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As I've stated before, BTS, I hope your right and I'm wrong.
My guess is this. Jamie Dimon has multiple JPMC employees, trolls if you will, paid at a rate 375K a year to read and brief him in 20 words or less on what he perceives as nonsense written on MB's. All the while he sips on 1200 dollar bourbon and ROTFLHAO. Of course my stated guess is me being very presumptuous of JD and his two turd concern of what's being stated on MB's regarding his payment of stolen WAMU assets.
I hope your right!
BTS, please think, what was the need to move it by 10 days if there was a whole year for closure ? And why did JD publish his shareholder letter on ‘eclipse day’ right in the middle of those 10 days ?
Picky, I like this post of yours ( cannot believe I just said that ). You only need to be right ‘once’. I feel XXXX needs this more than us.
yet we still have cactus soon…..all stars aligned he could be right for the first time
I agree and disagree with Alice.
No way does the Libor take up to a year. But I do agree that a settlement offer has likely already been made, albeit small and thusly declined.
She is making an educated guess but nobody knows the amount or timing.
I am more in the hold2wm camp. He thinks our Libor deal is only days or weeks away. I think we are very close as well.
My guess is by June. 50-100B
Lettuce pray.
I WAS NOT POINTING AT YOU
But to all that will be left to try and fight this out but HOPEFULLY YOU KNOW THAT
Funny how SO SO SO MANY HERE TWIST STUFF
CERTAINLY YOU DO KNOW I WAS NOT calling you a rat after all these YEARS and if IF IFIN you believe that I fell sorry for ya
COMPASS POINT upgrades PPS to $95, yet the price sinks on good news to $75.49 and then 1 measly share after hours drops the PPS to $74.25. lol
I bought at $75.5899 and will ride those shares until the 24th....I'm betting on $80.00+ after Management reveals their 1st quarter buys of MSR's.
The real question in my mind is, will other analysts follow suit?????? My gut says yes, if not I'm possibly going be sorry for today's bet. SIGH!
After Hours Time (ET) After Hours Price After Hours Share Volume
16:06:31 $74.25 1
16:05:03 $75.49 74
16:02:10 $75.49 108
16:01:53 $75.49 912
That is correct and you know to miss that point is a bad sign for a reasoning being.
Biz is many things but not a rat….if that is what you are implying…..he was just posting what the coffee lady stated..
ONCE THE RATS START JUMPING SHIP, JUST because you're a BIG RAT doesn't mean you TOOOOOOOOOOOOOOOO Shouldn't jump as the ship is going down
NOW not only that, WOULD YOU REALLY WANT TO BE THE BIGGEST ELEPHANT LEFT in the ROOM with REALLY DEEP pockets as the only one left standing
WOULD YOU REALLYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
Information coming from a person who failed numerous appeals and then was barred from ever filing another appeal for this bk does not carry any weight….but hey she is not fighting for that 1%……like I said more excuses and more waiting…one-two-three-maybe 30…..yet we still have cactus soon…..all stars aligned he could be right for the first time….lol
Quote from: CSNY/Alice Griffin BK Attorney - Today at 02:11:05 PM
Someone reached out to me today about timing and I shared my cautious optimism.
I told them I believe LIBOR is critical to the first phase of us getting a distribution, so as the New York phase of LIBOR is within one year of a critical ruling we are 'nearer' than we've been in the past.
I don't know if the parties will settle before a summary judgment ruling (it is expected one year from now). Also, I'm sure people know even a summary judgment ruling against the defendants can be appealed.
In this vein, if the defendants wait until a ruling and it is unfavorable to them they may appeal and not settle until/unless the appellate court upholds the unfavorable ruling.
That's why I'm cautiously optimistic that there will be a settlement within a year.
As for why I'm certain there will be a settlement: there have already been settlements. Those settlements protected defendants and their stakeholders (e.g., FRBNY, BoE, ECB) from public dissemination of embarrassing information that could, among other things, erode public trust.
If there's a trial, that information would come out eventually. The defendants will settle.
As before, timing is the issue. They have probably made an offer but made one they knew the plaintiffs would be unlikely to accept. The longer the defendants wait the greater the sum they have to pay out but they may not care as they've probably made multiples of any LIBOR gains. (I say this is probably one reason why the FDIC asked for so much money , that and the fact that it would take a long time to get a payout.)
