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Interesting how this is worded, but after all, we are dealing with Charles Edward Smith!
"CONSISTENT WITH REPRESENTATIONS MADE TO THE BANKRUPTCY COURT IN CONNECTION WITH CLOSING THE CHAPTER 11 PROCEEDINGS, THE TRUST WILL CONTINUE TO MAKE THESE LEGACY FAQs ACCESSIBLE TO INTERESTED PARTIES UNTIL AT LEAST MARCH 31, 2021."
Royal Dude, Thanks for the posting of this information, obviously we need to keep an eye on these stock and Reits. I'm going to take a peek at out competitors as they should align with us when COOP goes up or down...if not, something is up for sure.
Mortgage-related ETFs to watch include REM, MORT, DMO, and PGZ. Mortgage servicers Mr. Cooper (NASDAQ:COOP), New Residential (NYSE:NRZ), Ocwen Financial (NYSE:OCN), and PennyMac Financial Services (NYSE:PFSI) could be affected.
Mortgage REITs to watch include: Annaly Capital (NYSE:NLY), AGNC Investment (NASDAQ:AGNC), Chimera Investment (NYSE:CIM), and Two Harbors (NYSE:TWO).
Don't forget that Charles Edward Smith received a $2,400,000 cash Bonus from WMIH for pulling off the 12?1 RS and the A&B Preferred,
oh, and most important he was with JPM for a while! I smell collusion from the get go.
Cassie, Perhaps those that trade Options will chime in and give us their take of how they interpret this movement.
Mr Cooper Group Inc (Symbol: COOP) saw options trading volume of 6,207 contracts, representing approximately 620,700 underlying shares or approximately 72.6% of COOP's average daily trading volume over the past month, of 855,310 shares. Especially high volume was seen for the $35 strike call option expiring April 16, 2021, with 5,788 contracts trading so far today, representing approximately 578,800 underlying shares of COOP. Below is a chart showing COOP's trailing twelve month trading history, with the $35 strike highlighted in orange:
https://www.nasdaq.com/articles/notable-friday-option-activity%3A-rng-coop-enta-2021-01-08
xooom, I don't just hope for a recovery, I pray for one! We have both learned over the past 12 years that no one has all the answers and most have been proven to be mistaken as time has passed.
Jiminy, quite an interesting read. Stirring the pot occasionally keeps the good stuff from settling to the bottom and out of sight. I always enjoy your take on how this may pan out, but I still have faith that eventually I'll see a payday. We all wait together, but I actually don't think it will be much longer.
You do realize that you stuck a pin in another poster's balloon and I can hear it leaking and see that it is shrinking in size.
Others rave on about how smart they are, but you punch me in the gut with real facts and links. Thanks.
Proof JPM was ONLY Servicing - Monies been building in court-sanctioned/supervised accounts on behalf of the former WaMu Estate now OWNED by those investors who signed timely releases by 3/2012 and who also have our beloved ESCROW SHAREMARKERS in their respective brokerage accounts.
__________________________________
WaMu Asset Acceptance Corp., as Securitizer, is filing this Form ABS-15G in respect of all mortgage-backed securities representing interests in pools of residential mortgage loans for which it acted as depositor and which are outstanding during the reporting period.
On September 25, 2008, JPMorgan Chase Bank, National Association (“JPMCB”) acquired the banking operations of Washington Mutual Bank from the Federal Deposit Insurance Corporation (“FDIC”). It is JPMCB’s position that certain of the repurchase obligations of Washington Mutual Bank remain with the FDIC receivership.
Assets are reported herein in accordance with Rule 15Ga-1 regardless of the validity of the demand or defenses thereto, and nothing in this report shall constitute, or be deemed, a waiver of any rights, defenses, powers or privileges of any party relating to these assets.
whalewisdom.com/filer/wamu-asset-acceptance-corp
See FOOT NOTE ONE - Following Link
www.sec.gov/Archives/edgar/data/1317069/000092963815000128/wamu-67348_abs15g.htm
From the GSA:
www.sec.gov/Archives/edgar/data/933136/000090951810000371/settlement_agr.htm
***Exhibit Z***
Loan Servicing. From and after the Effective Date (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. Closing date 25th of September 2014.
