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Share your DD on why you say we should believe him…..this should be good…..for example did you follow his investment advice from single digits to selling off at 50.00….
OK, share your DD on why he's FOS. I'm curious to learn what you know/have. Maybe it is something I've never considered.
At least he did not mention XXXX….
There is no guarantee and the results could only be in the millions…I guess maybe next April 2025 or 2026..2027….,
LG, Cleveland Fed valued WMB net asset value at $85 Billion or so. That is the minimum.
No problem.You are welcome.
Quote : “yes, move away from the MANY', MOTIVATED ad-hoc groups, and especially' the (36k) FOS', research credit takers') “
Are taking credit for others information….you have to post anything that provides a return….we all know “SOON” is you motto…since 2015……
LG that's a good guess. Hold2 says $208B for our final group which would give us around 100B. I'd rather be conservative and be pleasantly surprised. FDIC has never had a mega settlement of this magnitude. I've hear a recent rumor that settlement negotiations are ongoing. SG, hedgies, and UWs all involved.
We have to wait and see on the 75 25 LIBOR argument, as well as the 2.5% for COOP. BP believes 75 25 to the end for all payouts. I have my doubts on that. But I do know this. We will all do well. If we are going to get paid it will be a combo of divvies, shares, new Ps, cash, etc. Complex payments that will take time. Bop may be right about her theory of the brokers offering loans till final payouts happen..
Yeah I was able to download the file.
Thanks. Not only is this generally valuable but it's also specifically valuable so thank you again.
Thanks L G !!! I appreciate your support here 👍
Bill, I would say a minimum of 15 to 30 billon at 75/25
…
Tax Treatment of Liquidating Trust and Holders of Beneficial Interests
1.
Classification of the Liquidating Trust
The Liquidating Trust is intended to qualify as a “liquidating trust” for U.S. federal income tax purposes. In general, a liquidating trust is not a separate taxable entity, but rather is treated for U.S. federal income tax purposes as a “grantor trust” (i.e., a pass-through type entity). However, merely establishing a trust as a liquidating trust does not ensure that it will be treated as a grantor trust for U.S. federal income tax purposes. The IRS, in Revenue Procedure 94-45, 1994-2 C.B. 684, set forth the general criteria for obtaining an IRS ruling as to the grantor trust status of a liquidating trust under a chapter 11 plan. The Liquidating Trust has been structured with the intention of complying with such general criteria. Pursuant to the Seventh Amended Plan, and in conformity with Revenue Procedure 94-45, all parties (including, without limitation, the Debtors, the Liquidating Trustee, and the Liquidating Trust Beneficiaries) are required to treat, for U.S. federal income tax purposes, the Liquidating Trust as a grantor trust of which the Liquidating Trust Beneficiaries are the owners and grantors (this treatment differs from the treatment of the Claims Reserves, discussed below). The following discussion assumes that the Liquidating Trust will be so respected for U.S. federal income tax purposes. However, no ruling has been requested from the IRS and no opinion of counsel has been requested concerning the tax status of the Liquidating Trust as a grantor trust. Accordingly, there can be no assurance that the IRS would not take a contrary position. If the IRS were to challenge successfully the classification of the Liquidating Trust, the U.S. federal income tax consequences to the Liquidating Trust, the Liquidating Trust Beneficiaries and the Debtors could vary from those discussed herein (including the potential for an entity-level tax on income of the Liquidating Trust).
2.
General Tax Reporting by the Liquidating Trust and its Beneficiaries
For all U.S. federal income tax purposes, all parties (including, without limitation, the Debtors, the Liquidating Trustee, and the Liquidating Trust Beneficiaries) must treat the transfer of the Liquidating Trust Assets to the Liquidating Trust in accordance with the terms of the Seventh Amended Plan. Pursuant to the Seventh Amended Plan, the Liquidating Trust Assets (other than any assets allocated to the Liquidating Trust Claims Reserve, discussed below, and the Debtors’ economic interest in the litigation proceeds retained by Reorganized WMI as a result of the election by certain Claimants to receive Reorganized Common Stock) are treated, for U.S. federal income tax purposes, as having been transferred, subject to any obligations relating to those assets, directly to the holders of the respective Claims or Equity Interests in satisfaction of their Claims or cancellation of their Equity Interests (with each holder receiving an undivided interest in such assets in accord with their economic interests in such assets), followed by the transfer by the holders to the Liquidating Trust of such assets in exchange for Liquidating Trust Interests. Accordingly, all parties must treat the Liquidating Trust as a grantor trust of which the holders of the Liquidating Trust Interests are the owners and grantors, and treat the Liquidating Trust Beneficiaries as the direct owners of an undivided interest in the Liquidating Trust Assets (other than any assets allocated to the Liquidating Trust Claims Reserve), consistent with their economic interests therein, for all U.S. federal income tax purposes.
Pursuant to the Seventh Amended Plan, on or before the Effective Date, the Debtors shall provide the Liquidating Trustee with a good-faith valuation of the Tax Refunds as of the Effective Date, or shall otherwise arrange for a valuation of such assets to be provided to the Liquidating Trustee as soon as practicable after the Effective Date by such third party professionals as the Debtors deem appropriate. Other than with respect to the Tax Refunds, the Liquidating Trustee, in consultation with the Liquidating Trust Advisory Board, will in good faith value the Liquidating Trust Assets. The Liquidating Trustee shall make the respective values available from time to time, to the extent relevant, and such values shall be used consistently by all parties to the Liquidating Trust (including, without limitation, the Debtors, the
Page 238 DS same IRC
https://www.sec.gov/Archives/edgar/data/933136/000090951812000087/jg02-2712_8ke22.htm
He was just quoting AZ, including the ‘duh’
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174357470
"the WMB Notes, look quite healthy this morning "
Raju, Where do you see this information?
Thank you.
Very good information. Thank you.
the WMB Notes, look quite healthy this morning and are, and have been, being serviced by a sub of ... guess who ? ... duh'
WMIH
I’m curious as to what some positive posters here think that escrow holders might expect from Libor settlement and if it is a 75/25 share for P. and Q. Thanks!!
MW might get $1 MM quarterly divi.LOL
No problem.You are welcome.
I also tried and got 404. Try this
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdf
If you again get 404, google WMI Liquidating Trust you can get the link from there.
Nice! Thanks for sharing your hard work!!
I'm getting a 404
AWSOME - Q TO AI "Pursuant to the plan,the liquidating trust assets are treated, for U.S. Federal income tax purposes, as having been transferred directly to the holders of claims or equity interests in satisfaction of their claims or cancellation of their equity interests" What does this mean?.Did equity holders issued liquidating trust interests?
Answer
The quoted statement means that for U.S. federal income tax purposes, the transfer of assets to the liquidating trust is treated as a two-step transaction:
The debtor corporation or partnership is deemed to transfer the assets directly to the creditors/claimholders and equity holders in satisfaction of their claims or cancellation of their equity interests.
The creditors/claimholders and equity holders are then deemed to transfer those assets to the liquidating trust.
This deemed two-step transaction is allowed by Revenue Procedure 94-45, which provides a method for the IRS to determine if a trust qualifies as a liquidating trust.
If the IRS makes this determination in a letter ruling, the creditors/claimholders and equity holders are treated as the grantors of the liquidating trust for tax purposes, rather than the original debtor entity.
So in essence, yes, the equity holders are issued interests in the liquidating trust in exchange for the cancellation of their equity in the debtor entity.
This allows the transfer of assets to the trust to be a non-taxable event, with future income/gains from the trust assets flowing through to the creditors/claimholders and equity holders as beneficiaries.
All former released equity holders can reach out to shareholders@mrcooper.com for clarification on issuing Liquidating Trust Interests to former shareholders.I sent an email but did not get a response yet.Its an official IRS form filed by COOP.
As per this official IRS filing former equity was issued liquidating trust interests in satisfaction of cancellation of equity. Who wants to debate?. Page 4.
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/Mr.-Cooper-Group-WMI-Liquidating-Trust-Disputed-Equity-Escrow-distributions.pdfdebate?.
The process of kicking the can down the road begins along with “Soon” by cactus were just plain misinformation……the only thing that has been true is Coop……pps still rising…
The FDIC was harmed by LIBOR, not WAMU.... why?... the FDIC was over insuring the Liabilities of WAMU banks by "inflated" balance sheet liabilities caused by the bogus interest rates...the FDIC was not receiving the proper fees that they charge banks to insure these liabilities in case of failure of the banks...so, if WAMU, or WMI was harmed by LIBOR, why didn't they initiate the lawsuit to begin with?... why did the FDIC sue on behalf of the banks?... its because the FDIC does not do banking, or borrow money to make loans, but was "harmed" because they were "over insuring" the cost of the Liabilities for the loans that the banks made...if the FDIC receives a settlement from LIBOR, they will keep the money...why would they share it with the banks who probably were complicit in setting these interest rates to begin with.?..Lodas
Thanks for sharing
Libor in May per bp.
I agree we are very close now. Lets hope this judge isnt in Dimons back pocket like Walrath was.
If we dont see settlement this month we may have to wait till Oct discovery closure.
It's hard to come up with a name, when attempting to spin a truth that doesn't exist. Giving the name, in itself, opens the nonsense up to be destroyed with truth.
The many spins over the years, have left very few that even sound doable.
Even the Arizona clown car LLC has been forced to abandon it's years of nonsense, and go on repeat, stealing you and Bobs share distribution fantasy...claiming as it's own... Which is very clear, you and Bob lay claim to that.
Steal fantasy, claim as own, and enter the world of repeat babbling.
The clown car once needed to be taught how to use decimal points. Which is pretty important if even the most basic of math is to be done. 😂
Credit for the share distribution fantasy, is of course very clearly yours, and Bobs.
Cheers!
~ AZ's NOT Asking Any "COOP" Questions ~
... Watch COOP', ... COOP Will FIRST Set The Stage', Allowing for the FDIC to complete the Original P&AA ... (10-K = "Predecessor Operational Protocol")
COOP' the symbol now used, for the 2018 acquired subsidiary grouping, being SEC allowed to be used as a "registrant" ... will reconstitute the 36m shares, COOP has acquired during the "Share Buyback Program" ... and, will return to 100m shares outstanding ... AHEAD' ... of the FDIC's movement to complete the original GSA ...
... IF ?' ... you released as directed, to Participate in the Courts Approved WMI Plan of Reorganization (7), ... You Will Be Okay' ...
the WMB Notes, look quite healthy this morning and are, and have been, being serviced by a sub of ... guess who ? ... duh'
(yes, move away from the MANY', MOTIVATED ad-hoc groups, and especially' the (36k) FOS', research credit takers')
"Abba Da Ayy"
AZ
Ron, you said the following.
________________________________
Yes the Reorganized Parent is fully intact.
_________________________________
What name are you calling the Reorganized Parent?
Ron, obviously you do not know the name as that was the question.
...
https://www.govinfo.gov/content/pkg/USCOURTS-dcd-1_09-cv-00533/pdf/USCOURTS-dcd-1_09-cv-00533-0.pdf
WMI sued the FDIC for illegal taking of its assets which they claimed the properties that were given to JPM as part of the receivership was illegal.... JPM argued that it was an intervenor, meaning that the properties belonged to them as a result of the PAA agreement between them and the FDIC, and IN NO WAY WAS IT AN ATTEMPT TO STEAL WMI ASSETS, OR WAMU"S ASSETS....simply put another way, JPM did not attempt to steal WMI, and WAMU assets before the bankruptcy, but was given to them after the receivership was done , and that JPM paid for them legally, and should be an intervenor in the lawsuit between WMI/Wamu vs. FDIC case # 0900533 in D.C.....the settlement of this case awarded WMI about 250 million dollars, not the 307.9 billion that ron has continually asserted... also, Home Savings and Loan, HS Ahmandson, Great Western, and some other savings and loans were given to JPM as part of the PAA...the Banks names were changed from savings and loans to "Banks" under the aegis of JPM....no where in any filings does it say anything about 363 and 365 Sales of property before the chapter 11 closed... any discussions about 363 sales did not reach the level of adjudication by the court, and does not appear in the Amended POR 7 document....Lodas
LG, You Don’t Know?
Pre Project Eclipse.
Ron, you said the following.
________________________________
Yes the Reorganized Parent is fully intact.
_________________________________
What name are you calling the Reorganized Parent?
...
LG, Very Poorly Worded Question.
Yes the Reorganized Parent is fully intact.
• 363&365 Sales.
• Retained Earnings.
• WMB and it’s Assets claim against the FDIC.
• Other assets I have listed.
Only the Retained Earnings are split 75/25% as I have already proven.
Class 19’s claims satisfied in full with a bonus by the Equity Community of Class 22.
Ron
Ron, so it seems you believe WMI is still alive?
...
JPM is Bared from Buying Reorganized WMI.
COOP isn’t reorganized WMI.
Purposely separated to keep the legacy WMI holders apart from the NationStar merger stockholders. Not their assets.
NationStar merged with a newly created subsidiary of Reorganized WMI.
Project Eclipse was only part of the story.
Ron
363 and 365 Sales.
The 363 Sales worth around $25 Billion according to the Equity Community Presentation of which $20.78 Billion are reported in the February MOR.
365 Sales are regarding Leases.
WM Citation is more than Airplanes.
See both Plans 6&7 regarding HS Home Loan and WM Citation.
FN; ~”JPM will pay for notes of WMB to WMI”
Therefore JPM is currently paying for the leased property by WMB to WMI.
Payment of subs leased property to the parent Holding Company that owns the property.
Best understanding;
Currently HS Home Loan and WM Citation have been merged into WM 1031 Exchange.
Ron
Thanks newflow ! Gltu
It does not matter….What JPM took….didn’t you hear we have billions coming back from Libor and Cactus has stated with his napkin math….billions coming back “Soon”…
Mildly surprised it closed above 80. But I'll take it.
Here’s to that. As long as we’re dreaming, I do like the idea of a forward split one day.
JHD
Real estate cannot be bought or sold until proper ownership is established... this is done by a Title Search of the property by brokers or escrow offices before the property is sold and transferred to the NEW OWNER..... so, JPM could never have sold the WAMU building unless they possessed Title to the property and building.... this is Real estate basics 101 which you apparently do not understand, but just sound off at the opening in the mouth...Lodas
OK, I'am fine with the baby steps, better $90 than $70 But then $120, $180, $250+...
Yes. Not to get ahead of ourselves. The market and fundamentals will take care of everything, either way.
JHD
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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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