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Regardless of what the coop cheerleader keeps posting daily its pps is going nowhere soon, especially in this uncertain and volatile market.
Not to mention the faltering us housing market, record inflation/economic decline and the massive housing bubble in china thats teetering on the edge.
If the latter does indeed "pop" it will make 2008 look like childs play.
Fyi, their zero covid policy has little to do with covid and everything to do with them trying to buy time.
Was simply a matter of time before it was all exposed as being 100% false.
Hence the current ghosting of ye ole guru..
The Federal Reserve is expected to raise the interest rate by .75% for the third time on Wed. 9/21/2022. Just in time to increase the Mark to Market for the second time this Quarter. IMO we are looking good at least until this time in 2024.
They have a choice...
“Willful Misconduct” is Code Word for RICO.
"We released JPM/FDIC to settle the RICO charge."
Are 'others' involved in the WAMU take down still able to be held accountable?
Such as, those who said to short WAMU, or refused to let it be on the do not short list?
below is the link to the Global Settlement between all parties associated with the Receivership, and creditor claims within the WMI chapter 11 proceedings.... what I find amazing is that those expecting estate returns fail to read it, but still cling to unfounded speculations about return of money for signing release documents.... if the SEC document is read entirely, it says that WAMU gave away all its assets to JPM, for 1.89 billion dollars, and failed to pursue court action against the FDIC, and JPM to retrieve them, as being too costly, and time consuming with an unfavorable outcome because JPM would initiate a countersuit against WMI....pages upon pages of WAMU assets were forfeited to JPM, and it shows up on the Feb 2012 Monthly MOR as (20.77 billion) in shareholder Retained Earnings....yet, no one talks about it on the message board??....the money that everyone is expecting is gone, and has been gone since the GSA was signed, yet some still expect money...I find it fascinating that people still believe that money is forthcoming after 10 years waiting, all agencies involved have said nothing coming back, SEC document thats has pages upon pages of assets given away, and written off shareholders Retained earnings, and they still don't get it, or believe it... Wow.......Lodas
https://www.sec.gov/Archives/edgar/data/933136/000090951810000371/settlement_agr.htm
He has 195,000 shares escrow or had.
“Willful Misconduct” is Code Word for RICO.
We released JPM/FDIC to settle the RICO charge. Civil RICO can be settled with a monetary penalty. A judge can rule up to 3X the valuation.
JPM lost the Dual Track. Judge ruled that JPM must pay full book value for WMB.
Ron
Willful misconduct is admission of guilt!’!! I’m not so sure about that !! I hope it’s true in this case!’ Gltu. Thanks for your response and all your DD here! Thanks
“Willful Misconduct” is an Admission of Guilt.
Why demand a release of “Willful Misconduct” if you don’t need it?
“Willful Misconduct” Release is an agreement that the released party will pay a premium above stated value in exchange for the release.
Please remember that WMI sued JPM/FDIC with a RICO charge!
Yes they settled so a Judge wasn’t required to rule on the change.
Yes just the RICO allegation going full public would have destroyed JPM.
The Dual Track;
JPM lost, is required to pay full book value for WMB plus a premium for “Willful Misconduct” for the release.
The delay is; JPM just needs to know how much to write the check for.
Hence; FDIC litigation regarding LIBOR.
WMI/WMB, Lehman’s, and F&F.
Ron
?????? ripped off?....the shares were removed from my account as worthless by WMI, as instructed to my brokerage house... why not comment on my post back to Newflow about that (20.77 billion dollar) negative entry in shareholders equity?... do you have a conviction as to what negative 20.77 billion dollars mean for SHAREHOLDERS EQUITY LOSS?..I must have missed your comment on the subject among the numerous flurries of posts directed back at me....so, what in your estimation does - 20.77 billion dollars in lost shareholders equity mean for you, and your expectation for monetary recovery in the years ahead?....Lodas
COOP has nothing to do with WAMU and Lehman. And our escrows have nothing to do with Lehman. These are just new fantasies you are engaging in.
If you and AZ really believe COOP and escrows are related, why don't you show up for COOP's earnings call and ask some questions?
The Wamu/Coop is in the Shadows of Lehman and can not be separated. IMO Will all be part of COOP/WMI
https://www.euromoney.com/article/b12kjsf0lgb850/the-numbers-that-prove-lehman-was-deal-of-the-century-for-barclay
https://www.euromoney.com/article/b12kjrj4tyj0rs/jenkins-crashes-back-to-reality-as-barclays-eyes-5-8-billion-rights-issue
disposed and wiped ,thanks for your help.
"and as represented by the transfer to the WMI Liquidating Trust."
Well as I am sitting out side having an L.I.ice tea wondering why this should shock anybody ,just look at the Dated material December 12, 2011 ,duhhhhh sorry but !!!
Have a great evening people while COOP in these times is holding its own as I said/ thought it would IMO.
GLTA-Ts
there it is again in your link in the Feb 2012 MOR under shareholders Equity:
pre petition Retained Earnings (20.77 billion)
post petition Retained Earnings (1 billion)
what does it mean?...IMO it is the write-off of all shareholders Equity in return for concessions to complete the Global Settlement with all parties involved to reach an agreement where WMI is allowed 4 billion dollars in Deposit claims, and 2.5 billion as part of their share of the Tax Refunds... together with some 400 million of Wmi assets to settle creditors claims for about 6.9 billion among various classes...it can be no other... It clearly is listed under SHAREHOLDERS EQUITY HEADING......Lodas
Ive thought that for some time...
If its so valuable when sold? WHY would it not be valuable while they own it? and, be reflected in the current PPS.
Must be like the COOP stock buy back...COOP keeps reducing shares but the PPS is hardly effected.
