Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
That's a good one. This Wednesday then!
BOOM !!!!!!!!!!!!
That is 100% common sense when you really think about it.
this is where the ambiguity is about safe harbor assets, if in fact they do exist....I am positive that WMI would have taken assets and put them away from being seized, as they probably had some idea that the OTC was going to seize them....China is doing that now with assets in American banks, they are moving them off shore because they may suspect our government might seize them in they invade Taiwan...having said that...only the assets that were disclosed in court have meaning to the chapter 11 closing..not what WMI has outside the chapter 11...those totals were never revealed to Nelson and Folse when they questioned Kosturos and others... those assets are separate from what the judge adjudicated for the bk closure.....the corporate veil was never pierced for WMI, and so no one knows, how much, and where these assets are...to be sure, they cannot be discussed here on the message boards, because they belong to WMI, now Wmih..thats why coop is buying all the shares back, and 90 % of the O/S belong to tutes....someday, the "cookie jar" contents will be revealed....coop is the tell, to quote the cowboy... Lodas
read WMIL-T frequently asked questions......in this report Rosen stated that the message boards were rife with speculations that WMI had safe Harbor assets...he staes , his words, not mine, that WMI had no safe harbor assets, as they were sold to GSE (government sponsored entities)....now, there may be oodles of MBS that did not pass Freddie and Fannie standards to buy, so they were sold to private investors...many of them that JPM got were put backs because they defaulted..remember when JPM was accused of ROBO signing?...those were the ones that were not sold to GSE, but private investors...another point.... the whole purpose of writing and securitizing MBS is to get rid of them, and convert them to cash,....not hold them until maturity...so read the remarks by Rosen... he states WMI held no safe Harbor assets...besides, WMI forfeited all their assets to JPM to get the GSA to come out of chapter 11, so it makes no difference anyway, who has them now.... WMI gave them up, thats why the stock was abandoned as worthless, and they got a NOL in return...Lodas
Lodas, care to define "WAMU" ? Half of what you say may be correct, but we all know how you like to spin Yarn.
"WAMU had no Safe Harbor assets, they were securitized and sold to Freddie and Fannie....Lodas"
the hedge funds were doing insider trading because of a meeting held by JPM that they had struck a GSA deal with FDIC, SNL holders and creditors of WMI that the various classes would be paid in full, plus interest for their claims... previous to this meeting the debt instruments were selling far below their worth...in the GSA agreement, WMI, in return for abandoning all claims against JPM, and forfeiting all their assets, WMI was to receive 4 billion in savings deposits, plus 2.5 billion dollars share in the tax refunds...which was about 6.5 billion dollars...WMI, through A/M liquidated about 400 million in their assets, and were to form a WMIL-T to fund the money to pay creditors claims in FULL, plus INTEREST... thats why Nate Toma went before the judge, because he suspected hedge funds were furiously training by inside information....so, the hedge funds were not trading for Safe Harbor assets of WMI, they were trading for the various debt instruments that were going to be paid FULL VALUE, PLUS INTEREST....WAMU made the loans and securitized them and sold them to the GSE... all of them..thats why JPM sued the FDIC because a lot of them were faulty, and had put backs....WMI had to make a deal to come out of chapter 11 simply because JPM was going to counter sue WMI for 27 billion dollars if WMI initiated any court action to pursue their assets....The litigating trust arm of the WMIL-T was a red herring... it never sued JPM for what assets JPM received from them...the only action they brought was the Employees claim that was denied, and we got their portion of the shares allowed to them...Rosen was correct in his statement... WAMU had no Safe Harbor assets, they were securitized and sold to Freddie and Fannie....Lodas
CLASS 19, AS CLOSE TO PROOF as we get UNTIL Distributions-THANKS to Dmdmd1 for FABULOUS RESEARCH!!!
