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I haven't heard or read
anything about class 19 and 21 can someone explain to me
why the forever 75/25 Regardless of who is right and who is wrong nobody can change or Affect The outcome Correct?No need for negative energy & jinx it. if you trust in God leave it to God and have peace
The formula has have already been done in the DTCC formula value 19:1 for $59,327.12 for a share of DTCC IMO
"All payments for purchases and sales of Common Shares will be settled on the Settlement Date, which is
currently anticipated to be April 30, 2024. "
"10. How much will each Participant have to pay, on average, to hold Common Shares?
The Share price for the 2024 reallocation is $59,327.12 per share. This Share Price was determined using the
formula set forth in the Shareholders Agreement.
The actual amount of Common Shares that each Participant will own is determined by its respective use of the
services of the Clearing Agencies, and whether it is a Mandatory Purchaser Participant or a Voluntary Purchaser
Participant."
Read
https://www.dtcc.com/-/media/Files/pdf/2024/4/1/MBS1317-24.pdf
AND I'll bet he WILL just ride off into the sunset, never to be heard from again ( ON HIS NEW ONE)
SINCE he SOLD OFF the HD ROAD KING he put up saying that the 75/25 WAS NOT being to the end LMAOROTF
Man of his word RIGHT
JHD
HOW MANY BIG negotiated contracts have you done over the years???????????????????????????????
WHEN YOU had the UPPER HAND in negotiations did you ONCE EVER NEGOTIATE yourself in to a position that you would come out on the short end of the stick
IT DIDN'T THINK YOU DID
Edit
And at the same time DID you ever negotiate a contract where YOU COULD go back and change a court ordered approval of said negotiations or ANY CONTRACT after it was agreed to and signed by all parties???????
I DIDN'T THINK SO
This as you know is what one poster here is trying to CONvince people here that is what happened concerning the payout MATRIX 75/25
COMMON SENSE and LOGIC, USE THEM THEY ACTUALLY DO WORK
Could you explain what the impact this has on us?
P's could be the big winner here...
JHD
Such a short term unpredictable stock....
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 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
read post 725277 as posted by newflow.......
LMAO My way, I think you like it :)
9. How are Common Shares distributed by DTCC? DTCC is not a public company, so who decides the
number and value of Common Shares?
Since only Participants are qualified to own Common Shares, there is no “market value” for the Common
Shares. The price at which Common Shares are transferred from one Participant to another (the “Share Price”),
is determined using a formula set forth in the Shareholders Agreement.
10. How much will each Participant have to pay, on average, to hold Common Shares?
The Share price for the 2024 reallocation is $59,327.12 per share. This Share Price was determined using the
formula set forth in the Shareholders Agreement.
The actual amount of Common Shares that each Participant will own is determined by its respective use of the
services of the Clearing Agencies, and whether it is a Mandatory Purchaser Participant or a Voluntary Purchaser
Participant.
11. Does DTCC pay dividends on Common Shares?
DTCC does not, as a matter of policy, pay any dividends on Common Shares.
12. What powers or benefits are conferred upon shareholders of DTCC by virtue of their owning
Common Shares?
The holders of the Common Shares are entitled to elect all of the directors on the DTCC Board, other than the
two directors who are elected by the holders of the Series A Preferred Shares and the Series B Preferred Shares.
The holders of the Common Shares are also entitled to vote on any matters submitted to shareholders for a vote
n will payments for Common Shares have to be made?
During the first week of April 2024, Voluntary Purchaser Participants will be notified through the DocuSign®
electronic signature service of their opportunity to purchase or obligation to sell Common Shares. During the
third week of April 2024, after DTCC has received elections to purchase Common Shares from Voluntary
Purchaser Participants, Mandatory Purchaser Participants will be notified via email from Computershare Web
Service that a notice concerning their obligation to purchase or sell Common Shares is available on
Computershare’s Investor Center.
All payments for purchases and sales of Common Shares will be settled on the Settlement Date, which is
currently anticipated to be April 30, 2024.
