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J & J
I've never been more with it.
Please re-read my post and the attached narrative from Lodas post yesterday (04/22).
suzu
Why do you, like other say my uq legacy escrows were
cancelled when I look at them every day in my Schaub
acco under "History." ?
Come on man, get with it.
Are the Docket numbers super secret as well that they also need to be referred to as (XXXX)?
this is on the Docket, ... (Docket # XXXX), and then adhered to with the Follow Up Filing of (Docket # XXXX) ... done & done ! ! ! ... easy peeezy stuff, for many that read the process'
And F&F and LEH imho will be joining in as well to make it a REALLLLLLLLLLLLLY BIGGGGGGGGGGG DEAL
Wouldn't that be something to see $80 today!
JHD
~ Sure ! !, Easy Peezy Stuff, ... You Answer Your Own Questions, Start with a separation of the WMI Holding Company, and then separate EVERYTHING ELSE that was NOT ALLOWED, by the Court for Consideration ... ONLY The Holding Company ! ! which is the' (your) reference to ... "Title to all assets belong to the reorganized Debtor, JPM, and the FDIC?." ... that is the result of the GSA ~
the Reorganized "Debtor" Is ONLY The WMI Holding Company ... now,
I'll simply refer to your own "Release" submitted with an attached W-9 ... hmmmmm ? ... the Release in order to participate in the Reorganization, Released people', human beings, employees, from any possible litigation ... All Of Them, All of the People ... Only The FDIC-C and the FDIC-R as "Corporate Structures" Were NOT released. ... Because the following settlement to the GSA was achieved.
conclusions based on incomplete, sloppy, and poorly researched material, ... or, a NOW fully completed Liquidation Trust ? (LOL) ... simply doesn't matter
... IF', ... one did ? in actuality Truly Release ? (195k ?) ... simply review what was submitted' ... I question that (195k), but, I-really-D-C
this is on the Docket, ... (Docket # XXXX), and then adhered to with the Follow Up Filing of (Docket # XXXX) ... done & done ! ! ! ... easy peeezy stuff, for many that read the process'
========
In its capacity as a creditor, WMI claimed, among other things, that;
(I) the FDIC dissipated WMB’s assets by selling substantially all the assets of WMB to JPMC rather than liquidating WMB’s assets, and thus the FDIC breached its statutory duty to maximize the net present value of such assets, and therefore owes damages to WMI;
(ii) the FDIC’s wasting of WMB’s assets constitutes a taking of property without just compensation in violation of the Fifth Amendment to the United States Constitution;
(iii) the FDIC’s refusal to compensate WMI for property taken in the receivership constitutes a conversion of WMI’s property, actionable under federal law;
(iv) the FDIC’s refusal to compensate WMI for property taken in the Receivership constitutes a conversion of WMI’s property.
========
schools out' ... ol' cactus is not asking any questions LOL' ... ol' cactus is dancin' ... LOL
just sayin'
AZ
👉👉👉LATEST $COOP price targets==>Compass Point:$95, Piper Sandler:$88, DEUTSCHE BANK:$88, UBS:$86, KBW:$86, Barclays:$85, Wedbush:$85
Hopefully AZ will step up and answer this key question.
I enjoy reading posts by both Lodas and AZ, and would like to see more back and forth discussions, from both sides.
Mr. Cooper Group Announces Two New Senior Leaders
Company Release - 4/23/2024 9:00 AM ET
DALLAS--(BUSINESS WIRE)-- Mr. Cooper Group Inc. (NASDAQ: COOP) announced today the appointment of two new senior leaders. Ranjit Bhattacharjee will join the executive leadership team on May 6, 2024, as Executive Vice President and Chief Investment Officer, overseeing capital markets and correspondent lending for the company and reporting to Chairman and CEO Jay Bray. Kevin Barker assumed the role of Senior Vice President, Corporate Finance on April 22, 2024, leading the company’s business finance teams and reporting to Chief Financial Officer Kurt Johnson.
“Ranjit’s deep knowledge of capital markets and correspondent lending and Kevin’s extensive understanding of the mortgage industry will undoubtedly bring new ideas and insights to Mr. Cooper,” said Jay Bray, Chairman and CEO of Mr. Cooper Group. “We are excited to welcome these two new leaders to our team as we continue to grow and scale our business.”
