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SECTION III: ·waiver of Dividends and Proceeds from Litigation
To the extent, if any, that MMMC is or was a shareholder o:f W aMu or its holding
company and by virtue thereof is or may be entitled to a dividend, payment, or other distribution
upon resolution ofthe receivership ofWaMu or proceeds in any litigation that has been or could
be brought against Federal Deposit Insurance Corporation in any capacity or against the United
States based on or arising out of, in whole or in pa.it, the closing ofWaMu, or any alleged acts or
omissions by Federal Deposit fusurance Corporation in any capacity, the Unitect·States
government, or any agency or department ofthe United States government in connection with
WaMu, its conservatorship, or receivership, MMMC hereby knowingly assigns to FDIC-R any
and all rights, titles, and interest in and to any and all such dividends, payments, or other
https://www.fdic.gov/foia/plsa/10015-wamu-masonmcduffie-mortgagecorp-2023.pdf
Thanks Pick... ♥️
JHD
I see...$4.137B in unsecured senior notes. Could you further explain what you mean by over leveraged?
JHD
That does suck. I pray she has better days!
Was a great close..
JHD
Trying to figure out the top of the new escalator is the hard part. 85,90,100,200 LOL
JWW. Daily closes inserted
Date Open High Low Close Adj Close Volume
Apr 24, 2024 81.00 81.98 78.39 81.72 81.72 1,043,594
Apr 23, 2024 78.48 80.21 78.47 79.48 79.48 596,800
Apr 22, 2024 77.68 78.62 77.28 78.06 78.06 453,800
Apr 19, 2024 75.61 77.67 75.61 77.55 77.55 389,200
Apr 18, 2024 75.76 76.76 75.69 75.77 75.77 271,800
Apr 17, 2024 75.90 76.57 75.28 75.71 75.71 208,600
Apr 16, 2024 75.30 76.01 74.49 75.56 75.56 194,400
Apr 15, 2024 77.16 77.17 74.71 75.49 75.49 271,900
Apr 12, 2024 76.62 76.96 75.00 75.87 75.87 273,100
Apr 11, 2024 76.55 77.29 76.03 77.22 77.22 279,700
Apr 10, 2024 75.83 77.72 75.32 76.45 76.45 498,800
Apr 9, 2024 78.51 78.54 76.25 77.57 77.57 245,600
Apr 8, 2024 77.68 78.15 77.06 77.54 77.54 463,800
Apr 5, 2024 75.92 77.53 75.53 77.13 77.13 602,300
Apr 4, 2024 76.20 76.90 75.44 75.94 75.94 376,900
Apr 3, 2024 75.49 76.23 75.06 75.74 75.74 507,900
Apr 2, 2024 75.79 76.26 75.16 75.84 75.84 401,400
Apr 1, 2024 77.46 77.67 76.59 76.74 76.74 321,900
Mar 28, 2024 78.28 78.53 77.76 77.95 77.95 600,000
——————-
GogoooooCOOP-
Have a great evening people-Ts
GLTA-Ts
Well all in all still nice close today ,AF #s ,let’s see what tomorrow brings with COOP-OTIS, I HOPE 80+ is the new escalator
After Hours Time (ET) After Hours Price After Hours Share Volume
18:03:27 $82.18 1
17:51:25 $82.19 1
17:35:15 $82.19 2
17:23:27 $82.18 1
17:15:57 $82.25 13
17:15:15 $82.21 13
17:01:22 $80.14 1
16:47:00 $82 50
16:34:14 $82.15 29
16:34:10 $82.15 1
16:21:44 $82.2 100
16:13:24 $81.72 7,500
16:06:40 $80.14 1
16:01:50 $81.72 16
16:01:28 $81.72 128
16:01:24 $81.72 1,188
16:01:17 $81.72 704
16:00:46 $81.72 5
16:00:40 $81.72 114
16:00:03 $81.72 210
16:00:01 $81.72 109
16:00:00 $81.72 67
16:00:00 $81.72 584
16:00:00 $81.72 1,251
GOGOOOOOOCOOP
Have great evening people GLTA-Ts
Thanks Pick. I agree. My last parent. The long slide and deteriorating effects of Alzheimer’s sucks
JHD
https://www.courtlistener.com/docket/4215192/12735/1/washington-mutual-inc/
Page 7
Provider further, however that,
(a)in the event that former Trust Beneficiaries receive a distribution and,
(b)Griffin is a fomer beneficiary of the Trust, Griffin shall be entitled to receive her allocated portion of any such distribution.
Short-interest slightly increased to 1.65M as of 04/15/2024
Mom’s are the best. I hope she gets better.
Thanks MB. But how would that impede JPM making its payment for WMB ( and not the 1.9B crap spewed by the resident naysayers) ?
Thanks Mad. Yes mom not so good but thank you.
