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Hopefully, we at least see or hear about distributions this year.
…
IPrelude, I have always said a DST will play a vital role in our eventual distributions. Here take a look at the Seven Deadly Sins of a DST:
———————————————
The following is a list of the Seven Deadly Sins of a Delaware Statutory Trust (meaning all seven conditions below need to be true in order for a DST to be a legal entity):
https://seracapital.com/1031-exchanges/the-seven-7-deadly-sins-of-delaware-statutory-trusts-dsts/
"The Seven Deadly Sins of Delaware Statutory Trusts (DSTs) Explained
ONLY POSTING NUMBER 6 Of The 7 Deadly DST SINS:
6. All Cash, Other Than Necessary Reserves, Must Be Distributed To The Co-Investors Or Beneficiaries On A Current Basis. According to the IRS regulations, DSTs are allowed to keep cash reserves on hand to cover emergency maintenance and repairs issues. However, they are required to share the earnings and proceeds realized from the DST to its beneficiaries within the agreed distribution date. This deadly sin prevents trustee misappropriation of funds and protects beneficiaries’ rights to receive their earnings promptly.
XXX
BBANBOB, yes, you have been saying since the beginning of this travesty that if and when there are distributions this would happen during a financial meltdown. This calamity has clearly started.
Dmdmd1 has mentioned he felt the distributions would start in the second or third quarter of the year 2023.
Remember, COOP's annual meeting is during the latter part of May. If there are any material developments that could potentially be tied to what we are looking for then these materials would need to be filed and sent out to shareholders prior to 60 days BEFORE the meetings take place, assuming there needs to be shareholder approval. However, this approval may not be necessary for something to still happen as there are ten million preferred authorized and shelf-ready.
This means we should see these materials prior to the end of March 2023. As I always say, only time passing and filings will show us the way forward.
....
fred, you said the following:
___________________________________________
..esop believes checks are in the mail, and our brokerage accounts get CREDITED, at any moment.......10 spots, per...
____________________________________________
It would seem to me now that we are on the cusp of a potential worldwide financial calamity, the FDIC would like to get many of these so-called bank failures during the 2008-2012 time period out of the way as a whole new bunch start failing.
Otherwise, they will be so bogged down this could literally go on for another 20 to 30 years getting little to nothing accomplished...of course, that may actually be their goal...
...
IPlelude, very interesting all moved to be incorporated in Delaware.
As of : 03/15/2023 07:39:14
This page is valid for most business transactions but is not sufficient for filings with the Secretary of State
Obtain a certification for filings with the Secretary of State.
WMI HOLDINGS, INC. DBA WMI DELAWARE HOLDING CO.
Texas Taxpayer Number 32042430036
Mailing Address 1999 BRYAN ST STE 900 DALLAS, TX 75201-3140
Right to Transact Business in Texas
ACTIVE
State of Formation DE
Effective SOS Registration Date 08/13/2010
Texas SOS File Number 0801306086
Registered Agent Name C T CORPORATION SYSTEM
Registered Office Street Address 1999 BRYAN ST., STE. 900 DALLAS, TX 75201
…
Strike, without a written, signed, witnessed and dated agreement, there is no other answer with experienced law firms especially with the likes of SG, it is the same as selling your clients down the river for whatever means period!
I do not believe it but if that is what happened SG sold us out period!
…
COOP 8K
https://www.sec.gov/ix?doc=/Archives/edgar/data/933136/000115752323000427/a53360870.htm
Item 7.01 Regulation FD Disclosure.
Mr. Cooper Group Inc. (the “Company”) made the following disclosures in relation to market events, including the recent closures of national banks:
?
The Company’s corporate uninsured cash accounts are held in money center and global investment banks; and
?
Client funds are held in insured deposit accounts at a mix of money center and regional banks.
Separately, the Company disclosed that over the course of the first quarter it has increased the target hedge ratio on its MSR hedge position to 75% of the net duration risk in its MSR portfolio from 25% at year-end 2022, with the goal of mitigating the risk to capital and tangible book value in a declining interest rate environment.
The information furnished pursuant to this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor will such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
…
boarddork, you said the following.
THERE IS VIRTUALLY NOTHING about who WMI Corp (WMIH)
Remember, WMIH was nothing but a shell company with 73 million in cash and no income stream, and no business other than the insurance runoff business. It exited bk on 3/19/2012 under Fresh Start accounting rules with no business.
...
Maybe the FDIC shuffles some of SVB monies to pay off UWBKQ CUSSIP Rats this month to make this go away.
After all, the FDIC is a Ponzi Scheme ready to collapse anyway.
…
BREAKING: California Regulators CLOSE Silicon Valley Bank – FDIC Named Receiver – CEO Allegedly Sold $3.5 Million in Stock in Last Two Weeks
https://www.thegatewaypundit.com/2023/03/breaking-california-regulators-close-silicon-valley-bank-fdic-named-receiver-ceo-allegedly-sold-3-5-million-in-stock-in-last-two-weeks/
...
AND SVB has LOTS of assets so that means due to the corrupt change the FDIC made in the law in the year 2012 after they failed to legally get WaMu assets, the FDIC is now able to legally take 100% of ALL of SVB's assets even though their assets may be way above their liquidity issue.
WOW oh WOW, what a corrupt country they have turned the good ole USA into and I am sure our Forefathers are turning over int heir graves!
...
Dmdmd1- More Great Diligence, Research. Links and Facts - Very Challenging To Refute Hard Facts
Quote from: Inthemoney on Yesterday at 06:14:26 PM
Those are valid points Dmdmd...I cannot speak for her or why she wrote what she wrote. I think she is probably irritated by the barrage of questions and people pestering her... therefore IMO a quick way to end every conversation is to say there is nothing and there will be nothing so go the F... away.
Inthemoney,
Former WaMu employees, whether from WMI/WMB/or any other subsidiary (I don't know if you're one of them), are not privy to the high level inner workings of the securitizations. If there is someone here on this message board that knows, I'm sure they are not going to publicly disclose that information. The higher management employees of WaMu Capital Corp. (WCC) would know about securitizations. I don't know if Doreen Logan was one of them.
David Beck, explicitly testified :
Per David Beck's April 13, 2010 congressional subcommittee testimony,
WMI retained more than just residual/equity interests in MBS Trusts.
My previous posts regarding David Beck's testimony is below:
https://www.boardpost.net/forum/index.php?topic=12993.msg225429#msg225429
"Per David Beck, Executive Vice President in charge of WaMu's Capital Markets Division, stated on page 118 to 119 (PDF page 124 to 125) that WMI (WaMu, Long Beach) retained interests in the loan pools that were securitized.[/i] The following is the full text:
https://www.hsgac.senate.gov/imo/media/doc/PSI%20REPORT%20-%20Wall%20Street%20&%20the%20Financial%20Crisis-Anatomy%20of%20a%20Financial%20Collapse%20(FINAL%205-10-11).pdf
"At its peak, right before the collapse of the subprime securitization market, WCC had over 200 employees and offices in Seattle, New York, Los Angeles, and Chicago. The majority of WCC employees were based in New York.432 WCC was headed by Tim Maimone, WCC President, who reported to David Beck, Executive Vice President in charge of WaMu’s Capital Markets Division. Mr. Beck reported to the President of WaMu’s Home Loans Division, David Schneider.433
At the Subcommittee hearing on April 13, 2010, Mr. Beck explained the role of WCC in WaMu and Long Beach securitizations as follows:
“WaMu Capital Corp. acted as an underwriter of securitization transactions generally involving Washington Mutual Mortgage Securities Corp. or WaMu Asset Acceptance Corp. Generally, one of the two entities would sell loans into a securitization trust in exchange for securities backed by the loans in question, and WaMu Capital Corp. would then underwrite the securities consistent with industry standards. As an underwriter, WaMu Capital Corp. sold mortgage-backed securities to a wide variety of institutional investors.434
WCC sold WaMu and Long Beach loans and RMBS securities to insurance companies, pension funds, hedge funds, other banks, and investment banks.435
It also sold WaMu loans to Fannie Mae and Freddie Mac. WCC personnel marketed WaMu and Long Beach loans both in the United States and abroad.
