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Did anyone keep copies of their W9 or release form?
Libor settlement not appealable, nor other distributions in this case.
Libor will be settled in judges chambers so no appeal allowed. And our other payments are just distributions.
So what can be appealed? Nothing.
Xoom is a good guy so could be true. 16 yrs is a long time to remember small details. When the releases came it was very hectic so could be we had it on the form. I was stupid and didnt make copies!! Maybe someone who kept copies can check to see whats on there.
Re: W9s. Your social security number is on the form of course, so no matter what, you can be tracked down when there is a distribution. That's the beauty of a W9. No matter where you are they can find you to distribute funds.
xoom are you sure on that? I don't recall that option. If so I'm sure I'd choose cash. Paying taxes sucks but once done what you keep is yours. Frankly I don't mind paying the taxes if we are successful. The government needs money to operate the country! I wish we had more say in where our tax money goes though, but it is what it is.
Regardless, I still think for some things we will get shares and some cash. Depends where it's from. Just glad I released!
Geez just what we needed. Fdic upheavel! We can't catch a break!
Ive heard from a reliable source that the Fdic is extremely corrupt. And they hold our Wamu in their hands! God help us.
Split, the hedgies will be in the same tax situation so we will somehow find out how they will approach it.
Some payouts will be taxable but some wont. Lets hope this happens in 2024 before they increase cap gains to 45%.
If its a settlement, no taxes.
Of course we will get 28% withheld and we would have to argue our case with the IRS. Good luck with that!
At the very least it should be considered LTCG.
Use the ignore feature. Let them talk to themselves.
Yes AZ this will be a big year.
Libor, shares, loads of cash, divvies, and my guess...that JPM buys it all and corners the mortgage servicing market.
Those who own COOP shares, and escrows, are going to have an amazing ride.
Ron, Libor is just a piece of the pie.
So much more to come once it's settled. Bank payment, assets, minerals, etc. Jamie has gotten away with this for far too long. Enough is enough. I'm sure the hedgies have had it with him!
We just need to wait a little longer. Patience.
May is shaping up to be very important.
Libor has been eerily quiet. If rumors mean anything something could be brewing. Id gladly take 100b.
But the first settlement could be BBA, not JPM. Lets see if the judge combines them so Dimon can play hide the sausage. This will be a chambers settlement cloaked in secrecy.
The other question is will the Fdic hold firm to its 400b demand or will they settle for half.
Interesting times. The big boys want their money! They have 70% of the estate....we peons just hold 30%. Tepper has players to pay.
If Libor settlement is 209b and Wamu estate gets 100b as is rumored on BP...
Then if COOP gets 2.5b from that, they can do their share distribution without affecting share price. That could be why the SP has been stable. Makes sense. So COOP may be waiting for Libor to settle. Interesting scenario.
Its "escrow positions", not escrow markers. The markers were LT. Look at your account history for 2021. If you have escrows it will be in your history. Forever.
See you at the bank. If you released.
Bwahahahahaha!
I feel sorry for nonreleaser nonescrow holders.
I understand their bitterness and jealousy.
Hold2wm seems to be very knowledgeable. I'm not saying his ideas are 100% but he seems to have a handle on this. He's a realist not a pumper. There are others on bp who are really good too. I think we could be close to something now.
200b? Maybe not. But even 10b coming back is significant.
Supposedly a contact at FDIC. Friend of a friend.
I never believe rumors. Few are reliable. I'll believe it when I see it in my acct.
LG that's a good guess. Hold2 says $208B for our final group which would give us around 100B. I'd rather be conservative and be pleasantly surprised. FDIC has never had a mega settlement of this magnitude. I've hear a recent rumor that settlement negotiations are ongoing. SG, hedgies, and UWs all involved.
We have to wait and see on the 75 25 LIBOR argument, as well as the 2.5% for COOP. BP believes 75 25 to the end for all payouts. I have my doubts on that. But I do know this. We will all do well. If we are going to get paid it will be a combo of divvies, shares, new Ps, cash, etc. Complex payments that will take time. Bop may be right about her theory of the brokers offering loans till final payouts happen..
Libor in May per bp.
I agree we are very close now. Lets hope this judge isnt in Dimons back pocket like Walrath was.
If we dont see settlement this month we may have to wait till Oct discovery closure.
Thats different than a 1 or 2 penny dist.
Fact is, we dont know for sure what those are. Its likely nothing but it could be something due to frequency and timing.
Libor settlement is close now so who knows.
Thanks Order. You may be right.
Lets see what happens. Libor will be the first key. Hope we dont get screwed but I think we have a good shot.
Account tests are usually 1 or 2 cents.
As for previous tests, that was done many many years ago. Much has changed since then.
Test distributions a precursor to Libor settlement?
Our Libor case will likely wrap up this month and the brokers are starting to prepare.
Will it be 208b as hold2wm speculates? I hope hes right but my guess is 100b. That's still a lot of money, the most ever for the Fdic.
Test distributions are common when brokers feel something could be coming. They want to be prepared so there are no glitches. Lets see if others get them.
2026 doesnt exactly exude confidence!
I think it will come in several phases and will be a combo of JPM COOP shares, dividends, and cash.
Libor is our first shot at money. Then COOP shares. This year will be the start.
That hearing is not our case.
18 states have zero estate tax.
As for settlement money it may not be taxable. Lets hope anyway.
Bill48. I do what I can. You know what I mean.
Libor mega settlement very soon.
I cannot fathom it going into next year.
No escrows huh? LOL
So I see you are drinking the lodas et al koolade too. Sorry you didnt release.
Nope, standard Ferrari. His cheeks were bulging like he was ready to blow a gasket! Lol
Seems very friendly. Livin the good life. Like we all will be soon.
Yes, I believe we will all do well.
At least, those who released. Don't think I want a Ferrari. But a vette will be nice.
AZ, re: my new escrow 'vette. Will it be hard for me to get in and out? License plate will be WAMU
I recently saw Shaq driving down the freeway between LA and San Diego in a tiny red Ferrari.....license plate: SHAQ.
I got in the left lane next to him and he looked over at me, smiled and waved. Cool dude. But I couldn't help but think how in God's name did that gigantic guy cram himself into that little car! LOL
So my question is, can you get in and out ok? I bet Shaq needs a big shoe horn!
It's time to come together and think positive. Why?
I believe as hold2wm ($208B) and others do that we are very close to something really big. The FDIC has never entered into a settlement of this potential magnitude. As hold2 calls it, a "mega settlement". Will it happen, who knows for sure.
All signs point to it.
When the FDIC requested, and was granted, privacy for this settlement, that started the lights flashing. Why privacy? Hmmm. Well, it doesn't take a rocket scientist to figure out that they feel something significant is coming and they don't want it to be publicized.
I do not drink or do drugs. LOL But I have powerful intuition, and something is telling me we are close to news.
Good luck to holders of escrows. Almost 16 years of torture may soon be coming to an end.
I feel like something is in the near term offing.
This could be our year. When exactly, and how much is the question. The first half of May could be telling.
True. In a perfect world, slam dunk.
But this country is a mess. DOJ, FDIC, FED and on and on. The banksters are as corrupt as they come.
So yes, Libor should get us some justice. But who knows? All Dimon has to do is say, I have a pen and a phone. And hes off the hook.
I do think escrows will get some payout. But it wont be what it should be.
The big thing is, it will unlock the rest. Thats where the big money is. If we have a big enough crowbar.
As for Libor, this judge is our savior, I believe. I think she is righteous and will see that the mega settlement is fair and reasonable....unlike the other one.
Since jpm et al made trillions, certainly 400B is a Libor bargain. The Fdic did them a favor by only suing for 400b. It shouldve been much more. Yet cheapskate Dimon will crowbar the judge into accepting much less, maybe 100b. Sickening how that crapweasel gets away with the fleecing of America. Wamu suffered extensive 5th amendment damage and that rotten sob will get away with a mere slap on the wrist.
Thats justice in America today. But the hereafter is another matter entirely...........
Did you get the first distribution? If so, then you are on the list for the next distribution to happen any time now. I wish I knew the exact day of the next payout but nobody does.
Will it be COOP shares, or Libor cash. Both are looming.
I feel sorry for many of those who did not release because some did it thinking they could just sue. But it won't work out for them that way. Release = escrows.
Remember to discreetly and prudently help those in need....but trust no one. Keep your windfall to yourself or you'll have people tripping over your sidewalk constantly.
Release the Kraken!
Yes good things finally coming. I plan to buy a nice vacation home or two. Help old folks at the prescription counter who cant afford to pay. Help animals. Help our vets in need!
Do good things people. There will be plenty to go around.
Yes, thanks AZ. Any money flow will be welcome. The next few weeks will be very interesting indeed. Let's see how this all plays out. Hoping to hear about Libor any day.