The very last couple of paragraphs are updated with IMO…my conclusions as of September 24, 2022 @ 0956 CST:
Quote from: Dmdmd1 on October 08, 2020, 03:55:19 PM
IMO ...my conclusions as of October 08, 2020 @ 1453 CST:
The Bonderman et al. Timeline :
1988: Robert M. Bass Group along with David Bonderman (COO of Bass Group) bought American Savings Bank from FSLIC (predecessor to FDIC)
__________
August 1989: Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)
https://www.uscfc.uscourts.gov/sites/default/files/opinions/SMITH.AMERICANSAVINGSCORRECTED061611.pdf
PDF page 4 of 27
“ In August 1989, Congress enacted the Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”), Pub. L. No. 101-73, 103 Stat. 183. The result of this legislation, in part, was that the Note Forbearance and Warrant Forbearance were invalidated, thus depleting the amount of regulatory capital held by American Savings. Accordingly, the bank had to increase its levels of “real” capital that is investments of money or property that increased the bank’s net worth. This is unlike “regulatory capital” which only exists because regulators accept it for regulatory compliance.
During a deep recession in the California economy, American Savings became profitable and recorded net income of $247.6 million in 1990. Am. Sav. II, 62 Fed. Cl. at 10. It described itself in 1991 as “one of the most profitable depository institutions in the nation.” Id. (internal citations omitted). In 1996, Plaintiffs entered into an agreement to sell American Savings to Washington Mutual, Inc. Pursuant to its warrants, the FDIC, as FSLIC's successor, would have been entitled to receive a portion of the sales price in the Washington Mutual transaction after distribution of the preferences. However, the FDIC and the Bass Group negotiated a modification of their prior agreements under, which the FDIC agreed to accept 14 million shares of Washington Mutual stock, with the Bass Group receiving 26 million shares (a 65-35% split). In January 1997, the FDIC sold its Washington Mutual shares for a net amount of $651.7 million.“
__________
July 1996: WMI bought American Savings Bank making Robert M. Bass Group the biggest shareholders of WMI, and putting David Bonderman and J. Taylor Crandall on the WMI BOD.
__________
December 24, 2002: Bonderman and J. Taylor Crandall were forced to resign from WMI BOD due to pending American Savings Bank litigation against the United States (FSLIC/FDIC)
https://www.americanbanker.com/news/wamu-wants-shares-in-keystone-escrow-account-released
Published December 24, 2002
“Wamu Wants Shares In Keystone Escrow Account Released
December 24, 2002, 2:00 a.m. EST
2 Min Read
?
SEATTLE - Washington Mutual Inc. announced Monday that it is seeking to have 18 million of its own shares and about $85 million of cash released from an escrow account formed when it bought American Savings Bank in 1996.
The $262.2 billion-asset Seattle thrift company said that the account, managed by Bank of New York, was scheduled to be dissolved Friday. But the account's beneficiaries, the Federal Deposit Insurance Corp. and the former owners of American Savings, are disputing that termination, a Wamu spokesman said.
The FDIC has requested that Bank of New York not release the shares and said that the account's life can be extended for up to four years, Wamu said in a press release.
According to the company's annual report, 65% of the escrow account should be released to the former investors in American Savings' previous parent, Keystone Holdings, and the rest to the FDIC's Federal Savings & Loan Insurance Corporation Resolution Fund, when Wamu receives proceeds from a 1992 filed by American Savings against the U.S. government.
A Wamu spokesman said that the funds should revert to the company if the shares are released but should have "no material impact" on earnings.
The disagreement over when to release the funds has prompted a change in the structure of Wamu's board. "In order to facilitate discussions among the parties," two directors affiliated with Keystone have resigned, the thrift said.
The directors are David Bonderman, who owns 1.4 million shares held in the escrow account, and J. Taylor Crandall, who owns 2.4 million, according to Wamu's most recent proxy statement.
The dispute stems from a lawsuit in which American Savings, of Irvine, Calif., accused the government of breach of contract in the sale of distressed savings and loan assets to Keystone. When Wamu bought Keystone in 1996, it put 8 million shares in a litigation escrow account for the benefit of American Savings' previous owners and the FDIC, to be released when and if Wamu received proceeds from the lawsuit.
Thanks to two stock splits, those 8 million shares have ballooned to 18 million. The escrow account also holds accumulated interest and dividends.
