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Basically, I think REMIC trust "could" be one of a legitimate claimant because those real estates belong to her.
I know LT has no cap. I interpreted to the maximum claims per waterfall. After everyone gets their shares, then balance goes to REMIC, then to Re-organized WMIH. IMHO
I meant that tpg, old preferred and common gets $16B which includes the 1 x PAR and accrued interests.
The balance 41B goes to WMIH. The total shares issued and preserved are 3.7B shares. It's my bad, forgot TPG, then is closed to $11/share.
Basically, I am saying that common will get 1/3 of prefer reds, including accrued interests.
Personally, I think LT ( if any $ goes there ) would just pay preferred FV + accrued interests, and common pro-rated as well.
The biggest beneficiaries are common share holders of WMIH. If there is 55B returned, common pps is around $15/share. IMHO.
Fully agreed, especially in karma.
However, also shows that he is the chairman of WMIH.
I think that's him. He was the chairman of the board of WMIH as you read through.
No more real estates any more. It's gone. WMILT only gets cash, + 38B mortgage, if any, from FDIC-R.
JPM is very smart. She converted 100B+ mortgage titles from WM to herself via refinance, liquidation, etc. JPM only returned 38B back to FDIC-R.
Think about this. If you wanted to refinance your mortgage in 2009, where did you go? WMB was on longer there, the only choice was JPM. That means ( servicing the mortgage). In return, JPM just return the cash from aboveboard-mentioned actions to FDIC-R. Very simple, and straight forward.
Plus, there is no way to hide the truth. If there is low evaluation happened, big As would not let them go.
Yes, you're right. I am very patient and await. In any case, I will be compensated by accrued interests, and the commons as well. In a nowadays, where do you find such a high-paid interests.
The key now is the war between FDIC-R and JPM. We are sitting there relaxed, and watching two tigers are fighting.
You're assumption / notice are right for almost 99.9% of those failed banks except WMB because she was solvent.
You're definitely right. The key of keys is the "initial". Otherwise, just delete it to make it simple.
Sorry, I did not follow it.
Like Washington Mutual Inc ( wm bank's holding company's) got $5B+ NOL.
$72.00
But definitely will be less than ONE billion. LOL
Maybe I am wrong. I remember that Judge Collyer used "initial payment" in her summary in the case FDIC vs JPM.
I did per my previous post.
Why don't you check on LEHNq?
You're correct. I looked into cached on 8/23/2013 w/o audited, but now shows "audited " for lehnq
I used to have a S corp, and I applied NOL for my tax benefits since 1997, and I did not use all. However, I moved to another states, and my state tax benefits was void.
Look into the insolvency, the COD income is completely excluded while the debaters filed bankruptcy. Of course, it will trigger the tax attributes. It will trade the "current" income to against NOL "carryover".
I may be wrong. Trading the current income means the income after out of bankruptcy, and against carryover means year after year
If creditors claim the LBHI2 less than 50% of equity, and ex equities claim more than 50%, the NOL is intact.
I remember your article, by the way, thanks for your contribution, meantioned that NOL will not be deducted / excluded by COD if it is under the status of bankruptcy.
Maybe some creditors like to save NOL to create LBHI2 as wamu.
Having read the article, I think Lehman2 can keep her NOL 100% , and not affect by COD due to the situation in bankruptcy.
I think $4B was returned to WMI in exchange no law suit against JPM. It's totally ridiculous. It was WMI's money. The money paid for secured senior creditors. That's the reason that JW + Rosencrap are criminals.
Unfortunately, the current situation is just as you said.
Fortunately, we have no pressure due to escrow status.
At the end, everyone is a winner. Stock price goes up, and escrow may get paid as well. The difference is what is your expectation.
KKR's actions forwarding WMIH is based on FDIC-R return $$ to LT.
If KKR does it w/o $$, you won. Otherwise, AZ/LG are right.
Let's see it.
Thanks for more info regarding legal issues down the road.
Just be patient. FDIC-R is holding finalizing PAA due to the lost in Collyer's court. Nobody knows what's inside of the sealed documents. FDIC now is looking scpapegoats for $10B DB's claim. Maybe there is more.
Unless wmiic never put the her own money in the package, of escrow will receive nothing. The worst situation, assuming 90% lost, escrow still gets 3B back.
JPM bought, not find incidentally. We're pretty sure there is $30B. Finally, our hope is creased from 0 to $30B at the present. Nobody knows how much more, everyone is guessing from 0 - 100B.
Actually, it is very simple. During 2009 - 2014, a lot of home owners were refinancing their mortgage due to low mortgage rate. JPM did the service for refinancing by using her money, plus converting all wamu's mortgage to herself. Of course, JPM had to pay FDIC-R per the book value. Those pays are under the private label oF wamu's MBS. How much wamu's will get back is really based on the deal between wamu and other investors. For instance, if MBS lost its value, who should be responsible for what.
Suckman entered a sealed documents that every attorney knew what's inside. By law, He could not speak out in favor of us. But, sooner or later it will reveal it out after PAA is finalized. Most important is that $1.88B is just initial bid, and not cover everything. It seems that AZ, LG are on the right track.
That makes perfect sense.
LG, I'm with your logic thought. I believe the final result is NOT far away from your prediction. The only thing is the timing, which is totally out of our control. Who cares, I have been here for 7 years. 6 months matters? I doubt.
It seems that shareholders get nothing because Judge Wheeler says AIG would go BK if there wasn't any interbention from government.
Thanks for your comments.
I read almost your posts and LG, AZ's posts. I try to find out any possible interconnection with each other. IMHO, please let me have your comments.
WMII supposedly should have investments in MBS. After BK, JPM serves the MBS. There are three categories of MBS owned by WMI.
1) MBS were repurchased (actually should be re-financed by JPM's money). Therefore, WMII no longer owns it, and should get its original investment in terms of cash back.
2) MBS were liquidated. It means either being in short sales or foreclosure. WMII lost it's MBS again, and gets money back again from JPM. How much WMII lost, nobody knows.
3) 38B of MBS will be back to WMII due to some troubles in the status of either foreclosure or short sales.
Could WMII still has money or not enough to pay out other investors unknown. It explains some puzzles here, such as M&A not happen yet, JPM shed $100B in cash and return $38B of MBS, have assets management on board for $38B, and have investment experts on board for $100B (if it shows surplus). Nothing is happened yet is because that everyone is waiting for final reconciliation from FDIC-R.
Per POR, cts' interests will be redistributed to senior unsecured debts? Is it still true or no longer apply? Thanks