Before WCC was able to act as a sole underwriter, WaMu and Long Beach worked with a variety of investment banks to arrange, underwrite, and sell its RMBS securitizations, including Bank of America, Credit Suisse, Deutsche Bank, Goldman Sachs, Lehman Brothers, Merrill Lynch, Royal Bank of Scotland, and UBS. To securitize its loans, WaMu typically assembled and sold a pool of loans to a qualifying special-purpose entity (QSPE) that it established for that purpose, typically a trust.436 The QSPE then issued RMBS securities secured by future cash flows from the loan pool. Next, the QSPE – working with WCC and usually an investment bank – sold the RMBS securities to investors, and used the sale proceeds to repay WaMu for the cost of the loan pool. Washington Mutual Inc. generally retained the right to service the loans. WaMu or Long Beach might also retain a senior, subordinated, residual, or other interest in the loan pool."
____________
IMO my conclusions as of March 09, 2023 @ 0756 CST:
1) Doreen Logan cannot disclose anything about assets that was bankruptcy remote (WMI non-banking assets such as beneficial interests in MBS Trusts)
2) Only high level managers of WaMu Capital Corp. (Tim Maimone, WCC President) and of course David Beck would know the inner workings of securitizations into MBS Trusts
3) Per my previous post with respect to Kerry Killinger's Youtube interview:
https://www.boardpost.net/forum/index.php?topic=18655.msg334126#msg334126
Excerpt:
"26:26– Portfolio Loans (kept Option ARMs)
70% were fixed rate loans which were securitized (sold most if not all fixed rate loans)
My Calculations:
Assumptions:
WMB/WMB Fsb and subsidiaries originated $1.8 trillion
$1.8 trillion x 70% = $1,260,000,000,000 in fixed rate loans which were all securitized
I tabulated $101.9 billion WMI owned beneficial interest in MBS Trust securitizations
$101.9 billion/ $1.26 trillion = 0.08087 or 8.087% of all loans (counting for fixed-rate loans only, because there were ARMs that were securitized) were retained by WMI."
_____
Per Killinger's interview, he states that 70% of loans were securitized!!
Which means that WMI subsidiaries/WMB and its subsidiaries sold 70% of originated loans ASAP!
Which also means that WMI ultimately retained beneficial interests in those securitizations! Per all the 10-Qs and 10-Ks, the total amount was $101.94 billion in beneficial interests which are considered bankruptcy remote non-banking assets.
...
HERE IS WHAT A POSTER IS TRYING TO SAY BUT CANNOT - THIS DUE TO OWNERSHIP DECISIONS
OK, so let us parse this out per sentence and/or comma. The following is what a Poster copy/pasted from the filing and hopefully he did not omit or change words.
__________________________________________________
~ BoardDork That's Correct' ... Here's ONE' ("Cowboy Released") a Public Nugget Regarding (XXXX) ... WMIH, the Sub, now trading as COOP, ... where, the Mr Cooper Group IS', ... the sub of a sub of' (XXXX) ... ~
As further described in Item x.xx below, WMI Washington consummated a reincorporation merger (the “Reincorporation”) with and into its wholly-owned subsidiary, WMI Delaware,
pursuant to the terms of an Agreement and Plan of Merger entered into between WMI Washington and WMI Delaware on xxx, xx, xxxx (the “Merger Agreement”), which is attached as Exhibit 2.1 to this Current Report on Form x-x and incorporated herein by reference.
The effective time and date of the Reincorporation was 8:00 p.m. Eastern time on xxx, xx, xxxx (the “Effective Time”).
As a result of the Reincorporation, the registrant is now a Delaware corporation.
***NOW READ VERY CAREFULLY AS ALL WMI DID WAS CHANGE TS NAME***
[ xxx ] In addition, at the Effective Time, WMI Holdings Corp. changed its name to WMIH Corp.
The Reincorporation also resulted in the changes to the directors and officers as set forth in Item x.xx below.
A) On March 19, 2012, the Effective Date, WMIH WAS BORN
B) The ED separated ALL SAFE HARBOR, BK Remote assets other than what was specified and distributed
C) The ED ALSO allowed WMIH to move forward as a stand-alone publicly traded company
D) The very important FACT with the ED is there was an Ownership Change that specified what was owned by those who signed timely releases and backed up by an 8/01/2012 8K filing showing Preferred Equity Interests and Common Equity Interests which own the former Estate at the ratio of 75/25
WMI Delaware will continue to operate the business of WMI Washington as it existed immediately prior to the Reincorporation, and the fiscal year, accounting, location of the principal executive office, assets and liabilities of WMI Washington remain unchanged.
A)The big difference here is ALL Safe Harbor assets were not included with WMI and/or WMIH on the ED of March 19, 2012, as Safe Harbor BK Remoter assets are not allowed to be discussed in an active BK case as prove by Justin Nelson 34B entry but slammed down by Judge Walrtath and almost sanctioned
B) When WMI was freed up on the ED of March 19, 2012, and then named WMIH this freed up WMI (or XXX as shown by another) to become a Delaware Statutory Trust that has ALL SAFE HARBOR ASSETS that will be totally private and those investors who signed timely releases at 75/25 will become owners of WMI and/or XXX when this entity issues PRIVATE PLACEMENT SECURITIES to those investors who signed time releases by March of the year 2012
Yes, ... "the Mr Cooper Group" as COOP', ... is a sub of a sub ... "the assets and liabilities of WMI Washington remain unchanged" ... sound familiar ? ...
***THE AFOREMENTIONED IS HUGE AS NOTHING HAS CHANGED OTHER THAN ITS NAME FROM WMI TO WMIH***
***IT APPEARS TO ME THAT WMI (in the name) MAY HAVE BEEN FREED UP TO USE AGAIN MAY WMI HAS BEEN FREED UP TO BECOME THE GRANDFATHER TO WMIH WHICH IS THE EXACT SAME AS WHAT WMI WAS INCLUDING ALL ASSETS, ADDRESS AND OTHER ***
***THEN MAYBE WMI IS A DST THAT ISSUES US THE PRIVATE PLACEMENT SECURITIES AFTER IT TAKES CONTROL OF THE CASH PILE THEN WMIH BECOMES WMI DOWNLINE SUB***
THE FOLLOWING IS THE FILING ON THE MERGER
https://www.sec.gov/Archives/edgar/data/933136/000119312515186101/d924385dex21.htm
"1.1 At the Effective Time (as defined below), WA WMI shall be merged with and into DE WMI, the separate existence of WA WMI shall cease, and DE WMI will be the surviving corporation of the Merger (the “Surviving Corporation”)."
xxx
This is all about BK Remote/Safe Harbor Assets NOT being included or discussed in active BK cases to show a legitimate BK case
HERE IS WHAT A POSTER IS TRYING TO SAY BUT CANNOT - THIS DUE TO OWNERSHIP DECISIONS
OK, so let us parse this out per sentence and/or comma. The following is what a Poster copy/pasted from the filing and hopefully he did not omit or change words.