5. How is payment finalized?
A purchaser or seller that is a Participant of DTC will have its settlement account at DTC debited or credited, a
purchaser or seller that is a Participant of NSCC but not a Participant of DTC will have its settlement account
at NSCC debited or credited, a purchaser or seller that is a Participant of the GS Division but not a Participant
of DTC or NSCC will have its settlement account at the GS Division debited or credited, and a purchaser or
seller that is a Participant of the MBS Division but not a Participant of DTC, NSCC or the GS Division will
have its settlement account at the MBS Division debited or credited.
6. How many Participants currently own Common Shares? How many Participants are Mandatory
Purchaser Participants?
Currently, there are approximately 263 Participants that own Common Shares. With the new Mandatory
Purchaser Participants, that number is expected to increase to approximately 283.
7. Who owns DTCC?
DTCC is owned by the holders of its Common Shares. The Common Shares are owned by Participants of the
Clearing Agencies. DTCC also has three classes of preferred shares, the Series A Preferred Shares, the Series
B Preferred Shares, the Series C Preferred Shares, and the Series D Preferred Shares (collectively, the “Preferred
Shares”). The Preferred Shares are owned by Stock Clearing Corporation, a wholly owned subsidiary of New
York Stock Exchange LLC, the successor-in-interest to New York Stock Exchange Inc. (“NYSE”), the
Financial Industry Regulatory Authority, Inc., the successor-in-interest to the National Association of Securities
Dealers, Inc. (“FINRA”), and institutional investors.
Participants of the Clearing Agencies are required or permitted (depending on their category of participation)
to own Common Shares in amounts proportionate to their use of the services of the Clearing Agencies. The
system of Participant ownership was originally set up to support DTC, and was adopted by DTCC when it was
formed in 1999.
In connection with the integration of NSCC as a subsidiary of DTCC, the common stockholders of NSCC,
Securities Clearing Corporation (a subsidiary of The New York Stock Exchange, the predecessor in interest of
NYSE) and National Clearing Corporation (a subsidiary of NASD, the predecessor in interest of FINRA),
exchanged their common stock of NSCC for the Preferred Shares. As holders of the Preferred Shares, NYSE
and FINRA each have the right to elect one member of the DTCC Board but no other rights.
8. How many Common Shares are currently issued?
uestions and Answers on the DTCC Common Stock Reallocation
1. What is the purpose of the requirement that Participants own shares?
Having all Common Shares in the hands of Participants ensures that such Participants (1) are appropriately
invested in the business of DTCC and (2) through the election of members of the Board of Directors of DTCC
(the “DTCC Board”), are given a voice in the governance and activities of the Clearing Agencies, including the
kinds and quality of services provided and the service fees charged.
2. How does the reallocation work? Will all Participants be required to purchase Common Shares, or
only some Participants? Will any Participants be required to sell Common Shares?
Certain Participants, which are referred to as “Mandatory Purchaser Participants”, are required to purchase and
own Common Shares in amounts proportionate to their respective use of the services of the Clearing Agencies.
Accordingly, any such Participant will be (1) required to purchase Common Shares to the extent, if any, that a
share deficiency exists (i.e., the amount of Common Shares such Participant currently owns is less than the
amount such Participant is required to own) and (2) required to sell Common Shares to the extent, if any, that
a share excess exists (i.e., the amount of Common Shares such Participant currently owns is greater than the
amount such Participant is required to own). Other Participants, which are referred to as “Voluntary Purchaser
Participants”, are permitted but not required to purchase and own Common Shares in amounts proportionate to
their respective use of the services of the Clearing Agencies. Accordingly, any such Participant will be (1)
permitted but not required to purchase Common Shares to the extent, if any, that a share deficiency exists (i.e.,
the amount of Common Shares such Participant currently owns is less than the amount such Participant is
permitted to own) and (2) required to sell Common Shares to the extent, if any, that a share excess exists (i.e.,
the amount of Common Shares such Participant currently owns is greater than the amount such Participant is
permitted to own). Some Participants are not offered Common Shares at all and are therefore not entitled to
purchase any Common Shares.