I am not a fan of the COOP BOD CLOWN SHOW....every quarter, they bring up what it "should" be worth....haha.
BOTH DISTRIBUTIONS - WE RECIVED ONLY ONE YET?.
" in both the Initial Distribution and as represented by the transfer to the WMI Liquidating Trust."
"creditors AND EQUITY HOLDERS"
https://www.sec.gov/Archives/edgar/data/933136/000090951812000138/mm03-2712_8ke991.htm
"Jay Bray and I believe the PPS will increase significantly when COOP sells XOME"
Shouldn't the value of XOME, currently, be close to what it would sell for?
someone who did not sign releases would not hang around and post on the message board after 10 years since the bk closing... that is such a lame , outdated observation....besides, a case has not been made that even if WMI has trillions in off balance sheet assets that they belong to shareholders.....read the chapter 11 closing document.. shareholders were given stock in the new company for their release signatures.........period...Lodas
Jay Bray and I believe the PPS will increase significantly when COOP sells XOME
He said on the Barclays Global Financial Services Conference on September 13, starting at around 26:30...
There is nothing that prevents us from being profitable...Our stock is trading about 30% below book value and that gives you exactly zero for XOME. So I personally think if we get to the finish line, and we are not there, and sell XOME, I would suspect that's going to drive our stock significantly!
You'd think the price would be spiking, big-time?! Bwthdik.
DOC
JPM has a HOLD HARMLESS over anything that happened here and authorized by the courts as part of the GSA.SO again I say they WALK no problems from this thing legally
NOW you know me well enough to KNOW FOR FACT, I am NOT saying it is OK or was the right thing to do, but it was the ruling by the court.
Seriously they had to get this WHOLE MESS WRAPPED UP right or wrong..........
AND HAD THEY NOT !!!! Just exactly what you say WOULD MOST LIKELY HAPPEN and the courts would be flooded with cases or ONE HUGE CLASS ACTION that would open PANDORA's BOX and that aint never imho gonna happen.
FROM Dmdmd1-Bankruptcy-Remoteness FACTS, True Sale, Non-consolidation
FDIC Presentation & CBA09 agree on ABS “bankruptcy remoteness”
« Reply #1 on: Today at 02:36:29 AM »
Quote
I thought it would be easier to access this very important piece of information by starting a new topic.
FDIC presentation on April 27, 2022:
https://www.fdic.gov/analysis/cfr/bank-research-conference/annual-5th/kayotte-sgaon.ppt.pptx
Slide 2:
“ Bankruptcy-Remoteness:
-True Sale
- Non-consolidation
“Structured financings are based on one central, core principle: a defined group of assets can be structurally isolated, and thus…[is] independent from the bankruptcy risks of the originator”
Committee on Bankruptcy and Corporate Reorganizations of the Association of the Bar of the City of New York“
____________
Per CBA09 post on IHUB #457584:
“ CBA09
Wednesday, August 03, 2016 1:11:28 PM
Re: BBANBOB post# 457551
Post# of 687217 Go
Bob,
May be, just may be, the addressed assets in court were those within a "SPE". If designed via a specific manner those so called "hidden assets" would be protected from bankruptcy as follows:
The structured solution to the bankruptcy, true sale, and debt-for-tax issues varies by venue. For example, if a U.S. bank wants to securitize receivables, the structure requires two SPEs to avoid a federally taxable asset sale and to achieve off-balance-sheet financing and a bankruptcy remote structure. In the U.S. SPEs are usually organized as trusts (for tax reasons) under the laws of the state of Delaware or of New York. The first SPE is a wholly owned, bankruptcy remote subsidiary of the originator/seller, and the SPE buys the assets in a true sale. The assets are now beyond the reach both of the creditors of the originator/seller and the originator/seller. Wholly owned subsidiaries are consolidated with the originator/seller for U.S. federal tax purposes, so this achieves the debt-for-tax objective. The second SPE is the issuer of the debt (or ABS) and is entirely independent of the originator/seller. It is a bankruptcy remote entity.”
___________
Per CBA09 post on IHUB:
"CBA09 Tuesday, 12/05/17 07:34:44 AM
Re: hotmeat post# 498530
Post # of 505195
Ref: IMO, WMIIC ""owned/controlled"" these Trusts on behalf of and for the sole benefit of WMI and NOW the WMI Estate/Tracking Markers.
Comments:
SPE/Trust are designed for independent ownership. Not controlled by WMI nor WMIIC.
Yes these SPE's/Trust are the "Crown Jewel" of WMI in it's capacity of being the Parent. Also Facts of great importance:
1) The bankruptcy estate does not have jurisdiction over these SPE's/ Trusts. WMI in its capacity of equity interest does.
2) WMI abandoned it's stock as worthless on record with the Estate. The Estate in turn diverted all future benefits back to WMI. A clever astute move by WMI.
A Turnover action is routine Bankruptcy procedure to bring back to WMI estate what is considered estate assets. And SPE/Trust Income is not part of the estate assets.
We are all good here with the SPE's/Trusts of the Parent - WMI. "
___________
CBA09 Ihub Post#501056:
"CBA09
Tuesday, 12/19/17 08:57:53 AM
Re: TJ0512 post# 501009
0
Post # of 550816
Ref: Couple of questions for you.
In post #498826 you made the comment
WMIIC's role was two fold:
1) Provide / Solidify assets "MBS" as bankruptcy remote. By way of "WMB" (Originator) to WMIIC (Depositor) to Trust. In effect a TWO TIER protection. Totally taking WMB out of any risk of substantive consolidation.