This must be clear that this one value to be funded for our Legacy U's P's and whatever is left for K's. Royal
The Indenture does not limit the aggregate principal amount of debt securities that may be issued under it and provides that debt securities may be issued up to the principal amount authorized by us from time to time. We have previously established the Series A medium-term notes under the Indenture. As of December 31, 2023, we had approximately $32 billion aggregate principal amount of Series A medium-term notes outstanding under the Indenture. Our board of managers has authorized the issuance of New Notes under the registration statement to which this prospectus relates in such amounts as may be required to permit all outstanding Old Notes not held by JPMorgan Financial or its affiliates to be exchanged for New Notes. Our board of managers has also authorized the issuance of securities, including Series A medium-term notes, under certain shelf registration statements with an aggregate initial public offering price not to exceed $130 billion, to be issued on or after February 17, 2023.
The Indenture allows us to reopen a previous issue of a series of debt securities and issue additional debt securities of that issue. We may, in our sole discretion and without providing holders notice or obtaining their consent, issue and sell additional securities having the same terms and conditions as the New Notes. We have no obligation to take your interests into account when deciding whether to issue additional debt securities. In addition, we are under no obligation to reopen the New Notes or to issue any additional New Notes.
We will irrevocably deposit with DTC no later than the opening of business on the applicable date or dates funds sufficient to make payments of the amount, if any, payable with respect to the New Notes on any date or dates. We will give DTC irrevocable instructions and authority to pay the applicable amount to the holders of the New Notes entitled thereto.
Subject to applicable law (including, without limitation, U.S. federal laws), we or our affiliates may, at any time and from time to time, purchase outstanding New Notes by tender, in the open market or by private agreement.
The New Notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency and are not obligations of, or guaranteed by, a bank.
PG.49
https://www.sec.gov/Archives/edgar/data/1665650/000095010324005291/dp209785_424b3.htm
that statement was made so that the Litigating Trust would not use up the 20 million dollars to pursue further court action to retrieve assets... remember the Litigating Trust took the employees claims to court for several years and won the case, thus releasing the DEE shares for distribution to new share holders who had valid escrow markers... i addition, WMI tried to bring the FDIC to court for 20 billion dollars , but the court shot it down, for lack of substantial evidence that WMI was damaged... also , JPM threatened to countersue WMI for 27 billion dollars...WMI knew the could not prevail in court, so they abandoned all efforts to pursue litigation cases by the WMIL-T , thus preserving whatever was left of the 20 million allotted to be spent on court cases... in addition, Rosen stated, that the Litigating Trust arm of WMIL-T had ceased to pursue court cases in order to conserve money that was going to pay creditors...possibly a breakthrough in the GSA negotiations was forthcoming, in which WMI was going to get about 12 billions in relief for their 20 billion dollar claim without having to go to court, and possibly lose.... Lodas
It's not the case..
Just more uneducated fantasy nonsense.
Fact is, since the 2008 housing market crash, the loans written have changed in a major way. They stopped writing total shit, and increased the quality tremendously.
You're 100% correct, that would be a horrible way to do business. Thankfully, that's not the reality here.
CONSERVE AND PROTECT ASSETS FOR THE BENEFICIARIES - ANALYZE THIS
In 2010 or 2011 Mr. Folse in the court about $30 Billion or more flowing back to estates down the road.
-------------------------------------------------------------------------------------------------------
And frankly,
4 Your Honor, it would imprudent for the estate to do so relying
5 on the speculative ability to go out and recover up to thirty
6 billion dollars or more in money paid out to someone at
7 somewhere down the road.