__________________________________________________
~ BoardDork That's Correct' ... Here's ONE' ("Cowboy Released") a Public Nugget Regarding (XXXX) ... WMIH, the Sub, now trading as COOP, ... where, the Mr Cooper Group IS', ... the sub of a sub of' (XXXX) ... ~
As further described in Item x.xx below, WMI Washington consummated a reincorporation merger (the “Reincorporation”) with and into its wholly-owned subsidiary, WMI Delaware,
pursuant to the terms of an Agreement and Plan of Merger entered into between WMI Washington and WMI Delaware on xxx, xx, xxxx (the “Merger Agreement”), which is attached as Exhibit 2.1 to this Current Report on Form x-x and incorporated herein by reference.
The effective time and date of the Reincorporation was 8:00 p.m. Eastern time on xxx, xx, xxxx (the “Effective Time”).
As a result of the Reincorporation, the registrant is now a Delaware corporation.
***NOW READ VERY CAREFULLY AS ALL WMI DID WAS CHANGE TS NAME***
[ xxx ] In addition, at the Effective Time, WMI Holdings Corp. changed its name to WMIH Corp.
The Reincorporation also resulted in the changes to the directors and officers as set forth in Item x.xx below.
A) On March 19, 2012, the Effective Date, WMIH WAS BORN
B) The ED separated ALL SAFE HARBOR, BK Remote assets other than what was specified and distributed
C) The ED ALSO allowed WMIH to move forward as a stand-alone publicly traded company
D) The very important FACT with the ED is there was an Ownership Change that specified what was owned by those who signed timely releases and backed up by an 8/01/2012 8K filing showing Preferred Equity Interests and Common Equity Interests which own the former Estate at the ratio of 75/25
WMI Delaware will continue to operate the business of WMI Washington as it existed immediately prior to the Reincorporation, and the fiscal year, accounting, location of the principal executive office, assets and liabilities of WMI Washington remain unchanged.
(A The big difference here is ALL Safe Harbor assets were not included with WMI and/or WMIH on the ED of March 19, 2012, as Safe Harbor BK Remoter assets are not allowed to be discussed in an active BK case as prove by Justin Nelson 34B entry but slammed down by Judge Walrtath and almost sanctioned
(B When WMI was freed up on the ED of March 19, 2012, and then named WMIH this freed up WMI (or XXX as shown by another) to become a Delaware Statutory Trust that has ALL SAFE HARBOR ASSETS that will be totally private and those investors who signed timely releases at 75/25 will become owners of WMI and/or XXX when this entity issues PRIVATE PLACEMENT SECURITIES to those investors who signed time releases by March of the year 2012
Yes, ... "the Mr Cooper Group" as COOP', ... is a sub of a sub ... "the assets and liabilities of WMI Washington remain unchanged" ... sound familiar ? ...
***THE AFOREMENTIONED IS HUGE AS NOTHING HAS CHANGED OTHER THAN ITS NAME FROM WMI TO WMIH***
***IT APPEARS TO ME THAT WMI (in the name) MAY HAVE BEEN FREED UP TO USE AGAIN OR REPLACED WITH XXXX however WMI HAS BEEN FREED UP TO BECOME THE GRANDFATHER TO WMIH ***
***THEN MAYBE WMI OR XXXX IS A DST THAT ISSUES US THE PRIVATE PLACEMENT SECURITIES AFTER IT TAKES CONTROL OF THE CASH PILE THEN WMIH or XXXX BECOMES WMI or XXXX DOWNLINE SUB***
...
I believe we see the following next (or 1 & 2 reversed) and I do not believe anything is holding us up other than possibly incorporating Lehman (exchange for their 65B in NOLs) in on the Private Placement of securities that will not be publicly traded.
1) Private Placement of securities issued to those who signed timely releases by 3/2012
2) Coop issues shares to those investors who signed timely releases for past Servicing Rights and ownership but this may be paid to company XXX and/or WMI depending on name used for the DST company
..,
No other way but 75/25 otherwise there would be duplicate ownership of assets
HERE IS WHAT A POSTER IS TRYING TO SAY BUT CANNOT - THIS DUE TO OWNERSHIP DECISIONS
OK, so let us parse this out per sentence and/or comma. The following is what a Poster copy/pasted from the filing and hopefully he did not omit or change words.
__________________________________
~ BoardDork That's Correct' ... Here's ONE' ("Cowboy Released") a Public Nugget Regarding (XXXX) ... WMIH, the Sub, now trading as COOP, ... where, the Mr Cooper Group IS', ... the sub of a sub of' (XXXX) ... ~
As further described in Item x.xx below, WMI Washington consummated a reincorporation merger (the “Reincorporation”) with and into its wholly-owned subsidiary, WMI Delaware,
pursuant to the terms of an Agreement and Plan of Merger entered into between WMI Washington and WMI Delaware on xxx, xx, xxxx (the “Merger Agreement”), which is attached as Exhibit 2.1 to this Current Report on Form x-x and incorporated herein by reference.
The effective time and date of the Reincorporation was 8:00 p.m. Eastern time on xxx, xx, xxxx (the “Effective Time”).
As a result of the Reincorporation, the registrant is now a Delaware corporation.
***NOW READ VERY CAREFULLY AS ALL WMI DID WAS CHANGE TS NAME***
[ xxx ] In addition, at the Effective Time, WMI Holdings Corp. changed its name to WMIH Corp.
The Reincorporation also resulted in the changes to the directors and officers as set forth in Item x.xx below.
A) On March 19, 2012, the Effective Date, WMIH WAS BORN
B) The ED separated ALL SAFE HARBOR, BK Remote assets other than what was specified and distributed
C) The ED ALSO allowed WMIH to move forward as a stand-alone publicly traded company
D) The very important FACT with the ED is there was an Ownership Change that specified what was owned by those who signed timely releases and backed up by an 8/01/2012 8K filing showing Preferred Equity Interests and Common Equity Interests which own the former Estate at the ratio of 75/25
WMI Delaware will continue to operate the business of WMI Washington as it existed immediately prior to the Reincorporation, and the fiscal year, accounting, location of the principal executive office, assets and liabilities of WMI Washington remain unchanged.
(A The big difference here is ALL Safe Harbor assets were not included with WMI and/or WMIH on the ED of March 19, 2012, as Safe Harbor BK Remoter assets are not allowed to be discussed in an active BK case as prove by Justin Nelson 34B entry but slammed down by Judge Walrtath and almost sanctioned
(B When WMI was freed up on the ED of March 19, 2012, and then named WMIH this freed up WMI (or XXX as shown by another) to become a Delaware Statutory Trust that has ALL SAFE HARBOR ASSETS that will be totally private and those investors who signed timely releases at 75/25 will become owners of WMI and/or XXX when this entity issues PRIVATE PLACEMENT SECURITIES to those investors who signed time releases by March of the year 2012
Yes, ... "the Mr Cooper Group" as COOP', ... is a sub of a sub ... "the assets and liabilities of WMI Washington remain unchanged" ... sound familiar ? ...
***THE AFOREMENTIONED IS HUGE AS NOTHING HAS CHANGED OTHER THAN ITS NAME FROM WMI TO WMIH***With Safe Harbor totally and legally separated
***IT APPEARS TO ME THAT WMI (in the name) MAY HAVE BEEN FREED UP TO USE AGAIN TO BECOME THE GRANDFATHER TO WMIH WHICH IS THE EXACT SAME AS WHAT WMI WAS INCLUDING ALL ASSETS, ADDRESS AND OTHER ***
***THEN MAYBE WMI IS A DST THAT ISSUES US THE PRIVATE PLACEMENT SECURITIES AFTER IT TAKES CONTROL OF THE CASH PILE THEN WMIH BECOMES WMI DOWNLINE SUB***
...
newflow, maybe the required signatures for release and money flowing will be tied to the eventual closure of the Receivership which could happen any day. However, I am afraid this could be a moving target unless there was some sort of language that keeps them from perpetual and purposeful delays otherwise, possession becomes nine-tenths of the law.
