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Her case was dumb IMO. But....
Her contacts, if you believe her, may have tipped her off. We just don't know. We weren't there, you weren't there.
But to publicly state that she had those back channel conversations makes me think someone may have said something of significance. After all, no matter what we think of her, she is a lawyer who worked for JPM. Are you? Were you there?
Don't malign someone publicly here without the facts, or you yourself could be next in court...
Bop was in court, were you?
She talked to Rosen and the UW lawyers, did you?
$2500 per P. If 75 25.
Your math for commons is about right.
Things pointing to 2.5 x in 1st dist.
That is the conventional wisdom based on the DCR and MOR total of $20.77 plus interest. Will it be 75 25? I think so but we will wait and see on that. Will it be this month, Jan, or Mar? Who knows.
This also coincides with bop's back channel amount (from Rosie is my guess). Bop also contends it will be 75 25.
There could be much much more after the first dist, but I think 25B would make most here pretty happy.
I like our chances but nothing in this crazy life is certain anymore. Do your own DD.
Thanks to LG, AZ, Ron, newflow, and all the patient road warriors. Would be nice to hear from CBA, jiminy, dmdmd. They too have vanished.
Odd coincidence because my wife had a dream last night that her purse was full of stacks of hundred dollar bills. She is clairvoyant and has never had a dream like this before.
God works in mysterious ways. Let's see if this mystery has legs.
Maybe wamupayout was a God glitch and we are going to get paid!
Yes, very strange. Hope the site doesn't have a virus.
Mods, please check the last post.
"I too am stocked up"
There was some sort of glitch. I posted this last post as Boris but it showed up as from a "wamupayout". ??? What is this about? I dont have that ID.
Yep, meat and bop had a job to do and both vanished. Their work was complete. Bop hasnt posted since Aug 21.
Fact is, nobody knows for sure, but my bet is that the UWs and hedgies knew what the hell they were doing. I say the good guys will win in the end.
My tax guy said to line up a good tax lawyer. The IRS will be happy when this is settled, but don't give them more than you need to...
Makes sense.
Yes, those who say they own escrows but really don't are jealous.
Now, if you had say, 195,000 escrows, would you say 24 7 how those escrows are worthless? Ha.
You can't make this chit up. It was like meat saying 20 times a day here how he owned all those Ps, and yet bashed how they were worthless.
And thanks to this board for keeping things under control, and providing this venue for our important investment.
When we get paid we should all donate some money to this board for their work too.
This investment requires patience and steel balls. Remember the big boys want their money too.
So we all wait together. Our day will come.
So why does the LT FAQ state this....
"Disputed Ownership Fund” pursuant to Treasury Regulation 1.468B-9(c)(2)."
The Feb MOR states the fund has 20.77B.
Then the FAQ says:
The taxation of Disputed Ownership Funds is a highly technical area of tax law for which there is very little authority or interpretation.
Of course there is much more if you ever read....such as to get a tax advisor etc.
So, why these statements if the fund was not potentially coming back, hmmm?
And of course there are other avenues for payments.
I only have to be right once. I like escrows' odds.
So now its about our death?
Geezus you are a cheerful sort. Look, they are all getting old too, hedgies, uws, and they just want retail to die so they dont have to pay them?
Lord help us. This world is nuts.
Good post sam. The UWs are no dummies, and they know whats behind the curtain more than anyone does.
I also am in the 75 25 camp, at least with the DCR 20b.....plus interest. I think Rons 2.5par is plausible, same as Alices back channel info.
2.5 par would make for a good Christmas eh?
If there was nothing coming back then why did the FAQ reference this?
The taxation of Disputed Ownership Funds is a highly technical area of tax law for which there is very little authority or interpretation.
If there was nothing, why mention this? The Feb MOR points out 20.77B in the fund. Nice start!
Release our money. Thanks Ron for pointing it out.
This is nonsense to think preferreds will be left out in the cold and commons will get everything.
I wish people would stop spewing this garbage just because they dont have preferreds and loaded up on penny commons.
Saying something this preposterous is like saying the hedgies and UWs are stupid.
Geesh.
Nightday....I did not proceed due to cost.
But I may still do it if we don't get some news soon.
I still find it hard to believe that the hedgies just wrote this off when they stood to get billions on escrows. Something doesn't add up. Maybe they know something we don't about a coming event, or they already got paid hush hush, or they just gave up and took a write off. You guess....1, 2, or 3.