The U.S. Court of Federal Claims gave its summary judgment to the case in April and concluded that the government had breached the contract. The FDIC claims the summary judgment established the conditions for an extension of the escrow account.
A spokeswoman for the FDIC would not discuss the matter.
As a successor to American Savings, Wamu said it can still take home reimbursement for its part in the long-running suit, if the proceeds exceed $516 million. The company is still waiting for a decision on the monetary settlement to the case.”
__________
April 08, 2008: Bonderman et al. (“TPG Investors” = $2 billion + “Institutional Investors” = $5.2 billion) infused $7.2 billion cash into WMI. Thus making David Bonderman a WMI director again.
__________
June 11, 2008: China sovereign fund invests $2.5 billion into TPG VI
https://www.perenews.com/report-china-invests-2-5bn-in-tpg-fund/
“TPG has reportedly become the latest US buyout firm to attract Chinese state investment, with the country’s State Administration of Foreign Exchange agreeing to commit more than $2.5 billion (€1.6 billion) to its sixth buyout fund [TPG VI].”
__________
June 24, 2008: WMI BOD ratifies plan to sell more than 50% of WMI (I.e. toxic assets like Long Beach Mortgage) to TPG investors.
__________
September 25, 2008: WMB was seized by OTS despite being solvent, and WMI was also looking to sell itself during the summer of 2008.
__________
September 26, 2008 @ 0800 EST: Exchange Event occurred.
Bonderman et al. were issued preferred stock.
__________
November 17, 2008: Docket #301 filed by “TPG Investors” declared redacted amounts of:
1) common shares
2) Series R
3) Series I
4) Series J
5) Series L
6) Series M
7) Series N
__________
April 01, 2011 (corrected opinion filed June 16, 2011): Bonderman et al. (Keystone Holdings Group formerly Robert M. Bass Group) was awarded $83.318 million for “American Savings IV” litigation.
https://www.uscfc.uscourts.gov/sites/default/files/opinions/SMITH.AMERICANSAVINGSCORRECTED061611.pdf
PDF page 2 of 27:
“ SMITH, Senior Judge:
OPINION and ORDER
This Winstar-related case is before the Court following a 15-day trial on damages for the Government’s breach of the Warrant Forbearance, which is on remand from the Federal Circuit, Am. Sav. Bank, F.A. v. United States, 519 F.3d 1316 (Fed. Cir. 2008) (“American Savings IV”). The Warrant Forbearance allowed American Savings Bank to count the value of stock warrants granted to the Federal Savings and Loan Insurance Corporation (“FSLIC”) towards its regulatory capital. Plaintiffs seek to recover damages based upon several alternative theories: lost profits, cost of replacement capital, and/or reliance damages. The Court issues this opinion after considering trial testimony and exhibits, post-trial briefs, and closing arguments. For the reasons stated herein, Plaintiffs are hereby AWARDED expectancy damages for their lost-profits claim in the amount of $83,318,000.”
__________
September 13, 2011: Judge Walrath’s ruling stated “Colorable Claims” of insider trading by AAOC/SNHs
Per my previous post regarding "Colorable Claim" of insider trading:
https://www.boardpost.net/forum/index.php?topic=13141.msg229068#msg229068
"I wanted to separate this thread for ease of access when searching for this document:
http://www.kccllc.net/wamu/document/0812229110913000000000006
As of September 13, 2011, Judge Mary Walrath’s court Gave this ruling:
PDF page 125-126 of 139
“ The Plan Objectors disagree with the Settlement Noteholders’
contention that the settlement negotiations were too tentative to
be material. The TPS Group asserts that over the course of
negotiations it became clear that a settlement was more probable
(as issues were resolved) and that the funds available to the
estate were increasing. The Plan Objectors argue that the
materiality of the information is evident from the fact that as
soon as the Settlement Noteholders were free to trade on that
information they did: engaging in what the Equity Committee
characterizes as a “buying spree” concentrating on acquiring (at
a discount) junior claims because the Settlement Noteholders knew
(although the public did not) that the junior creditors were
likely to receive a recovery. (AOC 18; AOC 54; AOC 62; Au 8.)“
PDF page 137-138 of 139
“ For all the above reasons, the Court finds that the Equity
Committee and the TPS Group have stated a colorable claim that
the Settlement Noteholders engaged in insider trading under the
classical and misappropriation theories.”
__________
October 17, 2011: Wildcat Capital Management, LLC was incorporated in Delaware (David Bonderman’s family office)
__________
November 17, 2011: Thackeray III Bridge, LLC was incorporated in Delaware (IMO...I contend this is one of the many DSTs where WMI and WMIIC transferred assets, including beneficial interests in bankruptcy remote MBS Trusts created by WMI subsidiaries)
__________
March 19, 2012: Effective Date of Chapter 11 emergence
Bonderman et al. Released potentially 822,871,428 shares of common stock (WAMUQ)
1) “TPG Investors” = 228,571,428 shares of WAMUQ
2) “Institutional Investors” = 594.3 million shares of WAMUQ
__________
So main question: Why hasn’t Bonderman’s investors (including the Chinese) sued him for losing $7.2 billion within 6 months from the April 08, 2008 WMI Transaction?
IMO...my answer: Bonderman told his investors to wait for the long game which currently potentially has Bonderman et al. owning approximately 822,871,428 shares of common stock (WAMUQ)
Thus, Bonderman et al. = 822,871,428 shares of common stock / 1,194,340,178 total shares released = 68.89% of the common shares released are owned by Bonderman et al.
Potential recovery for WMI Escrow Marker Holders are at least $101.9 billion (beneficial interests in MBS Trusts created by WMI subsidiaries) not including over 12 years of interest.
________________________________
I want to post this here because it’s important to the timeline.
Nate Thoma testified in front of Judge Walrath in summer of 2011:
http://s.wsj.net/media/sg061011.mp3
Listen to the whole thing, it’s very interesting with plenty of evidentiary data.
03:33—October 18, 2010 hearing, SNH claimed : 70% of PEIRS
Thoma stated: disenggenuous because the SNH owned:
10% Senior Notes
74% Senior Subordinated Notes
69% PEIRS
10:21–Appaloosa first purchased PEIRS on 9/29/2008 @ $0.0004 per share
Owl Bridge & Centerbridge first purchased PEIRS on November 2008 @ $0.02 per share
Aurelius first purchased PEIRS on January 2009 @ $0.03 per share.
All purchased Subordinated Notes in a bankruptcy stock above par!!
14:01—If creditors wanted to get their recoveries sooner they could have just sold on the open market. WMI Senior Notes were trading above par for ten months since February 2010 (prior to the date of the hearing…July 2011…not sure of the exact date of Nate Thoma’s testimony in court).
Senior Subordinated Notes traded above par for nine months since March 2010.
_________
IMO…my conclusions as of September 24, 2022 @ 0956 CST:
1) Bonderman et al won their American Savings litigation on April 01, 2011.
“ April 01, 2011 (corrected opinion filed June 16, 2011): Bonderman et al. (Keystone Holdings Group formerly Robert M. Bass Group) was awarded $83.318 million for “American Savings IV” litigation.
https://www.uscfc.uscourts.gov/sites/default/files/opinions/SMITH.AMERICANSAVINGSCORRECTED061611.pdf
PDF page 2 of 27:
“ SMITH, Senior Judge:
OPINION and ORDER
This Winstar-related case is before the Court following a 15-day trial on damages for the Government’s breach of the Warrant Forbearance, which is on remand from the Federal Circuit, Am. Sav. Bank, F.A. v. United States, 519 F.3d 1316 (Fed. Cir. 2008) (“American Savings IV”). The Warrant Forbearance allowed American Savings Bank to count the value of stock warrants granted to the Federal Savings and Loan Insurance Corporation (“FSLIC”) towards its regulatory capital. Plaintiffs seek to recover damages based upon several alternative theories: lost profits, cost of replacement capital, and/or reliance damages. The Court issues this opinion after considering trial testimony and exhibits, post-trial briefs, and closing arguments. For the reasons stated herein, Plaintiffs are hereby AWARDED expectancy damages for their lost-profits claim in the amount of $83,318,000.”
2) The above litigation gave birth to the Underwriters indemnification claim of $96 million
3) The Underwriters along with any creditors or SNHs (Senior to Equity Class 19 & 22) could have settled for above par if they bought and sold Senior and Subordinated Notes in the open market throughout the bankruptcy proceedings.
4) The Underwriters even decided not to pursue Class 18 claims ($24 million), they decided to relinquish them in the March 28, 2013 stipulation (over a year after the POR7 was approved on March 19, 2012).
5) I don’t know the exact dates when SNHs started buying Class 19 WAMPQs but they obviously released them.
6) So why would the SNHs buy WAMPQs?
7) Why did the Underwriters want to stay in Class 19?
IMO…the answer is they knew that it would yield the most money in the WMI recoveries matrix.
xxx
And in Rosen's one little statement, all the obfuscation and misunderstandings reside. Did he mean WMB or WMI? THE biggest tell to me has always been the hedge funds that bought up the debt thereby allowing them in on the BK negotiations, and then used that information to trade on. Why would the hedge funds risk prison, equitable disallowance, and fines??????????? They already have more money than God. Really, why would they risk it for nothing????? PERIOD.
SAME HERE
R D
None of your links work all come up as page not found.
GO4AWILDRIDE
This will trigger the mergers of Coop
What is happening in the DTCC
https://www.dtcc.com/.../Files/pdf/2022/9/22/17380-22.pdf
https://www.dtcc.com/.../Files/pdf/2022/9/19/17370-22.pdf
https://www.dtcc.com/.../Files/pdf/2022/9/16/17367-22.pdf
https://www.dtcc.com/.../pdf/2022/9/15/REVISED-a9208.pdf
That’s right. From COOP is the tell now people are posting Lehman is the tell, joined at the hip, all nonsense.
You mean MONEY LIKE THIS
TRUTH YA REALLY WANT THE TRUTH ? WELL HERE IT IS
1.You can't set up a DST with NO ASSETs, you can't set up any trust with NO ASSETS.
Example;
How a Delaware Statutory Trust Works | DST Investment
https://www.re-transition.com › investing-delaware-stat...
Delaware Statutory Trusts typically require a minimum investment of $100,000, and an investor can acquire or exchange into ownership in one or multiple DSTs.
2. Trustee's OF A TRUST ARE PAID, HOW is KOSTUROUS being paid IF IF IF there IS IS IS NO MONEY IN THE TRUST?????????
3. When a trust has exhausted all of it's assets and have returned assets dues to beneficial interest holders per trust requirements, THE TRUST IS DISSOLVED.
HMMMMMMMMMMMMMMM think about it USING COMMON SENSE AND LOGIC and AND then tell US ALL there is NOTHING LEFT
1. A trust was set up
2. KOSTUROUS IS IS IS BEING PAID
3. THE DST HAS NOT BE SHUT DOWN
NOW HOWDAYDODAT with NO MONEY just like HOWDAY pay the lawyers almost A BILLION DOLLARS during this case
LOGIC and COMMON SENSE USE THEM THEY WORK
Wamu already received everything they will get from a LIBOR payout it was only in the millions and it went to the FDIC….
Yes they were deemed worthless and today they are were zero…..
Now you are attaching escrows payout to Lehman…..really……
Sorry about your issue:
EscrowFluenza is a direct result of not signing timely releases by 3/2012 to receive NewCo/WMIH shares and Future Distributions
Definition of EscrowFluenza - one becomes very irate, irritable, hateful, low self esteem, dizzy, sleepless nights and volatile at the very mention of Large Style monies returning to INVESTORS WHO SIGNED TIMELY RELEASES BY 3/2012
xxx
You know People Lie Right? There was nothing for Common yet we received Stock in the New Company. You put too much trust in Strangers. Especially well dressed Liars! It’s their a Job to Lie!
$0.00 PER COMMON
$0.00 PER PREFERRED.........more like escrows reality innit.
Best part is, even if any recovery is real, I get to go fight with my broker to return my shares and what I’m owed… yeah, right.