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 Subsidiaries), 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 Ban 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 Ban to provide Book Value
mortgage servicing for others and to have
mortgage servicing provided to the Failed
Bank by others and related contracts.
(0) Ban Premises: Book Value
(p) Furniture and Equipment: Book Value
(q) Fixtures: Book Value
If you read all this, isn't it very obvious that 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 pure servicer for Single Family Residential loans (a.k.a. mortgages) and that checks and payment are to be remitted to WMI?
It's a done deal, of which the proceeds soon to be seen on escrows. If you own them that is.
Also interesting tidbit from the P&A:
(f) Servicing. The Assuming Bank shall administer and manage any Asset subject to purchase by the Receiver in accordance with usual and prudent banking standards and business practices until such time as such Asset is purchased by the Receiver.
There we have the kicker right there. According to JPM's own 10k, it is clear that from 2008-2013 there were no purchased assets. In 2014, with the closing of P&A, these assets were ultimately purchased for Book Value.
Hence the off-balance figures we saw on the R-203 document. Assets were finally purchased, and merged into JPM. That's why in 2014 we don't see any former WMB-subsidiary on the JPM Subsidiary List anymore.
And:
All transfers with respect to Asset or assets under this Section 3.6 shall be made as provided in Section 9.6. The Assuming Bank shall transfer all such Asset or assets and Related Liabilities to the Receiver without recourse, and shall indemnify the Receiver against any and all claims of any Person claiming by, through or under the Assuming Bank with respect to any such Asset or asset, as provided in Section 12.4.
Royal Dude, It's always interesting to see money moving around, but the Crapastanian Instruments they are offering are scary as hell.
I have now found at least 4 of these for the January 27th 28th So 5 Banks at 3. bil = 15 Bil as an approx. settlement. Although I would like to double that it is only the 1st distribution on Feb 1st, Finally our 1st distribution in cash.
"The underwriters expect to deliver the notes through the facilities of The Depository Trust Company against payment in New York, New York on January 27, 2021."
Prospectus Supplement to Prospectus dated July 1, 2020.
GS
$2,250,000,000
The Goldman Sachs Group, Inc.
0.481% Notes due 2023
GS
Prospectus Supplement to Prospectus dated July 1, 2020.
$750,000,000
The Goldman Sachs Group, Inc.
Floating Rate Notes due 2023
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14633756&RcvdDate=1/22/2021&CoName=GOLDMAN%20SACHS%20GROUP%20INC&FormType=424B2&View=html
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14633799&RcvdDate=1/22/2021&CoName=GOLDMAN%20SACHS%20GROUP%20INC&FormType=424B2&View=html
Zoom, I agree! In the next 30 days there is going to be a lot of eyes rolling!
"Ah Wells Fargo. I think they are just waiting to return the monies deposited as part of the court orders. Just not sure when to return lol"
After reading this I'm unimpressed. Small Investors jump in, hell my Grand Children have more share of COOP, plus they have Escrow. lol
"Shares of COOP opened at $28.84 on Monday. The company has a market capitalization of $2.62 billion, a P/E ratio of 14.35 and a beta of 1.56. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.84 and a quick ratio of 0.84. Mr. Cooper Group has a one year low of $4.31 and a one year high of $31.52. The business’s 50 day simple moving average is $29.03 and its 200-day simple moving average is $21.98.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. USA Financial Portformulas Corp bought a new position in Mr. Cooper Group during the third quarter worth about $46,000. Prospera Financial Services Inc bought a new position in Mr. Cooper Group during the third quarter worth about $46,000. Federated Hermes Inc. boosted its holdings in Mr. Cooper Group by 180.0% during the third quarter. Federated Hermes Inc. now owns 3,959 shares of the company’s stock worth $88,000 after buying an additional 2,545 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Mr. Cooper Group by 36.8% during the third quarter. Nisa Investment Advisors LLC now owns 6,692 shares of the company’s stock worth $149,000 after buying an additional 1,800 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Mr. Cooper Group by 7.7% during the second quarter. Sei Investments Co. now owns 16,634 shares of the company’s stock worth $207,000 after buying an additional 1,188 shares during the last quarter. Institu"tional investors and hedge funds own 89.40% of the company’s stock.
IRS said the LLC agreement wouldn't stop the reorganization from qualifying.