...
MORE on the 165 BILLION****tanjazielman***GREAT POST***Thank you for your diligence! Tanj IHUB post 416667
Point of interest #1:
10q of the second quarter of 2008 ending on June 30th from Wamu
http://s4.postimg.org/lvh3ai1rh/Mortgageservicing_rights.jpg
What we see here is WaMu was servicing, in the period ending June 30th, 2008...
449.1 Billion in Mortgages (for others!)
Those Mortgage Servicing Rights were valued at Fair Value of 6.175 billion.
JPM claimed on their 10k that they got 165 billion in Private Label Securities from WaMu.
449.1 billion - 165 billion= 284.1 billion in mortgages serviced for others.
Representing roughly (284.1/449.1) X 6.175=3.9 billion in Mortgage Servicing Rights at fair value.
They didn't go to JPM. So they must be at FDIC Receiver. That's roughly 3.9 billion in MSR value sitting at FDIC. Above that JPM needs to pay FDIC 2.2 billion in fair value according to schedule 3.2 from the P&AA (Purchase price of assets).
Point of interest #2:
This is HUGE IMHO.
Remember the PCI loans, which were valued at roughly 81 billion and "acquired" from WaMu by JPM?
JPM got to cherrypick assets, so they "picked" these 81 billion in portfolio mortgage loans of the 233.4 billion in mortgages WaMu had in Portfolio, AND WERE BACKED WITH REAL ESTATE.
Look:
http://s1.postimg.org/fd9820427/wamuvsjpm.jpg
IMO, that leaves 152.4 billion in portfolio mortgages sitting at FDIC receiver.
BUT, here's where it gets interesting,
these 81 billion in purchased credit impaired loans,
pooled and accounted for on a seperate basis by JPM,
are NOT pooled and accounted for seperately without an appearant reason.
In my opinion, these are purchased assets, but credit impaired.
It means that these loans were bought by JPM, but because these were credit impaired, the fair value (and thus the purchase purchase price, according to schedule 3.2 of P&AA) of these had to be determined at a later time.
Just google what purchased credit impaired loans/assets are and you'll understand what I mean.
This includes everything: amortization, repayment, interest payment, foreclosure/liquidation. All the PCI loans were lumped together, because they got acquired in the same fiscal quarter. And all cash or interest payment has to be accounted for in the determination of Fair Value.
NOW the problem is:
Of these 81 billion PCI loans in 2008, there is 46.7 billion still left with a weighted average maturity life of 8 years.
My guesstimation is that fair value of this portfolio can be assessed at a minimum of 8 years in the future.
What is interesting is the roughly 152.4 in assets that didn't go to JPM.
In this case also the 110 billion in mortgages, which were NOT included in the PCI portfolio!
Still at FDIC? What did FDIC do with it? Did they use JPM to service the loans, collect payments, amortizations, interest and what not (but kept the assets off balance at FDIC?).
Are they being sold for fair value? Or are they being sold to WMIH? Sold to Fannie Mae? WHAT IS HAPPENING WITH OUR ASSETS AND WHEN DO WE SEE OUR MONEY?
In my honest and humble opinion:
284 billion in mortgages serviced for others, representing 3.9 billion in mortgage servicing rights at fair value.
AND At least 110 billion in mortgages backed by real estate.
Are sitting OFF BALANCE at FDIC Receiver!
Not to mention:
165 billion in mortgages serviced for others, representing 2.2 billion in mortgage servicing rights at fair value.
AND At least 81 billion in mortgages backed by real estate.
Are sitting at OFF Balance at JPM.
I hope this shines a light, why there was no 3.1a list of assets in the P&AA. A scrivenor's error.... how convenient.
I hope this also shines a light why FDIC does not disclose this kind of numbers in their quarterly balance sheet summary.
I hope this also shines a light where the FDIC Subrogated Claim of roughly 151 billion comes from, after all, ALL the deposits went to JPM so why would there be a deposit claim of 151 billion!!! JPM is too big to fail anyway.
Or this 151 billion claim (liability!) kept in place to leverage and counterbalance 151+ billion in (OFF BALANCE) assets?
ALSO NOTICE THAT THE 151.15 billion in FDIC Subrogated Claims, plus the 13.815 billion in other claims EQUALS TO:
the magical number of...
165 billion!!
https://www.fdic.gov/bank/individual/failed/wamubalsheet.html
...
Link does not work
newflow, here is the exact verbiage from the court but could not find the date range
"THE COURT: Well, let me posit this. The valuation
3 comes back that the reorganized debtor is worth ten billion
4 dollars. Isn't that something I have to take into
5 consideration when I determine who is getting the equity in
6 that entity and whether or not those creditors are receiving
7 more than they're entitled to under the plan? "
...
WMILT was cancelled on 12/31/2021 with Ministerial Derails to be completed on or before 3/31/2022.
Very interesting
It was after mediation which concluded with known results between 12/15/2011 and 3/19/2012
Also the same hearing or close is when Walrath used the phrase, “if the reorg company is worth ten billion isn’t that something I should be concerned with meaning people will get more than they are entitled?”
..,
All JPM is considered is the Master Servicer of what they tried to steal but failed. Not to worry, it will come in time and maybe very soon.
Remember, per the Judge, we are riding the coattails of the multibillionaires who control this travesty of Justice that may soon be reconciled!
…
Here is THE/OUR 165 BILLION I POSTED ABOUT IN the YEAR 2014 REFERENCED IN the YEAR 2022 JPM 10K FILING
***THANKS GOES TO BP POSTER, doo_dilettante***
Looks like this is left over from WMI's securitization activities and it is not consolidated by JPM:
https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2022/4th-quarter/corp-10k-2022.pdf
page 254
As of or for the year ended December 31, (in millions)
Securitized assets
90 days past due
Net liquidation losses / (recoveries)
2022 2021
2022 2021
2022 2021
Securitized loans
Residential mortgage:
Prime/ Alt-A & option ARMs Subprime
Commercial and other
Total loans securitized
$ 37,058 $ 42,522 1,743 10,115 127,037 93,698 $ 165,838 $ 146,335
(a)
$ $
511 212 948
1,671
$ $
1,937 1,609 1,456 5,002
(a) $ $
16 (a) (1) 16
(a) Prior-period amounts have been revised to conform with the current presentation.
254
JPMorgan Chase & Co./2022 Form 10-K
(29) $
50 288
20 $ 320
* JPM WMI Leftovers.jpg
...
Yes, and I have posted the (EIN) Employer Identification Numbers many times proving your point as well.
Remember, a (DST) Delaware Statutory Trust is part of this overall equation and in my view will play a vital role in our future distributions.
…
A TWO PART POST THAT COINCIDES WITH A POTENTIALLY IMPORTANT DISTRIBUTION DATE
Thanks newflow. Former BP poster, Sunshine originally studied and shared the 65-Day Rule with the forums.
PART 1:
Thanks for bringing this up again because POTENTIALLY this is in play until proven correct or time passing proves it wrong.