JHD
Also latest COOP SHORT-INTEREST today AFTER 4:00 p.m. ET
COOP short-interest: https://www.nasdaq.com/market-activity/stocks/coop/short-interest
Dissemination dates: https://www.nasdaqtrader.com/Trader.aspx?id=ShortIntPubSch
It's a 30 mil offering of which 545,000 has been sold. Long way to go for a merger. Acquisition or exchange to take place
You’re are welcome. It’s only right to congratulate you on a 890% Return. That is Phenomenal!
Also, I hope is well with Mom and the Family.
>>>>>Mr. Cooper delivers $181M profit in Q1 2024
https://www.housingwire.com/articles/mr-cooper-delivers-181m-profit-in-q1-2024/
Bray also reintroduced Pyro, Mr. Cooper’s patented mortgage-centric AI platform that the company has been developing since 2019 in partnership with Google. The platform harnesses the power of machine learning and Google Cloud Document AI capabilities to identify and sort thousands of important documents.
https://www.housingwire.com/articles/mr-cooper-delivers-181m-profit-in-q1-2024/
Az COOP was over leveraged before this report. Now they have added an additional $1B in bonds. Yet I do not see an additional $1B on the balance sheet. What is missing?
Semper Fi
Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
X Yes
https://www.sec.gov/Archives/edgar/data/1876566/000187656623000001/xslFormDX01/primary_doc.xml
>>>>>Mr. Cooper Group report top and bottom-line beat in Q1
https://www.investing.com/news/stock-market-news/mr-cooper-group-report-top-and-bottomline-beat-in-q1-93CH-3393549
LATEST $COOP price targets==>Compass Point:$95, Piper Sandler:$88, DEUTSCHE BANK:$88, UBS:$86, KBW:$86, Barclays:$85, Wedbush:$85
And right on cue, they bring it into the red....
Only cactus opinion matters…..yet if he was even close to being right…a distribution would occur just for the interest….yet nothing….
Translation please. XOOM, help.
Quote: “... only allows for a "ONE" Sided Opinion ~ “
One sided opinion—cactus….yet for years….soon has brought nothing….except a make believe payment to only cactus….you can not make this up…
~ hmm' ! ... "WMI / WMIH / now symbol COOP" ... only allows for a "ONE" Sided Opinion ~
necessary to control, and simply more proof' ... later'
just sayin'
AZ
Lower rates, higher volume
Trump in.. lower rates.
JHD
And doing this at a time when many people are saying the economics of our nation are in disarray.. if this is the case wait till this whole monster turns around.
JHD
did you read the documents posted in the POR amended 7?????.... I am not the subject of the discussion here. your expectation of money is!!!!!.... the documents say YOU HAVE NO RIGHTS TO ANY VALUES OF THE ESTATE EXPRESSED EITHER PRE, OR POST CHAPTER 11 BANKRUPTCY CLOSURE.... there is no language in this POR that states shareholders own the estate once the chapter 11 closes, or will ever own anything beyond what was given in return for your release signature.... who told you that the estate will revert to you (shareholders)???... were you told this by other people?... WMI certainly did not tell you that the estate belongs to you in the POR 7...
you are not a shareholder with any rights to former assets of WAMU, WMI, WMIH once you signed the release signature... read the release conditions again, the way it reads, not the way you want it to read!!!!....by the way, you are partially correct, shareholders own the remainder of A-L= shareholders retained earnings, but NOT UNTIL THE COMPANY FILES CHAPTER 7!!!!!.... I may remind you, WMI went through a chapter 11 restructuring, and is QUITE LIVE AND WELL, AND IS NOT DECEASED.......why dont you call the BOD of Coop, and ask for your share of the estate of WAMU, or WMI....get back with me when you get an answer.... Lodas
JWW, thanks!:)
No, shareholders are not before the company.. That is flat out wrong. There is a reason shareholders are always last in line for payout in the chapter 11 process, and why a vast majority of the time, receive absolutely nothing..even when a reorganized company comes out of the bankruptcy.
How has telling each other lies for the last 15 years worked out? It hasn't... In fact, it's led to 100% fantasy failure.. Fantasy nonsense doesn't fair well in the world of reality.
GO $COOP!!
ALL ASSETS BELONG TO THE REORGANIZED DEBTOR
Yo, fanman, companies dont OWN anything. The stockholders do.
Maybe pick up a finance book between installing those fans. Until, you can understand that basic fact, principle..., would advise you stay out of the markets your clearly not qualified to participate in. Unless of course you would like to give away more of your money to those that do.
Welcome to Ignoristan!
Hava-nah-da!
Solid numbers today ..IMO,$100next call,$120 by year end.
Next year...maybe $200 by year end
But,will need much lower rates,and more inventory...to get there.
you are interpreting the POR 7 the way you want it to say.... It says ALL ASSETS BELONG TO THE REORGANIZED DEBTOR, JPM, THE FDIC!!!!!!!.....it also goes on to say that you gave up all the values of the former company in exchange for your release, in all values expressed, or not expressed to the court FOREVER, AND THAT THE ESTATE BELONGS TO THE FORMER COMPANY, AND THAT NO FUTURE PAYOUTS ARE COMING AFTER THE CHAPTER 11 CLOSED FROM ANY SOURCES.... DID YOU READ THAT??????.... Lodas
sCOOPing up shares, could easily close $84+ today IMO
Only positive things in the call up to now! And earnings are great!
