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This is the $600M preferred offering between WMIH Corp and KKR.
Nothing at all to do with the WMILT or Escrows.
The article, if it was read, plainly states this.
Half a billion- thats $50 per P. Nice! That used Hyundai I saw last week has my name written all over it!
I suspect the use of the words escrow account have to do with a mundane escrow account used in large transaction, not the LT escrows.
LP, welcome back!
Maybe the DB money came in...around 600milliom
What is this about? Why didn't anyone else post this from this document.
WHEREAS, Escrow Account balance as of date hereof is $578,336,434.79
Does this answer the question everyone has been asking for years. We have a little more than half a billion coming to us?
Looks like KKR and Citibank getting paid
You really know how to pick the Best Nick out there.Thanks for the nice Words my friend.I know and am pretty certain that there is some Golden Brick for everyone of us waiting in the end of tunel just we dont know how long before the tunnel is done as there is no light as the Light Lambs should have been Willingham as he is the One responsible for our darkness and should feel so.He is OUR MAN and OUR LAMB.Once I said to a Friend of Ours in this Board few months aggo-Justice Delayed is Justice Denied.You know him too.It seems that we are on the side of those whom Justice have been denied till now on this moment.
By the way I had to pick up a Better nick as your make me feel not so Lucky as You.Was really thinking to change it on Eager Beaver.Lucky Panda is still better and somehow Unique.I am keep staying optimist after reading the DB Trustees Filling for a Disbursment after the January 2018 which make me Think that this time somewhere behind or during this January we could see finally have a Small Distribution for around 600M$ from DB on our escrows.Of course Wishfull thinking and Hoping not to get for the so many time a new Splash in our faces for facing the reality of the Negligente Folks on the WMILT for letting a man like Kosturos one of the most hatted Folks between the Old Time retailers have his way on finishing his Glas of champagne before to start getting busy with Serious work of distribution or filling some PRESS Release on saying whats happening behind the closed doors.Finger crossed my friend and of course Payers Ahead to not get disapointed as Usually from the same Folks as we are in the same Transche.
The Sixth One.
Good bless you too Altini. I've been reading your posts frim the very beginning. Thank you for all your contributions over the year. This wait had been very frustrating but there two things I am certain off...
no one drags put lawsuits unless there is money involved.
institutional preferred share holders have billions to loze if there are nothing in safe harbor and they wouldnt have sign up for POR 7 if there were any doubt of what was in safe harbor.
thank you wamutrader! bump to top.
cautionary tale for all escrow owners
Section 1504 of the IRC - 61 months
RECONSOLIDATION OF ASSETS?
“Group” shall mean (a) for U.S. federal income Tax purposes, any affiliated group of corporations within the meaning of section 1504 of the IRC, and (b) for state, local or foreign Tax purposes, any group of corporations that filed (or was required to file) as a combined, unitary or consolidated group under state, local or foreign Tax laws, with respect to which, for purposes of both clause (a) and clause (b) hereof, (i) any of the WMI Entities (or any predecessors thereof) is or was a member and (ii) WMB (or any predecessor thereof) or any subsidiary of WMB (or any predecessor thereof) as of September 24, 2008 is or was also a member.
https://www.law.cornell.edu/uscode/text/26/1504
“WMI Entities” shall mean WMI, WMIIC, Ahmanson Obligation Company, H.S. Loan Corporation, Marion Insurance Company, WAMU 1031 Exchange, WM Mortgage Reinsurance Company, Inc., WM Citation Holdings, LLC, Washington Mutual Finance Group, LLC, Soundbay Leasing LLC, WMGW Delaware Holdings LLC, WMI Rainier LLC and Washington Mutual Capital Trust.
"______, 201__" is a whole different animal than ",201".
O well ther is always 2019 keep waiting
Question to the Judge:
Honorable Judge Mary F Walrath do you think that an examiner who tries to blackmail a certain outcome of your judgement by giving comments to the public even before the hearing, has any credibility?
By doing so he proves that he stands close to one party.
An examiner has to be absolutely neutral otherwise his conclusions are not objective.