Q. What is the 65-Day Rule for estates and trusts?
https://bgm-cpa.com/news-insights/the-65-day-rule-post-year-end-tax-planning-for-estates-and-certain-trusts/#:~:text=What%20is%20the%2065%2DDay%20Rule%20for%20estates%20and%20trusts,date%20is%20March%206%2C%202023
Any distribution by an estate or trust within the first 65 days of the tax year can be treated as having been made on the last day of the preceding tax year. This year, that date is March 6, 2023.
PART TWO:
NUMBER 6 of 7 WILL PLAY A VITAL ROLE IN OUR POTENTIAL DISTRIBUTIONS-THE DOTS ARE CONNECTING
The UWs Perform This EXACT Kind of Work-UWs KNOW CLASS 19 is GOLD
Remember, WMI NOT to be confused with WMILT became a (DST) Delaware Statutory Trust around 3/8/2012 then became effective on the (ED) Effective Date of March 19, 2012
https://seracapital.com/1031-exchanges/the-seven-7-deadly-sins-of-delaware-statutory-trusts-dsts/
"The Seven Deadly Sins of Delaware Statutory Trusts (DSTs) Explained
***REALLY, REALLY REALLY LET NUMBER SIX SINK IN NOW***
6. All Cash, Other Than Necessary Reserves, Must Be Distributed To The Co-Investors Or Beneficiaries On A Current Basis According to the IRS regulations, DSTs are allowed to keep cash reserves on hand to cover emergency maintenance and repairs issues.
However, they are required to share the earnings and proceeds realized from the DST to its beneficiaries within the agreed distribution date. (probably redacted) This deadly sin prevents trustee misappropriation of funds and protects beneficiaries’ rights to receive their earnings promptly.
***NOW JUST READ THE FOLLOWING AND LET THIS SINK IN FURTHER***
required to share the earnings and proceeds realized from the DST to its beneficiaries within the agreed distribution date.
...
A TWO PART POST THAT COINCIDES WITH A POTENTIALLY IMPORTANT DATE
Thanks newflow. Former BP poster, Sunshine originally studied and shared the 65-Day Rule with the forums.
PART 1:
Thanks for bringing this up again because POTENTIALLY this is in play until proven correct or time passing proves it wrong.
Q. What is the 65-Day Rule for estates and trusts?
https://bgm-cpa.com/news-insights/the-65-day-rule-post-year-end-tax-planning-for-estates-and-certain-trusts/#:~:text=What%20is%20the%2065%2DDay%20Rule%20for%20estates%20and%20trusts,date%20is%20March%206%2C%202023
Any distribution by an estate or trust within the first 65 days of the tax year can be treated as having been made on the last day of the preceding tax year. This year, that date is March 6, 2023.
PART TWO:
NUMBER 6 of 7 WILL PLAY A VITAL ROLE IN OUR POTENTIAL DISTRIBUTIONS-THE DOTS ARE CONNECTING
The UWs Perform This EXACT Kind of Work-UWs KNOW CLASS 19 is GOLD
Remember, WMI NOT to be confused with WMILT became a (DST) Delaware Statutory Trust around 3/8/2012 then became effective on the (ED) Effective Date of March 19, 2012
https://seracapital.com/1031-exchanges/the-seven-7-deadly-sins-of-delaware-statutory-trusts-dsts/
"The Seven Deadly Sins of Delaware Statutory Trusts (DSTs) Explained
***REALLY, REALLY REALLY LET NUMBER SIX SINK IN NOW***
6. All Cash, Other Than Necessary Reserves, Must Be Distributed To The Co-Investors Or Beneficiaries On A Current Basis According to the IRS regulations, DSTs are allowed to keep cash reserves on hand to cover emergency maintenance and repairs issues.
However, they are required to share the earnings and proceeds realized from the DST to its beneficiaries within the agreed distribution date. (probably redacted) This deadly sin prevents trustee misappropriation of funds and protects beneficiaries’ rights to receive their earnings promptly.
***NOW JUST READ THE FOLLOWING AND LET THIS SINK IN FURTHER***
required to share the earnings and proceeds realized from the DST to its beneficiaries within the agreed distribution date.
xxx
...
Xoom, exactly spot-on correct! I am big on one's actions. The actions of a multitude of Professionals clearly showed there was an invisible elephant in the room they all knew by name, favorite foods, and hobbies...HeeHeeHee...
...
Many will eventually find out that WMI is alive and well but has been comatose until ready to wake up which should be getting very close for all of us to be informed.
I believe we will eventually see a filing from WMI which will remain a non-publicly traded company but will issue private placement securities to those investors who signed timely releases by 3/2012.
...
In this case, it is entirely POSSIBLE until proven right or wrong!
After all, DSTs will play a vital role In our eventual distributions.
.,,
Thanks newflow. Former BP poster, Sunshine originally studied and shared the 65-Day Rule with the forums.
Thanks for bringing this up again because POTENTIALLY this is in play until proven correct or time passing proves it wrong.
Q. What is the 65-Day Rule for estates and trusts?
https://bgm-cpa.com/news-insights/the-65-day-rule-post-year-end-tax-planning-for-estates-and-certain-trusts/#:~:text=What%20is%20the%2065%2DDay%20Rule%20for%20estates%20and%20trusts,date%20is%20March%206%2C%202023
Any distribution by an estate or trust within the first 65 days of the tax year can be treated as having been made on the last day of the preceding tax year. This year, that date is March 6, 2023.
…
From Dmdmd1-OUTSTANDING DUE DILIGENCE WITH FACTS TO BACK-UP END RESULTS OF 101 BILLION PLUS RETURNING:
Quote from CSNY on February 28, 2023, 11:56:46 AM
The $600B figure is entirely reasonable.
WMI was the parent of the issuer of MBS, WMB. Issuers must retain part of their issues and, naturally, they don't retain just the risky (i.e., equity) tranches. WMB would have chosen as much of the best tranches as it possibly could as it had absolute transparency regarding underlying mortgages/assets.
When WMI/WMB headquarters were seized about $75MM (?) in MBS were found. It is impossible for that to have been 100% the retained portion of $2T in securitizations. Some may doubt that WMB placed the MBS in a trust, but I have no doubt of it. It is exactly what I would have done to have a hope of some assets remaining in the event of seizure. Senior executives would have thought likewise as a major portion of their wealth was in WMI stock.
WMI's consolidated SEC filings clearly state that about $135B in MBS was retained as was about $25B in asset-backed securities, yet only $75MM in securitized paper was found in its headquarters. The MBS themselves have generated interest plus interest is owed for 14.5 years of deprivation. When I made my initial calculation in 2014 I worked with a hypothetical $25B in assets and reached a stupendous figure. (This was before I considered Dmdmd1's numbers.) The $25B was what I considered seat cushion change and was an entirely reasonable estimate given the pre-seizure scale of WMI. (I also felt confident WMI money would emerge given JPM 'found' $30B in undervalued WMB assets. (By the way, don't assume those assets weren't part of WMI's beneficial assets. That may turn out to be the case.))
There is no other rational explanation for Bair's pleading before Congress other than WMB had assets she couldn't reach without control of WMI, and I believe that will be revealed.
_____________________________________________
FROM Dmdmd1:
I agree with the statement above in red font:
WMB would have chosen as much of the best tranches as it possibly could as it had absolute transparency regarding underlying mortgages/assets
Per my previous post with respect to David Beck’s testimony:
https://www.boardpost.net/forum/index.php?topic=12150.msg225890#msg225890
Excerpt:
IMO...My conclusions as of August 22, 2018:
1) WMI Escrow Marker Holders are the rightful owners of beneficial interests to MBS Trusts that were created by WMI Subsidiaries because WMI abandoned the WMB stock and it was deemed as worthless. Thus all recoveries of assets revert back to WMI/WMILT/WMI Escrow Marker Holders.