That can be answered by the entity managing the asset, but simply put divide the asset by the number of units outstanding, pick a specific point in time and adjust for any subtractions to the revenue stream. KKR may not have been the only subtractions as instruments don't manage themselves and if they were used for others things? So, you can WAG it but w/o all the information... hard to say.
They are still using their DTAs (from WMI) to minimize tax payments...
They said "MOMENTUM WILL CONTINUE in Q2"
You purchased the bond correct? You have been following along since your purchased the bond right? You can add up what KKR was paid and own some form of calculator. I simply corrected your calculation error and pointed out you would be owed a FT more than you thought. I don't own the bond and I am not due any payout from it, so this is kind of on the owners of those instruments to follow along. I can tell you when instruments I own pay out but I dont really think anyone cares about that. One thing is clear, KKR got paid and I believe you will too!.
I've noticed in past earning calls that they tend to run it down ,from open until webcast...then up we go.
I'm sure the same will be true today,since I've not read anything negative to suggest anything but blue sky ahead!
So firstly, your statement was false concerning the 2013 10K. It was not in there although repeated and referenced many times.
Second, your new reference is correct but pay very close attention to what it actually states which is only partially supportive of your posit.
"Except as provided in Confirmation Order, on the Effective Date, title to all assets and properties encompassed by the Plan shall vest in the Reorganized Debtors, Reorganized WMI, the Liquidating Trust, the JPMC Entities or the FDIC Receiver, as the case may be, free and clear of all Liens and in accordance with sections 363 and 1141 of the Bankruptcy Code, and the Confirmation Order shall be a judicial determination of discharge of the liabilities of the Debtors and the Debtors in Possession except as provided in the Plan."
The judge did not allow all assets to be included in the plan. Most WMB assets went to JPMC and the FDIC. The largest chunk being ~184B in deposits which of course JPM would be on the hook to pay back to the former customers of WAMU. Once that is removed, ~60% of assets are addressed.
Remember, in any company Assets = Liabilities (- ) Stock holder equity. SE was ~28-29B, so consider about 92+% of assets were attached to liabilities that the court, LT, FDIC, WMIH paid out to claims approved.
However, those were assets listed in the last 2008 WMI 10K (starting point ), dust settles, 2013 10K. Now consider the financial instruments running outside of the WMB Ch 7 (all assets paid out or transferred), and the WMI Ch 11 reorganization ( many claims against assets, but certainly not all) Tax benefits?
WMI was required to hold interest(s) in the financial instruments they produced in the USA and abroad, MBS,ABS, CMBS, in addition had streams from BONDS. Several times in court people were shut down trying to pull those in but they were primarily owned by the purchasers and in staggering amounts. Had that veil been pierced? It would have plunged the world markets, companies, pensions, etc.. into chaos and would have infected all the other financial instruments issued by other entities. They were backed by residential, commercial real estate, and other pledged assets. So, rightfully and wisely, NOT in consideration. Otherwise 2008 would have been a complete collapse.
Now 15+ years later, surprise! most people paid off those mortgages, refinanced at very low rates, same in commercial, assets matured and continue to mature on the longer duration, and that required piece WMI had to hold along with income streams from the bonds... Viola. The restructuring that left the last claimants in line... they may have extinguished the tradable stock certificates, but all companies, corporations ultimately belong to the share holders. A = L - SE.
Will any payouts come from the final FDIC closure? Will the parent pay out a reconciliation once the dust has settled? Do they legally have a choice?
COOP is a registrant sub reporting exactly what it is required to report and nothing more. Doing extremely well due to the many advantages of the parent, tax credits, etc... Please don't act like your here for altruistic reasons. You might not be happy with the amount of time it has taken, nobody is, but don't pick apart certain statements and ad lib to SEC documents. Some of us know which way the wind blows, we just don't know exactly when.
>>>>WEBCAST and PRESENTATION for 10:00 A.M. ET call here<<<<
Audio webcast: https://edge.media-server.com/mmc/p/76aaah9o/
Presentation: https://s1.q4cdn.com/275823140/files/doc_financials/2024/q1/1Q-24-Earnings-Presentation-FINAL.pdf
How is it possible that the share price of COOP at 9:50 AM EST is below yesterday’s closing price? I’m sure someone here has an explanation.
COOP 78.89 -0.59 -0.74%
Mr. Cooper EPS of $2.73 BEATS BY $0.64, revenue of $564M BEATS BY $60.09M
Mr. Cooper GAAP EPS of $2.73 beats by $0.64, revenue of $564M beats by $60.09M
From: https://seekingalpha.com/news/4093017-mr-cooper-gaap-eps-of-273-beats-by-064-revenue-of-564m-beats-by-6009m
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Moderators Large Green xoom GO4AWILDRIDE stoxjock ron_66271 |
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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