2) WMIIC being the depositor would also be the provider of credit enhancement. Having what is referred to as residual interest. Holders of subordinate certificates & overcollaterized loans.
Are you making an assumption in your comments above?
Comment:
Yes, assumption. My Point / Big Picture - no matter who is the depositor - Material "Force and Effect" of two tier structures.
Ref: In all of the trusts listed in the DB lawsuit as well as numerous other trusts I have seen WMB or a sub of WMB has been the originator & depositor.
If WMI or WMIIC was neither the originator or depositor for the trusts how does that benefit the estate of WMI/WMIIC?
Comment:
Safe Harbor Assets are removed from the estate. Thus. Trustee / Creditors of WMB have no claim to them. WMI is the parent they do.
Example:
Principal Subsidiaries
• Washington Mutual Bank, FA, a federal savings association, all of the common stock of which is held by New American Capital, Inc., a Delaware corporation, and all of the preferred stock of which is held by Washington Mutual, Inc. New American Capital, Inc. is a wholly owned direct subsidiary of Washington Mutual, Inc.
• Washington Mutual Bank, a Washington state chartered stock savings bank, a wholly owned direct subsidiary of Washington Mutual, Inc.
• Washington Mutual Bank fsb, a federal savings bank, a wholly owned direct subsidiary of Washington Mutual, Inc.
• Long Beach Mortgage Company, a Delaware corporation, a wholly owned direct subsidiary of Washington Mutual, Inc.
Ref: Also, On a previous post #498722 you said:
2) WMI abandoned it's stock as worthless on record with the Estate. The Estate in turn diverted all future benefits back to WMI. A clever astute move by WMI.
Where are you seeing that WMI is receiving any future benefit from WMB with regard to the trusts or are you making an assumption?
Comment:
No assumption. First 1) WMI is the parent and rightful benefit to any / all future value of it's wholly owned subsidiaries. If you have any experience in PSA you will see that they are set up to ensure the "Retained Assets" are in fact retained within the SPE # 1 / SPE/Trust # 2.
I want to make this abundantly clear, sharing from my experience, generally the Parent's bank account is where the funds are first received from PSA accounts when the "Accounts Removable Provision" is triggered. Then the Parent has control and funnels whatever money's it deems necessary back to it's subsidiaries. The Parent's control part is the "Operative Word." As no expressed contract (s) are in force so as to direct the Parent as to distribution with funds received. This adds further protection to avoid substantive consolidation by the courts. "
_____________
IMO…conclusions as of April 30, 2022 @ 0230 EST:
1) ABS/MBS Trusts are bankruptcy remote
2) WMI (parent company) and old legacy WMI equity shareholders (Class 19 & 22) are the beneficiaries (via WMI beneficial interests) of the securitized loans in MBS Trusts created by WMI subsidiaries.
XXX
FROM POSTER EXO
FROM EXO
Scul why do you need someone to explain to you again? Let me explain.
In the chapter 11 bankruptcy there was the debtor in possession part and bankruptcy remote part. Are you following? 2 parts, not one, say it with me 2 parts. Good job baby girl. The debtors in possession paid their lawyers, business people $1,000,000,000.00 + during the course of the bankruptcy ( sorry the big number is 1 billion dollars plus). They paid off the debtors in order to close the bankruptcy...So now the debtor in possession part is now legally over, done, finished, past tense ect... Understand? Go back and read it all over if not..
The second part ( remember that from earlier) was bankruptcy remote!!! In other words not part of the bankruptcy, separate from, hence the second part. This is where we stand now going forward. Since this was a chapter 11 bankruptcy they get to reorganize and continue, stay alive, carry on business. There ARE ASSETS that the court could not use (look at, take, sell...because they were protected from the debtors hence bankruptcy remote. There were so many ASSETS the FDICR went to congress to change the law. Congress did but only GOING FORWARD!!! so those ASSETS still belong to the poor old old shareholder) So now we have all these ASSETS that we KNOW ARE THERE, but are protected in such a way that the company has not YET given back to their owners. No one can penetrate the corporate shield or the MANY TRUSTS that have those ASSETS. Following?
So only a few corporate or fiduciary people know how much money is in those trusts (or SPE's specialty purpose vehicles) and they have not told what is there!!! Reread the last sentence several times!!! Now do it again!!! Since they were protected they do not have to legally say we have XYZ.
Let me repeat, WE know there are ASSETS but they were protected from the debtors and for our benefit in such a way they do not need to say we have XYZ in this trust... That is why some can say 1/2 truths and cry... The funny part is old share holders should know the truth and still can not buy or sell any shares. So the lies do not affect the outcome of billions or hundreds of billions that old share holders will receive...If you think the FDIC cried 3 weeks after the theft of WAMU to CONGRESS and that was not a important FACT then go on with your belief that nothing is coming back, I just will not believe you but that is just me.
"Well, maybe LG at some day will explain to me, how a DST can exist without the WMILT *rofl*"
DST is Delaware Statuary Trust. Most all businesses use Delaware... To save time and effort look it up. ROLF There are many, many, many , many trusts because they structure them to protect them from predators or bankruptcy's as in this case.
WMILT Easy simple answer, something different that you should know or not know and it still will not affect the outcome...hahaha
Things happen behind closed doors, nonpublic information, trade secrets, Delaware trusts, Courts redact information all the time yet we live in a free society. Just because something does not make sense to you does not mean its not true. The Earth looks pretty flat to me when I was a kid but now I grew up. I learned, studied, saw pictures and now know... tadaaa the Earth is round hahahaha My opinions are mine and I share them freely.. Take them or trash them as you wish to help you understand even though I think you do but will not accept the truth because it does not fit your agenda. I have never been to space so the Earth is round... Here is another picture... That is not real boohoohoo Facts do not matter right???