2) Per David Beck's April 13, 2010 congressional subcommittee testimony,
WMI retained more than just residual/equity interests in MBS Trusts.
My previous posts regarding David Beck's testimony is below:
https://www.boardpost.net/forum/index.php?topic=12993.msg225429#msg225429
"Per David Beck, Executive Vice President in charge of WaMu's Capital Markets Division, stated on page 118 to 119 (PDF page 124 to 125) that WMI (WaMu, Long Beach) retained interests in the loan pools that were securitized. The following is the full text:
https://www.hsgac.senate.gov/imo/media/doc/PSI%20REPORT%20-%20Wall%20Street%20&%20the%20Financial%20Crisis-Anatomy%20of%20a%20Financial%20Collapse%20(FINAL%205-10-11).pdf
"At its peak, right before the collapse of the subprime securitization market, WCC had over 200 employees and offices in Seattle, New York, Los Angeles, and Chicago. The majority of WCC employees were based in New York.432 WCC was headed by Tim Maimone, WCC President, who reported to David Beck, Executive Vice President in charge of WaMu’s Capital Markets Division. Mr. Beck reported to the President of WaMu’s Home Loans Division, David Schneider.433
At the Subcommittee hearing on April 13, 2010, Mr. Beck explained the role of WCC in WaMu and Long Beach securitizations as follows:
“WaMu Capital Corp. acted as an underwriter of securitization transactions generally involving Washington Mutual Mortgage Securities Corp. or WaMu Asset Acceptance Corp. Generally, one of the two entities would sell loans into a securitization trust in exchange for securities backed by the loans in question, and WaMu Capital Corp. would then underwrite the securities consistent with industry standards. As an underwriter, WaMu Capital Corp. sold mortgage-backed securities to a wide variety of institutional investors.434
WCC sold WaMu and Long Beach loans and RMBS securities to insurance companies, pension funds, hedge funds, other banks, and investment banks.435
It also sold WaMu loans to Fannie Mae and Freddie Mac. WCC personnel marketed WaMu and Long Beach loans both in the United States and abroad.
Before WCC was able to act as a sole underwriter, WaMu and Long Beach worked with a variety of investment banks to arrange, underwrite, and sell its RMBS securitizations, including Bank of America, Credit Suisse, Deutsche Bank, Goldman Sachs, Lehman Brothers, Merrill Lynch, Royal Bank of Scotland, and UBS. To securitize its loans, WaMu typically assembled and sold a pool of loans to a qualifying special-purpose entity (QSPE) that it established for that purpose, typically a trust.436 The QSPE then issued RMBS securities secured by future cash flows from the loan pool. Next, the QSPE – working with WCC and usually an investment bank – sold the RMBS securities to investors, and used the sale proceeds to repay WaMu for the cost of the loan pool. Washington Mutual Inc. generally retained the right to service the loans. WaMu or Long Beach might also retain a senior, subordinated, residual, or other interest in the loan pool.
_____________________________
IMO...according to David Beck's testimony in the Subcommittee hearing on April 13, 2010, WMI (the parent of WaMu and Long Beach) retained not only residual tranches in MBS Trusts that were securitized, but they also might have retained Senior, and subordinated tranches."
___________
Per Kerry Killinger’s YouTube interview as of September 2022:
https://www.boardpost.net/forum/index.php?topic=18655.msg334126#msg334126
“ 45:47– Reason to buying Long Beach Mortgage
He regrets buying Long Beach Mortgage but only $300 million in assets while WMI had total $200 billion in assets at the time
WMI wanted to change sub prime market industry because they were charging too much interest on loans”
______________
IMO…my conclusions as of March 02, 2023 @ 0903 CST:
1) Long Beach Mortgage was a sub-prime lending machine which produced the lion’s share of the pool of mortgages that would go into MBS Trusts.
2) Thus Long Beach Mortgage was a money making machine for WMI.
3) Kerry Killinger might publicly denounce WMI’s purchase of Long Beach Mortgage, but it made a lot of money for them.
4) When a subsidiary of WMB (i.e. Long Beach Mortgage) sponsors the creation of MBS Trusts, it retains beneficial interests in the MBS Trust.
5) Since WMI is the parent of WMB, WMI became the ultimate beneficiary to the beneficial interests created by WMB subsidiaries (such as Long Beach Mortgage).
6) The beneficial interests were not only in the residual tranches of the MBS Trusts, but they were also in the Senior and subordinate tranches.
7) just prior to the seizure, any beneficial interests in MBS Trusts ($101.9 billion) were considered as assets owned by WMI, thus deemed Non-banking, bankruptcy remote assets.
8 ) So yes, WMI is the ultimate owner of the beneficial interest of bankruptcy remote MBS Trusts ($101.9 billion, which is worth $625 billion (per “source”) as of May 20, 2021). Today’s current value of the beneficial interest is, IMO, between $820 billion to $826 billion (based on the “source’s” numbers)
9) Even if seizure and bankruptcy ensued, which it did, Bonderman & Killinger knew that the $101.9 billion in beneficial interests were protected from the bankruptcy court.
...
Per Judge Walrath's following words of wisdom. You will be riding the coattails of multibillionaires so your worries may not matter.
So there is little we can do other than try and connect the dots, let time pass, and keep current with any potential filings.
...
$27, the 15 year statute of limitations makes a lot of sense and is something the Players would be very concerned about, so I am curious why you do NOT thinks this is the reason. Thanks for sharing.
My thoughts on the delays are the following. Concerning the Players involved who can NEVER make enough money even if they had all the money in the world, it is just not enough. However there are two actions that are more important than family, friends, and so on and this follows. There are very few people that are in this league in comparison.
1) Making huge amounts of money and there is NEVER enough
2) Legally evading taxes and/or controlling the very minimum they do pay
***Remember, very, very few people are in this league but we have some***
3) Family, friends, and so on are after the first two
So in my view the real reason before the Players move this forward is they are waiting on Lehman to exit bk then WaMu/COOP/WMI will integrate Lehman for their 65B in NOLs added to WaMu almost six billion for a total of 71 billion in NOLs
ONLY TIME PASSING AND FILINGS WILL SHOW US THE WAY FORWARD
...
Stox, the main action is as Judge Walrath said, "you will be riding the very coattails of the multibillionaires that are set to receive whatever there is to receive".
Remember Judge Walrath posited ten billion for reason and that is to allow class 22 to participate and ensure there is something for them otherwise all ten billion would have gone to the Ptrferred so 75/25 to the end and everyone plays
...
WMI PROOF OF EXISTENCE-NOTICE WMI (EIN) Employer Identification Number THROUGH YEAR 2021-WMI I.R.S. IDENTIFICATION NUMBER: 91-1653725
EIN Format The EIN system was created by the IRS in 1974 by Treasury Decision (TD) 7306, 39 Fed. Reg. 9946. The authority for EINs is derived from 26 USC 6011(b), requiring taxpayer identification for the purpose of payment of employment taxes. The provision was first enacted as part of the revision of the Tax Code in 1954. This authority was broadened in 1961 by 26 USC 6109. An EIN is usually written in form 00-0000000 whereas a Social Security Number is usually written in the form 000-00-0000 in order to differentiate between the two. There are EIN Decoders on the web that can identify in what state the company registered the EIN.[3][4] A business needs an EIN in order to pay employees and to file business tax returns. To be considered a Partnership, LLC, Corporation, S Corporation, Non-profit, etc. a business must obtain an EIN. Those businesses that do not are considered proprietorships and the Owner / Operator SSN is used on any tax documents. Also, financial institutions such as banks, credit unions, and brokerage houses will not open an account for a corporation without an EIN. Since all corporations - including ones with no income - must file at least a federal income tax return, a corporation operating or incorporated in the United States generally must obtain an EIN anyway either before or after being issued its charter.
