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Only 10 business days until 3 year POR effectiv date...
...and then the M&A can happen IMO (and KKR can exercise their warrants)
03/19/2015 <----- 3 year POR effective date
Just wondering why we don't see any buying pressure!
Fannie Mae: FactChecking Michael Stegman
http://www.valuewalk.com/2015/03/fannie-mae-factchecking-michael-stegman/
They nailed it...
[...]
We’re encouraged that Mr. Stegman is finally being forced to address critical issues related to the undercapitalization of Fannie Mae and Freddie Mac, and how the government’s illegal Third Amendment Sweep is actually exacerbating this problem by taking all of Fannie and Freddie’s profits. But as it has been in the past, his analysis is wrong, and in conflict with HERA, which is the statute that actually governs the conservatorship.
[...]
Policymakers are debating what to do about Fannie and Freddie, but we have a GSE Reform law called HERA. Right now, HERA is being violated by the Treasury, and it was violated by Director Watt’s predecessor Ed DeMarco, who famously admitted to this at a Washington policy conference last year . It’s not too late to reverse course. FHFA can begin rebuilding capital at Fannie and Freddie now, and has the statutory authority to do so under HERA. This would be a good first step.
Let's wait a bit, but you could be right, too many possibilities to interpret this short article...
Yeah, that's good news also in my opinion!!!
U.S. Treasury says speed up reduction of Fannie, Freddie assets
http://www.reuters.com/article/2015/03/05/usa-treasury-gse-idUSW1N0VL00K20150305
(Reuters) - A U.S. Treasury official on Thursday pushed for a faster reduction in the most illiquid assets held by Fannie Mae and Freddie Mac, and said the only way to fix the government-controlled mortgage finance firms was through legislative reform.
[...]
"The closer the GSEs can come to transferring the majority of risk to private market participants, the better," Stegman said in prepared remarks at a Goldman Sachs conference. (Reporting by Michael Flaherty; Editing by Paul Simao)
tanjazielman, what's your take on this one?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111428337
The calculation is correct IMO but my question is...
In addition, from 2005 to 2008, Washington Mutual made certain loan level representations and warranties in connection with approximately $165 billion of residential mortgage loans that were originally sold or deposited into private-label securitizations by Washington Mutual. Of the $165 billion, approximately $78 billion has been repaid. In addition, approximately $49 billion of the principal amount of such loans has liquidated with an average loss severity of 59%. Accordingly, the remaining outstanding principal balance of these loans as of December 31, 2014, was approximately $38 billion, of which $8 billion was 60 days or more past due. The Firm believes that any repurchase obligations related to these loans remain with the FDIC receivership.
Nice paraphrase for saying "the government wants to cover up the unlawful things it has done"...
No opinions on this Ocwen PR?
Is this our "deal"?
http://finance.yahoo.com/news/ocwen-sell-mortgage-servicing-rights-220244762.html
Mortgage servicer Ocwen Financial Corp (OCN.N) said it would sell residential mortgage servicing rights on $45 billion of Fannie Mae loans to an undisclosed buyer, sending its shares up 5.5 percent in extended trading.
[...]
Ocwen said on Monday it was on track to sell servicing rights on agency loans of about $55 billion, including the two deals, in the next six months to raise around $550 million.
Hmm, when end of c-ship gets announced after- oder pre-market, don't you think it will gap up to $20, $30 or $40 and a stop loss won't help him?!?
Wrong, IF $10 bln. (which was your initial question) come back to WMILT, that puts WAMPQ-Escrows @ $1000 and WAMUQ-Escrows @ $1.78, not at only 0.15-0.20
Impossible to cover > 44M shorts in time if the end of conservatorship is announced IMO
This will lead to a huge short-squeeze, if not the MOASS
Thank you, I've missed that part. It seems the big boys don't need our votes and moving to Delaware is a sure thing!
The known dates:
03/05/2015 record date for shareholder meeting votes
04/28/2015 shareholder meeting
07/04/2015 end of the 180-day timeframe for the reincorporation in Delaware
Now the question for me is, in which order will the expected events evolve...
When will they announce an M&A? (Conversion of B-Prefs on the same day IMO)
When will they up-list (probably on the same day of M&A)?
When will they finalize the reincorporation in Delaware? Before or after M&A?
Will they really up-list, or are they going to buy a company that already has a ticker on NYSE/NASDAQ and use it?
How long will we have to wait? Will anything important happen on or before the record date this Thursday?
The next weeks will be exciting for sure...!!!
OK then UncleBo was right, let's go to Delaware
THEY don't need our votes...
Thank you for the information, I was wrong about the voting rights of the B-Prefs...
I thought B-Preferreds have no voting rights according to
http://www.sec.gov/Archives/edgar/data/933136/000119312515001790/d845621dex31.htm
(b) The Person or Persons entitled to receive the Common Stock issuable upon Mandatory Conversion of the Series B Preferred Stock shall be treated as the Record Holder or Record Holders, as the case may be, of such shares of Common Stock as of 5:00 p.m., New York City time, on the applicable Mandatory Conversion Date or Remainder Conversion Date, as the case may be. Prior to 5:00 p.m., New York City time, on such applicable Mandatory Conversion Date or Remainder Conversion Date, as the case may be, shares of Common Stock issuable upon Mandatory Conversion of any shares of Series B Preferred Stock shall not be deemed to be outstanding for any purpose, and Holders of shares of Series B Preferred Stock shall have no rights with respect to such shares of Common Stock, including, without limitation, voting rights, rights to respond to tender offers for the Common Stock and rights to receive any dividends or other distributions on the Common Stock, by virtue of holding shares of Series B Preferred Stock.
UncleBo, THEY may be all in agreement, but the problem is, the B-Preferreds have not been converted yet! THEY (the B-Pref owner) do not have voting power at the moment, and retail has to vote for reincorporation in Delaware. THEY want reincorporation in Delaware first, then an M&A together with automatic conversion of B-Preferreds (after conversion to commons THEY have voting power), but to make this happen, first WE (all current common holder including retail) have to approve the reincorporation... IMO!
Great find! This article is a must-read!!!
If Judge Sweeney isn't blind, she will make the right decisions...
B-Preferreds bought by Appalossa, Greywolf and many others...
PRE14A Proxy Statement:
http://www.sec.gov/Archives/edgar/data/933136/000119312515070176/d838601dpre14a.htm
Page 43 Stock Ownership Table
That is a very good sign IMO...
Opinions?!?
Thank you for you WMIH chart! Would you tell me please which charting tool/software/webpage you used (for the WMIH chart screenshot)? Is it free of charge?
TIA
The number of BOD members will be increased, so the number of available shares for rewards must also increase IMO
Perhaps as simple as that: They can't or don't want to move to/work in Delaware. House? Family?
The KKR Commitment Letter was released on a Monday before market opened. So I think they will do the same again. But when? Next Monday, or on Monday the 03/23/2015 after the 3rd year POR effective date? I don't know...
Nice volume between 2.58 and 2.60 today look at L2
http://cdn1.boardpost.net/quote.php
The parabolic SAR in your chart looks good, and the accum/dist line is amazing, even though it is really astonishing in the 3-year chart
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111238209
IMO it's hard to say if the supplied data is correct, and if you really can add the daily shorts to this reported short volume. I think many of the daily short sellers cover their shares intraday. Opinions?
> 44 million shorts will get toasted soon
http://www.otcmarkets.com/stock/FNMA/short-sales
WMIH Chart Update: big sym. triangle left upwards
Chart courtesy of StockCharts.com
As already predicted here...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110804715
...the PPS has left the big symmetrical triangle (green) upwards. I think the PPS can run up to the orange line at $3.50, with first strong resistance at $2.82
RSI is very bullish
MACD also bullish and
ADX with 28 (>25) confirms the current up-trend
Accum/Dist at new all-time high
All IMO
GLTA longs
Last year, same time, we also saw a huge increase in PPS starting at the end of February in anticipation of the 2nd year after POR effective date on 03/19/2014
Here is the chart for February and March 2014:
http://scharts.co/1aqHOcj
But this time I hope ACTIONS will follow!
$2.64 printed, where will it close today? HOD?
L2 $2.50 hit, next resistance at $2.55
L2: http://cdn1.boardpost.net/quote.php
BarChart: http://www.barchart.com/opinions/stocks/WMIH (resistance 2.55 see below)
M&A before shareholder meeting IMO
Otherwise they'd have to say the same boring things as the last two times:
"We have looked at dozens of targets, but couldn't find anything suitable..."
To be more precise: I think between 03/20/2015 and 04/28/2015 (shareholder meeting)
I'd like to see the KA-CHING in bold letters and red
You've got some minutes left...
BarChart all signals say BUY
http://www.barchart.com/opinions/stocks/WMIH
BarChart: WMIH 100%-Buy
Exactly 10 bln.
$1 bln. = $100 for P-Escrows and $0.178 for Q-Escrows
This refers to all the loans specified in Exhibit "Z" in the GSA document:
http://www.sec.gov/Archives/edgar/data/933136/000090951810000371/settlement_agr.htm
Search for (copy this) within the document:
LOANS SERVICED BY JPMORGAN
There are many "SFR" loans, some "Consumer" loans and some "Commercial" loans.
How can we find out more about these loans?!?
If they cannot afford it, maybe the FDIC will help
Nice Bullish Engulfing Pattern formed today, could skyrocket the last 3 days of this week IMO!
You can start at the end because WMB bondholder are not entitled to be paid with assets that belonged to the holding company WMI and were set aside by the FDIC, IF this theory is true.
IMO last chance for shorts to cover at this level!
That would be disgusting! To implement a net worth sweep so that the companies are not able to put aside any capital, and then say, damn the companies are undercapitalized, we have to put them into receivership! Possible, but extremely perverted. But I think the US government is capable of doing that...