I am stepping away. Those that know, know. Those who do not seek the truth will never find it!!!
Have a great day!!!
EXO
FROM Dmdmd1 on April 29 2022
Dmdmd1 Post Follows CSNY - Starts With IMO
Quote from: CSNY on April 29, 2022, 03:25:28 PM
The assets of the protective trusts WMB set up were never in the custody of the FDIC, in my opinion, although I believe the FDIC told the trustee not to disburse anything in those trusts (including income) until the FDIC said otherwise. (I think the FDIC threatened its avoidance powers and the trustee blinked, whatever its counsel said.)
I think that happened in 2021 when Mnuchin was headed out the door.
IMO...My conclusions as of April 29, 2022 @ 1725 EST:
Let's put this all into a simple big picture perspective.
1) If WMI old legacy holders (that were released in March 2012) owned beneficial interests in loans securitized into MBS Trusts ($101.9 billion)
2) assets of WMI were not conveyed by the FDIC (specifically MBS Trusts were bankruptcy-remote assets that were not under the jurisdiction of the FDIC) to any entities. So by simple deductive reasoning, the WMI assets (i.e. beneficial interests in bankruptcy remote MBS Trusts) were not conveyed by the FDIC to JPMC or any other entity. This means that the SPVs/DSTs owned the securitized loans in the MBS Trusts and not WMI, but WMI owned the beneficial interests to the MBS Trusts.
3) Per the "source" the value of WMI assets are valued at $625 billion ($25 billion in cash + $600 billion potentially in COOP stock).
If we assume:
Total in WMI assets in September 25, 2008 (seizure date) = $102 billion
What is the compounded annual interest rate if the total in WMI assets is currently worth $625 billion in 2021 (13 years)
IMO...my answer: approximately 15% annual interest x 13 years
Calculations: (use the simple compounded daily interest calculator from compouddaily.org) Make sure you mentally equate days into years on the calculator
$102 billion x 13 years x annual interest rate = $625 billion
annual interest rate = approximately 15%
4) IMO...ultimately, the WMI assets have grown 15% compounded annually for 13 years.
5) If all the Hedge Funds/big players like Bonderman et al and the underwriters can wait more than 13 years for the WMI recoveries, so can we (retail).
IMO...I concede that the Hedge Funds/Bonderman et al/the underwriters do not have control of the timing of the WMI recoveries. So all of the interested parties have to ask, who does control the timing of the WMI recoveries?
MY answer, it isn't them, and it certainly isn't retail. So who is in control? The public will never know exactly, but we now know who isn't in control.
There is nothing for us retail to do other than to wait along with the "smart money".
IMO...For those who claim nothing is coming back, I just say that's your opinion, and I think that opinion is incongruent with the opinions of the Hedge Funds/Bonderman et al/the underwriters.
xxx
When and WHERE it really counts, they are in MAJOR TROUBLE FOR SURE
More Dots To Connect - JPM NOW Servicing Former COOP Mortgages
READ CLOSELY ALL THE WAY TO BOTTOM-THIS CONNECTS MANY, MANY DOTS TO OUR DISTRIBUTIONS
1) Some BoardPost members reported their mortgages will be serviced by JPM on 4/1/2022...This is a turn-a-round from what we have seen in the past BUT now makes perfect sense on both timing and JPM paying for certain assets as we saw in POR 7
2) Amended POR 7 signed by the court on 2/23/2012 advised JPM must pay Book-Value for certain assets of the WaMu Estate
3) We have not seen these monies since WMILT was canelled on 12/31/2021. JPM MAY gather the assets they wanted to pay for and will proceed with payment on/before 12/31/2022?
4) Now look at the following information I have posted several times over the years
5) Plus the 50B discussed on the recent earnings call on 2/11/2022 with Escrow Shares being suddenly removed same day and then COOP stock rallied seven-plus dollars...hmmm, hmmm
6) This is now all coming together it seems not to mention some investors must be terribly worried
__________________________________________
Remember the Year 2014 & JPM's OFF-BALANCE SHEET ASSETS-Now Look at COOP's Admission of Off-Balance Sheet Assets
***MANY BELIEVE THESE JPM OFF-BALANCE SHEETS Assets were earmarked for the investors who signed timely releases...NO, JPM DID NOT GET ALL OF THIS FOR FREE***
Obligation under an Off-Balance Sheet Arrangement of a
Registrant, Financial Statements and Exhibits (form 8-K)
11/04/2021 | 04:24pm EDT
https://www.sec.gov/Archives/edgar/data/933136/000119312521320180/0001193125-21-320180-index.htm
_______________________________________
WaMu Assets - JPM remitting monies to the Wells Fargo accounts
http://s.wsj.net/public/resources/documents/WSJ-WAMU-Responsive-e-mails092810.pdf
JPM remitting monies to the Wells Fargo accounts set up during bankruptcy, however, we have no idea how many billions are in these accounts and the same goes for the court registry accounts ALL lawyers have been paid from to the tune of almost ONE BILLION DOLLARS- ZERO ACCOUNTABILITY!
Are we forgetting this?
From the GSA:
http://www.sec.gov/Archives/edgar/data/933136/000090951810000371/settlement_agr.htm
Exhibit Z
Loan Servicing. From and after the Effective Date of 3/19/2012, JPMC shall (a) cause such of its Affiliates to continue to service the loans identified on Exhibit “Z” hereto (the “Loans”) pursuant to the servicing agreements identified on Exhibit “AA” hereto (the “Servicing Agreements”), (b) cause such of its Affiliates to remit to WMI all checks and/or payments received in connection with those loans in its possession and (c) promptly (i) remit to WMI all servicing advances that JPMC is holding with respect to such loans and (ii) provide WMI an accounting with respect to each of the foregoing.
