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Could there be a filing soon where FDIC asking for extension just like WMILT? Is that possible? I think it is..
CBA09, thanks to you also for the information. This is a never-ending education. Thanks again to you and all so many, to help educate the people that really want to learn and understand this even if it is just bit by bit. Thanks again gg4
Can't wait General!!
Ref: Therefore, the FDIC must make "the Final Payment" to WMI/WMILT on or before December 12th MAX for "WMB and it's assets", or WMI/WMILT will file litigation to re-open the Case due to the Six Year Litigation Rule. GSA/DS agreement date is Dec 12th.
Comment: There is a six year rule that applies to recovery of a claim. WMI/WMILT most likely will file to seek recovery for those assets not belonging to WMB and in error transferred to JPM. Also, this rule applies to the FDIC.
As far as the FDIC must make "the Final Payment" on or before 12th December I do not believe so. Here is why - FDIC is not limited by time constants in winding down the affairs of a failed institution. Resolution, has all to do about any existing claims or ongoing litigation.
FDIC has immense powers.
The court cannot and will not interfere with the FDIC in it's capacity of closing out / termination procedures.
FDIC is on the hook and liable for the "NON WMB assets transferred to JPM. The monetary damages must be resolved and this I believe has a lot to do with the extension.
Johnny, Thank you so much for taking time out of your busy day to bring some more information to this board, invaluable in my eyes. Thanks again the tip of the Hat goes to you, AZ, LG and too many others to list that have helped this board understand and keep on top of every moment that has passed. Thanks again gg4
PIERS first after claims are reconciled, then the fun starts!
Judge never refused something Rosen asked her and litigation???You didn't know there still are some cases going on???I'm glad you asked but every normal person knows she was gonna allow it.
What distributions are Mr. Rosen referring to? "Distributions continue to be made"
Yeah you knew that it was gonna extended past March 18th and you also new there was on going litigation confirmed by him and the FDIC and what else did you know?...please.
Please Regards,
B
He said nothing we didn't know already except payout for what is left in LT is gonna be smaller than we expected b4 and probably zero as he is gonna milk another 3 years and probably 6 years from here.That was also the reason Piers were not paid off completely although they had enough cash to do so.But Rosen wants the money for himself first.I would like to know what he is gonna milk the LT for answering that mail from today.
THEY ALWAYS DO DEAR, they have a hard time keeping their words
Does Rosen email mean nothing coming by EOY ?
from Mr Rosen, "You are correct that the Plan was confirmed and consummated. Distributions continue to be made as disputed claims are reconciled."
Who are these distributions going to? And how are they related to escrows distributions?
I sincerely hope this is, potentially, good news for escrows and WMIH.
Somebody please put "2 plus 2= 4" for me on this possibility.
Ohhh..”confirmed AND consummated”. I like the sound of that. How do you consummate a contract when no AZZ is involved? You pay dividends!! We’ve been tricked with Leah and Rachel’s is up next.
HOW about a link or just your OPINION? E0M
There are no FDIC claims left.
FDIC claims: Are they implied within Brian Rosen´s response?
BR: Because several of these claims are the subject of litigation that will not be completed by March 19, 2018, the IRS extended the term of the Trust. The filing with the Bankruptcy Court is the confirmation of the IRS approval.
Mr_Simpson: I am of the opinion that the LT needs a longer time for some of the claims... is FDIC one of those along Grant Thornton & Employee Claims?
A few of us believe in a Shares for exchange event.
Hope WAMU 1031 Exchange is related to that... it has to be done by Dec 31st.
Oh my Johnny...thank you for that!!
~ JJ, Good to see you here’ ~
The Judge originally Ordered the Result’ ... The eventual result was then achieved and submitted on 12/12/2011’ ... All the Judge did’ was tweak and approve, ... “The Settlement” ... the contractual agreements time line started at the submission of the same, ... 12/11/2011’ ...
AZ
~ Kate’ I’m Totally Not Worried ~
Among many things and issues studied ?, ... I’m rolling with my own study, research, and knowledge of what DB and JPMC’ were up to’, regarding the D.C. dual track, ... the now Settled Globic, ... and also, aligning the Globic’ Settlement with the Dunn & Phelps release of ONLY an 11.9% loss ratio’ ?, I actually thought that number was going to be higher’ ...
... The Trusts’ Are obviously quite real’ ... and JPMC, was obviously ONLY ABLE TO, receive the servicing rights’ for the WMI’ Loan File’ ... and, NO’ ~ I Will NOT be issued an LTI ~ beyond Tranche 5’ ... nonsensical propaganda, nothing more’ ...
... And’ as a current investor ?, ... I also believe WMIH-Corp currently meets all of the SEC’s requirements to be issued, ... REIT Status ... 01/02/2018 would be a great start date’ ...
Let’s see what happens ...
AZ
AZ,
Well now it looks like your statement is collaborated ! Nice Job AZ
Az Regards,
B
NEWS Mr. B.R FROM THE WELL ITSELF
Please respect the fact That I worked hard for this and someone was kind enough to take his time to reply so please as I have his permission to share respect the Man's kindness and do not contact him otherwise he may shut me down in the future. Regardless of how you may feel about him he did do this and that needs to be respected.
From: Barry [mailto:barry@]
Sent: Thursday, December 07, 2017 10:05 AM
To: Rosen, Brian S.
Subject: WMB/WMI
Dear Brian,
Congratulations on making the Super lawyer list. After following you and the WMB/WMI and the wamu case over the last 9 years I can see why you get paid the big dollars!... I am just a little guy whom has been doing my best to follow the complex case. I have a few questions if you can find it in your busy schedule to answer.
Proskauer Rose, and Rosen has you now listed as WMI’s attorney. Recently you there was a request for a three year extension by wmih. I thought POR 7 was the agreed upon plan and that it was in processs of being completed. Now it looks like we have a few parties that are not paying up?
Washington Mutual, Inc., has already completed all of its portion of the Settlement Agreements' ... with Filing # 9901 releasing WMB's "Equity Interest" on 03/16/2012', as was agreed' just ahead of the Plan 7 Implementation Date, which occurred three days later, on 03/19/2012' ... along with the Plan 7 agreed upon disbursement of WMI's Cash Settling Tranche payout' at the Reorganization' .
Specifically
Does not a “the six year rule apply” here ?
Thank you kindly for your time and consideration.
Best regards,
Barry
REPLY
From: Rosen, Brian S. [mailto:brosen@.com]
Sent: Thursday, December 07, 2017 9:38 AM
To: Barry <barry@.co>
Subject: RE: WMB/WMI
Thank you for your email.
Brian S. Rosen
Partner
Proskauer
Eleven Times Square
New York, NY 10036-8299
d 212.969.3380
m 914.393.3040
f 212.969.2900
MY Reply
Dear Mr. Rosen,
You are truly phenomenal for answering a little guys email.
Who says powerful professionals are not kind and benevolent!
I have a simply request good sir.
May I share this with some fellow old WMI shareholders as there is a lot of confusion as to what is going on.
Of course if you direct me that it is ok I would,at your request remove all references to you or your firm. I ask this as only to sooth the confusion and angst that is raging amongst some old escrow holders. Sometimes we feel like mushrooms in a closet begging for sunlight that is almost never existent.
Hat tip of the month to you sir!
Best regards,
Barry
REPLY by BRIAN
AZ, so why not 6years from the signed/approved document date?
... Everything’ and I mean EVERYTHING’ looks different by the 2017’ years end’ ... Let's hope I don't have to remind you when nothing happened at 01/01/2018
The reason the LT wants 3 more years is not for us but because they want to milk the estate completely dry and nothing left and not at all for us.The employee case should have been done long ago but they are keeping it alive not for us but for themselves.
Johnny, please elaborate, "Its coming down the pipe baby ! Its happening sweethearts! Get ready News forthcoming"
Of course,they are getting sick of all this crap about} money..I HOPE YOU DO THE SAME AND LEVE US ALONE
Its coming down the pipe baby ! Its happening sweethearts! Get ready News forthcoming
News regards,
B
~ Johnny (B), Just To Reaffirm My Own Views ~
Regarding my earlier post’ ... In case there is any confusion ... ? ... The way I few things, ... We’, ... are’ and will be’ totally fine’ ... The point I was making, was just how many and just how much is, and has been, involved in this tremendously complex, multiple tracking, ... now ALL Settled, ... litigation ...
... Times Up’ ... Everything’ and I mean EVERYTHING’ looks different by the 2017’ years end’ ...
... The answer, ... is, ... A ... Plan 7’ Will Be Completed’ ...
AZ
We need to make sure the Liquidation Trust stays in tack for another 3 years or more. Once that's goes where screwed. That's how they are going to try and get rid of us. A shareholder should go to the court and bring it up in the court room the stall tactics that are taking place to get rid of us. Even if we as shareholders have to donate money to keep it in tack. Just remember KMART they new what assets where there. The judge had no idea otherwise that would never of happened. They Lawyers made a fool of her and took advantage of the shareholders.
Appears that if C happens then we we're all wrong and BK Shadow was right. We already got everything we're getting.
BBAN
I think you know me better than that. We are on the same team here, and I am simply stating "the All seeing EYE of MORDOR is everywhere and in everything!
Anyone who thinks they are not are delluisional. Its just to what degree you become a pimple on their ass.
If you get to be painful or tiresome they just wrap your butt up in some nonsense and effectively take you out the game, destroy your life, and make you look like a criminal or worse.
I have actually seen it happen ...for real...and the message was delivered loud and clear to someone whom was just poking around where "THE EYE" did not like.
No BBAN I am with you in this fight!
BBan regards,
B
Johnny I hope that really wasn't directed at me, I for one am all for your attempts and have told you as much on several occasions!
And yet again THANKS FOR YOUR EFFORTS
wait to see what happens next
As you all know been here since 10/21/08 over yahoo then to Ghost and now here.
Take what you want from it. I will still ask, and I will keep on going; as I am with in my legal right to ask.
So if some entity or person does not like my inquires they can do as they wish; however until the men in black show up I could give two ----- if they feel prodded by a little fish..
Fish regards,
B
Of course,they are getting sick of all this crap about money FDIC is gonna pay to escrows.They have only 100M left and maybe they will give it to golden boy too instead of escrows.
If we will get FINAL PAYMENT before due date, however we don’t have enough time to review whether the amount is fair and correct or it way below the expectations. After we figure out there are some missing or hiding assets still, however we already miss the litigation due date. What should we do?
"Neither Ms. Foster or I are (((able))) to answer your question."
Sounds more like she's been TOLD TO SHUT DOWN any further conversations, to me...........
You never know who watches these MB's, nor who they work for......
AZ sorry to ask since you likely have already done so but could you please link the 6 year rule you are talking about?
So she can't answer this one.. did 90% of my others. Interesting what was left out?
Can't regards,
B
#7 FDIC Janice Hello Barry.
Hello Barry
I’m sorry but you must direct your inquiries through the Freedom of Information Act. Neither Ms. Foster or I are able to answer your question.
Thank you for understanding. I’m sorry we could not assist you further.
Janice
________________________________________
On: 07 December 2017 08:45, "Barry" <barr&co> wrote:
Good morning, Cold as all get out here. Now I know why you both are in the Texas.
I have looked into the F.O.I. A request and from speaking to a few familiar with the “process” There is a better chance of a snowball residing in hell then a F.O.I.A.’s chance succeeding getting any info.
I have been following the WMB / and the six year rule. Is it correct to say that the dates from the Judge Walgraths 12/12/2011 The "Six Year Rule" time limiting allowance began on 12/12/2011 Is it correct that The FDIC must make "the Final Payment" to WMI/WMILT on or before December 15th-ish for "WMB and it's assets" due to the Five Year CG/CL Tax Rule.
Please assist or direct me to that department if at all possible. Any info helps tremendously as this is only a request that clearly is inside of reasonable. I not saying that you have to state anything just that these rules apply or may apply.
Warm Regards,
Barry
REQUIRED READING FOR THOSE WHO...
believe JPM got "everything WaMu" for just 1.9B dollars.
https://www.scribd.com/doc/301439944/moller-expert-report-28ss-29-28mtm-29-2c-1-6-2014-docx
Cheers,
Uncle Bo
Aaron It's all a crapshoot, sooner or later somebody wins and somebody loses, but the house is always favored
Ts
ron I hope it works out that way, I've seen in my many, many yrs in this game more HOW DEY DO DAT, HOW DEY GET AWAY WIT DAT BS.Well we are living proof of HOW DEY DO DAT, ARE WE NOT? Some say they can't have this rehashed in court, I say if it did ,how many,many years more of the Rosen's and like of such iffen, remember enough time has/will past just like WW2 and twenty-five years later the once enemy owned half of NY. Hmmm? and nobody but the dead cared AIMHO
Ts
And what about all the other crooks?We have 9 directors and none of them did find a M/A???Maybe you and I can look for one:I think we will have a M or A candidate in six months.
And if we get paid I do not give a dam how much they get. The two New members Fairfield & Gallagher get 5 Million for a M/A .
~ (B) These Are Tenuous Times For Sure ~
I gotta run, but I'll check back in later'
AZ
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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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