I request to disregard any word coming from Mr.Joshua Hochberg.
https://www.publicintegrity.org/2010/11/04/2349/wamu-examiner-sheds-new-light-bankruptcy-criticizes-fdic-lack-cooperation
Statement of Mr Joshua Hochberg:
Lack of transparency by the FDIC, while a concern, did not affect his final conclusions.
How can he know that it would not effect his final conclusion.
(Mr Hochberg claims to be examinor and does not follow the basic laws of logic!)
FDIC holds back information, for what reason?
FDIC refused Bair and two other officials to be interviewed, for what reason?
Does FDIC shiver that malpractice or even corruption comes to the light?
You don't think it's possible the date refers to February 1? It's an escrow distribution date as well. European style dates are really unusual in the U.S.
201 Comes From the Original Doc
See righthand side for date field.
https://www.lawinsider.com/contracts/6DlbW9RBKOyMfmpPA46W93/washington-mutual/933136/2017-12-11
January____, 2018
then;
______, 201__
for next pages.
Up Date; Doc is awaiting signatures.
to wamuvoodoo
I remember all your poatings during the trial
back in 2009 and 2010
Can you give me a serious answer about this
Escrow crap ?? Is it for real ??
I went throught that process getting my vote
in on time and all the paperwork saying
I have escrow shares.
But this is all confusing.
Can you give me a truthful word.
I greatly appreciate it
SG
Happy New Year LP and I am happy to see you are an Lucky Panda but one thing is sure true that this thing have dragged far to long for not to have doubts about the future of our investment on this nine year Sagga Story.I hope you remember when they were telling how in the end of the next month disbursment would start and full face value on P would be made while we would get full face value of splash on our faces from the life for trustint to much on "More than Fair and Reasonable" Voices of Sargent and Willingham.May God bless Them as we thank them but for sure blame them for have been so soft on the hedgies and the FDIC to have let this Drag so long and so Harsh on our lifes;Comon Man we are talking 8 years of Patience Failings Battles and Surviving Fights made by them with our Prayers as Suport to them from us and we here wondering and asking why we the most suffering and in the dark side of the story.The Retail.So lets hope we get to hear something soon as many people arent here between us anymore as God decided to take them to soon to enjoy this Abundand Gift of God of Justice and Mercy.Finger crossed to see something happening before the end of the month January.God KNows how Tired and Angry we are for waiting for so long and much in the Dark allowed and suported by Willingham and the AAOC Minnions.!
Thanks for your valuable input in here and special DD made to this Board and a Happy and Lucky New Year to you and other Folks as You Wilingham included too as he might not be able to do more than actually have done to shed more light than we have.
Sincerely Altini
dmceng, I still feel a Material Development has happened and/or is in process. It may coincide with potential distribution at the end of Jan/2018.
In some, mostly European companies dates are set up by weeks so 201 is a 2nd day of 1st week of the year
First place will be between 1 and 7
and week number between 01 and 52
Also I don’t think this is case here,
I wish I’m wrong!!
Fwh
Let's get ready to RUMBLE!!!!
TAKE CARE
DAVID
I have no idea
My bet - they have dirt on someone and are grossly over paid
Thanks BigAW. “Never argue with a fool, onlookers may not be able to tell the difference.” ? Mark Twain.
Most fund managers are paid for advice, and charge a percentage of the return on investment (ROI) not on the principal outlay, or value of the investment. If, as many hope, there are hidden billions, what is being earned on the hidden billions might be $100M, and the 2% fee would be around $2M (using the previous formula). If true, it gives new hope to all that there are hidden billions.
Can I make ANY of you understand that is LOT MORE THEN millions, as it does not necessarily have to be industry standard. A&M are managing ABS cert Plus CASH & assets for WMI/WMIH GOOGLE Alvarez & Marsall & see what you get.
What if the ",201" is a bad copy/paste? What if someone meant to past ",2018"?
I've never in my life seen ",201" be a date.
and
you do have to admit that I have so far been right in my understanding for many years
As always - fully anxious to be wrong and get my share of Billions
BBAN
the hedge funds and ... and own WMIH
that is not the escrows
Are you saying that WMIH will get that money and not us equity holders directly via our escrow ?
Either way - its GREAT as I have both
But I simply do not think there was money "not there" but now there -- either for WMIH or the LT (the LT here being escrows as the money in the LT will just finish up all the rest and start to flow to equity - so any add to LT is ours)
I hope you are right
I do not KNOW there is no such money
I simply do not at all expect it - not one bit
"shaking the tree" is a well known term on wall street, whereby floor traders drop the price to pick up shares from a bountiful supply of stock at the upper price levels... this is a very easy task, simply because investors become skittish or spooky at higher prices and will react to very little incremental price changes in the stock...however, a new phrase to describe floor traders has emerged since the WAMU bk, and that is... "scrubbers"...a scrubber is a floor trader, or MM, who will "walk" through every incremental change in pps at the .001 level... he does this back and forth each day wringing out stock at the lows... this is a much harder procedure and requires the seller to a different level of emotional state...the seller, after having endured a significant loss in his portfolio, becomes hardened, and unwilling to sell at the lows... so whats the MM to do... feed him boredom, ennui, doubt, impatience, and "in the dark" with company events, so that there is no light at the end of the tunnel... such is the case with trading of wmih..one can only surmise that the 100 share trades ad naseum is designed for just that...it portends a very small float outstanding, whereby MM will only risk selling 100 shares in order to "scrub" big volumes from disenchanted longs...so, the high hanging fruit has been shaken, the "low hanging fruit" has been picked, which alas, leaves the rest to the "scrubbers"....hold your stock Lodas
Typically when managing more than $10M, the fee is .10% which would equate to billions......$2B at that rate.
Where did the 100M come from?
You said industry standard is 1 to 2% in post 502616.
He did the math using your figures and 2 million is 2% of 100 million, not "BILLIONS".
Thanks for the article. It’s makes you think.
WELL FOR SURE ! AS I SAID MANY CONTIGENCIES One thing you can derive we are in 2018 I did not see a 202 LMAO
Jan is a real date wether it be now or one year from Now its always been Jan
Thanks Ron and also the calling and cancellation of the January 4th Court date gives one the feeling of the your nr 1.
RON you WOULD PUT THAT in a template so that when it BECAME A REALITY it would be addressing it in the past tense THAT IT HAS HAPPENED/Taken place.
Surely you don't believe they would let this slip out and NOT PUT OUT an 8K, even if they are covered under being outside of NASDAQ requirements
RON come on really? you are very good at what you do, BUT you get tunnel vision on every thing you bring forth.........Take the blinders off and you'd see a template for a Q&A would have to be written IN IN IN the PAST TENSE
Yes, past tense, because it is the template form which WMIH must use and send to the Escrow Agent AFTER a (potential) future QA
They only have to fill in the correct date and nothing else...
OMG
JWW BINGOOOOOOOOOOOOOOOOOOOO
"Consummated On", Past Tense.
"The Company certifies to the Escrow Agent that (i) a Qualified Acquisition (as defined in the Charter) was consummated on , 201 , and (ii) no shares of Series B Preferred Stock remain outstanding as of the date hereof."
This is only the third day of the New Year.
Doc posted yesterday, January second.
Is it really that difficult ?
Are you saying it happened 2019, in the Past Tense?
Next Yeared, Past Tense?
There has been no amendment to the KKR strategic investment agreement which limits KKR and affiliates to 42 percent ownership, and as I read that agreement it does not terminate on 1/5/2018. And if some other entity gained control, then why would the Series B have been amended in the first place?
What a joke! It is a template for the correct date that should be entered when the QA happened!
on , 201 ,
means for example you should enter
on March 05, 2019
or
on June 06, 2018
Read
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137365072
carefully, then you will find the solution by yourself...
Ok to military dates I go that far ,but still say this is a TEMPLATE for WHEN we do something and they have left the last digit to be filled in..
HEY again I hope I am wrong but really feel this one is barking up the wrong tree..............But along those lines I am still feeling we have had a material event take place already with the D having been placed on us NOV 14 and we start trading higher and larger vol on the 15th, which is still far enough ahead they would risk buying more so as not to red flag their purchases
WE WAIT WE SEE WE GUESS and also THIS AINT MILITARY and THIS IS THE US
Where did the 100 M come from, just pulled out of thin AIR, OR SOMEONE'S opinion??
Military dates
02Jan18
Other countries do this as well.
Civilian dates in the USA
Jan 02, 2018 or 01/02/2018
We Have Two Very Different "Change in Control"
1. CIC for "WMB and it;s assets".
2. CIC of the WMIH-BOD due to the Series B Preferred Shares, SBP voting rights.
"and normally entitled to vote in the election of directors (such an event, a “Change of Control”)."
You post is about #1. CIC from "the Final Payment" for "WMB and it's assets".
2. CIC for the Series B Preferred Shares, SBP.
Page 25,26
"Repurchase at the Option of Holders upon a Put Event
If a Put Event (as defined below) occurs at any time when shares of Series B Preferred Stock are outstanding, each holder of Series B Preferred Stock shall have the right, at such holder’s option, to require us to repurchase (a “Put Event Repurchase Offer”) for cash, out of funds lawfully available for payment, all of such holder’s outstanding Series B Preferred Stock, or any portion thereof that is equal to $1,000 or an integral multiple thereof, on the date specified by us in the Put Event Company Notice (as defined below) that is not less than 20 calendar days or more than 35 calendar days following the date of the Put Event Company Notice (the “Put Event Repurchase Date”) at the Put Event Repurchase Price (as defined below).
In the case of a Change of Control (as defined below), the “Put Event Repurchase Price” shall equal $1,750 per share of Series B Preferred Stock, plus accrued and unpaid dividends, if any, whether or not declared.
A “Put Event” shall occur upon the occurrence of the following:
• if, prior to the consummation of a Qualified Acquisition, any “person” or “group” of related persons (as such terms are used in Section 13(d) and 14(d) of Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person or group shall be deemed to have “beneficial ownership” of all shares that any such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than a majority of the total voting power of all classes of capital stock of the Company then outstanding and normally entitled to vote in the election of directors (such an event, a “Change of Control”).
https://www.sec.gov/Archives/edgar/data/933136/000119312515400186/d29830d424b3.htm
From Johnny's post
Quote:The Company certifies to the Escrow Agent that (i) a Change of Control Event has occurred, and certain Holders have properly tendered for repurchase their shares of outstanding Series B Preferred Stock pursuant to the Change of Control Event Repurchase Offer, and (ii) the Escrow Property released pursuant to this certificate will be applied to pay the applicable Change of Control Repurchase Price to such Holders on the Change of Control Repurchase Date pursuant to the terms of the Charter.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137365072
Goes against the way we write date in AMERICA, and hey I hope I am wrong but
Enjoy this old article link...read...very interesting...If not just simply for entertainment purposes.
I have held on to this article I found many, many years ago, and I would like to share...I have been with everyone here for 9 years from the beginning.
It is regarding what to do when you receive a large inheritance or multi million dollar stock/lottery win. It also goes over pitfalls and mistakes many have made when receiving large sums of money without professional counsel.
https://www.ar15.com/forums/general/-/5-749519/?page=1
The first advice is to NOT TELL ANYONE IN YOUR FAMILY YOU HAVE THE MONEY until you retain a lawyer, a tax accountant, and create trust funds for your family, dictating how money will be disbursed for their care.
I am not a professional anything, so don't take my word for financial advice, until you speak with a professional, but ... Some of the investment advice is outdated now about investing a portion of your money in Bonds, since bonds NOW pay a NEGATIVE Yield, (meaning you have to pay to play) and not a good idea to put your money into at the moment. Instead, check out REIT's that pay a Yield, for that portion of the investments, or some other conservative vehicle.
The rest of the advice is pretty good IMHO. Start to do your own DD.
GLTA!!
Its just Common Sense and makes lot of sense. U R Right.
I just can't help feeling as if they have already made a deal for escrow because how can they move forward with a third wheel hanging around. Just a feeling.
Cura and it could have happened nov 14 as you see on the 15th the PPS started going up as did the daily vol.......................AND THE NASDAQ put the "D" on it the 14th..........
The "D" can as well mean NON COMPLIANT IN REPORTING material events, which would be NBD since were are already on their chit list
BOND
Well pard probably WHILE YOU'RE ALIVE, but as for some of the others here maybe not.......
So in that sense feel lucky
I've heard 65 (ME) to 84 as to the age of some of our shareholders so again FEEL LUCKY.
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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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