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There's no agenda. There are just some who know that he's wrong; something AZ will simply not acknowledge.
AZ COWBOY & his D. D.
For all those whom attack, criticize, and undermine his educational posts you do so with agenda.
I have read all posts this morning. To put a lot of this to rest, GOOGLE "value WMIH NOL Jan.,1 2017" & see what you get.
I believe GOOGLE over the opinions here. Do not think there has been any change this year
AZ COWBOY & his D. D.
For all those whom attack, criticize, and undermine his educational posts you do so with agenda. Az has only shared his incredible grasp of issues and legal road map of this 9 year ordeal. He has stated only what he has determined to be of importance for equity and the financial outcome there within the stock.
If you are long or short a lot is to be learned from someone who at least, has a master’s comprehension of this case. I have never made decisions, placed trades, or bought or sold anything because of him. We all hopefully wear big boy pants and make our own decisions and will level with the reward or loss.
However what Az has provided is a road map for many including myself so I may make better decisions for myself. Az is a legit solid person for doing what he has done here. I personally am extremely grateful for his sharing his knowledge of this case and the issues at hand. So if you are long or short, a thinking human, have a good intellect, and are not arrogant to information that has credibility you would be wise to at minimal be glad he has shared what he has here and do with it what you may.
Cowboy regards,
Thanks’
B
Ax thanks for all your hard work. I understand exactly what you are saying. Once you showed what was said in court about the Capital Gain being more or the same dollar amount as the NOLs. It's all good far as I see it. Thanks again your input has been invaluable.
~ Lodas, Well Done & Thank You ~
I am a fan of yours, as I read all of your common sense presentations' you are also a true "investor"
... Thank You, ...
I basically stopped adding WMIH-Corp in Nov of 2013' ... and as the year transitioned, I began accumulating WMB Fixed Income Securities between Jan 2014 and June of 2015' ... (no easy task) ... the WMB Bond purchases on the secondary' dried up around March of 2016, just ahead of the "Settlement" signing in June of the same year'
anyway, ... IMO, WMIH-Corp is trading for less than simple value at these numbers, ... so I placed an AON order at the open and was filled (I was actually surprised') ...
good luck to you' as well ...
AZ
Do you have any idea why when they reincorporated in Delaware, that they authorized so many additional shares? That's always puzzled me.
AZCowboy..... don't let them goad you into any response about the accurate DD you have provided to this board... "Divide, and conquer" is their goal now that these mofos got the price moving downward...as You and Yanik just posted.. value is the play here, not the price movement... I just bought more stock myself this morning, and will continue buying the dips... Lodas
Yank..... I could not have said it better than your post.....got stock???. I do... buying all dips and have been here since Nate Toma spilled the beans and before.... good work... Lodas (who dares, wins)
disagree, if AZ were right this would be under a dime or lower.
~ Again, I Won't Argue ~
... "It Is What It Is" ...
Just about ? ... everything that I can think of has been attempted to discourage any retail participants from remaining involved' on this WaMu / WMIIC / WMI / WMIH-Corp ...
I have absolutely no idea who everyone truly is ? or, what their intentions may be' ...
... I added this morning' ... a lot' ... for two reasons' ...
1st, I can afford to'
2nd, I believe as S. Landefeld stated, that the "Equity Interest" in WMI Investment Corp, is worth more than 206 million shares X's 90 cents per share' ... 9 years later ?
... Not To Mention the value of WMMRC, which can now be sold (the original zelin' plan)
as in 2012 when I loaded up at the 50 cent level' ... once again, WMIH-Corp is able to be purchased for less than true value' and is now without debt' ...
(my own DD, and my own money)
AZ
IMO yes, RSI completely oversold
Chart: http://schrts.co/vnpXz3
Bounce Time
Or the Clay trader affect , the technicals are suggesting a bounce off 88 cent support.
well we are trading @ .88 so the market thinks AZ is right.