In 2012 EC FAQ mentioned about sources of distributions and WMILT
------------------------------------------------------------------
Equity Committee explained potential sources of recovery and what is LT clearly in 2012 by releasing this FAQ and LT agreement also covered about Trustee's limitations on the ASSETS.
https://www.sbroker.de/pdf/Washington-Mutual-Chapter11.pdf
In 2012 LT Agreement was executed with what Trustee can't touch
---------------------------------------------------------------
6.3 Limitations on Liquidating Trustee.
(a) The Liquidating Trustee shall, on behalf of the Liquidating Trust, hold the Liquidating Trust out as a trust in the process of liquidation and not as an investment company. The Liquidating Trustee shall be restricted to the liquidation of the Liquidating Trust Assets on behalf, and for the benefit, of the Liquidating Trust Beneficiaries and the distribution and application of Liquidating Trust Assets for the purposes set forth in, and the conservation and protection of the Liquidating Trust Assets and the administration thereof in accordance with, the provisions of this Trust Agreement, the Plan and the Confirmation Order.
https://www.sec.gov/Archives/edgar/data/933136/000090951812000099/mm03-1212_8ke101.htm
Page 22
IN 2019/2020 FINAL CLOSURE OF CH11
https://www.sec.gov/Archives/edgar/data/1545078/000119312519294873/d834622dex991.htm page 21
Beyond this, the Bankruptcy Court and WMILT have merely waited for the final reconciliation of remaining claims and monetization of assets.
2020 after creditor claims were paid off.
-------------------------------------------
WMILT restated and amended LT agreement was executed in Jan 2020 and Trustee was relieved after class 18 is satisfied.In Jan 2020, WMILT appointed Mr.Smith and Ms.Logan as administrators of WMI Liquidating Trust.WMILT restated and amended LT agreement was made between certain parties who are unknown yet.In DEC 2021 they cancelled WMILT.Meanwhile who knows what they did with the whole Enchilada?.May be one hot ticker with some good dividend pay is my wish.
Our Value for Legacy TBD
"THE EXCHANGE OFFER (AS DEFINED BELOW) WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MAY 8, 2024 (SUCH TIME AND DATE, AS THE SAME MAY BE EXTENDED OR EARLY TERMINATED, THE “EXPIRATION DEADLINE”). HOLDERS OF OLD NOTES (THE “NOTEHOLDERS”) WHO WISH TO PARTICIPATE IN THE EXCHANGE OFFER MUST VALIDLY TENDER (AND NOT VALIDLY WITHDRAW) THEIR OLD NOTES AT OR PRIOR TO THE EXPIRATION DEADLINE. NOTEHOLDERS MAY VALIDLY WITHDRAW TENDERS OF THEIR OLD NOTES AT ANY TIME PRIOR TO THE EXPIRATION DEADLINE, BUT NOT THEREAFTER.
We, JPMorgan Chase Financial Company LLC, are offering to exchange any and all outstanding Alerian MLP Index ETNs due May 24, 2024 (CUSIP: 46625H365) issued by JPMorgan Chase & Co. (the “Old Notes”) for Alerian MLP Index ETNs due January 28, 2044 (CUSIP: 48133Q309) issued by JPMorgan Chase Financial Company LLC (the “New Notes”) (the “Exchange Offer”) based on the Exchange Ratio (as defined below), upon the terms and subject to the conditions set forth in this prospectus. All payments of principal, interest and other amounts payable on the New Notes will be fully and unconditionally guaranteed by JPMorgan Chase & Co. The exchange ratio per $19.03661 principal amount of Old Notes validly tendered in the Exchange Offer (and not validly withdrawn) prior to the Expiration Deadline and accepted for exchange (the “Exchange Ratio”) will be equal to one New Note, which will be delivered on the Settlement Date (as defined herein), unless the Exchange Offer is extended or terminated. The New Notes were first issued on January 30, 2024 pursuant to the registration statement on Form S-3 (Registration Nos. 333-270004 and 333-270004-01) of JPMorgan Chase & Co. and JPMorgan Chase Financial Company LLC. Upon completion of the Exchange Offer, we will issue additional New Notes to the tendering Noteholders and consolidate such additional New Notes to form a single class with the New Notes then outstanding.
The Old Notes are listed on NYSE Arca, Inc. (“NYSE Arca”) under the ticker symbol “AMJ.” The New Notes are listed on NYSE Arca under the ticker symbol “AMJB.”
https://www.sec.gov/Archives/edgar/data/1665650/000095010324005291/dp209785_424b3.htm
COOP could start paying a DIVIDEND after these earnings, or they could increase the CAPACITY of their current STOCK REPURCHASE PROGRAM in my opinion
Distressed loans in what sense? To me a distressed loan would have a high probability of default. Are you suggesting that COOP’s business model is to hope a borrower defaults on their mortgage so that COOP can foreclose on their property as JPM has done. If that is so, in my opinion, it’s a terrible way to do business. I certainly hope that that’s not the case.