Under the Shareholders Agreement, the Mandatory Purchaser Participants are those Participants that utilize the
core services of the Clearing Agencies, including the depository and book-entry transfer services of DTC and
the guaranteed services of NSCC and FICC. As a result, the Mandatory Purchaser Participants consist of: (1)
a “Participant” other than a “Limited Participant” of DTC (as defined in the DTC Rules); (2) a “Member” of
NSCC (as defined in the NSCC Rules); (3) a “Member” other than a “Comparison-Only Member” or
“Sponsored Member” of the GS Division (as defined in the GS Division Rules) or (4) a “Member” other than
a “Cash Settling Bank Member” of the MBS Division (as defined in the MBS Division Rules). A Mandatory
Purchaser Participant must also be a Qualified Person as defined in the Shareholders Agreement.
Under the Shareholders Agreement, the Voluntary Purchaser Participants are those Participants other than a
Mandatory Purchaser Participant, as more specifically set forth in the DTC Rules, NSCC Rules, GS Division
Rules and MBS Division Rules. A Voluntary Purchaser Participant must also be a Qualified Person as defined
in the Shareholders Agreement.
3. What will happen to Common Shares that Voluntary Purchaser Participants choose not to purchase?
The Mandatory Purchaser Participants will be obligated to purchase on a pro-rata basis any Common Shares
allocated to, but not purchased by, the Voluntary Purchaser Participants.
Reallocation
Under the terms of the Fifth Amended and Restated Shareholders Agreement (the “Shareholders Agreement”) of
The Depository Trust & Clearing Corporation (“DTCC”), participant/member firms (“Participants”) of DTCC’s
U.S.-registered clearing agency subsidiaries (the “Clearing Agencies”) -- The Depository Trust Company (“DTC”),
National Securities Clearing Corporation (“NSCC”) and Fixed Income Clearing Corporation (“FICC”) -- are
required or permitted (depending on their category of participation) to purchase and own shares of DTCC common
stock (“Common Shares”) in amounts proportionate to their use of the services of the Clearing Agencies.
Participants using the core services of at least one of the Clearing Agencies are required to purchase and own
Common Shares (“Mandatory Purchaser Participants”). Participants using most of the other services of the Clearing
Agencies are permitted but not required to purchase and own Common Shares (“Voluntary Purchaser Participants”).
Participants using only certain ancillary services of the Clearing Agencies are not offered Common Shares.
The Shareholders Agreement provides that DTCC shall periodically reallocate entitlements to purchase and own
Common Shares to reflect changes in use of the services of the Clearing Agencies. Mandatory Purchaser
Participants are required to purchase Common Shares up to the amounts of their entitlements and sell Common
Shares down to the amounts of their entitlements. Voluntary Purchaser Participants are permitted but not required
to purchase Common Shares up to the amounts of their entitlements and required to sell Common Shares down to
the amounts of their entitlements.
This reallocation process is required to be done at least once every three years. Since the last reallocation occurred
in 2021, a reallocation is scheduled for 2024. The 2024 reallocation is currently anticipated to be completed on
April 30, 2024 (the “Settlement Date”), and will be based upon the use of services of the Clearing Agencies from
January 1, 2021 through December 31, 2023. Voluntary Purchaser Participants will be notified through the
DocuSign® electronic signature service of their opportunity to purchase or obligation to sell Common Shares during
the first week of April 2024. Mandatory Purchaser Participants will be notified via email from Computershare Web
Service that a notice concerning their obligation to purchase or sell Common Shares is available on Computershare’s
Investor Center during the third week of April 2024, and these purchases are expected to settle on the Settlement
Date. Please refer to the following pages (Questions and Answers on the DTCC Common Stock Reallocation) for
additional information.
Questions or inquiries regarding this Important Notice should be addressed to your Relationship Manager, or to
Annette Nichols, Corporate Secretary, at (212) 855-1681 or anichols@dtcc.com.