I have been here a long time and I will be glade when its over, I wish it was over this month...
Bounce Time
Or the Clay trader affect , the technicals are suggesting a bounce off 88 cent support.
~ Thanks Bond' Yes, It Can Be Confusing ~
These issues are complex, and this WaMu intertwined "dual tracking" legal process' has been a process like no other that I ever remember' ... World Class Firms' ...
... We' ... were never expected to ever initially be involved, yet were ... We' ... still expected to still be here after all of this time' ...
Plan 6 was supposed to end at the PIERS', and the WMB Noteholders were supposed to accept a Class 12 General Unsecured placement' ... That ? didn't work out' ...
... I'm still here' ...
AZ
I remember this conversation on BP with sarge and AZ , sarge provided a 600 ph. Link where on page 243 the conversation in court describes exactly what AZ is saying... my 2 cents
Yanik, very good post...Thank you
My 2 cents on the PPS
MVHO, the downwards movement of the stock price is driven by 2 key factors:
1. The pay off of the RONs, which is a legitimate reason to shave off 10 cents from the valuation
2. Fear that the SBP is expiring and it might...it seems likely that it will not be renewed.
It is all nuance, the execs have said that they prefer to continue to do business with KKR (before they look for alternatives in terms of financing). Nothing has changed fundamentally since Dec 2013 when the "first deal with KKR" was announced and the PPS is reflective of that. Of course, the company has burned through some cash for salaries and expenses etc. over the past 5 years since the exit. But the premise at least in the public eye has remained the same - large NOLs, SPE which needs financing etc. Yes, a lot of impatient hedge funds which came along and got out, since they were hoping to make a quick buck - it didn't happen.
Uncle Bo
No material events in a negative light have been represented recently, but rather one positive press release regarding the company paying cash to close out those notes which were draining funds slowly with interest every quarter that they were not paid off.
You are confusing things here. The abandonment of WMB stock was a capital loss (CL), which could have been offset only by capital gains in the year the losses occurred, or IMO carried forward only 5 years. They asked the IRS, and they allowed to treat the loss as ordinary loss (OL), which can be carried forward as NOLs for about 30 years.
We have to be happy that it was treated as OL and NOT as CL!
Totally wrong...
~ Simply Separate the Issues' ~
... As I said back in 2013' ... a Capital Loss IS NOT an NOL' ...
WMIH-Corp as the reorganized Washington Mutual, Inc. ... still has the availability of a Capital Loss Tax Advantage' ... within the IRS guidelines' ... timing issues were extended due to the Stay placed on the continuing litigation, ... now "Settled"
WMIH-Corp as the reorganized Washington Mutual, Inc. ... NO LONGER has the ability to claim NET OPERATING LOSS (NOL's) Tax advantages associated with the banking sub, WMB' ... now that WMB has transitioned to JPMC with the completion of the P&A Agreement' ...
AZ
IC what your saying!
or they lawyered up an are renegotiating the conversion price with this price drop.
AZ you claimed that WMIH's NOLs are gone. Now, caught making an obviously errant statement, you are pretending to have asserted something else, which btw is also wrong.
~ Simply Separate the Issues' ~
... As I said back in 2013' ... a Capital Loss IS NOT an NOL' ...
WMIH-Corp as the reorganized Washington Mutual, Inc. ... still has the availability of a Capital Loss Tax Advantage' ... within the IRS guidelines' ... timing issues were extended due to the Stay placed on the continuing litigation, ... now "Settled"
WMIH-Corp as the reorganized Washington Mutual, Inc. ... NO LONGER has the ability to claim NET OPERATING LOSS (NOL's) Tax advantages associated with the banking sub, WMB' ... now that WMB has transitioned to JPMC with the completion of the P&A Agreement' ...
... The NOL Tax Advantage is no longer available' ...
AZ
That is not the question. Of course NOL's can be offset by (any) capital gains. That is what they are for, right?!?!
ron and you said, WMIHs NOLs are gone!