Bhattacharjee brings a breadth of mortgage industry and capital markets expertise to his new role at Mr. Cooper. With over 20 years of experience, he was most recently the EVP and Head of Capital Markets and Correspondent Lending at Wells Fargo Home Lending, where his responsibilities included secondary marketing, strategic quality management, product management, revenue and pricing and correspondent lending. Prior to Wells Fargo, Bhattacharjee held senior leadership positions at Citi Mortgage and Caliber Home Loans.
“I have long admired Mr. Cooper’s success in the mortgage industry and the company’s impressive growth over the years,” said Bhattacharjee. “I am thrilled to be joining the executive team in May.”
Barker joins the company with nearly 20 years of financial analyst experience covering mortgage and consumer finance. He most recently served as managing director and senior equity research analyst at Piper Sandler covering the mortgage and consumer finance sectors, where he led a team focused on mortgage originators and servicers, card and auto lenders, mREITs and payments companies.
“I am truly excited about the opportunities that lie ahead for Mr. Cooper and deeply honored to join such a successful and well-respected team that I have had the privilege to follow for more than 10 years,” said Barker.
About Mr. Cooper Group
Mr. Cooper Group Inc. (NASDAQ: COOP) provides customer-centric 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 the largest home loan servicer in the country focused on delivering a variety of servicing and lending products, services and technologies. For more information, visit www.mrcoopergroup.com.
Media Inquiries:
Christen Reyenga, VP Corporate Communications
MediaRelations@mrcooper.com
Investor Inquiries:
Kenneth Posner, SVP Strategic Planning and Investor Relations
Shareholders@mrcooper.com
Source: Mr. Cooper Group Inc.
GOGOOOOOOCOOP GLTA-Ts
I hope still enough Wamu Pros alive to party hard after a 14 years long treatment of Chinese Watertorture.
But I am not sure if they will let me pass the border :)
No, nothing "freaky".
The only thing "freaky" is how simple, documented events, have been twisted into failed fantasy nonsense for 15 years.
Of course they always fail, and unfortunately continue to this day.
Earnings will in fact come and go once again, without any mention of any fantasy nonsense.
On a bright note! Another new 52WH, and two new heavy hitters have been brought on by $COOP.
Now, back to your regular daily scheduled program of gibberish, babbling, and fantasy nonsense.
Go $COOP!
Cheers!
@AZCowboy......in your opinion, what does this mean as stated by WMI?..... "Title to all assets belong to the reorganized Debtor, JPM, and the FDIC?.....I posted the link to this official statement many times from the 2013 WMIH 10-K......could it mean that when equity holders signed releases for the chapter 11 reorganization, that the beneficial ownership in any previous values in assets, trusts, whatever ,was negated when common and preferred shares were cancelled and extinguished, and 'ALL RIGHTS THEREUNDER PREVIOUS PROSPECTUS ARE NULL AND VOID????????.... said another way..... when you signed a release , you signed away your rights to any previous values in the old company, in exchange for shares (values) in the New company?.... your thoughts, without question marks, hyphens, dots......Lodas
hit 79.82 earlier
~ Well Done John ! ! ... then, COOP', the Acquired Loan Servicer, (NationStar LLC, and a "registrant") was simply a necessary mechanism ~
NationStar was Acquired in 2018' merely' renamed, as "Globic" was being completed in DC (with WMB Note Cusips Listed ! ! ) ... and then, in March 2019, the last attempt(s) to disrupt the Judges Plan; ... were filed'
and as we've discussed, ... "the big boy WMCT2001( CMBS)" ... was NOT involved in the WMI Holding Company's, Filing for Chapter 11, or WMI's Reorganization ...
Just my own opinion for MANY Years, ... "the big boy" ... was the posit' ... 10 billion dollars, with 2.5 billion originally used as a debt offering ! ! (freed up when the Run-Off Notes were paid off early, by the Preferred Managing Sub) ... and ... available, now after a WMI Reorganization, as long as the Newco' maintains a minimum of $50.00 pps ...