One thing that is real IMO is that this economy is going down the crapper!
What a travesty and a case study of the crooked system that permeates our financial system and markets.
lodas, lodas, lodas, come on, Rosen was working the WMI bankruptcy. Theoretically, even if he had knowledge of safe harbor assets, he could not speak about them because they were not part of the bankruptcy.. Exactly why everytime Susman and Godfrey brought them up, Walrath shut them down.
Nice try.
ND9
WAMU securitized 2 trillion i RMBS?....there needs to be a link to that statement....why didn't this sum of assets ever appear in court, and how did lawyers and accountants miss this huge sum of money?........the POR 7 says that WAMU forfeited all its assets to JPM because the cost to litigate would have taken many years, and huge court costs, and besides JPM was threatening a 27 billion dollar claim against WAMU if they pressed court action....in return for forfeiting their assets, WMI got 4 billion in depositors funds, and 2.5 billion share in the tax refunds...that money, along with about 400 million, WMI created the WMIL-T, and paid off Creditors to bring WMIH out of chapter 11...its all in the POR 7, and chapter 11 closing..... a must read.....Lodas
Rosen said WAMU had no safe harbor assets as they were all sold to GSE (government sponsored entities)....the whole purpose of the MBS was to sell them off as fast as they were written to convert them back to cash... why would WAMU hold 1.5 trillion dollars of dead money....besides, the LIBOR lawsuits were settled, and the FDIC received WAMU's share, if any.... there still is a 16 billion dollar hole in WAMU's balance sheet held at the FDIC.... Califano testified to that in court....Lodas
According to the FDIC;
“WMB Securitized $2 Trillion in RMBS of which $500 Billion was sold to government agencies like F&F.
Those RMBS where insured as required by the offering’s Prospectus by Derivative Contracts that have not been resolved as of yet.
This is why WaMu, Lehman’s, F&F Safe Harbor portfolios have not surfaced yet.
Just needs to resolve the LIBOR loss put backs.
That is why AAOC so aggressively wanted WaMu.
But we got it,
Ron
many of you that are expecting more returns for F/R signed documents thinking that more returns were coming after the chapter 11 closed...at the time these release signatures were made available, no one complained... not even the hedge funds who seemed to be expecting more returns... why didn't the "big whales " complain when they signed the releases?....probably because they read and understood what was agreed to in the POR 7....these hedge funds would have put up resistance to what Sussman and Willingham got for equity... yet they did not complain...only retail investors are complaining after 10 years since the closure of the chapter 11...I don't see any court cases challenging the F/R they got...so, my point?... the time to complain about your F/R, if you though it was not fair, was before signing the releases, and instruct Sussman and Willingham to re open mediation discussions... no one did....Lodas
Did you hear maybe the EOY this year or next year or next year or next year…,,,
Price drop today was bank…….
It is not a demand either..,. As if they are going to jump if you ask…,really
disposed and wiped off,thanks for your help.
Resolve! This is all About Derivative Contracts Resolve.
LIBOR interest rates governed most of the Derivative market which insured the ABS market like RMBS.
WaMu, Lehman’s, and F&F.
Ron
Yeah, just a few more months. Except, in a few more months when nothing happens, a new timeline will emerge. Yawn.
THANKS LG...........whats a few more months......I've always said "2 times PLUS " !!!!!!!!!!!!!!...that would be worth the wait !!!!!!!!!!!!
in the end, the only thing that matters with the WAMU saga is what the judge signed into law....WMI went through 4 years of litigation with various parties, failed to pursue the assets that legally belonged to them, they went through many court hearings about assets and whatnot, but the seminal question remains... what was the outcome of it all?....two documents were adjudicated into law, namely the GSA, and the POR 7 together, and the chapter 11 closing... all else does not matter, because it was never signed into law concerning returning assets to shareholders, off balance Trusts, 86 billions discussed in court... none of that matters... only what was agreed upon by all parties to the chapter 11 closing....in this document, Creditors claims were paid in full with interest, old shareholders were given stock in the new company.... that is what the judge signed into law...that is what Sussman and Willingham agreed to for shareholders F/R...that is LAW.. nothing will change it, short of reopening the chapter 11 by disgruntled shareholders... sorry guys, even if WMIH has quadrillions of remote assets, they were not part of the chapter 11 closure, and signed by the judge.... Lodas
what difference would it make?
where I stand or don't believe will not change a thing.
LG
IF IF IF THERE IS NOTHING ANYWHERE THAT IS LEFT TO DO HERE, THAN WHY IS THIS STILL ONGOING.
Common sense and logic use em, THEY WORK Why is the receivership still in play.
LOOK UP THE MEANING OF RECEIVERSHIP::::::::
IN bobophrased
TAKING CONTROL OF and MANAGING ASSETS TAKING CONTROL OF and MANAGING ASSETS
HMMMMMMMMMMMMMMMMMMM ASSETS
ASK yourself WHAT DID A&M MANAGE OR DO ACCOUNTING ON for several years @ $500,000 per quarter.........
SO did A&M scam the COURT in their filing for compensation?
IF IF IF NOT ask what were they accounting for and managing and keeping books on ??????????
NOTHING??????? ME DOUBTS THAT
LOGIC AND COMMON SENSE USE EM THEY WORK
NOT NOT NOT IF AS YOU IMPLY,
"""THEY ARE WORTHLESS and YOU WILL NEVER GET ANOTHER PENNY>>>>>>>>>>>>"""
.10 beats nadda then ya agree with WOWALTERS in his 86B
Seems ya need to FINGER OUT WHERE YA REALLY STAND or What you believe or don't believe as far as WMI/WMIH/COOP/ LEGACY EQUITY. goes
YES...
Live in TRUTH then you will have FAITH...
diamond, something to think about regarding timing. Keep this in mind first. There is no way the legal teams could have predicted what happened so far (equity surviving plus other actions) not to mention timeframes.
However, experienced legal teams would have known the BK process and what must happen in exact order such as WMILT cancellation/dissolving prior to any distributions NOT to mention Safe Harbor, BK/Remote assets being legally hidden from the active Delaware BK cases.
Now, let's handicap what has happened:
1) BK cases closed 12/20/2019
2) BK cases formally terminated 1/23/2020
3) WMILT CANCELED and not to be confused with dissolved on 12/31/2021 which means there are more actions (what actions if NO assets...Hmmm) AFTER cancelation otherwise WMILT would have been dissolved first
4) UWs fighting for three years to keep COOP from having to answer asset questions while keeping Alice at bay never disclosing anything
5) Ministerial Details completed on or before 3/31/2022
6) Escrow Markers expedited removal by WMILT around 2/8/2022
7) It appears Libor coming to an end by late October 2022 while Rosie mentioned over two years ago there would be little to no monies coming from Libor BUT how could he possibly have known this over two years ago unless just purposeful delays to get to an agreed timeframe for distributions
8) Lehman also filed bk in 9/2008 with the same law firm that handled WaMu and their cases are coming to an end by late October 2022 or before and we know Lehman and WaMu were almost connected at the hip
9) To me, this ALL points to some sort of resolve and/or knowing about future distributions before yearend 2022
XXX
It's not a request...
It was bad enough you stating the WMILT was still operating….now this…really…
There is nothing left…kosturos still being paid is like the coffee lady winning an appeal
105k @ close,491k AH,1.2M total======>don't get fooled by the MM! Somebody wanted these shares! As I wrote earlier I added today again (39th time)
LG...so true....but how long can they drag this ?? there must be a LINE in the SAND somewhere..........a DROP DEAD DATE !!!!!!!!!!!!!!!
WHEN is the BIG question....not the amounts anymore......
Oh yeah let’s not forget the 60k per p.
Yes,
would love to see it, BUT, have lost faith.....
Yeah….they are trembling with your request to pay out 86 billion…
Followers
|
1745
|
Posters
|
|
Posts (Today)
|
45
|
Posts (Total)
|
727149
|
Created
|
11/07/07
|
Type
|
Free
|
Moderators Large Green xoom GO4AWILDRIDE UpTickMeA$AP stoxjock Split T |
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.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |