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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
======================================
* 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.
…
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!
…
The following SHOULD tell an investor all they need to know. Effective with the approval of Amended POR 7 on February 23, 2012 then included in the filing on the (ED) Effective Date of March 19, 2012, all preferred and common shares and their prospectuses were cancelled.
The following took their place once the Ownership Change also officially happened on 3/19/2012 and signed by the court.
The following own the former WaMu Estate with the 75/25 ownership the court signed off on and reflected in Tranche Six that includes BOTH classes of Equity.
1) Preferred Equity Interests
2) Common Equity Interests
The aforementioned backed up by an August 01, 2012 8K filing stating the same
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newflow, yes, exactly. Poster Split T has ordered and received copies of Thackerway over the recent years.
Through his research he, Dmdmd1, myself, and others agree that Thackerway will play a vital role in our eventual distributions while discussing for years that a DST is pivotal to our distributions so this combination was extremely powerful when the Players planned all of this out many, many years ago.
...
stox, yes, you are correct. However, since this agreement would have been agreed to around February to March of the year 2012, they could have easily said in the agreement the distributions would start the year following the completion of the ten-year term.
Then this would tie in with historic dates that would have been known when writing this agreement. Remember, whoever controls the monies, distributions are ALWAYS later rather than sooner. At least this is what I have always witnessed.
An example was the 65B DB/JPM/FDIC settlement that was in the summer of the year 2017 but disbursements did not happen until the year 2018 to early 2019.
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HISTORIC WaMu Dates - One Happened Recently - Could This Be A SWEET-SPOT FOR A DST DISTRIBUTION TIMEFRAME - MONIES TIED UP IN TEN-YEAR BONDS?
Obviously, the aforementioned WAS A QUESTION
1) February 23, 2012...The Court Approved AMENDED POR 7
2) March 19, 2012...The (ED) Effective Date Signed By The Court
...
Dmdmd1 Shares Excellent Research With Facts, Links To Back Up Research
I (LG) have contended for many years a DST will play a vital role in our eventual distributions.
Quote from: CSNY on July 25, 2014, 05:20:37 PM
This is better for viewing: http://www.sec.gov/Archives/edgar/data/933136/000104746908002083/a2182890zex-21.htm
CSNY,
What is the date of this document (list of WMI direct and indirect subsidiaries)?
IMO…I believe it was filed prior to 02-09-2007 because in the SEC document it claims that Thackeray Holdings Corp. was incorporated in Washington state. (Per screenshot #2)
Screenshot #3 demonstrates that Thackeray Holdings Corp. was incorporated in Delaware as of 02-09-2007
https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx
Screenshots #4 and #5 demonstrates that Thackeray Funding Corp. & Thackeray Funding Partners were incorporated into Delaware on 12-01-2006 and 03-23-2007 respectively.
IMO…my conclusions as of February 25, 2023 @ 1318 CST:
1) Thackeray Holdings Corp. (a non-banking subsidiary of WMI) was initially incorporated in Washington state prior to 2007.
2) Then on 02-09-2007 Thackeray Holding Corp. was incorporated in Delaware.
3) per the Delaware website, the three Corporate Subsidiaries (Thackeray Holdings Corp., Thackeray Funding Corp., and Thackeray Funding Partners) are all currently operating in the state of Delaware.
4) Since the three above entities are WMI non-banking subsidiaries, they are all bankruptcy remote.
5) I contend that Thackeray Holdings Corp. is one of the many DSTs that WMI used to transfer WMI owned assets that were bankruptcy remote (i.e. $101.9 billion beneficial interests in MBS Trusts created by WMI subsidiaries, real estate, CDS, etc.)
6) I also contend that WMI legacy Class 19 & 22 shareholders will benefit from these assets after the WMI recoveries start. I don’t know exactly when the WMI recoveries will start but my WAG is within the next two quarters.
...
CWG, excellent summation and door-on correct!
CWG, you said the following.
So, Ron. plan 6 ended at Class 16, nothing for preferred or commons.
Plan 7 was crafted to get equity a seat at the table.
It could have stopped with Class 19 and Class 22 would get nothing due to the APR.
Now according to you the APR was removed by the Court because Class 19 was “safe and protected” that they would be paid in full.
That is not how the Absolute Priority Rule actually works.
If there was enough money to satisfy Class19, then the remainder would move to the next class in line. THAT is how it works. That is why Class 1 got paid in full, 2-15 got paid in full, 16 (PIERS) got paid but had to reimburse a previous class for lost interest.(APR in effect)
Classes 19 and 22 (equity) received stock in WMIH 75/25 only because the Court removed the APR as required by Plan 7.
If the APR had still been in effect, as in all the previous classes. Class 22 would have been cancelled and Class 19 would have received all of the stock in WMIH.
Just remember Kmart.
Equity cancelled due to the APR and after the dust had settled, suddenly value was “discovered” but commons got screwed.
This happens almost every time, just not this time.
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HISTORIC WaMu Dates - One Happened Yesterday - Could This Be A SWEET-SPOT FOR A DST DISTRIBUTION TIMEFRAME - MONIES TIED UP IN TEN-YEAR BONDS?
Obviously, the aforementioned WAS A QUESTION
1) February 23, 2012...The Court Approved AMENDED POR 7
2) March 19, 2012...The (ED) Effective Date Signed By The Court
...
Goodie, NO, this is NOT odd because it is the PROCESS but what is ODD is ONLY one person paid with an original contrived story that has changed at LEAST twice...go with an experienced trader AND common sense.
...
BBANBOB, you said the following:
One can't have their cake and eat it and the other guys as well
LOGIC and COMMON SENSE USE THEM THEY WORK
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Absolute Priority Rule in Delaware is God-like and ALMOST impossible to change however in this case the lawyers were able to find a precedent and then convinced the court to allow them to discard the APR...again ALMOST impossible.
It appears some investors want to discard the precedent that was used to cancel the APR to fit their investment style but that will never work as you said, that horse is out of the barn now processed at the glue factory
Sorry, Ron but will never work...75/25 which includes any and all Safe Harbor, BK Remotes assets.
...
Yes, all good points. A DST has BENEFICIAL RECIPIENT DISTRIBUTIONS for timely signed releasors (by 3/2012) and I believe this is what we are waiting for and hopefully this bucket has nothing to do with Libor or the Receivership termination
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Mwd44, you said the following which is EXACTLY CORRECT explanation of our Safe Harbor, BK Remote asset case
Rosen is speaking in "legalese" when he says WMI has no safe harbor assets. Which is true from a legal standpoint.
The safe harbor assets are in a trust. When WMI placed these assets in the Trust, they turned over ownership to the Trustee and WMI became a benefciary of the trust.
Since WMI no loger "owns" the assets, it can be legally said that WMI doesn't have any safe harbor assets. The safe harbor portion of said assets are the "beneficiary interests" which WMI does have.
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Bbanbob, you said the following:
1031 then to the DST ?
——————————
Then utilizing number six of Seven Deadly Sins of a DST…it says the following:
A prearranged timeframe for distributions must be met to avoid any issues with monies that need to be distributed
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William Kosturos is the (DST) Delaware Statutory Trust Trustee accepted by the court on the (ED) Effective Date of March 19, 2012.
This is also in Amended POR 7 signed by the court on 2/23/2012.
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Bbanbob, you said the following:
What really amazes me/us is that LG and I have been saying this now for years on end and getting slammed for it
————————————-
Yes, unfortunately for many this is a lightbulb fact and if some would be doing research rather than hoping we were wrong, they would have understood.
I guess it all depends on the choice of investments one made or did not make on whether they actually wanted honest research or not.
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Bbanbob, you found a good one as we all remember the multitude of WANDS, and other magical names such as what you just found…Eclypse
http://www.eclypseinv.com/
eclypse
investment group
© Copvright 2017, Eclypse Investment Group LLC. All richts reserved.
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Bbanbob, also it has been stated and proven that WMI is a DST since the first part of March 2012 but until now refused to admit until it becomes way to obvious [/i]
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Lucky, any public traded company can be taken private if they so desire and have the votes to accomplish this end.
Coop could easily just announce it is taking the company private with say a 20% premium and if the board decides to do this then they will of course have the votes to accomplish.
We shall find out in time what they are up to because this has traded in a narrow range and Xome has still not been monetized. I suspect this will not happen while being publicly traded.
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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. 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
I used to always think Alvarez & Marshall was doing most of restructuring and accounting while JPM was supposed to be remitting monies but I get your point.
Unless there was some form of forced ending then it is the same as being sold out if there are not repercussions for transmittal and/or no ABSOLUTE DUE DATE!
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Newflow, JPM's 1.8B was only an INITIAL payment. Here, take a look.
WaMu Purchase Assumption Agreement-CONCENTRATE ON THE MEANING OF INITIAL PAYMENT
Maybe there should be further research by the ZERO MONIES RETURNING GROUP but first they need to understand what the term, "INITIAL PAYMENT" means
The end of the WaMu saga will NOT OFFICIALLY end UNTIL the "R" or Receivership has finally been resolved/terminated and closed.
https://www.fdic.gov/foia/files/washington_mutual_p_and_a.pdf
***PDF Page 20***
ARTICLE VII
BID; INITIAL PAYMENT
$1,888,000,000.00 for the The Assuming Ban has submitted to the Receiver a positive bid of
Assets purchased and Liabilities Assumed hereunder (the "Bid Amount"). On the Payment Date, the Assuming Ban will pay to the Corporation, or the Corporation will pay to the Assuming Ban, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Ban Closing) from and including the day following Ban Closing to and including the day preceding the Payment Date at the Settlement Interest Rate.
Q) After the initial payment of 1.888B was paid, then what is the remaining balance to be paid, and when? I will take a shot at answering both of these questions.
[color=red]A) Sometime between now and midnight on 12/31/2023, we will have some answers and/or distributions. Further, I will say there will be between a minimum of 27 and 625B returning.
I believe a trigger for all this to happen is the Powers-That-Be must sign a release to the FDIC and possibly others for the monies to flow. which could happen literally ANY DAY/i][/color]
xxx
More Dots To Connect - JPM NOW Servicing Former COOP Mortgages
READ CLOSELY ALL THE WAY TO BOTTOM-THIS CONNECTS MANY, MANY DOTS TO OUR DISTRIBUTIONS
1) Some BoardPost members reported their mortgages will be serviced by JPM on 4/1/2022...This is a turn-a-round from what we have seen in the past BUT now makes perfect sense on both timing and JPM paying for certain assets as we saw in POR 7
2) Amended POR 7 signed by the court on 2/23/2012 advised JPM must pay Book-Value for certain assets of the WaMu Estate
3) We have not seen these monies since dissolving WMILT on 12/31/2021. JPM MAY gather the assets they wanted to pay for and will proceed with payment on/before 12/31/2023?
4) Now look at the following information I have posted several times over the years
5) Plus the 50B discussed on the recent earnings call on 2/11/2022 with Escrow Shares being suddenly removed same day and then COOP stock rallied seven-plus dollars...hmmm, hmmm
6) This is now all coming together it seems not to mention some investors must be terribly worried
__________________________________________
Remember the Year 2014 & JPM's OFF-BALANCE SHEET ASSETS-Now Look at COOP's Admission of Off-Balance Sheet Assets
***MANY BELIEVE THESE JPM OFF-BALANCE SHEETS Assets were earmarked for the investors who signed timely releases...NO, JPM DID NOT GET ALL OF THIS FOR FREE***
Obligation under an Off-Balance Sheet Arrangement of a
Registrant, Financial Statements and Exhibits (form 8-K)
11/04/2021 | 04:24pm EDT
https://www.sec.gov/Archives/edgar/data/933136/000119312521320180/0001193125-21-320180-index.htm
_______________________________________
WaMu Assets - JPM remitting monies to the Wells Fargo accounts
http://s.wsj.net/public/resources/documents/WSJ-WAMU-Responsive-e-mails092810.pdf
JPM remitting monies to the Wells Fargo accounts set up during bankruptcy, however, we have no idea how many billions are in these accounts and the same goes for the court registry accounts ALL lawyers have been paid from to the tune of almost ONE BILLION DOLLARS- ZERO ACCOUNTABILITY!
Are we forgetting this?
From the GSA:
http://www.sec.gov/Archives/edgar/data/933136/000090951810000371/settlement_agr.htm
Exhibit Z
Loan Servicing. From and after the Effective Date of 3/19/2012, JPMC shall (a) cause such of its Affiliates to continue to service the loans identified on Exhibit “Z” hereto (the “Loans”) pursuant to the servicing agreements identified on Exhibit “AA” hereto (the “Servicing Agreements”), (b) cause such of its Affiliates to remit to WMI all checks and/or payments received in connection with those loans in its possession and (c) promptly (i) remit to WMI all servicing advances that JPMC is holding with respect to such loans and (ii) provide WMI an accounting with respect to each of the foregoing.
Notwithstanding the foregoing, any dispute that may arise relating to the servicing of such loans during the period from and after the Effective Date shall be brought pursuant to such servicing agreements and this Agreement is not intended to create any additional rights, obligations or remedies.
The Parties acknowledge and agree that (y) the Loans are the only loans that are or will be, from and after the Effective Date, serviced by the JPMC Entities (or their Affiliates) for the WMI Entities (or their Affiliates or their successors in interest) and that the Service Agreements are the only servicing agreements between the JPMC Entities (or their Affiliates) and the WMI Entities (or their Affiliates) and (z) with the exception of the obligations set forth in this Section 2.19, the JPMC Entities (and their Affiliates) shall have no further obligations or liability to any of the WMI Entities (or their Affiliates) with respect to or in any way related to the servicing of any loans for the WMI Entities (or their Affiliates).
Notice that it says WMI and NOT WMB?
Also, notice that most of the loans are single-family residential loans?
And let's see what is noted in the P&A between FDIC as RECEIVER of assets from WMB and JPM.
Let's zoom in on Schedule 3.2 (it is called PURCHASE PRICE OF ASSETS, by the way, to avoid any misinterpretation):
(a) cash and receivables from depository Book Value
institutions, including cash items in the
process of collection, plus
interest thereon:
(b) securities (exclusive of the capital stock of Market Value
Acquired Subsidiares), plus interest
thereon:
(c) federal funds sold and repurchase Book Value
agreements, if any, including interest
thereon:
(d) Loans: Book Value
(e) Other Real Estate: Book Value
(f) credit card business, if any, including all Book Value
outstanding extensions of credit:
(g) Safe Deposit Boxes and related business,
safekeeping business and trust business, if Book Value
any:
(h) Records and other documents: Book Value
(i) capital stock of any Acquired Subsidiares: Book Value
(j) amounts owed to the Failed Bank by any Book Value
Acquired Subsidiar:
(k) assets securing Deposits of public money, Book Value
to the extent not otherwise purchased
hereunder:
(1) Overdrafts of customers: Book Value
(m) rights, if any, with respect to Qualified Market Value
Financial Contracts.
(n) rights of the Failed Bank to provide Book Value
mortgage servicing for others and to have
mortgage servicing provided to the Failed
Bank by others and related contracts.
(0) Bank Premises: Book Value
(p) Furniture and Equipment: Book Value
(q) Fixtures: Book Value
If you read all this, isn't it very obvious the off-balance figures on the JPM 10k were made public in 2014 and the closing of P&A in 2014 are related? Not the mention the 38 billion of loans which have not been repaid or liquidated returning to the FDIC receivership?
Isn't it very obvious that JPM, as stated in the GSA, was the pure servicer for Single Family Residential loans (a.k.a. mortgages) and that checks and payment are to be remitted to WMI?
THIS REALLY SHOULD MAKE INVESTORS THINK
https://www.sec.gov/Archives/edgar/data/933136/000119312521320180/0001193125-21-320180-index.htm
MR. COOPER GROUP INC. : Entry into a Material Definitive Agreement,
Creation of a Direct Financial Obligation
OR
an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits
WaMu 299 BILLION in ASSETS - FDIC OWN PIE CHART PAGE 7 - ALL COMING TOGETHER
WaMu 299 BILLION TOTAL ASSETS PER THE FDIC
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=135773992
'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF 299 Billion in Assets - This Number should Come Up Again
https://www.fdic.gov/about/financial-reports/corporate/cfo_report_3rdqtr_15/0915_cfo_report.pdf
[color=red]Bottom of page 7 below pie chart
XXX
Bbanbob, is this ANOTHER LIGHTBULB MOMENT?
We have been only talking about WMI still alive for years!
If some would read the documents one would know that WMI became a DST the second week of March 2012 with the (ED) Effective Date following on 3/19/2012!
..,
Boris, yes you are correct an administration fee. I have the proof but will have to wait until later to post.
…
Ok, but key word is AUTHORIZED…
All JWW had to say was NOTHING because my post was correct as it stands, rather than slamming my post as being WRONG as he stated in his post to me!
…
Per Plissken on BP
The retired Preferred Shares in question is the Series A Preferred Shares that KKR had held. The company still has 10 million Series B Preferred Shares authorized and outstanding.
…
Yes, I have always thought that and further, retiring the ALREADY AUTHORIZED ten million Preferred Shares on the books since 3/19/2012 possibly reflects COOP being taken PRIVATE and YES BEFORE Xome is monetized.
The Big Money Players never want to give the bulk of equity to Retail via a publicly traded company. However, ONLY time passing and filings will show us the way forward.
...
ItsMyOption, a great recap, and thanks for sharing. In particular the following is very interesting.
______________________________
In the third quarter of 2021, the Company retired its preferred shares. As of December 31, 2022 and 2021, the Company had 10 million preferred shares authorized at $0.00001, with zero shares issued and outstanding and aggregate liquidation preference of zero dollars.
...
Remember, the FDIC R has not been released nor has the Receivership been terminated and/or resolved and not until then will this be over.
Just know all it takes is a release and a few signatures from the powers-that-be and monies will be released to the rightful owners and thus could happen literally ANY DAY or year!
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Newflow, again excellent research. The date on this explains most of what we have been saying all of these years and also confirms several of the main actions.
1) As repeatedly discussed over the years Safe Harbor is very real and JPM did not get all of WaMu for nothing or a song
2) JPM did not get this for free and/or the INITIAL payment of 1.8B…much more to come
3) All of this has carried on and monies handled/deposited in frozen accounts until agreed distribution timeframe as loans paid off and/or reissued
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fred, you said the following:
LARGE GREEN/banjo bob: FDIC confirmed that WaMu Bank is still alive as is the failed THRIFT Receiver (FDIC).....further
___________________________________
WaMu had one of the very few types of licenses left that allowed them to do almost any type of business which would include being a THRIFT Receiver. Further, I believe WaMu was the only one left in the USA this afforded any bank. WMI is proven to be alive and became a DST the first week of March 2012, then this all became effective on the (ED) Effective Date of March 19, 2012.
No doubt, JPM, and others had to remit monies into these DST accounts in the care of the eventual owners of the former WaMu Estate who are the investors who signed timely releases in 3/2012.
We wondered for a long time if WaMu still held this grandfathered license but as it turned out this is one of the many reasons FDIC illegally seized WaMu with the help of JPM Executive with one named Charly Schwarz who is now CEO of Wells Fargo and they will eventually be reduced to part of JPM in time, I believe.
...
Ah, thank you very much for the correction
BBANBOB, however, if there are monies being deposited into DSTs over the years as suspected and the owners of the beneficial interest recipients are those investors who signed timely releases by 3/2012.
WMI (still alive) at this point owns nothing until they issue PRIVATE NON-TRADABLE SECURITIES to those investors who signed timely releases. At this point, WMI can take control of its cash pile that is owned by those investors who released it.
They could keep COOP a public trading organization and can use Granpa WMI for loans and others to keep growing and since Granpa will have between 500B and on trillion in cash pile, there is no reason to be a bank as they can loan monies internally and fund future acquisitions spinning of stock and dividends to those investors who sign timely releases by 3/2012.
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Huge PROJECTION BY COOP Recent Filing - I looked at this yesterday and ALSO wondered why NOBODY OTHER THAN TAKO discussed
______________________________________________________________
Thanks go to Tako on BP for putting this out there which correlates with my thoughts as well
I’m surprised that nobody commented on the last development of COOP projecting by year 2025 a huge 3.9T UPB
They were always talking about 1T target and suddenly the target upped to 3.9T (390% increase)..what made them reveal these info
It seems to me a change of heart did happen made the plan to be changed and I think this change affects our recovery unless a transfer of NSM to JPM already happened
I remind you folks if COOP still owns 2.5% of the total assets it’s value will go up from 25b to 97.5b
Please correct me if I’m wrong..AIMHO
Good luck to all ..Tako
__________________________________________________________________
So the question is how did COOP get to 800 plus billion UPB and NOW COOP says, COOP projecting by the year 2025 a huge 3.9T UPB...HOW DOES THIS happen in terms of buying these assets
In my view there has to be something in motion relatively soon regarding using the ten million AUTHORIZED preferred shares and more
...
LET FACTS, ACTIONS & COMMON SENSE DICTATE PROOF UNTIL DISTRIBUTIONS ARE VERIFIED WITH ACTUAL PROOF
Let us posit one question. If COOP was getting ready to claim Xome was being sold for 1.5B and it was proven through another investor before the official filing affirming,
DO YOU THINK COOP WOULD RISE IN VALUE BEFORE THE OFFICIAL ANNOUNCEMENT...OF COURSE, IT WOULD RISE SIGNIFICANTLY
So, with an investor claiming they have already received some interest related to the BONDS,
WOULD NOT AN ASTUTE INVESTOR ASSUME THE BONDS WOULD RISE IN ANTICIPATION OF BEING MADE WHOLE... OF COURSE, THEY WOULD ASSUME THE BONDS WOULD RISE
***HOWEVER, HOWEVER NOT IN THIS CASE AS THE BONDS AN INVESTOR CLAIMS TO HAVE BEEN PAID ON...SO MAKE YOUR OWN DECISION ON FACTS AND ACTIONS, AS THESE TELL THE REAL STORY***
Also, an investor assumes the other 15B in bonds held by relatively few very astute investors have been paid interest as well,
BUT NO SIGNIFICANT INCREASE IN BONDS AT THIS POINT, SO THIS FACT ALONE MAKES IT HARD TO BELIEVE ANY MONIES RELATED TO THE BONDS HAVE BEEN PAID OUT TO ANY INVESTORS PERIOD
…
Split T, Jh, maybe an 8K between now and Tuesday OTHER THAN the 10K for last year historical numbers??????
I expect negative news for the first quarter of this year but that will not be shown in the 10K.
However, I expect negative news in the filing as they are having the meeting on a Friday.
Generally speaking, news on Fridays is reserved for under-the-radar and negative news from my experience.
We shall soon see…
Xxx
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LET FACTS, ACTIONS & COMMON SENSE DICTATE PROOF UNTIL DISTRIBUTIONS ARE VERIFIED WITH ACTUAL PROOF
Let us posit one question. If COOP was getting ready to claim Xome was being sold for 1.5B and it was proven through another investor before the official filing affirming,
DO YOU THINK COOP WOULD RISE IN VALUE BEFORE THE OFFICIAL ANNOUNCEMENT...OF COURSE, IT WOULD RISE SIGNIFICANTLY
So, with an investor claiming they have already received some interest related to the BONDS,
WOULD NOT AN ASTUTE INVESTOR ASSUME THE BONDS WOULD RISE IN ANTICIPATION OF BEING MADE WHOLE... OF COURSE, THEY WOULD ASSUME THE BONDS WOULD RISE
***HOWEVER, HOWEVER NOT IN THIS CASE AS THE BONDS AN INVESTOR CLAIMS TO HAVE BEEN PAID ON...SO MAKE YOUR OWN DECISION ON FACTS AND ACTIONS, AS THESE TELL THE REAL STORY***
Also, an investor assumes the other 15B in bonds held by relatively few very astute investors have been paid interest as well,
BUT NO SIGNIFICANT INCREASE IN BONDS AT THIS POINT, SO THIS FACT ALONE MAKES IT HARD TO BELIEVE ANY MONIES RELATED TO THE BONDS HAVE BEEN PAID OUT TO ANY INVESTORS PERIOD
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