EIN Expiration/Cancellation EINs do not expire. Once an EIN has been issued to an entity, it will not be reissued. An EIN is for life, and it will stay with your business unless you cancel it or change it for specific reasons.[7] There are many instances where you might need to change your EIN number, including purchasing or becoming a subsidiary of another business. You may also need to change your EIN if there are changes to the ownership structure or if you are a sole proprietorship subject to bankruptcy proceedings. If you change your location or business name, remember that you don't need to get a new EIN, but you will still have to report these changes to the IRS. You can report a change of business address with an IRS Form 8822 B. If you are changing your business structure, you can file an IRS Form 8832. A new EIN will automatically replace your old EIN, so you don't have to cancel/deactivate it. Technically, you don't really cancel an EIN. What happens is that you close your account with the IRS; you might do this if you closed your business or you never got started. But you can 'reopen' this account along with its EIN. The same EIN number is never given to two business entities. If you open a separate business enterprise, then you will need a unique EIN unless they are merged together into one distinct legal entity.
History September 25,1889 Washington National Building Loan and Investment Association June 25,1908 Washington Savings and Loan Association September 12,1917 It was operating under the name WaMu Savings Bank 1983 Demutualized and stock in the capital stock savings bank was first offered for sale on March 11, 1983 and trade on Nasdaq under
WAMU. https://en.wikipedia.org/wiki/Washington_Mutual
July 22, 1994 Washington Mutual Savings Bank EIN: 91-0461640 Expired/Cancelled 22nd day of July,
1994 by and among Washington Mutual Savings Bank, a Washington stock savings bank ("WMSB"), Washington Mutual Federal Savings Bank, a federal savings association ("NFSB"), OLYMPUS CAPITAL CORPORATION, a Utah corporation ("Olympus") and OLYMPUS BANK, A FEDERAL SAVINGS BANK, a federal savings bank ("Olympus Bank").
https://sec.report/Document/0000912057-94-002554/0000912057-94-002554.txt
August 10, 1994
Acquisition:
Form SC 13D Olympus Capital Corp /ut/
SC 13D - General statement of acquisition of beneficial ownership
SEC.report OLYMPUS CAPITAL CORP /UT/ Form SC 13D (Subject)
SEC.report WASHINGTON MUTUAL SAVINGS BANK Form SC 13D (Filed by)
https://sec.report/Document/0000912057-94-002554/0000912057-94-002554.txt
FISCAL YEAR ENDED DECEMBER 31, 1996
WASHINGTON MUTUAL, INC.
I.R.S. IDENTIFICATION NUMBER: 91-1653725 Active/Current
http://getfilings.com/o0000891020-97-000305.html
October 23, 1997 WASHINGTON MUTUAL INC EIN: 911653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/0000927087-97-000300.txt
FISCAL YEAR ENDED DECEMBER 31,1999
WASHINGTON MUTUAL, INC. I.R.S. EIN: 91-1653725 Active/Current
EXHIBIT 21
WASHINGTON MUTUAL, INC.
SUBSIDIARY LISTING WASHINGTON MUTUAL BANK
Chartered under the laws of the state of Washington
DBA: Washington Mutual Bank WM Business Bank Western Bank NEW AMERICAN CAPITAL, INC., a Delaware corporation WASHINGTON MUTUAL BANK, FA DBA:
Washington Mutual Bank, FA Alta Residential Mortgage, Inc. ARMT, Inc.
Federally-chartered under the laws of the United States
https://www.snl.com/IRWeblinkx/ShowFile.aspx?
KeyFile=394590190&Output=HTML&Format=SGML
FISCAL YEAR ENDED DECEMBER 31, 2000
WASHINGTON MUTUAL BANK, FA FEDERAL CHARTER
EIN: 68-0172274 Expired/Cancelled
https://www.sec.gov/Archives/edgar/data/1058259/000093313601000007/0000933136-01-000007-0001.txt
December 4, 2000
Washington Mutual Savings Bank
EIN: 91-0461640 Expired/Cancelled
https://sec.report/CIK/0000928062
FISCAL YEAR ENDED DECEMBER 31, 2004
WASHINGTON MUTUAL, INC.
I.R.S. IDENTIFICATION NUMBER: 91-1653725 Active/Current
http://getfilings.com/o0001047469-05-006351.html
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005
WASHINGTON MUTUAL, INC.
EIN: 91-1653725 Active/Current
http://media.corporate-ir.net/media_files/IROL/10/101159/reports/2005form10KA.pdf
FISCAL YEAR ENDED DECEMBER 31, 2006
WASHINGTON MUTUAL, INC.
I.R.S. IDENTIFICATION NUMBER: 91-1653725 Active/Current
https://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2007-03-01%20Washington%20Mutual%202006%2010-K.pdf
May 2, 2008
WASHINGTON MUTUAL, INC.
EIN: 91-1653725 Active/Current
http://www.snl.com/Cache/IRCache/c2d115e11-c5b9-9a28-43ae-105722621b7e.html
January 12, 2012
Section 5: EX-99.4 (EXHIBIT 25.1 - FORM T-1)
WASHINGTON MUTUAL, INC.
EIN: 91-1653725 Active/Current
https://www.snl.com/Cache/IRCache/cf3f7912f-5e05-eeea-6d81-0ab19e14a2d5.html
March 19, 2012
WMI HOLDINGS CORP.
EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000090951812000116/mm03-1812_8a12g.htm
Fiscal year ended December 31, 2017
WMIH Corp.
EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000156459018004269/wmih-10k_20171231.htm
FILED AS OF DATE: January 8, 2018
COMPANY CONFORMED NAME: WMIH CORP
.
IRS NUMBER: 91-1653725 Active/Current
FORMER CONFORMED NAME:WMI HOLDINGS CORP.
DATE OF NAME CHANGE: 2012 03 20
FORMER COMPANY: FORMER CONFORMED NAME: WASHINGTON MUTUAL, INC
DATE OF NAME CHANGE: 2006 10 17
FORMER COMPANY:
FORMER CONFORMED NAME: WASHINGTON MUTUAL INC
DATE OF NAME CHANGE: 1994 11 23
https://www.sec.gov/Archives/edgar/data/933136/000119312518233673/0001193125-18-233673.txt
February 12, 2018
WMIH Corp.
EIN: 91-1653725 Active/Current
AGREEMENT AND PLAN OF MERGER among NATIONSTAR MORTGAGE HOLDINGS INC.,WMIH CORP., And WAND MERGER CORPORATION Dated as of February 12, 2018
https://content.edgar-online.com/ExternalLink/EDGAR/0001193125-18-045940.html?hash=e431640d6567aec1c5fee10e7978f7b9b038cff1f4073e88311e0f5881984618&dest=D539539DEX21_HTM#D539539DEX21_HTM
June 30, 2018
WMIH Corp.
EIN: 91-1653725 Active/Current
https://fintel.io/doc/sec-wmih-wmih-10q-2018-july-27-17948
WMIH Corp. (WMIH) is a corporation duly organized and existing under the laws of the State of Delaware. On May 11, 2015, WMIH merged with its parent corporation, WMI Holdings Corp., a Washington corporation (“WMIHC”), with WMIH as the surviving corporation in the merger (the “Merger”). The Merger occurred as part of the reincorporation of WMIHC from the State of Washington to the State of Delaware effective May 11, 2015 (the “Reincorporation Date”).