Reorganization Treatment Not Impacted By LLC Agreement ...
[Search domain www.law360.com/tax-authority/articles/1345756/reorganization-treatment-not-impacted-by-llc-agreement] https://www.law360.com/tax-authority/articles/1345756/reorganization-treatment-not-impacted-by-llc-agreement
In PLR-112874-20 (PLR 202102007), the IRS said the LLC agreement wouldn't stop the reorganization from qualifying under Internal Revenue Code Section 368(a)(1)(F) .The reorganization involved an ..
Bban, Here's the latest info I have.
WMI Liquidating Trust
800 Fifth Avenue, Suite 4100
Seattle, Washington 98104
206-922-2956
Charles E. Smith
Thanks Bban, it makes sense!
Sam, Sure hope you are correct as we continue to fall off the cliff today. If there is an end to the fall, I don't see it anytime soon!
"Have a good night and dream that the falling off the cliff of the PPS today has something to do with news that has leaked and is about to become public.
Wouldn't that be lovely?"
Then why are you still here? Have you figured out the difference between the Q's and H's yet? If not, we'll try and help you catch up.
I see the current price of COOP is bouncing around between 29.50 and 30.14.
"Out of all the holdings listed the only one of value are the COOP shares, the rest are basically worthless!"
Sam, I came to the conclusion long ago that you are a good egg. Similar circumstances, I completely understand and agree with your sentiments.
"The real reason I am emotionally invested in this (and I suspect as are others) has to do with being on the side of 'right'. Going way back, many of us believe the bank was seized without justification. Oh sure, there were 'reasons', but if the OTC documentation is to be believed, it was not appropriate for WMB to be taken down. Furthermore, if the scuttlebutt about JPMC Bank that came out a few years later is true, it starts to look like WMB was sacrificed on the altar of capitalism to save JPMC.
Today, the financial return doesn't matter as much. I'm retired and while (if it comes - and I think it will) it will change my standard of living, it probably won't make me that much happier. When my wife was alive, the prospect of taking those dream trips was important. Now, not so much.
What will make me happy is knowing that I made a good choice in choosing this stock (WMI). Every time I read one of your posts, it reminds me that there is a chance for some serious happiness (at being right) for which I have already paid the penalty (grief, anger, and frustration over the years).
I guess its kind of like being reminded that summer is coming when you are a kid in school. Or the anticipation of your favorite holiday. Or the hope that the girl will in fact go out to dinner with you. Or the anticipation of your team winning the world series. (Go Cubs!)"
Being the owner of a Pro Football team requires lots of cash and ticket sales to stay afloat. I bet he is just loving the decision he made in buy the Panthers. I suspect he has burned thru his COOP money by now and wishes he had never seen a football.
"BUT TEEPER SOLD ALL OF HIS, could he really be that STUPID???????"
COOP Earnings Date
Earnings announcement* for COOP: Feb 23, 2021
Mr. Cooper Group Inc. is estimated to report earnings on 02/23/2021. The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 3 analysts' forecasts, the consensus EPS forecast for the quarter is $2.48. The reported EPS for the same quarter last year was $1.03.
Earnings Per Share
Estimated Reported
4Q'191Q'202Q'203Q'204Q'201Q'212Q'213Q'21
01234
EPS
Estimated EPS 0.92
Reported EPS: 1.05
Quarterly Earnings Surprise Amount
Fiscal Quarter End Date Reported Earnings Per Share* Consensus EPS* Forecast % Surprise
Sep 2020 10/29/2020 2.76 2.69 2.6
Jun 2020 07/30/2020 2.85 1.38 106.52
Mar 2020 04/30/2020 1.05 0.92 14.13
Dec 2019 02/25/2020 1.03 0.67 53.73
Yearly Earnings Forecast
Fiscal Year End Consensus EPS* Forecast High EPS* Forecast Low EPS* Forecast Number of Estimates Over the Last 4 Weeks Number of Revisions - Up Over the Last 4 Weeks Number of Revisions - Down
Dec 2020 8.87 8.87 8.87 1 0 0
Dec 2021 4.62 4.8 4.27 3 0 0
Dec 2022 4.73 5.24 4.45 3 0 0
Quarterly Earnings Forecast
Fiscal Quarter End Consensus EPS* Forecast High EPS* Forecast Low EPS* Forecast Number of Estimates Over the Last 4 Weeks Number of Revisions - Up Over the Last 4 Weeks Number of Revisions - Down
Dec 2020 2.48 2.93 2.2 3 0 0
Mar 2021 2.17 2.79 1.61 3 0 0
Jun 2021 1.32 1.45 1.21 3 0 0
Sep 2021 0.63 0.82 0.26 3 0 0
Dec 2021 0.5 0.55 0.42 3 0 0
Change in Consensus
Fiscal Year End Dec 2020 Fiscal Quarter End Dec 2020
1 Month Ago1 Week AgoCurrent
01k2k
Number of Estimates Changed
Fiscal QE Dec 2020 Down 0
Fiscal QE Dec 2020 Up 0
Fiscal YR Dec 2020 Down 0
Fiscal YR Dec 2020 Up 0
Estimate Momentum measures change in analyst sentiment over time and may be an indicator of future price movements. The Change in Consensus chart shows the current, 1 week ago, and 1 month ago consensus earnings per share (EPS*) forecasts. For the fiscal quarter endingDec 2020 , the consensus EPS* forecast has remained the same over the past week at 2.48 and decreased over the past month from 2.62 to 2.48(5.34%). none raised and none lowered their forecast. For the fiscal year ending Dec 2020 , the consensus EPS* forecast has remained the same over the past week at 8.87 and decreased over the past month from 999 to 8.87(99.11%). none raised and none lowered their forecast.
This may be a deminimus amount transaction and the "whole" shares have not actually been exchanged/revealed yet????
Here is the meat of Sportyfelix's post!
Type: Liquidation
ISIN: QOXBN0005590
Ex-Day: 05.01.2021.....Exchange
Ratio new : old: 0.0955628 : 1 New ISIN: US92936P1003
Ratio 1-10.46432294
WMIH CORP ORDINARY SHARES
Cash settlement: USD 0.26 per share
Short Volume Ratio
Total number of short shares traded divided by the total shares traded each day (lower chart)
COOP / Mr. Cooper Group Inc. Short Volume Ratio
Market Date Short Volume Total Volume Short Volume Ratio
2021-01-04 218,311 1,015,400 21.50
2020-12-31 82,168 516,100 15.92
2020-12-30 99,762 622,300 16.03
2020-12-29 109,770 585,400 18.75
2020-12-28 102,378 763,900 13.40
2020-12-24 120,666 284,900 42.35
2020-12-23 102,097 831,000 12.29
2020-12-22 61,570 548,100 11.23
2020-12-21 129,136 891,400 14.49
2020-12-18 109,675 2,715,200 4.04
Thanks AndyG!
"For WMIH to qualify for the NOL its capital structure has to be realigned at the consolidated level for which value has to flow to the escrow holders who signed timely releases. So next week should be interesting."
Hmmmmmmm.....What actually happen LG?
"Rick, they are purposely holding WMIH down. Right after a supposedly exciting acquisition, why would they continue to hold it down? Read on for explanation.
Per CEO Jay Bray’ s discussion and that is WMIH will be purchasing assets and not necessarily companies moving forward and he discussed boarding 65 Billion in third quarter of 2018 which ends on 9/30/2018.
So, my view on why they are purposely holding this stock down is there will be assets purchased from Marker holders and they want the stock price LOW BEFORE building in value.
The lower the price the more shares for the Big Money Players before they let the price rise to where it should be. This price does not even trade at known market value let alone a market multiple placed on this so expect a Share for Asset event very soon!"
Andyg59 Thursday, 08/30/18 09:57:45 PM
Re: Large Green post# 535506
Post # of 644320
LG, yes they have to exchange escrow markers assets for new shares to bring WMIH capital structure into alignment with the merger to ensure 51% rule remains intact in order to continue to qualify for favorable tax treatment of the NOL. All I can say it will happen in the fourth quarter.
Cura, The CRS was put out because of the completion of the Purchase of TDA by Charles Schwab Co. No big deal as it just informs investors of a few changes. It has nothing to do with COOP or any other specific stock.
"On December 16 a TDA client, a friend received an automated email that they have updated on December 15 their TDA Inc. Client Relationship Summary known as Form CRS. The Form CRS further explains the relationship between you and TD Ameritrade......... Which update, imo would have not been possible, without the pending distribution."
T's, Do you see this coming into play at the present time?
December 31, 2020
Last day to execute the sale of a long position for the 2020 tax year
Last day to cover a short position for the 2020 tax year (the trade must settle by 12/31, typically 2 business days after it executes)
Nah, the AC umps are going to yell a " your outta here" and flip their thumbs to the UW's. I believe you and SEVERAL others are going to be looking for the salt and pepper shakers.! lol
Y'all stay safe tonight and have a good time,
Happy New Year!
"The LT has NOTHING to do with payments so why would we have to wait till March 31st 2021?
BR will likely dissolve the Trust long before that date, in fact as soon as the AC calls Strike 3 on AG.
Can't wait to hear the new excuses for her loss and the closure of the LT when that happens."
As COOP is being played this morning between 30.15 and 30.70 by the shorts with their typical manipulation we are real close to finding out who is right and who is wrong.
"The Underwriters want to keep what they were given many years ago, 1.4 million WMIH shares.
Rosen stated in reply to Alice's filing that if she were to prevail then the Underwriters would have to give up those shares, assuming they still had them. If not, they would have to pay the cash equivalent to those shares.
It's really not that hard to understand why they want to remain in Class 19!"
Lol, that's not the only reason since they get whatever we get if they prevail. !
As of close today the average PPS for the past 10 days is $30.06.....just saying
ROCE Insights For Mr. Cooper Group
Benzinga Insights
December 17, 2020
During Q3, Mr. Cooper Group (NASDAQ: COOP) brought in sales totaling $872.00 million. However, earnings decreased 49.88%, resulting in a loss of $204.00 million. In Q2, Mr. Cooper Group brought in $630.00 million in sales but lost $407.00 million in earnings.
Why ROCE Is Significant
Changes in earnings and sales indicate shifts in Mr. Cooper Group’s Return on Capital Employed, a measure of yearly pre-tax profit relative to capital employed by a business. Generally, a higher ROCE suggests successful growth of a company and is a sign of higher earnings per share in the future. In Q3, Mr. Cooper Group posted an ROCE of -0.09%.
It is important to keep in mind ROCE evaluates past performance and is not used as a predictive tool. It is a good measure of a company's recent performance, but several factors could affect earnings and sales in the near future.
View more earnings on COOP
Return on Capital Employed is an important measurement of efficiency and a useful tool when comparing companies that operate in the same industry. A relatively high ROCE indicates a company may be generating profits that can be reinvested into more capital, leading to higher returns and growing EPS for shareholders.
In Mr. Cooper Group's case, the ROCE ratio shows the amount of assets may not be helping the company achieve higher returns. Investors may take this into account before making any long-term financial decisions.
Q3 Earnings Recap
Mr. Cooper Group reported Q3 earnings per share at $2.18/share, which did not meet analyst predictions of $2.78/share.
stoxjock, these hedge fund monkeys have two goals....to wear you out and to help accumulate shares for their employer's. Just wait until there's dilution, their numbers will triple.
IMO COOP shares will more than double in value from today's PPS by the end of the 2nd Quarter 2021.
Making sense of who owns COOP shares....
https://www.holdingschannel.com/bystock/?symbol=COOP
mrPenney, As we wait impatiently on news about COOP and related matters we should be thankful that COOP is up and hopefully most people have been made whole.
We often wish for things in which we have no control over, but for sure we have our individual Faith which no man can take a way. Merry Christmas to you and your family and may God show favor to those that trust Him. Only in the darkest hours many people turn to GOD, I'm praying that your Church is restored to it's full capacity in the near future as it and others throughout our land are the true backbone of our troubled society.
LG, maybe there will be a Happy New Year after all!
Outstanding Due Diligence from Dmdmd1
Happy Holidays to all!
IMO...my conclusions as of December 24, 2020 @ 0925 CST:
1) I still contend that there will be new COOP shares issued to WMI Escrow Marker Holders to keep in compliance with keeping the $5.9 billion NOLs intact. Watch and read all the documentation to all the following links and draw your own conclusions.
https://www.profitsusa.com/
Has
Deadline: December 29, 2020
https://nebula.wsimg.com/6a49e636c0cd578452b3c4782e2344f3?AccessKeyId=2009690FCC8B29E133F4&disposition=0&alloworigin=1
PDF Page 1 of 12:
“Although the PPP loan program is the best known CARES Act stimulus program it is NOT the stimulus program that creates the greatest value. What creates the most value are changes to the IRS’s Section 2303 of the IRS tax code as explained in IRS publication 536. I?RS Publication 536 verifies that taxpayers with a NOL in 2020 can carryback (for 5 years) and carryforward (indefinitely). A Loss Reserve Fund (LRF) created in 2020 ?is ?funded by a refund of your federal income and capital gains taxes paid from 2015 to 2019.
? You receive your stimulus funds 90 days after your fiscal year end.
? ALL business types qualify: S Corp, C Corp, LLC, LLP, Sole Prop etc. if using accrual
accounting.
? Click here to download a highlighted PDF of IRS Publ 536 which shows the math for IRS form 1139 (for C Corps) or IRS form 1045 (for S Corp, LLC, LLP etc). ”
The CARES Act (Coronavirus Stimulus Package signed into law on March 2020) made a very important revision of treatment to NOLs! Due to the new revisions Fortune 500 companies can make money off of the insurance from Pandemic liabilities. All premiums are refundable up to 91.5%. And the premiums are able to be financed with just paying interest only at 1%. Also the premium payments are deductible. Therefore by using the refund, essentially there is no out of pocket costs to the companies while reaping all the profits from the insurance policies.
IMO...COOP probably uses multiple pandemic insurance policies such as the C?ARES A??ct ?F?inanced? Stimulus Program (CAFS).
Attached is a screenshot of an example of how much money companies like
COOP can generate with the CAFS Program.
Watch the whole 27 minute video! But the screenshot is explained starting on 21:16 of the video.
https://www.profitsusa.com/
IMO...Also keep in mind the deadline for the CAFS Program is December 29, 2020! Which means if COOP wants to avail of $5.9 billion NOLs and also avail of insurance policies like the CAFS Program, the new shares of COOP need to be issued to WMI Escrow Marker Holders before December 29, 2020.
* D2286968-CFBC-496A-AFA0-C10A9EEB051F.png (1916.35 kB, 1334x750 - viewed 7 times.)
Large Green, thanks for staying on top of Events that may very well impact us.
Merry Christmas to you and your family as well as all others here that have endured this travesty for over 12 years.
Stoxjock, Bo Pilgram @ Pilmgam's Pride did help in a major way. I'm sure Mike did quite well off of that bankruptcy. The real buck's from WMIH are yet to be seen at the moment, give it a few more weeks.
WAMUShamu, It was talked about on the GP or Reorg Board at the time.
I don't recall who was actually talking to him, however it was about when we would see money in our account....that was during big mouth Davis's reign.
sillyinvestor, Yes, Mike is alive and well. He's got a nice spread South of Pittsberg, TX complete with a fancy lit heliport.
Across the street from the FDIC Headquarters is a Heliport, how convenient is that?
Keeping up with him, Kostorous, and Smith isn't easy as they have wiped out their google footprints, or so they think. lol
stoxjock, You may not get a quick reply, however you might call, text, or write Mike for the information you seek. Being under a NDA and being gagged is understandable. The last comment I remember him making was to a couple of investors at a shareholders meeting was, "Don't hold your breath". It doesn't get more direct than that.
Please include my regards for his service.
Micheal Lance Willingham
Chairman, WMI Equity Committee
10469 Wolverine Rd, Pittsburg, TX, 75686-7016
Landline number
(713) 270-8740
Mobile number
(405) 226-4806
Tickle, Lodas is a seasoned American born investor who has more knowledge in Options than 95% of the posters on this board. What have you offered up regarding Options that might be helpful as I must have missed it.
What Lodas stated makes sense to me, but I'm quite curious why you attack him, after all you are a new poster to this board and have been quite negative since you have came aboard in Dec. of 2020, from my view point. Are you one of the manipulators dealing in Options?
"Lodas never thought we’d hit $10 why you asking him for advice???"
Lodas, please keep us informed please as you see things develop. Options are not my thing...although I have been wishing I knew more about them as I see they have been used against us for several months now.