Notwithstanding the foregoing, any dispute that may arise relating to the servicing of such loans during the period from and after the Effective Date shall be brought pursuant to such servicing agreements and this Agreement is not intended to create any additional rights, obligations or remedies.
The Parties acknowledge and agree that (y) the Loans are the only loans that are or will be, from and after the Effective Date, serviced by the JPMC Entities (or their Affiliates) for the WMI Entities (or their Affiliates or their successors in interest) and that the Service Agreements are the only servicing agreements between the JPMC Entities (or their Affiliates) and the WMI Entities (or their Affiliates) and (z) with the exception of the obligations set forth in this Section 2.19, the JPMC Entities (and their Affiliates) shall have no further obligations or liability to any of the WMI Entities (or their Affiliates) with respect to or in any way related to the servicing of any loans for the WMI Entities (or their Affiliates).
Notice that it says WMI and NOT WMB?
Also, notice that most of the loans are single-family residential loans?
And let's see what is noted in the P&A between FDIC as RECEIVER of assets from WMB and JPM.
Let's zoom in on Schedule 3.2 (it is called PURCHASE PRICE OF ASSETS, by the way, to avoid any misinterpretation):
(a) cash and receivables from depository Book Value
institutions, including cash items in the
process of collection, plus
interest thereon:
(b) securities (exclusive of the capital stock of Market Value
Acquired Subsidiares), plus interest
thereon:
(c) federal funds sold and repurchase Book Value
agreements, if any, including interest
thereon:
(d) Loans: Book Value
(e) Other Real Estate: Book Value
(f) credit card business, if any, including all Book Value
outstanding extensions of credit:
(g) Safe Deposit Boxes and related business,
safekeeping business and trust business, if Book Value
any:
(h) Records and other documents: Book Value
(i) capital stock of any Acquired Subsidiares: Book Value
(j) amounts owed to the Failed Bank by any Book Value
Acquired Subsidiar:
(k) assets securing Deposits of public money, Book Value
to the extent not otherwise purchased
hereunder:
(1) Overdrafts of customers: Book Value
(m) rights, if any, with respect to Qualified Market Value
Financial Contracts.
(n) rights of the Failed Bank to provide Book Value
mortgage servicing for others and to have
mortgage servicing provided to the Failed
Bank by others and related contracts.
(0) Bank Premises: Book Value
(p) Furniture and Equipment: Book Value
(q) Fixtures: Book Value
If you read all this, isn't it very obvious the off-balance figures on the JPM 10k were made public in 2014 and the closing of P&A in 2014 are related? Not the mention the 38 billion of loans which have not been repaid or liquidated returning to the FDIC receivership?
Isn't it very obvious that JPM, as stated in the GSA, was the pure servicer for Single Family Residential loans (a.k.a. mortgages) and that checks and payment are to be remitted to WMI?
THIS REALLY SHOULD MAKE INVESTORS THINK
https://www.sec.gov/Archives/edgar/data/933136/000119312521320180/0001193125-21-320180-index.htm
MR. COOPER GROUP INC. : Entry into a Material Definitive Agreement,
Creation of a Direct Financial Obligation
OR
an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits
WaMu 299 BILLION in ASSETS - FDIC OWN PIE CHART PAGE 7 - ALL COMING TOGETHER
WaMu 299 BILLION TOTAL ASSETS PER THE FDIC
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=135773992
'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF 299 Billion in Assets - This Number should Come Up Again
https://www.fdic.gov/about/financial-reports/corporate/cfo_report_3rdqtr_15/0915_cfo_report.pdf
Bottom of page 7 below pie chart
'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF
xxx
Bban, if JPM made their employees sell their shares, then the employees are NOT bound by the POR, etc. They should therefore still have standing to pursue JPM directly,separate from any WaMU agreement, settlement, etc. IANAL, but this only seems to make sense to me. Who knows how such actions would turn out, though. Were it in Russia, there would likely be a rash of former employees falling out of windows, boats, etc..
I feel sorry for them.
They've been perfecting criminality for over a century.
To no one's surprise.
This makes me almost sick to read
""to the contrary, the release set forth in Section 41.6(a)(1) shall not extend to acts of gross
negligence or willful misconduct of any Released Parties (other than with respect to the JPMC
Entities and their respective Related Persons);
SO ALL OF THOSE HOPING LMAO to sue JPMC FOR ANYTHING can just flush that IDEA DOWN THE TOILET
Thye are HOME FREE and if if if I am correct also HOLD A TON OF SHARES HERE from all their employees..........................
NOT ONLY DID THEY FACILITATE the problem, NOW THEY GET TO PROFIT FROM IT AS WELL
Right on lol
.
. It needs to be skim worthy. Unbelievable
That was ALWAYS KNOWN and why so many of us SCOFFED at those that didn't elect so they could later sue.
ALL IN THE 2008 crisis that took TARP COULD NOT BE HELD LIABLE in any way, they all got GET OUT OF JAIL FREE CARDS and JPMC got one in this case as well
I have been absent for months so AZ admitted it LOL
Yep, JPMC über alles.
Good morning , it’s no surprise the streets are running red again and might suggest 3/4 %is a lock and 1.00 % is A very very good possibility of increase rates (not counting the next increase) and the markets know they think , hold on people it’s about to get a little more bumpy for awhile and hope that COOP can and should weather the storms that’s still to come
Edit
Sweden increase was 1.00%
GLTA-Ts
HOW IN THE WORLD will they be able to do this, short of THROUGH ACQUISITIONS of CO's or ASSETS(WMI;s) to be serviced?
