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Simple fact…..you are correct!! Thank you
Simple fact - known and documented since 2016
Why not be safe and say 2030 or 2050…….
The claims attributable to the funds and LTIs in the DCR are not a liability of the Trust
Assets of the DCR will be made available to the LTI holders in accordance with the Plan as and when disputed claims become disallowed. The claims attributable to the funds and LTIs in the DCR are not a liability of the Trust; therefore, no estimate has been made as to the amount of claims which will ultimately be allowed and the distributions which will go to disputed claimants as opposed to current LTI holders. Rather, the financial statements report the net assets being held specifically on behalf of the disputed claimants and the net asset value available to all LTI holders.
https://www.sec.gov/Archives/edgar/data/1545078/000119312519092649/d658548d10k.htm
Me to. hope this year if not then maybe by 2026 but for sure by Judgment day
the 36 million coop shares Divided by releasing holder number. 1.2 B? Or 800 million? It's .04 coop share NOT $.04 so whatever that share price at conversion $50 ? $80? So .04x$80=$3.2 or .04x$50=$2 for each share released
What JPM received an additional 600+ million in addition to their 30 billion and 11 billion….and they only spent 1.89 billion to buy the bank……
@Nova.........ron claims WMI placed 20.7 billion dollars in shareholders Retained earnings in a T-Bill when WMI shows a negative (20.7) billion dollar loss on the Feb MOR submitted to the bankruptcy court... he, (ron) claims it is well documented, but no links to his assertion... ron also claims WMI won 307 billion dollar RICO award in a well documented DC court case presided by judge Collyer, but also without any documentation...ron throws stuff against the wall hoping it will stick with no glue... the fact is Judge Collyer stayed the ruling on the RICO case pending the outcome of the GSA settlement hearings in which WMI abandoned their stock in WAMU, and got a close to 7 billion dollar NOL to cancel the 20.7 billion dollars in shareholders equity....how else could WMI get such a huge NOL without abandoning their stock loss?...Lodas
The lawsuit ended 2016 (!) with a payment to JPM (!)
https://www.reuters.com/article/idUSKCN10U2E4/
But who cares about actally existing reality, right?
>>>>Zacks:Mr. Cooper (COOP) Rises 3% Since Q1 Earnings Beat: Growth Ahead?
Mr. Cooper (COOP) Rises 3% Since Q1 Earnings Beat: Growth Ahead?
https://www.zacks.com/stock/news/2270760/mr-cooper-coop-rises-3-since-q1-earnings-beat-growth-ahead
Good morning people 82.2+ GOGOOOCOOP is the site working slow today ?
GLTA-Ts
👉👉👉LATEST $COOP price targets==>Wedbush:$100, Compass Point:$97, Barclays:$94, KBW:$92, DEUTSCHE BANK:$90, Piper Sandler:$88, UBS:$86
10.9k after-hours volume
https://www.nasdaq.com/market-activity/stocks/coop/after-hours
I agree Ron, $20 B is just a small portion of the assets IMO. Mr.Rosen said they would go thru the brain damage to put a number on LT opening balance sheet, but in Feb 2012 MOR they mentioned WMI Liquidating Trust/DCR(but in court he mentioned about only WMILT, not DCR at all), that was very cute.They under played DCR, WMILT mentioned in SEC filings it was not their responsibility,then there was supposed to be another party to administer DCR,correct?. I like you because you have same drive like me.
The DCR/Retained Earnings.
February MOR Is $20.7, Billion now worth ~$25 that is split 75/25% to satisfy Class 19’s claims.
Hence ~2.5X return.
The Series R will still see another ~2.1X in Performance Payments due.
I have posted the supporting documents.
Ron
DCR is a separate entity with its own EID. DCR was taken over by administrators to reconcile remaining claims and update its books and records. Certain Plan Contribution Assets were transferred to DCR.I believe new stock or cash will be distributed from DCR IMO.
The FDIC Has Really Sued on WMB’s Behalf.
If you signed the W-9 Release, you are Golden.
Ron
Thank you Ron for the Libor Link.
Who May Participate In The Distribution of The Net Settlement Fund? In order to participate in the distribution of the Net Settlement Fund, you must be an Eligible Claimant. That is, you must be a member of the Settlement Class who timely submits a properly verified, adequately supported and otherwise valid proof of claim showing that such member of the Settlement Class transacted in Eurodollar futures or options during the Settlement Class Period. If you are not an Eligible Claimant, you will not receive any payment from the Net Settlement Fund
I don't believe I qualify as a Member of this Settlement Class. During the Settlement Class Period, I did NOT have transactions in Futures or Options.
Probably disqualifies almost all of us from getting a distribution.
What say you??
I think you may have missed all of Bban’s past predictions and that too for years ?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174319302
AZ I am sure we all are happy with that 0.01 increment. No complaints at all.
We all have also been eagerly waiting for that napkin, till now, used mostly for 15 years of ‘tears’
GLTA
Thanks John. But The 36 Million shares are Gone.
Only Treasury shares are at COOP’s disposal.
The 36 million shares are done.
Plus the releasing UQ was 1,215 million shares.
Thanks for the response.
Ron
Everything is fictitious at this point...
Ron, Libor is just a piece of the pie.
So much more to come once it's settled. Bank payment, assets, minerals, etc. Jamie has gotten away with this for far too long. Enough is enough. I'm sure the hedgies have had it with him!
We just need to wait a little longer. Patience.
May I interject in this conversation Ron? Not wanting to be rude.
36,000,000 COOP shares to be issued divided by 1.2 billion WAMUQ that released equals the .03 conversion...don't know where .04 comes from unless they consider it interest added.
So .03 times number of shares owned in one's own brokerage account gives you that person's adjusted/added COOP shares. Now if you are looking for the verbiage from court docs as proof I m not sure where to find it...been to long.
I appreciate your input to the board
Ron the approximate numbers based WM shares outstanding at seizure 876m divided into the 36m COOP share needed to complete project eclipse. Project Eclipse as per Jay Bray was shares for assets.
Semper Fi
Prove Your Numbers!
I’m Calling Total BS.
Ron
The claims attributable to the funds and LTIs in the DCR are not a liability of the Trust????
Assets of the DCR will be made available to the LTI holders in accordance with the Plan as and when disputed claims become disallowed. The claims attributable to the funds and LTIs in the DCR are not a liability of the Trust; therefore, no estimate has been made as to the amount of claims which will ultimately be allowed and the distributions which will go to disputed claimants as opposed to current LTI holders. Rather, the financial statements report the net assets being held specifically on behalf of the disputed claimants and the net asset value available to all LTI holders.
https://www.sec.gov/Archives/edgar/data/1545078/000119312519092649/d658548d10k.htm
Then whose responsibility is that?.
Please Tell Us Where.04x Comes From?
The number is a total mystery to the rest of us.
I’m confident with real math.
Show me the math!
Show Me!
Currently I see the number as fictitious.
Please Prove me wrong?!?!
Ron
BD 100,000 UQs x .041425….. = 4142.5 COOP shares approximately.
Semper Fi
I’m Open for Discussion. LIBOR Numbers.
Please remember that LIBOR is an adjustment for losses due to the manipulation of the interest rates regarding the Derivative Market Meltdown.
A start point;
According to the FDIC; “WMB securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F.”
For discussion: let’s say that the LIBOR manipulation is just a half of a precent. .5%.
Plus remember that the losses are covered by the derivative insurance contracts at no loss to the notes.
.5% plus the losses are paid back.
$1.500 Billion x .005 = $7.5 Billion losses to investors in these WMB insured Notes.
WMI/WMB was required to hold 15% minimum of their offerings.
$7.5 Billion x .15 = $1.125 Billion. This should be annual.
Please see PDF 3;
The action period is August 2005-> 2007 then to 2011
https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/Exhibit-3-Corrected-Plan-of-Distribution/nysd-1:2011-md-02262-04029-003
It’s basically all settled.
Upstream Issues is about criminal penalties.
Yes the FDIC is asking for ~$400 Billion regarding the seized banks losses.
WMI sued the FDIC for $307.2 Billion “WMB and it’s assets “.
The FDIC and JPM lost.
We read ‘$86 Billion for WMB’.
True statement for WMB alone.
Those estimates are only based on WMB’s revenue stream.
No reference to the assets of WMB like WMBfsb with ~$50 Billion in deposit’s and ~$50 Billion in cash, and other Assets.
I’m only discussed the RMBS. What about the rest of the ABS generated by Washington Mutual?
Ron
C’mon man you are messing with cactus new math….
Yes indeed.... An inner compass is way more important than an outer director.
Still no guarantee a distribution will happen as you brought out your napkin math years ago and nothing happened….just a rinse and repeat….
May is shaping up to be very important.
Libor has been eerily quiet. If rumors mean anything something could be brewing. Id gladly take 100b.
But the first settlement could be BBA, not JPM. Lets see if the judge combines them so Dimon can play hide the sausage. This will be a chambers settlement cloaked in secrecy.
The other question is will the Fdic hold firm to its 400b demand or will they settle for half.
Interesting times. The big boys want their money! They have 70% of the estate....we peons just hold 30%. Tepper has players to pay.
At This Point. The Numbers Don’t Work.
COOP would need 607.5 Billion new shares.
1,215,000,000/100,000x5,000,000
= 607.5 Billion shares
I double checked my math.
I had15 minutes.
Yes COOP needs to reconcile with legacy WMI commons for assets utilized.
Or ;
XXXX goes public by only distributions of shares to legacy WMI commons.
Class 19’s claims are already satisfied with the Retained Earnings held in Treasury Notes.
DOCUMENTED!
Ron
~ Sorry Guys' But "NOT" Here' NOT on "COOP" ~
"don't waste (or is that waist ? LOL) any time on the MANY', negative' ad-hoc groups, and especially' the (36k) FOS', research credit takers"
Where Did This Number Come From?
? (.0414252113836481) ?
Ron
Math and share calculations are not my thing. I'm trying to follow 😄 So is it like of 36M in potential reconstituted COOP shares at new $50 value after share reconstitution/dilution = $1.8B worth of new COOP to pass out to those who released. So $1.8B value x 100,000 former UQ released shares by someone (easy math) = 'A MASSIVE friggin number (turn calculator phone sideways) / divided by / 36M shares = $5M
so... a released UQ holder receives $5M in new COOP shares per 100,000 released UQs napkin math? and that's not including 15 years of interest, not including Ps, etc. that would come via various other entities/funding.
Or am I using wack math
Exhibit 3 - Corrected Plan of Distribution.
https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/Exhibit-3-Corrected-Plan-of-Distribution/nysd-1:2011-md-02262-04029-003
Filed today;
DECLARATION of Jeffrey L. Haberman in Opposition re: [4021] MOTION for Disbursement of Funds AFTER DETERMINATION OF REASONABLE FEES DUE, IF ANY. Document filed by David Klusendorf.
Expand the Attachments.
Ron
We certainly are on very shaky ground!
~ No', ... per the filing the shares are in thousands, COOPs Buy Back Is 36,000,000 ... fine print' ~
just sayin'
AZ
AZ did you mean 36,000 not 36,000,000?
~ XOOM, the "COOP" number is (.0414252113836481) ... But I threw my own calculator out ! ! ! LOL' ~
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174375041
not .03
shhhhhhhhh, .... the Buy Back Programs, "COOP's" 36,000,000 X .0414252113836481 ... for every original released wamuq' ... NOT counting, or PLUS' the interest now accumulated' ... ohhhhh woooooow ! ! ... (napkin math LOL')
=================
and separately.
the K's ... Depositary Shares each representing a 1/40,000th interest in a share of Series K Perpetual Preferred Non-Cumulative Floating Rate Stock ... again, on the ... New York Stock Exchange
the P's ... 7.75% Series R Non-Cumulative Perpetual Convertible Preferred Stock ... NOTE WHAT WORDING IS MISSING ? ? ... (the P's are and continue to be ! ! Managed by the WMI / now the WMIH Preferred Managing Sub ! ! !)
"don't waste (or is that waist ? LOL) any time on the MANY', negative' ad-hoc groups, and especially' the (36k) FOS', research credit takers'
~ You're Welcome ... "COOP" as a loan servicing 2018 acquisition, will start the process by re-setting' itself back to 100m shares out ~
"things that should make one go hmmmmm. except maybe those of us who paid attention. 😆 Thanks for being persistent in posting at the HUB".
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174374982
yeppers, like a tic on a mule deer ! ! ! ... yeppers' paid' attention ? ... Yep ! ... (pun intended) LOL
"don't waste (or is that waist ? LOL) any time on the MANY', negative' ad-hoc groups, and especially' the (36k) FOS', research credit takers'
2/28/2024 Isn’t that when coop filed their 10 K?
How come my Google alert job at sent this article from 2013 as a current alert on Washington Mutual? Very strange.
https://www.google.com/url?rct=j&sa=t&url=https://ca.news.yahoo.com/jpmorgans-13-billion-deal-risk-180624919.html&ct=ga&cd=CAEYACoUMTc1NDY1MDQ3MjM1OTE1MDUxNDUyGmVjZjNjZTVlODYyMjkyM2Q6Y29tOmVuOlVT&usg=AOvVaw1SI8Werl2hRKQeDB9gaIW8
"The 'SEC trackable' Preferred Managing sub"s latest SEC filing 2/28/2024 ...STILL....shows the same Seattle address since the inception of the WAMU/Seattle Art Museum collaboration aka later became Russel Investments Tower after receivership. Address: 1301 Second Ave WMC (mail stop) 3501a, Seattle 98101.
Interestingly, the same Seattle address mail stop for the 'preferred managing sub' when cross searched, is shared with a David 'Glen' Davenport, attorney. When you look him up, he has ZERO online presence in Seattle for anything other than this historic Seattle address - not one peep, article, or review, nothing .. But he does show up as an attorney for JPMChase Bank NA under the Texas State Bar. Started in Plano TX just after the Nationstar 'registrant' consummation.....just a quick minute suburban drive to COOP's headquarters in Coppell TX !!!!! It really couldn't be more clear, who's watching over everything... lol. from the preferred managing sub (contains 2017 other securitization subs folded in), to legacy WMI, to reorganized WMI, and to the 'registrant' of WMIH....🎶he's got the whole world in his hands 🎶
things that should make one go hmmmmm. except maybe those of us who paid attention. 😆 Thanks for being persistent in posting at the HUB.
XXXX - pay me
It would seem we have a new pro tag team 🤩not that I really care, just as long as COOP-OTIS keeps reaching for the penthouse 😉💥 EOS
GOGOOOOOOCOOP
Have a great evening people -T$
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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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