I just want to be correct when the game clock actually reaches 00:00
So far you are correct and the apparent manipulation is quite obvious.
JHD
I personally feel we will be locked in at 75 or very close until be see a share issuance or at least that is my WAG
PTs have gone from $10 to $95 over the last five years, and the pps has followed.
Yes sir I totally agree.
JHD
JHD
IMHO COOP WILL BE THEE MARKET for distressed loans to be serviced by and JPM will no longer be
I believe in time we will blow thru those estimates. COOP is the juggernaut of mortgage servicing and as
things turn they will own a big majority of the market.
JHD
Thank you UP! Gonna take a bit more time it seems with the current price and where it has been sitting but they will open this wide open and when they, do we will blow thru some of these share price estimates...Can't Wait!
I'm very happy I picked up a load more in the $9 range when it fell..
JHD
I’m not saying that the share price of COOP won’t rise, however, how much confidence should we have in these predictions? What is the track record of these analysts that are making these predictions? Remember how corrupt the ratings agencies (S&P and Moody’s) were reported to be years ago! That was a contributing factor that led us to where we are today
That $95 PT, sure is puuuurddy!!!
Nice to see one jump from the $80s into the $90s!
Go $COOP!
UPDATED $COOP price targets==>Compass Point:$95, Piper Sandler:$88, DEUTSCHE BANK:$88, UBS:$86, KBW:$86, Barclays:$85, Wedbush:$85
Nice find!
Thanks for sharing.
Mr. Cooper Group Inc. Raised to $95 at Compass Point https://www.streetinsider.com/dr/news.php?id=23063908
I dont have a subscription .
JHD
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: 10.40
COOP's forward P/E is only: 9.03
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
Financial Svcs. (Non-bank & Insurance)
The average P/Es are:
Current: 34.63
Trailing: 25.59
Forward: 25.54
👉👉👉Only 7 BUSINESS DAYS until COOP Q1 earnings on April 24 (pre-market)
See: https://www.businesswire.com/news/home/20240404446961/en/Mr.-Cooper-Group-Inc.-to-Discuss-First-Quarter-2024-Financial-Results-on-April-24-2024
Hi David. I got your note.
Nothing is certain until we see it in our accts.
I think we are closer to escrow payments now than we've ever been.
The first shoe to drop is in Judge Buckwald chambers. Let's hope she sees the grave injustice of our case and the corruption that has wiped us out these 16 yrs. Many of us have since died , gotten sick or divorced, filed for bk, etc. 40,000 Wamu employees lost their jobs and life savings.
So yes, the Fdic sued for 400b.
We shall see what the settlement is because no way will this go on to trial. Let's hope God guides the judge and all involved into a just resolution.
This next week could be big for us. But who knows in this crazy world!
Huh? What is this then?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174231863" rel="nofollow" target="_blank" >https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174231863[/tag]
Granted, this could be only a part of the LIBOR Lawsuit/litigation, BUT given how Teeny, Puny this 'Settlement Amount' is, I am afraid you are in for a big disappointment and So are all WaMu 'Escrow-holders' building up their Hopes on the 'LIBOR Settlement'. We've had the chance to hold MW & Brian Kosturos by the Scruff of their Collars and demand 'Where is our Money', prior to 'ratifying' any of the GSA with our 'Release' Signatures, But we instead 'listened' to their Paid Shills 'urging' us to 'Sign off our Releases' as otherwise, we will 'be LEFT OUT of the Settlement "F&R Promised" monies and with Greed & Hubris, we signed off our "Releases" and gave the Keys to the Henhouse to the Wily and Cunning Wolves and we are now suffering due to our decision...
UWs may know better about this, that's why they tried so hard to get into class 19.
LG, the 1 for 12 r/s for COOP affected all COOP holders, both legacy UQ, legacy PQ , legacy KQ etc
My PQ which were converted to COOP were affected by the COOP reverse split.