WMIHs $5.9 bln NOLs resulted from the "worthless stock abandonment" of WMB. Abandonment!
And if more money has been paid for WMB, not WMIH would benefit, but the WMILT. Right? So it would make WMIH worthless without any NOLs and any payment received (payment wnet to WMILT) right?
IMO big big BS!!!
~ JusticeWillWin, Well, I Just Believe J. Carreon To Be Correct ~
To be more specific, I agree with him' and I also agree with his premise and his presentation to Judge Walrath' ...
As a business owner myself, ... what he said has always made sense to me' ...
I am legally able to utilize an IRS Tax Advantage associated with any "LOSS" ... However, ... If I decide to SELL the asset associated with the depreciation I am claiming, SO GOES The Tax write off' ...
Beyond reading the case files in BOTH Judge Collyer and Judge Walrath's Court, ... I also listened attentively to all of the Court Proceedings and took notes associated to what I believed would become relevant into the future' ...
I believe that J.Carreon Told Judge Walrath the TRUTH regarding this issue' ...
AZ
TD Ameritrade To ELIMINATE ST FRIP program
Any ST investors should call their brokers and voice their concern. I also called TD Ameritrade to let them know they will lose my business if they do away with this program.
Plenty of other brokers begging for my cash.
I was told they are taking note of all calls regarding this, both companies. Do your part if you enjoy your FRIP program, which is the best in the industry.
In my opinion it could be either of those, but not likely. I think you need to totally disconnect this company/stock from anything logical or fundamental when it comes to its trading.
No material events in a negative light have been represented recently, but rather one positive press release regarding the company paying cash to close out those notes which were draining funds slowly with interest every quarter that they were not paid off.
I for one am glad they are now paid in full and is one less thing the company has as a obligation to deal with. As far as the recent price movement is concerned like i said its nothing based on news or rational. Someone or some groups of people with not even that sizable margin accounts can short//purchase/manipulate a stock like this one easily due to the low volume and share price.
It does not take a lot for them to move it in one direction or another on such small volume. Sentiment also plays a role in those peoples strategy. Funny how some certain names keep beating the same drum beat day in day out while others only show up to post something outlandishly negative based on no facts when its moving in said direction.
To sum up I do not concern myself with the daily movements of pennys in one direction or another. Material events and facts are what really matters going forward. everything else you hear is just noise and static trying to goad a reaction out of you or to stress some holders out of their positions. I dont let the ramblings of someone with alterior motives effect me or the facts on the ground.
My position could be underwater upwards of 75% and i still would not budge a inch because i know its just trading based on no material information and low volume movements which can easily be controlled daily.
I feel secure actually that so many people are so interested in some no name company with no business to speak of, limited volume, and share price. with all the easier targets and other places to be they still spend so much time here? why is that you have to ask yourself. Once you answer that question ask why the major hedge funds and investment grade funds are not budging either. they usually know of material events before the common man does, but yet they watch the daily low volume movement and just sit on said positions. might it be because they know what they have and have the patience to realize a longer term gain on a longer term investment? I personally think so.
I think its very telling when the same group of people are trying to shift sentiment to the negative spectrum based on what? peoples lack of patience? low volume to the downside? Just remember material events are what will determine the earnings potential going forwards as well as future valuations. Nothing negative nor positive has happened materially so it does not reflect reality. When a material event like a M&A Only then will the share price start to reflect its true value or at least start to move in a logical direction and not what has been going on during the long period of radio silence to the public from the company by which any individual or group with deeper pockets coupled with low volume and a loud bullhorn can try to shift sentiment to their favor to grind out money from those people without the patience or realization of whats going on.
This is all just in my opinion of course. Hence why i rarely post these days as nothing has materially happened and I like many others are waiting for the company to deploy its financial assets to drive earnings forwards for its shareholders.
Have a nice weekend everyone. back to lurking.