For a law firm to take this on would require a tremendous amount of research to get up to speed. Hedgies can afford it.
Your broker cannot determine when escrows will be removed from your accounts. Payments likely will come in phases since there are several avenues for money. Make sure your escrows are in your will. They will be around for a long time, paying out nice checks in perpetuity IMO.
Its not going to be a one time wam bam thank you maam.
What date was meat banned?
Alice vanished from bp mid August.
If you pay LTCG on your money the IRS will gladly accept it.
I'm a fighter and will only pay tax on this if the court requires me to.
IMO any escrow payment is a settlement and non taxable.
We never bought these escrow shares so there is no basis to be considered LTCG. They were given to us as a settlement for our releases.
Thus, any payment is settlement money. I think the IRS would have a tough time fighting that in court.
Many on BP think 75 25 including Bop.
A few think commons get it all. I believe it will be 75 25 for part of it at least. Those who only have commons will disagree I know!
Seems logical that the big boys want this to happen this year for tax reasons.
I also think this is considered a settlement and thus non taxable. I will fight the IRS on that issue.
Lets hope the UWs are right. Seems they would have known what lies behind the curtain.
Serafino, Ron is a good guy and puts a lot of time and effort into his research. He is very confident of escrow success.
AZ too is an asset to us and yes, he does have escrows.
Nothing is certain, but the coming months should prove to be a happy time for us.
No doubt the hedgie lawyers would have filed suits by now if they thought we were getting screwed.
They have billions to gain so dont think they forgot about this. They know more than we do...
$16B is nothing if you know the facts. I expect from 40-400. 16B isnt going to hurt any of us. The junior bonds deserve to get paid. And so do we.
Ok, sorry Itsmyoption. Good job!
Let us pray this is the breakthrough communication we've been waiting for....has more credence than those backchannel rumors that never materialized!!
$16B is chump change compared to the massive asset money.
First time fdic admits assets!
Does anyone realize what a huge statement this is? Assets that were not transferred?
Good job Madbadger.
In addition, even though FDIC entered into the Purchase and Assumption Agreement with Chase, there were several assets and many liabilities excluded from the transfer from FDIC as Receiver of Washington Mutual Bank to Chase. The Receiver has been diligently resolving those assets and liabilities to the benefit of the receivership estate, and will continue to do so until the Receiver is prepared to terminate the receivership. The current dividend status may be found on the public website for the receivership. FDIC does not disclose non-public information.
Cookacrook, sunshine reconfirmed this info on Sept 15 but has asked for some reason it not be reposted. It was just reconfirmed by his broker and that's all we needed to know.
Don't go out and buy a new car yet. After hundreds of false alarms let's believe it when in our accounts. But this is certainly a glimmer of hope. Who knows for sure though!
He called his broker yesterday! So not old news. It was confirmed, again.
Things are happening folks.
Yes AZ, now we wait for signatures.
It sure seems like all else is in place for the next distribution. Our hopes have been dashed before though so let's not get too cocky or we could get it chopped off! Yikes.
The big boys want their money. The IRS wants its taxes. We want to get this monkey off our backs!
Hotmeat, until it shows up in our accounts nobody really knows.
As AZ said, it shows that brokers were told our escrows were still viable and would receive other payments. That of course is very significant.
We just dont know the When. But rest assured the hedgies want their billions much more than we want our measly millions. They are no doubt working behind the scenes.
Let's see what happens....
Was this posted here?
Sunshine conversed 30 minutes with his brokerage Corp Action team TODAY - 9/15/21.
Re: E Trade and Computer Share phone call
Quote from: myplace on January 24, 2020, 05:43:59 PM
Sounds like Great news...
Stockssss Thursday, 01/23/20 03:21:35 PM
Re: None Post #609106 of 609307
Yesterday I took some time to contact the head of trading department at E*TRADE to clarify and confirm a couple facts.
1. To triple check that the Alert stating “this is not the final payment” was not a mistake.
2. That the statement in the alert “This is not the final payment” was forward looking.
3. Confirm the date of the Alert and who originated it.
What I found was:
1. The Alert was a directive from the “Agent” and therefore the statement did not originate from any of the brokers.
2. The Alert was in fact a forward looking alert as it was given to the brokerage firm from the “Agent” simultaneous to the release of the shares we received at the close of the LTI as the scheduled “final distribution” on the 10th of January. This payment hit accounts sooner or later depending on the institution.
3. The “Agent” who sent the alert was in fact Computer share. Computer share is the Transfer agent for Mr. Cooper. They can be found here:
http://investors.mrcoopergroup.com/TransferAgent/Index?KeyGenPage=430633
Then I decided to call computer share since I am a share holder and they house shareholder information. I am allowed to speak to the transfer agent with regards to my shares, and ask questions with regards to “Alerts” they sent to my brokerage firm to forward to me.
What I found was quite interesting after the verification process:
Me: Q. My brokerage E*TRADE confirmed there was an Alert stating “This is not the final Payment” coinciding with my last payment of shares that was paid on the 10th of January. Can you confirm that this alert is correct.
TA: A. Mr. “Blank”, hold on while I check the status of the company Mr. Cooper for that date.... on my screen it says the last payment from the Litigation was paid on that date. So those shares should be the final payment.
Me: Q. Yes, however, this “Alert” stating this is not the final payment was confirmed to have been instructed by Mr. Coopers Transfer agent. Is that not Computer Share?
TA: A. Yes, Sir, We are.
Me: Q. So, what I am thinking is, the referenced “Alert” stating “This is not the final payment” is with regards to other assets that should be returning. You see from the records we have publicly, there are clearly assets that have not been distributed back to equity. I along with many other people have been trying to verify this fact. Also, if there are safe harbored assets then they must be paid for. None-the-less, if your agent gave this alert to my brokerage firm E*TRADE then that means you directly made me privy to something forthcoming. I would like to confirm if you know why Mr. Cooper being your client directed you as their transfer agency to give such an alert indicating something outside of the Litigation trusts final payment?
TA: A. Sir, I can understand the confusion, please give me some time to ask around and check. This is unusual. Can you hold for a few minutes?
Me: Response: yes, certainly.
10-15 mins later...
TA: Response: Sir, yes we sent the Alert to the brokers as part of the final Litigation Trust payment. This “Alert” was directed by Mr. Cooper. Also, I can confirm shares are being processed. I cannot give you a date, but they are being processed for distribution to certain shareholders.
Me: Response: That’s great news! So if I may confirm once more. Just to be certain. That Alert was sent by Computer share as the acting Transfer Agent for Mr. Cooper?
TA: Response: Yes, that’s Correct.
Me: Q. Can you confirm if this is common stock or preferred shares?
TA. A. I cannot confirm that.
Me. Q. Can you confirm whether these shares for distribution is connected somehow to multiple shareholders or just one? Like is this a large distribution such as in consideration for a sale or purchase from a large pool of investors? Please keep in mind, I understand the company Mr. Cooper must make information open to investors via filings, and that some information is not public, that said you have made me privy to a payment and now told me shares are in transit. It seems there is some latitude given to these special circumstances and I am trying to pinpoint if these shares are for more than let’s say 1 or 2 firms like let’s say KKR.... and more for hundreds or more shareholders at once...
TA: Response: what I was checking on earlier was with respect to such an Alert we have. Again I cannot specify how many shareholders are to be receiving these shares, just that shares are in transit. You are correct, an “Alert” was given and I believe this is the best answer I have at the moment to give.
Me: Response: I understand. Thank you for letting me know. I think I got more than enough information. Have a great day.
TA: Response: your welcome, you too.
End call.
Please note I was not able to get clarification on payment dates however, I was able to confirm the "Alert" stating "This is not the final payment" was given on January 10, 2020 to the brokerage firms by the Transfer Agent, Computer share at the direction of Mr.Cooper Group.
I was also able to confirm that the Final LTI payment was indeed done.
This is significant because it confirms Mr. Cooper is the one paying us in the future.
It also confirms there is another payment!
Best
============
Thanks Place for your support and efforts to confirm that. As the matter of fact Hold mentioned on IHUB couple of days ago, 4 possible sources to pay us:
1- WMIH
2- Trust
3- FDIC-C (JPM)
4- FDIC-R
I applaud AZ, good for him.
I hope he makes 10 figure gains. He invested wisely. It's Bray and the big boys who screwed us. And Walrath and Bair and Dimon and on and on.
I remain hopeful, but am no longer optimistic about escrow chances. The fix is in. I knew that back when Dimon found that Wamu bonus of 30 B, and Walrath let him keep it...crickets from her. That should've been distributed back to the shareholders. She did nothing. And Dimon laughed his ass off about it. All the way to the bank.
Yeah, screw the little guy.
Ya gotta have money. That's what Bray and his buddies are saying too. Buy more COOP. BUY BUY BUY. