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Az,
Thanks for the expanded opinion. I am gonna shake some trees this morning, and see if I cant knock a squirrel out of them and have a chat with the fella.
Squirrel regards,
B
However;I am waiting for an 8K telling us BOD deserved some more free shares for all the hard work they did for us.
~ Johhny, (B) Well This Depends On A Few Things ~
Within ALL Financially Court Approved Settlements' ... There are ALSO Time limited restrictions, for the Settling Parties to complete what they had originally, TOLD THE COURT' that They would do in an effort to achieve such Settlement' ...
In My Opinion, ... That "Six Year Rule" time limiting allowance began on 12/12/2011' ... and is quickly coming to an end' ...
I seriously doubt that any of the original settling' parties want the Federal Judges' (plural), that are' and have been involved, want to be told that they were lied to' ...
I believe we are and have been dealing with, ... A propaganda machine, hedge funds, and private equity' ... That financially gain to the positive, the LESS AMOUNT of participants that there are' remaining' ...
BUT' I seriously doubt that the Plan 7 submissions of the Settlement with its Attached Disclosure Statement" ... WILL NOT BE ADHERED TO' ...
I believe in the Trusts' ... I also believe that WMIH-Corp has already tapped into some of the available cash during the Third Quarter of 2017' ...
Neither, The FDIC, Washington Mutual Inc, JPMC, Deutsche Bank, and a very extensive group of others' ... will not' let this original GSA and Approved Plan 7 fall apart' ... There is simply way to many participants as well as way' to much money involved'
AZ
I!m pretty much sure nothing will happen on 12/12 and also not on 12/15.Don't you think we would have heard something by now??And no Ec left to protect against the crooks and our lawyer the biggest crook of all.
I agree C - Lawyers makes more money billing. imo!
AZ,
I disagree that anyone can just walk away otherwise the court has no teeth! If such were the case it would be a free for all.
Regards,
B
"So yes the follow is correct-
Answer: The FDIC will be released when they "Make the Final Payment" according to the GSA and POR7"
CBA09, In your opinion is this post what you expect to happen?
"ron_66271 Tuesday, 12/05/17 01:55:49 PM
Re: AZCowboy post# 498774
Post # of 499050
Thank You, AZ
Therefore, the FDIC must make "the Final Payment" to WMI/WMILT on or before December 12th MAX for "WMB and it's assets", or WMI/WMILT will file litigation to re-open the Case due to the Six Year Litigation Rule. GSA/DS agreement date is Dec 12th.
The FDIC must make "the Final Payment" to WMI/WMILT on or before December 15th-ish for "WMB and it's assets" due to the Five Year CG/CL Tax Rule.
Hint; James Carrion's Testimony. WMILT needs time to file the CG/CL before EOY-2017.
The WMILT Filed Extension means the WMILT will be ready to litigate FDIC for not fulfilling the GSA/DS and Plan 7.
"the Final Payment" for "WMB and it's assets" is due!
-> AZ is Right <-
HLCE,
Ron "
AZC, great post and I too know these dates very well. I agree at the very latest, that within nine days we should see distribution or at the very least notifications of such.
I also believe simultaneous to these actions or within four business days from these actions, we also see an 8K from WMIH showing us the way forward.
____________________________________
From AZC's IHUB post 499042
The Settled Mediated Result of the Judges Court Ordered 2011' Mediation, was achieved and Submitted for the Court's Approval on 12/12/2011, along with a submissions attachment of a mandated Disclosure Statement' ... Again, BOTH contacts were submitted on 12/12/2011' ...
Washington Mutual, Inc., has already completed all of its portion of the Settlement Agreements' ... with Filing # 9901 releasing WMB's "Equity Interest" on 03/16/2012', as was agreed' just ahead of the Plan 7 Implementation Date, which occurred three days later, on 03/19/2012' ... along with the Plan 7 agreed upon disbursement of WMI's Cash Settling Tranche payout' at the Reorganization' ... That Money, WMI's Some $7 Billion Dollars in Cash and Tax refunds', that Cash' ? has already been distributed some five plus years ago' ...
So, ... In My Opinion' and Conclusion, ... IF' ? ... The approved' contractual Settlement and DS, originally submitted on 12/12/2011, are not completed within their original intended result ? ... Then, ? ... there are a multitude of some very, very, very, serious problems'
Have I told you lately how much more, more and more I love my Escrow ShareMarkers that continues to grow immensely every single day forward?
c is what is happening now and all that is gonna happen imo.
Civil,
As per the Fdic there is not 10 year rule in receivership.
Civil Regard,
B
C. Absolutely SuckS!
So if there are no ramifications for C. what keeps them from pulling it!
Regards,
B
That is just blatantly incorrect, the BK is taking place in Delaware where the company is incorporate and a corporation is identified by law and by the courts as an artificial person; so that corp is Bankrupt in Delaware and its state laws are the only ones the Court takes into consideration period... That is why when a corp registers out of state it does so as a foreign corporation now it is true that the corp is subject to that states laws and jurisdiction of its courts in which it operates, rather registered or not because most states have what is called a long-arm statute but not for maters of this Bankruptcy
that can't be good, no more billable hours. Thus it will not happen.
Things are getting very interesting on many fronts.
The request for a 3 year extension by WMILT. For what? They keep saying they don’t have enough free cash to bother making a distribution to finish paying off the PIERS.
The deadlines you mentioned.
The available business days during the holiday season.
The 10 year final deadline of 26 September 2018 for the bankruptcy is fast approaching.
Won’t be long now. Santa is coming!
no, that means they want this to take longer, more hours for billing.
Ref: Question: doesn’t the FDIC require a “release” before any $ distribution happens?
Comment:
No FDIC can make distributions at any time on claims. FDIC makes a determination based on available funds on what claims to pay. Of course they is a priority order and unfortunately shareholders are last.
Of importance is that final release / closeout of FDIC receivership will not happen if any unresolved litigation exist. Assets not of WMB that were transferred to JPM must be put back or paid for.
So yes the follow is correct-
Answer: The FDIC will be released when they "Make the Final Payment" according to the GSA and POR7
~ Ron, Yes These Are Quickly Becoming Serious Times ~
There is much to consider regarding ALL' of the ongoing issues that have been moving forward now for such a very, very, long time' ...
As I referred to the other day, ... I believe the ... "Six Year Rule" ... is quickly closing in on ALL of the Original Plan 7' Settling Parties' ...
Out here in Arizona, within our own legal premise', we refer to this as the, ... "Six Year Rule" ... however, in some other parts of the Country, this is also referred to as a, ... "Contractual Statute of Limitation" ... the time limits allowed for these contractual aligned debt agreement limits, are specifically State' defined' ... Delaware' has a three year time limit' ... however', ... The State of Washington (along with Arizona') has a Six Year Time Limit' ...
The Original GSA was between Washington Mutual, Inc., and the FDIC, with JPMC "allowed" to be an "intervenor" ... Filing # 5885 was a publically filed acknowledgement of the FDIC's wrongdoings within the "Taking" of WMI's property, WMB, the Bank, ...
After Plan 6 failed twice, This eventually lead to Judge Walrath's September 13th, 2011 "Opinion" and her Court Order' for a Mediated Settled Result" ...
The Settled Mediated Result of the Judges Court Ordered 2011' Mediation, was achieved and Submitted for the Court's Approval on 12/12/2011, along with a submissions attachment of a mandated Disclosure Statement' ... Again, BOTH contacts were submitted on 12/12/2011' ...
Washington Mutual, Inc., has already completed all of its portion of the Settlement Agreements' ... with Filing # 9901 releasing WMB's "Equity Interest" on 03/16/2012', as was agreed' just ahead of the Plan 7 Implementation Date, which occurred three days later, on 03/19/2012' ... along with the Plan 7 agreed upon disbursement of WMI's Cash Settling Tranche payout' at the Reorganization' ... That Money, WMI's Some $7 Billion Dollars in Cash and Tax refunds', that Cash' ? has already been distributed some five plus years ago' ...
So, ... In My Opinion' and Conclusion, ... IF' ? ... The approved' contractual Settlement and DS, originally submitted on 12/12/2011, are not completed within their original intended result ? ... Then, ? ... there are a multitude of some very, very, very, serious problems' ...
IF' one simply considers a few the Results of Plan 7 ?, not to mention all of the State and Federal Judges Involved' (don't forget the Court assigned Federal Judge, the mediator'), and the tremendous amount of attorney groups ? ... simply consider a few of the more obvious' issues' ...
* The WMI-LT (propaganda machine) ... was a direct result of the Approved Plan 7' ... March 6th, 2012' ... No Plan 7' ? No LT'
* WMI Holdings Corp. (now, WMIH-Corp) ... is the direct result of the Approved Plan 7' ... March of 2012' ... No Plan 7' ? No reorganized newco'
* The relevance of the continuing D.C. Action, which continued in Judge Collyer's Court' ... No Plan 7' ? No need for the D.C. Actions Result'
* The reaching of the "Globic" Settlement' ... No Plan 7' ? No Globic Settlement'
* JPMC Doesn't Get to Keep WMI's property, WMB' (my own personal favorite, that ? is Not Gonna Happen)
... and so on, and so on, and so on' ...
... So, IF' ? ... There is NO' Completion of 12/12/2011 submitted Settlement and its attached' Disclosure Statement' which lead to Plan 7' ... ? ... Then yes, there are some very serious ramifications' ...
So, In My Opinion ? ...
A: Either Plan 7, and its contractual agreements are fulfilled ?
B: the FDIC is filed against within the allotted - Six Year Rule - Time Frame', Notifying Judge Walrath that the Agreement' Has NOT BEEN COMPLETED as submitted for her approval back in December of 2011 ? ...
or'
C: as the Six Year Time Allowance Passes Next Week' ... Everyone' involved just forgets about everything', ...
AZ
God beat a dead horse why don't you, ATTORNEYS BILL FOR WHAT THERE STAFF DOES!!!!!!!
THAT MEANS THEY WANT MARKER CASH!!!....Stop fixating on one day of billing we've heard enough about it. 1 day, how about this whole case?
I know a lot of rich people and 90% of them never ever have enough,they always want more cfr Rosen who billed us 25 hours in a singel daywhen in fact he probably only worked 8 hours.
I'm sure the multi millionaires, Hedge funds and institutions with tracking markers......Disagree with you.
but they have made enough profits. goodnight.
Not at all,you gave releases and the final payment was done in september 2017 whereby FDIC saw they had to return some money to JPM as JPM didn't make enough profit on our backs.Case closed.You are not even allowed in the settlement.The settlement is between Rosen,FDIC and JPM.Good luck with going to court.
maybe that's the only way they can insure against lawsuits from those people. one thing's for sure it will be interesting to see how it all shakes out. I wouldn't think those lawsuits would hit until after they know how we faired.
everything has an end
Better stop with that crap:the final payment was done in september 2017 with the payment of 645M to JPM.End of story.
Still more than enough time!
Here's the problem, as I see it. We may have been paid, but won't know one way or another, until the BK is finalized and complete.
ron_66271:
'WMILT is due to Dissolve WaMu-1031 Exchange before EOY 2017.
WMIH is due to Dissolve WMIIC before EOY 2017.'
How about this promise from the last shareholder's meeting.
'BOD: If we don't complete a M&A by EOY 2017 you can fire us.'
Thank you for your posts.
Thanks so much for helping all of us! I want this to happen badly however I am set to receive disappointing news on time frames...... but, I think Az Ron and CBA are all over this... Cautiously optimistic. However, I have no doubt about if we will get paid that is most definite. Will fight to the end though either way.
Regards,
B
Ron are your saying we will see deposits into our accounts from our LT markers on the 15th of this month? Is this a total payment or an initial payment? Thx
Thank you and may God's blessings be upon you and your family also sir. We may not know exactly how it will occur but we will all be richly rewarded for our efforts.
Johnny,thank you for sharing my sentiments well!
I can not imagine that this scenario will happen. Should the LT really have to litigate the FDIC for not fulfilling the GSA / DS and Plan 7 then this would certainly become very public. I can not imagine that the FDIC will riding this horse.
GLTA
Spunky,welcome back to posting. Your sharing of your experience and conclusions are appreciated.
Barry, you are too humble. You are definitely Tier 1. You actually got FDIC-R to confirm the independence between safe harbored assets and the receivership...and confirm that JPM only got WMB assets.
That is totally crucial, for so many reasons, most importantly, the releases are null and void! That brings all the non releasing shareholders back into the mix!
Is that backed up by your great DD? Why don't you tell us what your predictions are?
AZCOWBOY,RON,LUckyP,LG,Iprelude,CBA, Docgunz, HotMeat,Mordicai,BBAN,LODAS and manymore 1st tier of the united sharing with the selflessness to help others.
May the Good Lord or whom ever you take a knee before and pray reward you...may your kindness and good you have done for others be revisited upon your spirits as you came in the name of selfless helpfulness!!
Johnyiwantsome will bring in tier two and all those who support the best they can and the good that so many have done here.
Bless you and yours today now and forever. To save a life is to save generations and I am sure you all have given many the strength and hope thru some dark days !
Good on the lot of you regards!!!!!!!!
B speed!
Ron, I think you're brilliant. You have a mind that understands this stuff. I dont. But I am very good at observing patterns. And sadly, historically predictions of Good Fortune fall flat every time. I would like to bet you $100 that we will not have had any significant payments the day after these three business days you speak of.
Well put, and as you said, "And greed has driven the engine of the plan."
Hey CBA09 let me thank you for your great knowledge and DD!
Question: doesn’t the FDIC require a “release” before any $ distribution happens?
Answer: The FDIC will be released when they "Make the Final Payment" according to the GSA and POR7
Hello all. Been here since the actual bankruptcy. Used to post a lot. Now I just watch. But never left. Remember the original posters, many who have quit, passed away or retired from posting. Some have turned out to be liars, and others stuck to their guns.
For those newer members, I can vouch for the fact that AZ has been here since before I was here over 9 years ago. He has been studying this case as much as anyone else I can think of.
Bob's been here too, mostly thinking out loudly.
My current concern is why there would be an attempt to drag this thing out, much less for 3 more years? Can someone explain what benefit there would be to anyone for this? Is this the final FU to us, the shareholders to shake us out before payments start coming in just days away?
If we look at the pattern of communication from our very own BOD, we see them painting a picture of diligently looking for the right fit to make a fabled M&A. Mysteriously, this has never materialized.
Then we have a series of announcements going out of their way to mention potential "reverse splits" and expiring funding with no guarantee that they can line up new funding. Now the cherry on this crap sundae they are serving up is- let's extend this process for another three years. Not 6 months, not 1 year, but let's go for three years with the implication that maybe this could go another 3 years after that.
The BOD is NOT on our side, never was, are not, and will never help us. They are criminals like WGM (Rosen) were "representing the best interests of the share holders".
I would think that the hedge funds would have been making noise by now if they truly do not trust each other and can eat their own as much as they would love to murder us as insolent retail share holder scum. That is assuming that they are not in on this in some way we have not figured out yet.
When I look at how this has played out, our own BOD has gone out of their way to cover their bases and yet achieve nothing material for us. As AZ tells us, this is by design. This is part of the misleading PR machine.
However, other than pure malice, I do not really see the point of making us miserable other than shaking out any who cannot stand the situation anymore. Out of those of us who are left, how many could you realistically shake out at this point? We are in it for the long haul. We have weathered engineered disappointment after disappointment.
So what happens if nothing happens in a few days? Sadly, I would say that AZ and LG might end up having miscalculated. And by that, I want to state that I agree with what they have presented. But this has never gone the way the law intended. And greed has driven the engine of the plan. There could be missing pieces that have been successfully hidden.
So what could we be missing since we do not have all of the information by design? I just don't think the hedge funds are going to unite against the powers that be. But I could be wrong.
And regardless, the only way out is through as far as the time money and effort I have put into this investment up to this point.I would imagine that is true for the original shareholders since the EC was formed.
One thing this should prove beyond a shadow of a doubt. There IS MONEY here! LOTS OF IT! Otherwise, there would not be such an effort to get rid of us.
AZ, I hope you got it right this time like when you got it right and didn't have to blow up your motorcycle way back!
It is time to end this and move on one way or another!
Ron, thank you! 3 business days. Wow! We will all know a lot more very soon!
Outstanding post ron_66271!!
Thank you for sharing your DD and posting here.
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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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