L.G. when you signed a Release Document, you signed away all rights to former assets in WMI for NOW, FUTURE, AND FOR FOREVERMORE!!!!!!!!!..... read the document that newflow posted about the settlements for different class claims, and read exactly what the release signatures stated.... it states if one does not sign the document, they will be excluded from any settlements that will occur when the chapter 11 is settled... if you do not sign, THEN YOU HAVE THE RIGHT TO SUE FOR VALUES HELD IN YOUR FORMER ASSETS OF WMI!!!!!!!!!!!!!..... simply put, because you signed a release does not mean, or guarantee that you are the owner of the former estate, which by the way, does not exist anymore... it was cancelled, and emerged as a new entity called WMIH...., as well as any values you once held in the now DEFUNCT COMPANY CALLED WMI.....this was evident when WMI said all common and preferred shares were cancelled, and extinguished, and all rights to former prospectus are NULL AND VOID,,,,, read the post that newflow put up on the board about releases, and their purpose.... Lodas
This is Big. Please read the timing for our distribution. Please review for the process in April and research the formula they use. We will end up owning DTCC where our value is?
Questions and Answers on the DTCC Common Stock Reallocation 1. What is the purpose of the requirement that Participants own shares? Having all Common Shares in the hands of Participants ensures that such Participants (1) are appropriately invested in the business of DTCC and (2) through the election of members of the Board of Directors of DTCC (the “DTCC Board”), are given a voice in the governance and activities of the Clearing Agencies, including the kinds and quality of services provided and the service fees charged.
10. How much will each Participant have to pay, on average, to hold Common Shares? The Share price for the 2024 reallocation is $59,327.12 per share. This Share Price was determined using the formula set forth in the Shareholders Agreement. The actual amount of Common Shares that each Participant will own is determined by its respective use of the services of the Clearing Agencies, and whether it is a Mandatory Purchaser Participant or a Voluntary Purchaser Participant.
https://www.dtcc.com/-/media/Files/pdf/2024/4/1/MBS1317-24.pdf
Diamond, the bottom line is ALL INVESTORS who signed timely releases by March of the year 2012 will at MINIMUM do EXTREMELY WELL considering, however, as is always the case, some will do MUCH BETTER than others.
...
LG
Yeppers just like the """TENDER OFFER I brought forth several; years back that had some about to go bat chit crazy""
This is hard to say as there are a few ways this could go.
1) They could be bought out lock, stock and barrel
2) They could be issued the 36M share that COOP has repurchased based on an investor's original purchase subject to the Reverse Splits taking the outstanding stock down to around 100M before the COOP repurchase program started
3) There are some more thoughts but I will leave you with the aforementioned
4) Just know that COOP has had shelf ready, authorized, and ready to issue on a minute notice ten million preferred shares which have NOT been subject to (RS) Reverse Splits or other reasons. They will use these at some point. COOP originally planned for these preferred shares or they would not have brought them forward from the (ED) Effective Date of 3/19/2012 and forward of the 12-1 Reverse Split in October of the year 2018 which AGAIN did not affect the Preferred, authorized shelf-ready shares.
...
LG
I agree and so do many others here
Contract law via negotiations is PRETTY RIGID YOU ABIDE by the terms of the contract as written PERIODDDDDDDDDDDDD there aint no DO OVERS
And the DIPs DID NOT NEGOTIATE THEMSELVES INTO A SUBORDINATE POSITION TO COMMONS, that just aint the way things happen and ANY THAT THIHKS that is the way it happens must be out in the desert and also is seeing an OASIS in the distance,, YOU KNOW A """MIRAGE """SOMETHING THAT DOES NOT EXIST
COMMON SENSE AND LOGIC USE THEM THEY WORK
what are you thinkin for U's ????
Yes….never a recommendation….”NEVER a cowboy recommendation to Buy, Sell, or Hold ... NEVER' ... “
Can not post all the messages where you recommended that your followers buy in the single digits as you posted…..your so call recommendation…to follow you….then sell at 46…50…..tell your story again….lol
BBANBOB, you asked and wrote the following to AZC,
___________________________________________
WIth ALL of your NEW FOUND wealth, did you ever bother taking BOPS advice and taking the GSA/POR to a ""LAWYER"" and having them give you an opinion based on the 8k and PR on the payout matrix and how it was as well stated in the GSA?????????????? As to the 75/25% payout on any and all distributions???
OF COURSE, YOU DIDN'T you wouldn't dare
____________________________________________
When there is an agenda to push outside of the norm, there is no way one would pay a specific lawyer with subject matter expertise for an opinion when more than likely the legal opinion would NOT support the agenda being posited.
All one needs to know if they signed timely releases by 3/2012 is they own the former WaMu Estate and whatever may come from that whether Safe Harbor protected or NOT, otherwise since there was an (OC) Ownership Change on the (ED) Effective Date of March 19, 2012 there would be dual ownership of assets and that can NEVER happen in Delaware Bankruptcy Courts
....
FDIC status letter Feb. 22, 2024, for EOY 2023.
pg. 4 , 11 MMF cases , hopefully an update on closures in the near future.
https://www.fdic.gov/resources/resolutions/professional-liability/annual-reports/pl-2023-annual-report.pdf
I see you're letting your ARROGANT ASS hang out yet again
Can't wait to see how this all turns out
Just like any contract, all conditions of said contract follow it forever and always, NOT JUST WHAT YOU WANT.
WIth ALL of your NEW FOUND wealth, did you ever bother taking BOPS advice and taking the GSA/POR to a ""LAWYER"" and having them give you an opinion based on the 8k and PR on the payout matrix and how it was as well stated in the GSA?????????????? As to the 75/25% payout on any and all distributions???
OF COURSE YOU DIDN'T you wouldn't dare
I know for fact if if IFIN YA LIE IN AN 8K and or a PR, you probably would be up chit creek with NO BOAT
AZ past predictions…lol…RD had better predictions than AZ…cactus likes to claim others information as his own….
~ Yeppers, ... associated with the humorous', "registrant" COOP being used, (LOL), and aligning the FDIC/WMI's GSA, the Approved Plan (7), and the JPMC P&AA, ... As Boris (thankfully) updates us, Yes I believe, the Litigation is completing', ... BUT NOT in those hilarious and poorly researched overweighted' numbers' ... (dmdboplggbbub etc) LOL' ~
Nope NOT Hardley ... I bought so much WaMu, (more than willy), and thankfully have now been able to cover ALL WaMu expenses with the COOP profit taken out', ... now, yeppers', it's all good for this ol' cowboy' ... whatever the outcome and completion is ? ... is all now freebies and taxable' ...
ol' cowboy's W-9's submitted with release, per individual ... uq, P, and K, ownership. ... were all submitted properly to brokerage' ... ol' cactus's WMB Notes were Direct Purchased' ...
and yep, as posted by ?, I wouldn't mind seeing with a link' as proof, what I'm accused of predicting either', LOL' ... thought I always used ... In MY Opinion, or My Conclusions Are, etc. etc. etc. ... oh, and Do Your Own DD, ... NEVER a cowboy recommendation to Buy, Sell, or Hold ... NEVER' ...
No Margin, ... ALL ol' cowboy 100% CASH' ...
anyhew ... enjoy the day'
just sayin'
AZ
PickStocks.....you forgot to mention that AZCowboy is in complete agreement with Boris in every detail concerning the expected recovery which is coming on the April 24 eclipse...., and the LIBOR settlements coming soon.....I still cant get Boris to give the link that WMI won a 307 billion dollar Duel Track, well documented RICO lawsuit against the FDIC in judge collyers courtroom....be careful AZ of letting Boris "watch your six"....you may get a kick in the rear........Lodas
Just have a look at AZ‘s past predictions over the last several years - its really not complicated.
Yes…tell us again how smart you are…how you bought coop single digits and sold at 46 and 50…..how you and Gallagher are such good friends…..how you can not reveal XXXX is because of the patriot act…..you can not make this up…..lol
"it looks like a reveal is coming soon of who xxxx is!"
I absolutely wouldn't expect that. I believe there will never be an answer given for that. Love to be wrong, but thats the pattern.
Q1 ended yesterday, SIGNIFICANT MOVE for COOP coming soon IMO!
AZ thx for your steadfastness! I still need to payoff my kids college tuition and it looks like a reveal is coming soon of who xxxx is!
Because if so I'd come away with a mere $25K... not exactly a windfall. Can anyone expand on what "one to one" means?