July 16, 2018
WMIH Corp. EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000119312518218772/d524787d8k.htm
July 31, 2018
Nationstar Mortgage Holdings Inc.,(WMIH Corp as acquiring entity)
EIN: 45-2156869 Expired/Cancelled
https://s1.q4cdn.com/275823140/files/doc_downloads/irw/IRS_forms_8937/WMIH-Merger-with-Nationstar-Mortgage.pdf
July 31, 2018
WMIH Corp.
EIN: 91-1653725 Active/Current “NO OWNERSHIP CHANGE OCCURRED”
Following the close of the transaction, the combined company will continue to trade on NASDAQ under the ticker symbol “WMIH” in the near term. As a result of the merger, shares of Nationstar common stock will no longer be listed for trading on the New York Stock Exchange. WMIH expects to change its name to “Mr. Cooper Group Inc.” and its ticker symbol to “COOP”, and the combined company is evaluating other administrative and corporate actions, including a reverse stock split, which would require a shareholder vote. WMIH will provide updates on any such actions when appropriate.
https://www.otcmarkets.com/filing/html?id=12885680&guid=Ic_EUaQlROaSfth
August 7, 2018
WMIH Corp.
EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/0000933136/000119312518241283/d534508d8k.htm
August 29, 2018
WMIH Corp. (the “Registrant”)
EIN: 91-1653725 Active/Current
Registrant intends to file a new Registration Statement on Form S-3ASR
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000933136/3e63b5d0-6dd5-47da-937c-56832868840e.pdf
September 14, 2018
WMIH CORP. LAST DOCUMENT USING WMIH CORP AS NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER
EIN: 91-1653725 Active/Current
SCHEDULE 14A 29 Pages
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000933136/5d19ed93-cf11-4303-8685-a4678cbf3063.pdf
October 10, 2018 (October 9, 2018)
Mr. Cooper Group Inc. FIRST DOCUMENT USING MR.COOPER GROUP INC. AS NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER
EIN: 91-1653725 Active/Current
WMIH Corp. (Former Name or Former Address, if Changed Since Last Report) 51 Pages
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000933136/068bb841-d79b-41a5-b069-563a2a31900a.pdf
October 10, 2018 (October 9, 2018)
Mr. Cooper Group Inc.
EIN: 91-1653725 Active/Current
WMIH Corp. (Former Name or Former Address, if Changed Since Last Report) 4 Pages
https://www.sec.gov/Archives/edgar/data/933136/000115752318002024/a51880658.htm
FISCAL YEAR ENDED DECEMBER 31, 2019
Mr. Cooper Group Inc.
EIN: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000093313620000005/mrcooper1231201910-k.htm
FISCAL YEAR ENDED DECEMBER 31, 2020
Mr. Cooper Group Inc.
I.R.S. IDENTIFICATION NUMBER: 91-1653725 Active/Current
https://www.sec.gov/Archives/edgar/data/933136/000093313621000005/coop-20201231.htm#i305b832f46274d4895d48ffa77d825ef_7
July 6, 2021 (July 1, 2021)
Mr. Cooper Group Inc.
EIN: 91-1653725 Active/Current
https://fintel.io/doc/sec-mr-cooper-group-inc-933136-8k-2021-july-06-18814-3750
...
POTENTIAL PROCESS LEADING ULTIMATELY TO DISTRIBUTIONS TO TIMELY SIGNED (By 3/2012) RELEASORS
PAY ATTENTION TO AMENDED POR 7 SIGNED off BY THE COURT PLUS RECOGNIZE (DST) DELAWARE STATUTORY TRUST TRUSTEE WILLIAM C. KOSTUROS and THE ROLE HE and the DST WILL PLAY which follows
DST = Distributions To Beneficiary Trustee Recipients = Timely Signed Releasors Then to Brokerage Accounts and DO NOT Forget About DST Trustee Kosturos All In My View
The following is from Amended POR 7 signed by the court on 2/23/2012
set forth in the Confirmation Order, the members of the Trust Advisory Board hereby designate William C. Kosturos in connection with the applicable provisions of the Delaware Statutory Trust Act, 12 Del. C. § 3801 et seq.
____________________________________
WaMu UPDATED BK Remote & Distribution Process-Many Filings Lead To This Conclusion
Keep in mind, I have NO DOUBTS the (DST) Delaware Statutory Trust plays a vital role as investors who signed timely releases by 3/2012 will and are Beneficial Trust Recipients under the DST and are set to receive distributions for years to come.
__________________________________
thanks go to Sunshine for the following
I think we ALL get stuck with "nomenclature" and co-mingle events because of our intense interest and perhaps no prior experience and knowledge to boot ( myself included).
So, WMI filed BK and the COURT recognized a list of assets that were presented and fought over litigations and a plan to exit BK was then approved. It consisted of 2 parts by the Court - (1) SPIN out WMMRC & WMIIC via WMIH and (2) LIQUIDATE & DISTRIBUTE the remaining COURT recognized BK assets according to the LT waterfalls.
The 350 closure pertains to completion of (2).
It is clear, WMI liquidating trust was established per BK law to facilitate the completion of (2). However, following closure, it appears that WMI surfaced/re-surfaced as a TRUST based on the PLR request letter.
Due to complexity of WMI, vis-à-vis, the BK-REMOTE assets ( for those that believe), WMI would exist in some form after the 350 closure. We saw in the filings repeatedly stated WMI Liquidating Trust (the “Trust”), as successor to Washington Mutual, Inc. (“WMI”) and WMI Investment Corp. (together with WMI, the “Reorganized Debtors” implying ( at least to me) that the "Trust" has succeeded WMI, Inc legally going forward in 2 parts - (1) WMI and (2) WMIIC together with WMI, the reorganized Debtors = WMIH).
So, one can think through HOW the "trust" has to navigate through the complexity in order to get the BK-REMOTE assets back to the beneficial owners of the "Trust".
Below is a plausible pathway that I can envision in HOW the various assets are ultimately collected, massaged into its FINAL form before returning to us, the released WMI equities holders:
BK- Remote MBS assets WaMu LLC
---> ----> WMI "TRUST" ----> Beneficiaries of WMI "TRUST"
Return of WMB excess assets* WaMu Holdings LLC
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* Based on R Inception A/L net of current R working A/L
I incorporated the 2 WaMu LLCs for the purpose of converting CASH & liquidating the UNLIQUIDATED MBS assets into the appropriate equities form - a task that can ONLY be conducted in a LLC escaping the DST set restrictions - before landing in the WMI "trust" just prior to distribution.
What are keys to this pathway:
(1) For Tax minimization purpose, our $Recovery will NOT be in CASH only.
(2) Separate BK-Remote assets and WMB excess assets into 2 separate "Catch" tanks to show transparency if challenged
(3) LLCs are the CONVERTING units to transform CASH & unliquidated MBS assets into final 'DISTRIBUTABLE" form
(4) WMI "TRUST" transfers CASH and EQUITIES “in-kind” (meaning without being sold. aka "In Kind Distribution") directly to the Trust beneficiaries' brokerage accounts.
...
Stox, I wish we knew something to confirm what we have but what we want to know are in some of the over 800 court-sealed redacted docs.
All we can do is try and connect dots from what we have learned and actual filings.
Unfortunately, only time passing and documents will show us the way forward.
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Then if the prospectuses are in place and not cancelled there is an option to exchange into common, so preferred would have ownership of the Estate either way.
Yes, the Ownership Change on 3/19/2012 change the Estate Ownership period!
Ron, you cannot cherry pick history and have your cake and eat it too…you are so funny!
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