired Subs' loan servicer' ... "FINALLY" and COMPL:ETELY ... Makes Sense' ... ! ! ! !
Yes, the following is' On The Approved WMI BK' Docket, as the result of the GSA Settlement Docket # XXXX, and then' Fulfilled and Completed as Docket # XXXX at the 2012 Reorganization; and also placed upon the Formal Docket'
========
In its capacity as a creditor, WMI claimed, among other things, that;
(I) the FDIC dissipated WMB’s assets by selling substantially all the assets of WMB to JPMC rather than liquidating WMB’s assets, and thus the FDIC breached its statutory duty to maximize the net present value of such assets, and therefore owes damages to WMI;
(ii) the FDIC’s wasting of WMB’s assets constitutes a taking of property without just compensation in violation of the Fifth Amendment to the United States Constitution;
(iii) the FDIC’s refusal to compensate WMI for property taken in the receivership constitutes a conversion of WMI’s property, actionable under federal law;
(iv) the FDIC’s refusal to compensate WMI for property taken in the Receivership constitutes a conversion of WMI’s property.
========
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174290105
========
And The Numbers of Shares Necessary (now, Available) for "COOP" to utilize
~ "Defined" ... "COOP's" (current) Common Share pps, Is Directly' Related To a (2/3rd ish') Original Released WMI / WMIH (wamuq) (Plan) Common Share ~
The Following Transitional Event(s) ... were only' related to the WMI wamuq released common shares' ...
initial conversion @ .03349842 on 03/27/2012
conversion completion @ .00076346 on 08/03/2012
the tracking of the plan 7' released WMI (wamuq's) had to be "perfect" (in my opinion, for what is now' soon to come ! ! - COOPs return to 100m shares' ... yes, all planned for, a very very long time' ago ! ! ! )
any and all excess P' ... "Cash In" ... funding, would always have been maintained within the WMI / WMIH "Preferred Managing Sub" (segregated & NOT' involved in the Holding Company's Reorg) ... always maintained and held, for the original P' Fixed Income Bond, releasing Plan Participants' ...
yes, it's all coming together
======
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174311276
just sayin'
AZ
Whatever did JPMC steal and rob the assets not being reflected to her financial statement. IMHO, they are hidden under a different name but fully controlled by the thieves.
Once JPMC paid penalties, she has to open up the gain from WMI to her stockholders. Then, we will be paid, the case is ended.
JPM would get wiped out as a bank after paying such a penalty
Nova it appears that JPM bought WMB and WMIH. It makes sense all the WM assets were all intertwined between WMB and the non bankings subsidiaries.
So the 400B is not going to former WMI shareholders, its just being paid by JPM to JPM?
Nova you are correct EXCEPT JPM will be paying itself in our Libor case! Think About That!
MyPlace, at some point COOP will have to explain who the new client they boarded as there are SEC ACT 34 requirements. Assuming this was boarded in the second quarter, then more than likely would have to report it with their second quarter report and yes that is about a month after the close of the second quarter but most likely will be reported during the second quarter when they signed agreements to take this business.
Normally for a Material Event and I have to assume this 90B would be material, then they would have four business days to report from the agreement date. There are some assumptions here but if they continue to hide something of this magnitude, they will only be digging a negative hole that does not make sense.
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1Q 2024 saw 52 bulk MSR transactions, COOP's biggest ever, up 50% from a year ago. COOP is the preferred buy for many MSR sellers. PYRO makes COOP the quickest and most accurate buyer.
"In addition to the new client we onboarded" ... (no mention of the name again ...)
$100Billion expected to be added in 2Q, split between MSR's and sub-servicing.
...
JPM shareholders seem to have no idea that their shares are about to become worthless as a result of the bank getting wiped out.
Why do you think that is?
Nova you are correct EXCEPT JPM will be paying itself in our Libor case! Think About That!
400B is way more than JPM‘s entire common shareholder equity of 258B - so what you‘re saying is that JPM would get wiped out as a bank after paying such a penalty.
https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2024/1st-quarter/6678012b-9242-492b-acd0-1473eabade3c.pdf
Any idea by what time LIBOR will end? TIA.
True. In a perfect world, slam dunk.
But this country is a mess. DOJ, FDIC, FED and on and on. The banksters are as corrupt as they come.
So yes, Libor should get us some justice. But who knows? All Dimon has to do is say, I have a pen and a phone. And hes off the hook.
I do think escrows will get some payout. But it wont be what it should be.
The big thing is, it will unlock the rest. Thats where the big money is. If we have a big enough crowbar.
As for Libor, this judge is our savior, I believe. I think she is righteous and will see that the mega settlement is fair and reasonable....unlike the other one.
Because It Was a 5AT.
WMI already set the price tag for WMB and it’s assets.
WMI sued the FDIC for $307.2 Billion for WMB and it’s Assets and the FDIC/JPM lost.
Rosemary said; JPM will pay for all of the assets of WMB as of the seizure date.
MINIMUM!
Now add in 41.6, “Willful Misconduct”.
The numbers have already been established in court filings and enshrined in the Plan 6 GSA.
Yes settled in Plan 6!!
Plan 6 was adjusted to pay Creditors by the Equity Community with Plan 7.
Very little changed between Plan 6 and Plan 7.
Hint; Exhibit H. 510(b).
Most of the 363 and 365 Sales of Plan 6 became the Retained Earnings of the February MOR
The Equity Community Presentation.
Ron
A new company should evolve because that is how no one knows where those funds and assets came from after 14 or 15 years, "UNENCUMBERED". Ofcourse the Judge and all insiders will have some clue, like Mr. Rosen said,the assets will be there and those can be passed-thru and if Equity Committed had any issues in believing they were authorized to reach 3rd party for the opinion.
Mr.Folse specifically mentioned about money coming from somebody somewhere down the line and he cautioned the court.
Mr. Nelson asked the court and approved for atleast shareholders to should take the control of WMILT after claims were processed(which was happened in Jan 2020 after class 18 was paid and admins took over WMILT).I will wait,let the process takes its own course.
judge not, and you shall not be judged, sayeth the proverbs.....what Dimon does, or did, is not your business, but the business of finance... every effort you made to manufacture a reason to be paid more money was in contradiction to every official documents put out by authorities that handled the chapter 11, including members of equity who participated in the discussions... Failure can be placed directly at your doorstep since others were pleading with you to just read the documents , and were villified, placed on ignore, and discarded as charlatans...there will be no recovery for you no matter how many theories you expound because the company has already said 11 years ago that all recovery claims were finished....... Lodas
Since jpm et al made trillions, certainly 400B is a Libor bargain. The Fdic did them a favor by only suing for 400b. It shouldve been much more. Yet cheapskate Dimon will crowbar the judge into accepting much less, maybe 100b. Sickening how that crapweasel gets away with the fleecing of America. Wamu suffered extensive 5th amendment damage and that rotten sob will get away with a mere slap on the wrist.
Thats justice in America today. But the hereafter is another matter entirely...........
Thank you very much Ron.
Chris Marshall left Mr Cooper... there were some wondering why Chris Marshall was not on conference call this week... It's because he is no longer with company
**********************
Sagent names Mr. Cooper’s president as executive chairman
Chris Marshall will be focused on helping to launch a cloud-native software platform in 2024
January 22, 2024, 12:30 pm By Connie Kim
Sagent, a fintech software company providing a servicing management platform for banks and lenders, appointed Chris Marshall as executive chairman. Marshall is vice chairman and president of Mr. Cooper, but announced plans to retire last year and will transition out of his role leading Mr. Cooper’s businesses at the end of January.
His term as executive chairman began on January 19.
https://www.housingwire.com/articles/sagent-names-mr-coopers-president-as-executive-chairman/
LG
where did Coop say
COOP advised they will divulge the name of the highly important client in the second quarter ?
Thanks
I Like this Poster.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174267065
Please remember that the MBS are insured. That means minimal risk to the issuer of the notes.
The function of LIBOR Litigation is the resolution of the Derivative Market that insured the notes.
CDS, CMO…
The derivative contract writer’s owe Us money for the MBS notes losses.
It’s called ‘insurance’.
With LIBOR; JPM and friends are just asking ‘how much do we owe you?’