AZ: Then why have WMIH's SEC filings continuously referred to the existence of the $6 billion in NOLS? Are you suggesting that the officers, directors, accountants and lawyers for WMIH are lying? That is the only possible way to square the filings with your posts.
I think this particularly obvious errant conclusion of yours will ultimately cause many on this board to finally question the validity of your other conclusions.
He's wrong about the NOLs. There is no doubt about that whatsoever.
~ JusticeWillWin, Well, I Just Believe J. Carreon To Be Correct ~
To be more specific, I agree with him' and I also agree with his premise and his presentation to Judge Walrath' ...
As a business owner myself, ... what he said has always made sense to me' ...
I am legally able to utilize an IRS Tax Advantage associated with any "LOSS" ... However, ... If I decide to SELL, or COMPLETE a contractual arrangement TO SELL' the asset associated with the depreciation I am claiming, SO GOES The Tax write off' ...
Beyond reading the case files in BOTH Judge Collyer and Judge Walrath's Court, ... I also listened attentively to all of the Court Proceedings and took notes associated to what I believed would become relevant into the future' ... I found Carreon's presentation to Judge Walrath quite interesting' ... to me ? ... it made sense'
I believe that J.Carreon Told Judge Walrath the TRUTH regarding this issue' ...
AZ
I am not saying AZ is right but I think he is saying that the assets from wmi caused a capital gain and that absorbed the nols. I am spit balling here.
No, the current conversion range of the Series B is between $1.75 and $2.25, and because of the current VWAP far below $1.75 it is the floor $1.75 that will be used for conversion. That should support the current PPS, not bring it down. Then KKR has 30.7 million warrants for $1.32 and another 30.7 million for $1.43. And the KKR Series A convert @ $1.10. IMO all these prices should support the PPS IMO, not bring it down...
Honestly, I don't know what is going on here, but I added yesterday below $0.89
Or has the stock dropped aprox 20% in anticipation of an aprox 20% dilution in stock WITH THE ISSUANCE of the 600 mill shares in a conversion of the B shares, Qualified ACQUSITION
I've seen nothing else to predicate a pps drop
boy oh boy.. someone better get this clarified because if the cowboy is right than wmih most valuable asset is gone and that spells disaster.. I know many love the cowboy on here and look forward to his posts to soothe them and assure them while the stock has tanked that everything is going to be A ok.. but this is a biggy that better get clarified asap..
yeah, so many great DD and yet this thing is going down everyday.
Completely agree, mordicai.
Justice: AZ is just plain wrong, and has been for a long time. The $6bil in NOLs are plainly disclosed in WMIH's last 10-K and last 10-Q. And they will show up in the next 10-Q due by November 10.
Perhaps what Cameron is talking about is nols generated by wmb operations. Wmih nols arise from the capital loss taken by wmih on the investment in wmb. Wmih has not lost 6 billion in nols.
Exactly! I think a deal between now and end of the year are slim to none bc the PPS is showing that at $0.88. If there is a deal being working on, the PPS would be over $2.00
I agree bob.. bingo.. not many on here are pointing this out but Hence this is why I think the adviser was hired... I think many are thinking this conversion is coming, massive dilution Im bailing.. now we might see some sort of deal with the convert guys to lower there conversion price, say to 1.40/50 and push the extension to another 3 or 5 yrs.. I think a deal between now and end of the year are slim to none...why the bulls will ask, because price doesnt go down to new 52wk lows on good news coming, we all know how it works, the big money is tipped off way in advance and they bid it up.. I been pointing this theory with the stock bleeding for months and was labeled a short basher, the longs were throwing out theories everyday, theories that do not make sense.. Ive asked about the 2018 deadline numerous times and not 1 poster addressed it.. why? because its not a bullish event, it was always, funds buying, sell vol. lower than buy vol.. I got a tip for you on that.. when a stock is down 7% on 3 times normal vol its selling vol.. its simple supply demand, selling is over taking buying, no special indicators are need, but many search for reasons as to why their beloved stock is falling and need confirmation bias
Ref: yes
and the value of the NOLS is directly dependent on the max corporate tax rate
a key reason for the decline to the 1.50 zone was the expectation of a drop from 35% to 15%
I feel comfortable - that whatever else was happening - that drop in PPS was directly related to lower dollar value of the NOLs as corporate rates to be sheltered from drop.