IF IF IF it as as we believe and that being WMI is still alive and still has ongoing MBS's that need to be serviced, it may be those OTHER ASSETS that NSM/COOP is NOT ALREADY SERVICING for WMI..................................................REMEMBER COOP doesn't OWN what they service, they only service those assets/MBS
Or via additional buyouts of other co's
Based on the time line of 3/4th quarters, to me IT SUGGESTS THIS WILL BE FINALIZED in CLOSING OUT our case with the FDICK in the same time frame
ALSO COOP HAS TO PAY FOR SERVICING RIGHTS and this may be where the issuance of shares MAY MAY MAY come into play, paying for all the time they have used them so far as well as moving forward in time......
Well, Looks like Page 99, was specifically written to 'Exclude JPMC & Related Parties" "of any Willful Misconduct" Phu$21k!!!.. There goes any sort of 'dreams' about any 'punitive damages' for Willful Misconduct by 'JPMC & Related Parties"...
"and, provided, further, that, notwithstanding anything contained in this Section
41.6(a) to the contrary, the release set forth in Section 41.6(a)(1) shall not extend to acts of gross
negligence or willful misconduct of any Released Parties (other than with respect to the JPMC
Entities and their respective Related Persons); and, provided, further, that, notwithstanding the
foregoing, solely for purposes of this Section 41.6(a), “Released Parties” shall not include
Related Persons other than (i) Related Persons of the JPMC Entities and (ii) Related Persons of
the FDIC Receiver and FDIC Corporate. "
The market will WAIT UNTIL it is, not speculated to be .......................
Ron Enjoy the reading (sidedraft )also gave the correct p99 I see as I read all the posts , so I will leave this post incase others might want to read it ?
41.6 Releases by Holders of Claims and Equity Interests:
(a) Global Third Party Releases. On the Effective Date, for good and valuable consideration, and to the fullest extent permissible under applicable law, each Entity (Creditor or holder of an Equity Interest) that (i) has held, currently holds or may hold a Released valuable consideration, and to the fullest extent permissible under applicable law, each Entity (Creditor or holder of an Equity Interest) that (i) has held, currently holds or may hold a Release Claim or any Released Third Party Causes of Action, (ii) is entitled to receive, directly or indirectly, a distribution or satisfaction of its Claim or Equity Interest pursuant to the Plan, and (iii) elects, by not checking or checking the appropriate box on its Ballot or election form, as the case may be, to grant the releases set forth in this Section 41.6, on their own behalf and on behalf of anyone claiming through them, shall be deemed to have and hereby does irrevocably and unconditionally, fully, finally and forever waive, release, acquit and discharge (1) each and all of the Released Parties, from any and all Released Claims and/or any claim, act, fact, transaction, occurrence, statement, or omission in connection with or alleged in the Actions or in the Texas Litigation, or that could have been alleged in respect of the foregoing or other similar proceeding, including, without limitation, any such claim demand, right, liability, or cause of action for indemnification, contribution or any other basis in law or equity for damages, costs or fees incurred by the releasors herein arising directly or indirectly from or otherwise relating thereto and (2) each of (a) the AAOC Releasees, (b) the Senior Notes Claims Releasees, (c) the Senior Subordinated Notes Claims Releasees, (d) the PIERS Claims Releasees and (e) the CCB Releasees from any and all Released Third Party Causes of Action; provided, however, that each Entity that has elected not to grant the releases set forth in this Section 41.6, including, without limitation, any Entity that fails to execute and deliver a release following notice in accordance with the provisions of Section 31.6(c) hereof, shall not be entitled to, and shall not receive, any payment, distribution or other satisfaction of its claim pursuant to the Plan; and, provided, further, that, notwithstanding anything contained in this Section 41.6(a) to the contrary, the release set forth in Section 41.6(a)(1) shall not extend to acts of gross negligence or willful misconduct of any Released Parties (other than with respect to the JPMC Entities and their respective Related Persons); and, provided, further, that, notwithstanding the foregoing, solely for purposes of this Section 41.6(a), “Released Parties” shall not include Related Persons other than (i) Related Persons of the JPMC Entities and (ii) Related Persons of the FDIC Receiver and FDIC Corporate.
(b) Limited Governmental Exceptions. Nothing contained herein or in the Confirmation Order shall (1) (i) release, or is intended to release, any non-Debtor, including any non-Debtor Entity that may be a Released Party or a Related Person, in connection with any legal action or claim brought by the United States Securities and Exchange Commission or (ii) prejudice the rights of any such non-Debtor Entity to defend or otherwise contest any such legal action or claim, (2) (i) to the extent that (A) the Pension Plans are terminated from and after the Effective Date and (B) the Pension Plans are underfunded as of the Effective Date, release, or is intended to release, any non-Debtor, including any non-Debtor Entity that may be a Released Party or a Related Person, from any liability as a fiduciary of the Pension Plans, under any law, government policy or regulatory provision, (ii) enjoin or preclude the Pension Benefit Guaranty Corporation from enforcing such liability against such non-Debtor Entity during the applicable statute of limitations period set forth in 29 U.S.C. § 1303 following any such termination, or
(iii) prejudice the rights of any such non-Debtor Entity to defend or otherwise contest any such legal action or claim, and (3) (i) release the claims held by the California Franchise Tax Board, including rights of setoff and recoupment with respect to claims against or among two or more non-Debtor Entities, against any non-Debtor and, notwithstanding any other provision of the Plan or the Confirmation Order, the California Franchise Tax Board shall not be enjoined from pursuing any such claims and (ii) prejudice the rights of any such non-Debtor to defend or otherwise contest any such legal action or claim.