Thanks in advance!
~ LOL' ... Every Now and Then ?, COOP gets' a ray of sunlight', through the daily cloud' covering, causing the dim lighting' ... LOL ~
"Abba Da Ayy" ... ol' cactus is extremely pleased that the cowboy' choice was to "RELEASE" ... Especially the cowboy' owned WMI Common Share WMI Estate Ownership (wamuq), and the P's continuously associated with the Preferred Managing Sub" ... still SEC trackable LOL ...
ol cactus', DIRECT PURCHASED The WMB Notes' ...
Go COOP' ... wrap it up as COOP' ! !, and do what COOP needs to do' ... by the (XXXX) directives' ...
LOL' ... "One doesn't ever need to be the smartest person on the room, ... One only needs to be smart enough to KNOW who the smart people are" ... LOL'
... "Watch Your Six" ... and ... "Know What YOU Own" ...
just sayin' :) ...
AZ
What funny is you are still referring to XXXX just so you can claim to be the smartest person on the board…..just too funny…
~ Hello JJFlash, watching this "COOP" ? sure is interesting as merely' a 2018 Acquired loan servicing Subsidiary Group ! ! ... SEC reporting with only one operational sub' ... "Hilarious" ~
Yepperini, ... ol' cactus is (LOL) DONE' (more, LOL) ... trying to breath a dash of ACTUALITY and REALITY Into a few that are still hanging onto wording that was specific only to the wmi-lt and the continued misunderstood retained earnings' ... it's all simply become silliness to waist (or, is that waste ? LOL) any time on, in my opinion LOL ... doesn't matter though ... "it is what it is"
Another day in fantasyland. Another day of babbling.
$COOP went from $6 to $77 without any of your fantasy nonsense, and will continue to perform as it's value increases.... without it.
Have a wonderful day babbling about delusional fantasyland nonsense. 😂
Pardon my daftness, but by "one to one", surely you don't mean that for every "P" someone held they will get one COOP share (currently worth $77?? The other "one" that they get for each P must be something else, could you clarify for those of us without finance degrees please.
It will happen imho when COOPS gets it's 2.5%
The UW’s were not fighting to stay in class 19…..the coffee lady was fighting for 1% that they would receive…in the end it was the coffee lady fighting really hard to get paid for filing appeals and be paid 3 million or so and that was turned down..
COOP absolutely UNDERVALUED====>fair PPS is at least $200
Check COOP's current P/E ratio: https://finance.yahoo.com/quote/COOP/key-statistics?p=COOP
COOP's trailing P/E is only: 10.68
COOP's forward P/E is only: 6.23
The P/E ratios in this list (data is as of January 2024)
Financial Svcs. (Non-bank & Insurance) covering 172 companies is the correct row:
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/pedata.html
Diamond, I believe former Preferred WILL BE one to one.
In my view, this is why the UWs spent millions, received a one year delay to cast their timely signed releases then fought Alice for several years to the very end ensuring they STAYED in CLASS 19.
…
I don't know what a "great" outcome is here. Obviously, receiving monetary value is not the number 1 outcome so far. Sixteen years of educational dialogue concerning the cost and value of out overall justice system is obviously one outcome which no one can deny has been somewhat educational.
Further outcomes are yet to be enjoyed however monetary outcome would be great. After all I've paid my dues, now I need to get some recompense.
"LITIGATION TRUST"? https://www.fidelity.com/misc/wamu/WAMU-Class-19-Beneficial-Ballot-93934W-AA-3.pdf
Page 7/13 What is this Litigation Trust?.
LG you feeling a 1 for 1 for escrows. ????
I am a legacy holder of wamu…..I for one do not care about the pity you spread….i for one bought many wamu shares even after the Wamu P’s drop to 10.00 and sold in high 60.00’s….and bought back end with P’s and U’s. Then I sold again after WMIH at 1.50 and doubled my shares at .49. And sold again at 2.50 and bought back in at 1.00…..sold it all at 15.00….then bought back in at 5.00……and held and kept buying as it continues to grow…I for one did not sell when it 50.00 and continue to see coop rising….
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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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