Ron
Nice to finally see the share price predictions/targets in the high $80's and even in the $90's. Amazing how even those targets are low relative to actual performance/results.
AIMHO, STRIKE
Roulette comes to mind.
The Market is a Roller Coaster. A Casino if you will.
WAMU was a Thursday, very uncommon to other banks that get seized.
I'm still trying to wrap my head around as to why a LIBOR settlement is needed first, etc. If JPIG didn't pay the "correct" price for WAMU to begin with, then what changed/changes with this settlement. These two events are independent of each other.
If WAMU, or WMI was harmed by LIBOR, then why didn't they institute the lawsuit instead of the FDIC?....the reason is WAMU,WMI did not have a case, or was harmed, but the FDIC was in insuring the Liabilities of WAMU Banks which they were not being paid for !!!!! duhhhh.....so, since the FDIC does not borrow money, they were harmed by the bogus interest rates ,not the banks.....Lodas
Just afraid FDIC will come up with another reason not to pay.
Whether it's on a Thursday or a Friday, it doesn't matter, as the taxpayers' hard-earned money was protected in an exemplary and heroic manner in both cases. Read the 2013 WMIH 10-K, check out our great charts, trade options or get a day job if you need money! Move along, there's nothing more to see here!🤣
Every LIBOR Settlement is Good For Us.
Us is WMI, Lehman’s and F&F.
We are all included in the Derivative Market correction process of LIBOR (CDS/CMO…).
Our ABS(MBS/RMBS…bonds) were insured by the CDS…
WMI, Lehman’s and F&F all reinvested in their bond offerings.
Required to hold 15% minimum of their offerings.
Many Hedge Funds are invested in the same bonds we are.
Here is a great post;
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174314875
Ron
Ron, could this be connected to the agreement made between JPM, Deutsche Bank, the FDIC and WMI that was agreed on in 2017 or 18? If so, and if my memory serves me right, that was supposed to be the last agreement in the waterfall before shareholders started getting wet. I specifically recall a quote from one of the court filings where JPM and Deutsche Bank had outlined the percentages each would get “if” funds came back from the FDIC. If the FDIC is currently calculating Libor adjustments, that ought to reduce if not eliminate - or even change the outcome to be in WMI’s favor, since both JPM and DB were implicated in the Libor scandal.
Wow, can you really believe that it got seized on a Friday?
Republic First Bank , a $6B institution gets seized yesterday, bought out the same day by Fulton Bank which agreed to assume substantially all of the failed bank’s deposits ($~4B) and buy essentially all of its assets, yet the FDIC states it will cost them $667M? So the FDIC is paying Fulton $667M to take RFB? How did the FDIC sell a bank the same day they seized it and how many other banks had an opportunity to bid on it? Oopps! I forgot, the FDIC gets do what ever they decide they are going to do... Rinse/Repeat.
https://fortune.com/2024/04/26/philadelphia-bank-implodes-failure/
How soon you forget the Illegal Fifth Admendment taking of WAMU.
I'll get my millions, but there is no soup for you!
The borrowers and the FDIC was harmed by LIBOR, not WAMU... why?... WAMU just passed the higher interest rates to those that took out loans... The FDIC was harmed because they were over insuring the Liabilities of the WAMU banks and was not being compensated from the fees they got from the banks...WAMU was not involved in derivative contracts so they did not suffer losses like AIG did, and had to be bailed out,,,, WAMU sold home loans to GSE's, and MBS were packaged in Tranches and sold off to investors... there will be no LIBOR settlements going to WAMU, or WMI, .... the FDIC will keep any settlement monies to work off the 14 billion dollar loss on WAMU's balance sheet caused by the 16 billion dollar "run on bank deposits"...Lodas
COOP FAIR VALUE = $237.13
Why is it gong down so much? We were over $81.00 and the earnings were good. What's going on?
https://simplywall.st/stocks/us/diversified-financials/nasdaq-coop/mr-cooper-group/valuation
Yes, I don’t buy the “hedge fund ride” theory.
JHD
We don’t have much choice.
Hedge funds can wait long time. Not good for individual investors because of limited lifetime.
Xoom, if that is so, I'll be one very happy camper!
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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
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