Comment:
Agree, NOL's being an asset has a "book value." That book value is directly related to % of Federal Corp Income Tax Rate. Market has reacted based on Trumps agenda to slash the current rate from 35 % to 15 %. Personally, I don't see it going lower than 25%. But, I am not the whole market.
Ref: Why the drop from 1.50 to below one dollar escapes me as it becomes clear the final top corporate rate will be 25% not 15% (which is 10 percentage points or 40% higher)
Why the drop recently ?
Comment:
Combination:
1) Negative market perception of the ability to pull off an acquisition,
2) MM manipulation and
3) BOD agenda.
AZ, you know what you are saying here? Seriously? That would render WMIH nearly worthless. The $5.9B NOLs is their largest (and only) assset. They would need to file an 8-K.
And IF any "final payment" was made (which caused the NOLs to "go away") by JPMC for WMB as ron (and you) state, that money would have gone to the WMILT, not WMIH, making WMIH a worthless shell now.
I think this kind of negative and IMO outright false speculation of the loss of NOLs brought the PPS down IMO.
~ JusticeWillWin, Specific To Your Question ~
The information regarding the removal of any NOL' Tax Advantage associated with WMB' ... being is no longer available once the original, SALE OF THE BANK, WMB, was ultimately finalized' and completed ... was revealed in Judge Walrath's Court'
This exchange is referenced in the "Open Court Transcript" as J. Carreon is introduced to Judge Walrath by J. Mastando (Weil) ... and, answers Judge Walrath's specific question regarding any future Tax Advantages' ...
As has been revealed in all of the SEC K & Q filings by WMIH since its reorganization, ... WMIH has been using this tax advantage' ... for a zero taxation responsibility' ...
NOW that the P&AA has been completed and WMB has transitioned to JPMC has been finalized, ... The NOL Tax Advantage associated with WMB is GONE" ...
* The P&AA Contract between the FDIC & JPMC was put into effect on 09/25/2008' ...
* WMB was always going to eventually be sold to JPMC'
* The NOL Tax Advantage was always going to go away with the completion of the original sale of WMB to JPMC'
* The NOL Tax advantage has had ZERO to do with any other M&A moving forward, The NOL Tax Advantage was specific to WMB'
AZ
good morning fellas!! well that was fun yesterday... I see the same old cheerleaders were out in full force defending the heavy vol. downside day.. I even seen a well the buy volume is outweighing the sell vol. while the stock was down 7%! Here are some facts because everyone has an opinion on what is going on, piers, escrows, converts, kkr, management not paying attention to stock or shareholders, funds buying, no funds selling, manipulation, controlled manipulation, bear raid...many are pointing to the funds buying and not selling.. we do not know what funds are doing until the 13f is released and I think the last one was 6/30 with 45 days after to release the 13f so the fund info is as of 6/30... we will not know until 40 days what the funds did... Heres a fact.. the stock in 1 yr has gone from 2.25 to .88 and the same excuses that were mentioned above are still being mentioned.. I remember reading posts a yr ago bout how much value and a gift it was at 2.00 and Im adding to my 50k common shares all the way to .88... the fact is the stock has been sold for a yr.. now we can speculate all we want on what is happening, I think the 2018 jan deadline is the culprit.. from what I believe, come jan 05 2018 do these converts convert at 1.75 and up to 2.15? if so we may see some sort of extension which will obviously make the convert prices lower which would put some pressure on the stock.. I think some funds are tired of management, I think 5 yrs with no deal means many have gotten cold feet...
