Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Mr. Simpson, Thank you for the latest information.
Mr. Simpson,
I like your message. However, I have a question for you. I thought the May 17 NSM vote has nothing to do with the merger just some other routine stuff. Can you provide a link?
Beginning of what? What does the link have to do with us?
I also owned Ps, Ks, Qs, and PIERS. I have absolutely no regrets buying PIERS. For some reason there are people on this board who keep bringing up the point that PIERS owners did not get Escrows. So what, PIERS paid well and Escrows haven't amounted to nothing.
Jerry, This has been on WMIH website for eons.....
"WMIH is the direct parent of WM Mortgage Reinsurance Company, Inc., a Hawaii corporation (“WMMRC”), and WMI Investment Corp., a Delaware corporation."
WMIIC has nothing to do with WMILT -- it was subsidiary of WMIH.
There is an Apple and Orange issue.....
for some reason LG/AZ keep confusing WMIH and WMILT when talking about escrows. WMIH has no responsibility to Escrows only WMILT does.
Another COLD Hard Fact..
PIERS got paid. Escrow shares haven't amounted to anything.
Right and the only reason we're not being shown the full picture, especially considering Escrow shares cannot be bought or sold, that I can postulate is that the assets are connected with WMIH and that connection is MNPI! Why else would WMIH take five years to have an Merger? Add to that, the Merger is announced shortly after the DB settlement. I believe that is why WMIH is the tell. And if you look at all the mortgage related people and activity involved with WMIH, and all the RMBS, CMBS, and ABS, like Ihub member CB something said, it becomes abundantly clear the assets are there.
Assets are there, but not for WMIH or Escrow holders.
It has taken 5 years for a merger because -- before KKR entered the picture no one took WMIH seriously, after KKR came a deal was close but eventually failed, and finally now we have a deal which took an year to negotiate and succeeded only after KKR got a major concession on the Series B conversion price. If assets are there for WMIH, why would WMIH lower the conversion price for KKR, it should have raised it?
Lot of BS theories floating around. People were saying WMIH hasn't made a deal because they are waiting for billions to come back. Even when WMIH lost $11 million in a failed deal they stuck with this theory -- never mind that it would mean that they stole $11 million. Now that NSM deal details are coming out we see that they have been in negotiations since Feb. 2017 -- BOD were not waiting for the DBNTC/JPM/FDIC settlement to close or any such thing.
Thank you maintaining this list. You need to post it more frequently.
WMIH already paid WMI-LT what they owed them. The first and second lien notes that were distributed and fully redeemed by WMIH. WMIH doesn't owe anything to releasing holders. If it did do you think NSM would be foolish enough to make a deal with WMIH?
If you own WMIH shares, whether you bought them yesterday or you received them when you released in 2012, they are the same. Releasing holders are not going to get any special treatment from WMIH.
Majority of the messages posted are absurd. Why does this one bother you so much?
The LT also paid a large part of PIERS in form of first and second lien notes which were later recalled by WMIH as they had issued the notes.
Why would 2.5% go to WMIH? That was being paid from recovery by Litigation Trust and has nothing to do with Liquidation Trust or anything else.
http://www.globic.com/wamurmbssettlement/pdfs/DB%20WaMu%20Procedures%20for%20Dist.%20of%20Settlement%20Proceeds%202.14.18.pdf
For those Trusts in which distributions are administered by the Trustee, the Trustee currently anticipates that distributions of the Allocable Shares will be made in the February 2018 distribution period. With respect to certain of the Trusts for which the Servicer or Master Servicer calculates monthly distributions to Certificateholders, the Trustee has been informed by the Servicer or Master Servicer, as applicable, that such calculations are anticipated to be completed in time to enable distributions of the Allocable Shares for such trusts to be made in the February 2018 distribution period. Certificateholders are advised that distributions of the Allocable Shares as to any particular Trust may not occur in the February 2018 distribution period where the Trustee, the Servicer or the Master Servicer, as applicable, encounter issues in implementation such distributions under the relevant Governing Documents, or otherwise determine that they are unable to determine the appropriate treatment of the Allocable Shares in that period. Distributions of the Received Funds will be included with the monthly distributions
on the WAMU Securities; accordingly, distributions to holders of particular WAMU Securities will be made to holders as of the record dates for such WAMU Securities for the month or months in which such distributions are made.
It is wrapped up.
Fortress has already agreed and they own 62% of all NSM shares.
NOLs won't be affected.
We are involved. We will be voting to approve the merger and the only symbol under which stock will trade is WMIH.
One has to consider the reason for RS. If WMIH were to do a RS to avoid delisting from NASDAQ, I agree it won't work. However, if the only reason for RS is to move from category with listing minimum of $1 to category with minimum of $4, I don't see why that is a negative.
If they apply R/S to only current shares 200ml, then I doubt they will ever reach $4.00.
If R/S applies to all (current holders of 200ml shares, KKR, NSM etc.) uniformly, it is fine with me.
I was not implying that it is negative for us. It may be negative for the institutions who sold. Moreover, as some leave, new ones are there to take their place especially after the recent announcement.
They dumped their shares once they found out the changes to Series B and the new conversion price of $1.35 for KKR. Soon KKR will own 444 million shares and NSM also will own a large number of shares (their effective share price appears to be around $1.40).
Most of these institutions paid over $2.00 to purchase their shares. So they have given up and are moving on.
There is zero chance WMIH will get anything out of this.
When tax refund distributions were negotiated who was involved -- WMIH, JPM, and FDIC. WMIH got a small slice of the tax refunds.
Now in the tri-party settlement who was involved -- DB, JPM, and FDIC. Without WMIH even being involved, I doubt they will get anything.
Like your thinking. More importantly, believe that a lot more is going happen and NSM is just a start.
Will close in second half of 2018. Read the press release.
Is is $18 or 12.7793 WMIH shares. Which gives you roughly $1.40 as the price of a WMIH share. For now that is what we know but once proxy materials are filed, we will know more..
He doesn't own a single share and is not losing anything.
Kravis doesn't own 71 million shares. The total number of WMIH shares is still 206 million.
LG,
I agree. In the past WMILT has always announced in advance of any payout.
More likely than not a reverse split is coming as the information you posted indicates.
LG,
We have been in a holding pattern at 10,000 feet for so many years. Will there ever be a landing in our lifetimes?
Announcements are posted here:
http://www.wmitrust.com/WMITrust
They announce distributions or lack of. They announce mailing of statements etc.
They have never mailed anything without first announcing that they would be mailing.
I didn't say the number 135 is wrong, it is meaningless. There are only 15-18 serious institutional investors. The rest own so few shares that many retail holders own share numbers that far exceed theirs.
I agree with you. I am also expecting that this money will be distributed to escrow holders.
Of course they have been set aside. But if employee claims are disallowed, won't the escrow holders get that money? minus what A&M and Weil will get.
Of course I checked that before positing. How about you count the shares held by top 15 investors and tell me where I am wrong. Or take a look at investors that own less than 100 shares.
Rewriting history -- Obama didn't take down this bank, it was Bush.
Distributions for employee claims if approved and leftovers to escrow holders. Fees to A&M and Weil.