(c) BKK Liabilities. Nothing contained herein or in the Confirmation Order is intended to, nor shall it, release any non-Debtor or non-Debtor Entity that may be a Released Party or a Related Person, in connection with any legal action or claim brought by CDTSC or the BKK Group relating to the BKK Site that is the subject of the BKK Litigation; provided, however, that nothing contained in this Section 41.6(c) is intended, nor shall it be construed, to (1) constitute evidence of or any support for an argument that any such non- Debtors have any such liabilities, or (2) create any liability on behalf of the Liquidating Trust. For the avoidance of doubt, nothing herein shall affect the releases or other terms of the BKK Settlement Agreement, which provisions shall control over any contrary provision in the Confirmation Order, the Plan or the Global Settlement Agreement.
(d) Securities Litigations. Nothing contained herein, in the Confirmation Order or the Global Settlement Agreement with respect to the releases,
exculpations, injunctions or similar provisions is intended to, nor shall it, release, enjoin or impact in any way the prosecution of the claims asserted, or to be asserted, against any non- Debtor or non-Debtor Entity in the Securities Litigations, including, but not limited to, the defendants named in the Securities Litigations (the “Securities Litigations Carve-Out”), nor will any potential distribution on account of the relevant proofs of claim filed by lead plaintiffs in the Securities Litigations and/or which have been withdrawn without prejudice (subject to all parties’ rights with respect to the relevant proofs of claim in accordance with and subject to the terms of the Bankruptcy Court-approved stipulations) be forfeited by virtue of the Securities Litigations Carve-Out.
(e) Tranquility Claim. Nothing contained herein or in the Confirmation Order with respect to releases, exculpations, injunctions or similar provisions is intended to, nor shall it, affect, impact, impair, modify, or limit or otherwise be used to contest the Tranquility Claim, or Tranquility’s ability to receive distributions on account of the Tranquility Claim; provided, however, that the Debtors’ ability to contest whether any subsequent amendments or modifications to the Tranquility Claim were properly filed and relate to the Tranquility Claim are expressly reserved.
(f) Truck and Fire. Notwithstanding anything contained herein or in the Verification Form (as defined in the Supplemental Disclosure Statement Order), with respect to the Claims of Truck Insurance Exchange (“Truck”) and Fire Insurance Exchange (“Fire”) asserted against the Debtors and the Debtors’ chapter 11 estates (collectively, the “Truck/Fire Claims”), including, without limitation, those Claims included in Classes 17A and 17B of the Plan, (a) the release and injunction provisions of the Plan are intended to, and shall release only, all Claims of Truck and Fire against any Released Parties arising from or relating to the Truck/Fire Claims, other than any claims, counterclaims or defenses under or relating to any policies of insurance, and (b) the release and injunction provisions of the Plan are not intended to, and shall not release, any claims of Truck, Fire or any Affiliate of Truck or Fire against (i) a non-Debtor as an investor in securities issued by any such non-Debtor Entity, (ii) WMB, (iii) the Receivership, or (iv) the FDIC Receiver solely with respect to the Receivership.
(g) Texas Litigation. Nothing contained herein or in the Confirmation Order with respect to the releases, exculpations, injunctions or similar provisions is intended to, nor shall it, release, enjoin or restrain the prosecution of direct claims, if any, asserted, or that could have been asserted, in the Texas Litigation against any non-Debtor Entity; provided, however, that the foregoing is without prejudice to the rights of any such non-Debtor Entity to contest, upon notice and a hearing, the validity, merits and ownership of or standing to assert any such direct claims; and, provided, further, that the Bankruptcy Court is not making, either pursuant to the Plan or the Confirmation Order, a determination as to which Entity, including, without limitation, the Debtors, owns the claims asserted, or that could have been asserted, in the Texas Litigation; and, provided, further, that any and all direct claims against the Debtors and derivative claims of the Debtors, if any, that have been or could have been asserted against any Released Party in the Texas Litigation shall, upon the Effective Date, be released, discharged and enjoined.
In addition to, and not in any way limiting the foregoing, each holder of an Allowed WMB Senior Notes Claim and each Accepting Non-Filing WMB Senior Notes Holder shall be deemed to have released the Debtors, the Reorganized Debtors, and each of their respective Related Persons from any and all direct and derivative claims arising from or related to such holder’s WMB Senior Notes, as well as any misrepresentation or other similar claim for damages arising from the purchase or sale of such holder’s WMB Senior Notes (including, without limitation, any Section 510(b) Subordinated WMB Notes Claims that such holder may have).
Waiver of Section 1542: All persons providing releases pursuant to the provisions of Section 41.6 of the Plan expressly and voluntarily waive Section 1542 of the California Civil Code, or any similar, comparable or equivalent provision of the statutory or non-statutory law of California or any other jurisdiction. Section 1542 provides:
A general release does not extend to claims under which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.
41.7 Injunction Related to Releases: As of the Effective Date, all Entities that hold, have held, or may hold a Released Claim, an Estate Claim, any Released Third Party Causes of Action or an Equity Interest that is released pursuant to Sections 41.5 and 41.6 of the Plan, are, and shall be, permanently, forever and completely stayed, restrained, prohibited, barred and enjoined from taking any of the following actions, whether directly or indirectly, derivatively or otherwise, on account of or based on the subject matter of such discharged Released Claims, Estate Claim, Released Third Party Causes of Action or such Equity Interests: (i) commencing, conducting or continuing in any manner, directly or indirectly, any suit, action or other proceeding (including, without limitation, any judicial, arbitral, administrative or other proceeding) in any forum; (ii) enforcing, attaching (including, without limitation, any prejudgment attachment), collecting, or in any way seeking to recover any judgment, award, decree, or other order; (iii) creating, perfecting or in any way enforcing in any matter, directly or indirectly, any Lien; (iv) setting off, seeking reimbursement or contributions from, or subrogation against, or otherwise recouping in any manner, directly or indirectly, any amount against any liability or obligation owed to any Entity released under Sections 41.5 and 41.6 hereof; and (v) commencing or continuing in any manner, in any place of any judicial, arbitrationor administrative proceeding in any forum, that does not comply with or is inconsistent with the provisions of the Plan or the Confirmation Order.