Or has the stock dropped aprox 20% in anticipation of an aprox 20% dilution in stock WITH THE ISSUANCE of the 600 mill shares in a conversion of the B shares, Qualified ACQUSITION
I've seen nothing else to predicate a pps drop
~ JusticeWillWin, Specific To Your Question ~
The information regarding the removal of any NOL' Tax Advantage associated with WMB' ... being is no longer available once the original, SALE OF THE BANK, WMB, was ultimately finalized' and completed ... was revealed in Judge Walrath's Court'
This exchange is referenced in the "Open Court Transcript" as J. Carreon is introduced to Judge Walrath by J. Mastando (Weil) ... and, answers Judge Walrath's specific question regarding any future Tax Advantages' ...
As has been revealed in all of the SEC K & Q filings by WMIH since its reorganization, ... WMIH has been legally able to use this tax advantage' ... for a zero taxation responsibility', while the relevant litigation had continued, ... Now "Settled" of course' ...
NOW that the P&AA has been completed and the transition of WMB to JPMC has been finalized, ... The NOL Tax Advantage associated with WMB is now also GONE" ...
* The P&AA Contract between the FDIC & JPMC was put into effect on 09/25/2008' ...
* WMB was always going to eventually be sold to JPMC'
* The NOL Tax Advantage was always going to go away with the completion of the original sale of WMB to JPMC'
* The NOL Tax advantage has had ZERO to do with any other M&A moving forward, The NOL Tax Advantage was specific to WMB'
AZ
RSI totally oversold, Stochastics turning positive ===>Chart
Chart with RSI and Stochastics: http://schrts.co/vnpXz3
No investment advice, just my opinion...
Good questions, I tried to ask similar questions myself over on the ihub KKR board. Here is what they thought.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=135093211
I emailed their Investor Relations over the summer also and they never replied to jack squat. Not very nice folks really to just not even reply with a piss off or anything. who knows maybe they did bail on WMIH. KKR stock continues to do very well though, aren't you happy for them?
The Holy Grail this must fail how is this thing staying up this should be a .40 allready
Why are we at a PPS level before the entry of KKR (KKR Commitment Letter from Dec. 2013), not to mention far below the level of the Series B offering to KKR/Citi and the reception of the $600 million from 2015?
Does the market think KKR is out?
Or MM games?
Or are the 6.5 million shorts covering before good news?
We are completely in the dark, as always...
What are the retained assets?
The assets of WMI Investment Corp.
yes
and the value of the NOLS is directly dependent on the max corporate tax rate
a key reason for the decline to the 1.50 zone was the expectation of a drop from 35% to 15%
I feel comfortable - that whatever else was happening - that drop in PPS was directly related to lower dollar value of the NOLs as corporate rates to be sheltered from drop
Why the drop from 1.50 to below one dollar escapes me as it becomes clear the final top corporate rate will be 25% not 15% (which is 10 percentage points or 40% higher)
Why the drop recently ?
Ref: Quote:
James Carreon testified before THJMW
when he worked for A&M, stating that the NOLs would dissipate with the return of the Capital Gains.
Commentary:
Yes, NOL's would dissipate, namely be offset, with the return of an equal amount of Capital Gains. If so, a good thing. As Income would be realized, (before offset of NOL's) to an amount equal or exceeding the $ 6 Billion NOL's.
NOL's are a value asset. Unused NOL, (amounts available after 2 yr carry back), can be carried forward 20 yrs.
Features:
1) Offset against any type of "Taxable Business Income", (capital gains, etc.,)
2) Extinguished If:
a) 20 year limit exceeded,
b) => 50 % merger, namely ownership change, can cause loss.
To avoid loss of NOL's a merger would be conducted without equity offering that would cause a ownership change. This would be by using preferred stock that has both:
1) NO voting rights,
2) NO conversion to common stock.
Conclusion:
NOL's are an attractive asset and a boost to cash flow. Each $ offset of Taxable Income protects the outflow of cash to the IRS.
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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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