Which preferreds are we taking about ?
If you meant the 1 for 12 r/s was less of an impact than the forward split the preferred’s experienced (19.8 for 1) in 2012 as part of the reorg, then I understand the impact was 0 as they would cancel the impact.
Ok, seems good method for any future real offering. This can become real when money is available. Let's think about LIBOR.
All cactus has to say what XXXX is and watch the board’s reaction..in addition… he has be claiming soon since 2015…..does that mean another 20 years…
You are so right Pick...He has been saying soon for many years and nothing. He has never been right about nothing. I personally think he knows nothing but he loves how some of the people put him on a pedestal. His character is definitely flawed. It's really sad. Hey I use to be one of the people that believed whatever he wrote on this board but he has but nothing he has stated has come true. It's a scam.
so why are hedge funds, SNH, Bonderman, Tepper , Savitz, and the UW's been quiet for the past 11 years since the chapter 11 was closed, IF THEY BELIEVED THAT A PAYOFF WAS CERTAIN,AND THEY HAD LEGAL RIGHTS TO WMI'S ASSETS!!!!!!!!!!!!....no financial institution that is legally owed money is going to wait over 11 years without collecting, or at the least a forward contract that the obligation will be honored at some future time...the fact of the matter is that they read the documents when WMI said classes 19, and 22 were impaired...why were they impaired from future recovery?...because they were unsecured debt, and reclassified as common equity, and treated as such...again, no one with a legal right to money will wait 11 years for it, without filing a lawsuit to get it... so far, no such lawsuit has been filed by anyone expecting a recovery, because there is no money to recover... Lodas
I certainly hope that you’re right!
Roger that PICK.. but I think we have a better chance seeing Bigfoot.
AIMHO, STRIKE
All cactus has to say what XXXX is and watch the board’s reaction..in addition… he has be claiming soon since 2015…..does that mean another 20 years…
Bang. Those who give shall reap the benefits. Those with greed will pay a price for that.
If we get the kind of money I think we will there will be plenty to go around. Help our vets, disabled, animal rescues,
elderly. So much need out there.
We can still have nice things and a good home. Yep. There will be plenty to go around. Visualize. Think abundance.
The following posts show AZC suggests his XXXX he is always referring to is JPMC but it does not matter whether that or WMI or similar. The XXXX simply does NOT matter for our point of conversation but rather the alignment of a Grandfather or similar or yet to be announced name via a potential merger with WMI.
What it does prove is AZC is more aligned with some of us than NOT but cannot bring himself to admit this fact.
Re: AZCowboy post# 724521
Thursday, March 14, 2024 11:10:35 AM
Post# of 724530 Go
So you are suggesting 2 separate subservicers. Nationnstar servicing old Wmih mbs and other assets and Coop a subserviver of everything new? Both of which are owned by Wmih, with the parent company of xxxx? That could explain, i think, where our distributions might be released from.
AZCowboy
Re: johnlconfer post# 724516
Thursday, March 14, 2024 10:47:54 AM
Post# of 724530 Go
~ John, (Yes, answering John) ... So, now with COOP as an acquired loan servicing sub grouping (in 2018), the FDIC can and will be able to complete the seized WMB's sale to JPMC. WMI's producing sub's were intertwined with producing Trusts embedded within WMB. (the WMB Bonds, reveal the process) ... ~
early on in the Chpt 11 (Oct 2008), M Goldstein and B Rosen filed to include the WMI' (separate) producing subs into the WMI Holding Company's BK (Filed as Docket # xxxx) ... Judge Walrath "denied" that motion, and specified that those Subs would continue to function, separated from the WMI Holding Company's Chapter 11 filing and eventual reorganization in 2012' ...
... I believe that M Willingham and his financial backer, Venerable, also saw this happening back in 2008' at the same time that ol' cactus did ! ! ... (he' approached Joyce to be able to represent equity') ... now due to the Judges actions, the subs have continued to function throughout' ... pre and post WMI's BK ... now with the acquired sub grouping NationStar as the servicer, reporting as a corporate registrant only' ... NationStar Mortgage LLC being reported by an SEC allowed registrant for the entire corporate structure is hilarious LOL ...
the Preferred Managing Sub, cash in and cash out ... also PROVES this' as its SEC trackable pre and post BK submissions ... as a sub of WMI and then of WMIH ...
the specifically settled GSA was between WMI and the FDIC only', (JPM was allowed to be an intervenor only', but never needed to take any action) ... is the rest of the proof is revealed in Docket # xxxx as well as docket # xxxx ...
just sayin'
AZ
AZCowboy
Re: clintonj post# 724522
Thursday, March 14, 2024 11:21:13 AM
Post# of 724530 Go
~ Keep Up The Good Work, You Make Me Proud of You ! ! ~
the Proof and the original Chapter 11 Docket Filings, have now all come together within an elaborate initiated process' ...
the continuing of the WMB Bonds to function, ... The continuation of the WMI / WMIH Preferred Managing Sub, ... the Separated Capital Trust', etc ... and the need for the Reorganized Washington Mutual Holding Company, to eventually "Acquire" a loan servicing mechanism ... obviously now, NationStar and its Sub group "Acquired" back in 2018' ...
Have A Great Day
just sayin'
AZ
AZCowboy - YOUR VISION THAT CLASS 22 OWNS THE FORMER WaMu ESTATE & 75/25 OWNERSHIP IS LAUGHABLE
1) You also agree by your history of posts that the (OC) Ownership Change did not happen and/or does not matter
2) You further believe the Preferred and Common Prospectuses were not canceled and these carry on forward never being affected by the Delaware BK Court
3) You also believe the 75/25 ownership does not apply to Safe Harbor assets as class 22 owns all of this except for possibly two to four par coming for Preferred
4) So, let’s say I potentially agree with your posit then this means you have to agree to the following as one cannot cherry-pick whether the BK Courts affected the ownership rights of Safe Harbor assets or not
5) We know that in Oct of 2018, there was a Reverse Split applied at a 1-12 ratio to the common shares and the Preferred was NOT AFFECTED by the RS
6) So, using an example of 12,000 shares, then for every 12K shares you would now have 1,000 shares, and for every 12,000 Preferred shares you would still have 12,000 Preferred shares, so an ABSOLUTE TREMENDOUS difference in value for whatever comes back
7) Then of course for the kicker if that was not enough, since the former Prospectuses were not affected then that means Preferred still carries an OPTION TO EXCHANGE INTO COMMON SHARES at a very GENEROUS RATIO and sorry one cannot cherry-pick to make one’s case. Further, if the Prospectuses were not cancelled then Preferred is only entitled to $1,000.00 par Face Value….HmmmHmmm
8) So, again, do I need to explain why the PREFERRED are so much more well, PREFERRED
9) If you cannot comprehend the aforementioned, then maybe you can understand that the Reverse Split ONLY applied to common shares and not PREFERRED letting them maintain even much more, so well, THEIR PREFERRED STATUS HAS A HUGE PRIORITY by a 12-1 margin
…
Unfortunately, what you’re suggesting, is not human nature. Money greed is the name of the game!
during the annals of financial matters... " never in history has so few, expected so much, with so little facts"... to borrow a quote from Sir Winston Churchill......Denial of the facts, as presented to you over 11 years ago, is a beast that consumes and devours the soul....Wake up!!!!!!...there will be no more monetary disbursements from, WMIH, LIBOR, FDIC, or additional payments for WAMU by JPMC....there never was any Safe Harbor assets....Rosen said so, WMI, said so, and WMIH said so...the only Trusts WMIIC had were 7 reinsurance Trusts under control of WMMRC, which were liquidated, and the funds were placed in the WMIL-T for disbursement to Creditors...subsequently, WMIIC was also liquidated ... read the Forensic accounting of WMIH assets in 2013, a year after the chapter 11 closed....WMIH 2013 10-K..........all speculations about off book assets are spurious folly, and day dreaming... read the documents, get a life.... Lodas
87b over 16 yrs is 100b.
So many avenues for payment once Libor settles.
Help those in need....you dont need a diamond rolex.
And dont forget the animals.
Collectively we can affect great change when we have money.
Good karma.
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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
WMI Equity Escrow Calculator
WMIH: Here's how old shares relate in value to the new shares.
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