During The COOP Share buy back program, ... the pps has been volatile, however, once COOP resets, by reconstituting 36million shares (ish), and back to its original 100 million shares, ... and ... holds at a minimum of $50.00, the debt allowances will be released and available' after a short period of stability' ... My Opinions' ...
... "the big boy WMCT2001( CMBS) are beneficially owned by WM commons" ... Correct ! ! ... the Original Plan 7' Released Commons ...
... The Preferred Managing Sub, ... Also Not Considered during the BK, ... and ... Active and Researchable (Cash in / Cash out) For Many Years Beyond The 2012 Reorg. ... it's contents belong to a Releasing P' Fixed Income Bond ...
just sayin'
AZ
Whatever it is. We’re here for it! That’s what matters. Albeit, Coop and or Trust Beneficiaries.
Exciting Times to say the least.
MADB
"" what are they getting ready for and what are they piecing together?""
A HUGE MEGA MULTINATIONAL FINANCIAL CONGLOMERATE
One imho that will DWARF the WAMU of old, as well as many others
And FEW other things as wellllllllllllllllllllllllllllllllllllllllllllllll
IT SAYS
However, bankruptcy proceedings can be LENGTHLY
IMO, something will be announced, could be saying that they expect something in between tomorrow and the SH Meeting.
@b3.....WMI stated that common equity, and preferred stock were CANCELLED, EXTINGUISHED, AND ALL RIGHTS TO THE PROSPECTUS IS NULL AND VOID.......it also states that "Title to all assets belong to WMIH, JPM, and the FDIC.........question: if WMI gets signed releases which allows them to cancel the stock, and the prior values inherent in the previous ownership as beneficiaries, does that NOT ALSO CANCEL THE BENEFICIARY OWNERSHIP OF COMMON AND PREFERRED HOLDERS OF THOSE ASSETS?????.....said another way:.... by signing a release, one signs his beneficiary rights to previous ownership of assets that were rightfully his....IMO, this is why WMI states that "all title to (previous) assets belong to WMI, JPM, and the FDIC....as you stated, chapter11 is a very complex legal procedure , and requires RELEASE SIGNATURES by the shareholders that own the company, and creditors who possess claims against any earnings...having said that, the FDIC is now holding a 14 billion dollar loss on the balance sheet which has first priority to any remaining assets generated by these Trusts...however, the FDIC has said, that they do not foresee any relief for common and preferred equity...WMI has said the same when they declared the equity classes 19, and 22 as being "impaired" from future recovery...... thank you for your post.... Lodas
Bk Chapter 11 has been closed for some time now…..since 2019….
Getting closer to break 80.00…it will break before the of 48 hours
I believe this to be very positive news. Not to mention, the timing a day before the conference call and a month before the shareholders meeting. Makes me wonder, what else is to come, what are they getting ready for and what are they piecing together? I’ll use one of your famous lines, HMMMMMMMMMMMMMMM!
Timing of Payments:
The timing of payments to trust beneficiaries depends on the bankruptcy process.
It’s possible that some distributions may occur before the Chapter 11 bankruptcy is finalized, especially if there are available funds.
However, bankruptcy proceedings can be lengthy, and beneficiaries may need to be PATIENT.
Doesn’t mean squat to escrow holders of P. And Q. Show the money already!!
Coming soon more free shares to executives…
2 New Executives!,
Good morning Board, The Infamous Kevin Barker from Piper Sandler always first in line to ask questions during Company conference calls and Ranjit from Wells Fargo! https://ih.advfn.com/p.php?pid=nmona&article=93699409
Two Major Shareholders and one of them holds Trust accounts of the Estate. Wow! This is Huge!
Future Value (FV) of the Continuously Compounded @ 5% ~$652,174,860.47
Total Interest $274,174,860.47
Total Contributions - 18M per qtr. x 20 qtrs.
$360,000,000.00
minus what the trustee(s) is being compensated. My Napkin...
In December 2017, the DC Circuit Court ruled that the FDIC (Federal Deposit Insurance Corporation) cannot seize beneficiary ownership of trusts. The case was won by Deutsche Bank Trust Company. As a result, the FDIC was compelled to return $600 million of JPMorgan Chase’s down payment for Washington Mutual Bank (WMB). The income generated from all the Mortgage-Backed Securities (MBS) trusts, which amounted to an impressive $8 billion in profit in 2007, rightfully belonged to the beneficiaries of those trusts. This legal decision clarified the rights and protections of trust beneficiaries in the context of FDIC-insured banks
Indeed, the old shareholders of Washington Mutual (WAMU) stock are indeed considered the beneficiaries of those trusts. However, it’s essential to understand the nuances of the situation:
Trust Beneficiaries:
The income generated from the Mortgage-Backed Securities (MBS) trusts rightfully belongs to the beneficiaries of those trusts.
In this context, the old shareholders of WAMU stock are indeed beneficiaries because they indirectly hold an interest in the MBS trusts through their ownership of WAMU stock.
Chapter 11 Bankruptcy:
Chapter 11 bankruptcy is a reorganization process that allows a company to continue operating while restructuring its debts.
During Chapter 11 bankruptcy proceedings, the company (in this case, WAMU) aims to reorganize its financial affairs and emerge as a viable entity.
The bankruptcy court oversees the process, and creditors (including trust beneficiaries) have a say in the reorganization plan.
Distribution of Assets:
The distribution of assets during bankruptcy depends on the specific circumstances and the court’s decisions.
Generally, secured creditors (such as bondholders) receive priority in asset distribution.
Unsecured creditors (including trust beneficiaries) may receive payments based on the available assets after secured creditors are satisfied.
Shareholders (including old shareholders of WAMU stock) are typically last in line for distributions.
Timing of Payments:
The timing of payments to trust beneficiaries depends on the bankruptcy process.
It’s possible that some distributions may occur before the Chapter 11 bankruptcy is finalized, especially if there are available funds.
However, bankruptcy proceedings can be lengthy, and beneficiaries may need to be patient.
Legal Complexity:
Bankruptcy cases involve complex legal proceedings, negotiations, and court decisions.
The specifics of how trust beneficiaries will be compensated depend on the court’s rulings, the company’s financial situation, and the reorganization plan.
In summary, while trust beneficiaries (including old WAMU shareholders) have a rightful claim to income from the MBS trusts, the bankruptcy process introduces legal complexities. It’s advisable to consult legal experts or monitor official bankruptcy updates for accurate information regarding distributions and payments during the Chapter 11 proceedings .
👉👉👉COOP Q1'24 earnings TOMORROW, 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
Yes December 2017 the DC circuit court as reported by Globic ruled that the FDIC cannot seize beneficiary ownership of trusts. The suit was won by Deusche Bank Trust Company. This forced the FDIC to give back $600m of JPMs down payment of WMB because the income from all the MBS trusts($8 billion of profit in 2007) belonged to the beneficiaries of the trusts. Lodas go back research all the posts on this board late 2017 and 2018. It’s all there, including the trust beneficiary clause in all the MBS trusts! There is a group of trusts that have the P preferred owners as Beneficiaries but the vast majority including the big boy WMCT2001( CMBS) are beneficially owned by WM commons. Your are a very wealthy man Lodas and I look forward to your party in Malibu!
Semper Fi
The story that you posted is from 2018.
The story that Ron reposted is from 2020. The name game there's a freaky thing here.
I believe that was the one we got a few cents.
Or those shares in COOP based on amount of common and preferred held?
JHD
@johniconfer.........WADR, what, or how were you instilled with the idea that "we are beneficiaries of the Trusts"?......do you possess documents that profess your assertion, or did others instill you with this idea from their opinions?.....the WMIH 2013 10-K, an official document submitted to the SEC, by independent auditors doing a forensic Fresh Start accounting of the residual assets of WMI post chapter 11 closing states the following..... " Title to all assets belong to the reorganized Debtor (WMIH), JPM, and the FDIC"....did you read this document?, and if you did, are you in conformance with what WMIH says, and if you disagree, by what reasons do you disagree?....as you are aware, WMI filed a chapter 11 restructuring to pay creditors and exit from chapter 11 to restructure the company... in what way does the assets of the former company flow to former shareholders when the company merely restructures itself, and continues without dissolution.? have you seen this so called SEC allowed Preferred managing
Sub that AZ Cowboy says exists, and whose name is on the beneficiary, or are you just assuming this because AZ Cowboy told you.... your response will be greatly appreciated... Lodas
Do You Feel Like Dancing?
I do.
Globic is finally settled.
Ron
When would that first distribution have been, somewhere around April, 2012?
1st distrubtion being the wmih shares (?), yes I did. It’s been soooo long ago,, lol.
WMIH Corp, is Mr Cooper Group. They changed their name... The deflecting of this fact, to create a buzz about delusional fantasyland nonsense, is incredibly strange. It seems the need to deviate from reality, to create fantasy, that in turn, creates another fantasy, that points to fantasy riches, will never end...
WMIH CORP. COMPLETES REVERSE STOCK SPLIT AND NAME CHANGE TO MR. COOPER GROUP INC.
https://www.mrcoopergroup.com/press-releases/wmih-corp-completes-reverse-stock-split-and-name-change-to-mr-cooper-group-inc/
Did you get the first distribution? If so, then you are on the list for the next distribution to happen any time now. I wish I knew the exact day of the next payout but nobody does.
Will it be COOP shares, or Libor cash. Both are looming.
I feel sorry for many of those who did not release because some did it thinking they could just sue. But it won't work out for them that way. Release = escrows.
Remember to discreetly and prudently help those in need....but trust no one. Keep your windfall to yourself or you'll have people tripping over your sidewalk constantly.
Ok understood. Reasonable and logical. :) thanksyou!
"One ISIN Number owned by WMIH CORP, is the MR COOPER (COOP) common shares. MR Cooper is truly not the parent. It is WMIH CORP."
HMMMMMMMMMMMMMM, YOU DONT SAY!
"boarddork
Re: Juschilln post# 633778
Monday, September 21, 2020 6:22:17 PM
Post# of 726632
thanks! you're not gonna believe what I'm finding so far researching WMIH Corp's ACTIVE 40 (forty) ISIN numbers, listed on their holding company LEI identification number. That is 40 separate securitiy identifiers. Specifically, ISIN number represents
I'll post when finished with all of them, but I'm finding a large portion of these ISIN number were "Exchanged for Bonds" and then it lists the bond it became (ie WMIH 8.2508/15/06 LIQd (Liquidated)).
Many fo these ISIN security numbers registered to WMIH CORP the holding company of Mr Cooper Group, that were also "Exchanged for Bonds" of various names..so far....are all stating MATd (Matured).
A significant amount of the ISIN numbers for WMIH CORP have "No Info". Since only MATd (Matured) and LIQd (Liquidated) seem to be recorded...might it be possible that these "no info" ISIN numbers still reflect the original securities functioning in safe harbor...ie winding down? I think so. Otherwise, the would show liquidated or matured. There is no other explanation for an "ACTIVE" ISIN security tracking number owned by WMIH CORP, the holding company, merely name changed to Mr Cooper Group.
I'm halfway through the list. I post if anything changes.
But holy moly, WMIH CORP is alive and well, is the holding company for MR COOPER, and.....and... still holding its legacy securities..or for the time being....still holding title ,by ISIN Numbers, to their ORIGINAL WMI safe harbored interests.
Get this..... One ISIN Number owned by WMIH CORP, is the MR COOPER (COOP) common shares. MR Cooper is truly not the parent. It is WMIH CORP.
Smoking Gun, for real!"
Yes no mention WMIH. But we are beneficiaries of a lot of trusts in those trust companies! I believe this is how we will get paid from those trusts. Interesting also I think getting a security exempts us of any tax liability.
Semper Fi
I think you have to read it backwards
"Watch The Newco WMIH / COOP It Is The "Tell" ~
the first time in 2018'?, and now, for the ol' cactus 2024's 2nd time,
for all those that Properly Released as Directed ?
There are a few key phrases in there: fraudulent convaence, Deutsche bank, bank of new York mellon,, and a similar interest rate. I don't know if it's directed at us or not, because nowhere is wmi/wmih mentioned.
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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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