41.8 Exculpation: The Debtors, the Debtors’ officers and directors serving during the period from the Petition Date up to and including the Effective Date, the Creditors’ Committee and each of its members in their capacity as members of the Creditors’ Committee, the Equity Committee and each of its members in their capacity as members of the Equity Committee, and each of their respective professionals shall not have or incur any liability to any Entity for any act taken or omitted to be taken in connection with the Chapter 11 Cases (including any actions taken by the Creditors’ Committee after the Effective Date), the formulation, preparation, dissemination, implementation, confirmation or approval of the Plan or any compromises or settlements contained therein, the Disclosure Statement and the Supplemental Disclosure Statement related thereto, the Global Settlement Agreement, or any contract, instrument, release or other agreement or document provided for or contemplated in connection with the consummation of the transactions set forth in the Plan and the Global Settlement Agreement; provided, however, that the foregoing provisions of this Section 41.8, shall not affect the liability of any Entity that otherwise would result from any such act or omission to the extent that such act or omission is determined in a Final Order to have constituted gross negligence or willful misconduct; and, provided, further, that, unless otherwise ordered by the Bankruptcy Court in connection with the Dime Warrant Litigation, the foregoing provisions of this Section 41.8 shall not affect the liability of any member of the Debtors’ Board of Directors and officers with respect to actions asserted in the Dime Warrant Litigation and relating to the period from the Petition Date up to and including the Effective Date. Nothing in the foregoing Section
41.8 shall prejudice the right of any of the Debtors, the Debtors’ officers and directors serving during the period from the Petition Date up to and including the Effective Date, the Creditors’ Committee and each of its members in their capacity as members of the Creditors’ Committee, the Equity Committee and each of its members in their capacity as members of the Equity Committee, and each of their respective professionals to assert reliance upon advice of counsel as a defense with respect to their duties and responsibilities under the plan
Ts
You'd think the price would be spiking, big-time?! Bwthdik.
Starting on page 99.
This?
COOP's servicing income expected to DOUBLE in Q3 and DOUBLE AGAIN in Q4 according to...
...the earnings call presentation page 7...
https://s1.q4cdn.com/275823140/files/doc_financials/2022/q2/2Q'22-Earnings-Presentation_FINAL.pdf
...and also mentioned in the transcript:
https://fool.com/earnings/call-transcripts/2022/07/27/mr-cooper-group-inc-coop-q2-2022-earnings-call-tra/
The Stock brokerage firm you use have all the history regarding your Buys and Sells. What you purchased and what you sold. That information is forever is their possession and will not be erased. Just so you know, the Holders of the Canceled stock are still the Beneficiaries of any return back to the Estate. Once upon a time, it was written but since then it has been amended and removed. I believe I took a screen shot of it. I’ll look for it when I have the time.
Remember, Peter stated that they prepared for the Take-Down and instead of being the Prey, they were the Predator lying, excuse me laying in wait. This is a Systematic Mechanism designed to do exactly what they did.
It’s a Trend they did it in 87-88, 2007-2008 and now they are setting up for the next rinse(housing bubble.)
Remember the Graphs when Wmih needed approval for the Acquisition. The NOLs were Optimum 2024-2026 when the Market would Peak and then Reverse.
How much Money did WMI have in Foreign Office Deposits?
Assets of the assets are Not part of the Agreements. Period.
So the money in Trust(s) in the Caymans does Not have to pay taxes on the Interest earned. How much Money is there?
$29 Billion Dollars in Cash does not just Disappear without a trace and the Parent Company is not going to ask questions or better yet, not do anything about it. “ Assets of the assets are Not part of the agreements. ” Straight from the Purchase and Assumption Agreement. Facts:
85% of JPMORGAN’s Portfolio is in Foreign Investments for a Reason. PAY NO TAXES!
Will never be satisfied with, "agreeing to disagree".
Absolute nonsense! This is not a competitor of COOP. Want to get cheaper COOP shares, or why do you post this?
It appears that ORI could be a major player like COOP in the insurance and reinsurance industry. It has a market cap of 6.9 BILLION DOLLARS making it a real threat to COOP.
It has 308.8 MILLION SHARES OUTSTANDING WITH A PE RATIO OF 6.85 IT PAYS A DIVIDEND OF 4.21%
Here is it's overview from TDAMERITRADE:
Old Republic International Corporation is a holding company. The Company is engaged in the business of insurance underwriting and related services. The Company operates through three segments: General Insurance (property and liability insurance), Title Insurance, and RFIG Run-off. General Insurance provides property and liability insurance primarily to commercial clients. Title Insurance consists of the issuance of policies to real estate purchasers and investors based upon searches of the public records which contain information concerning interests in real property. The policies insure against losses arising out of defects, liens, and encumbrances. RFIG Run-off segment offers private mortgage insurance, which protects mortgage lenders and investors from default-related losses on residential mortgage loans made primarily to homebuyers. The RFIG Run-off mortgage guaranty operations insures only first mortgage loans, primarily on residential properties.
GO4AWILDRIDE
Lodas is from 2010 and Escrows was available from 2012
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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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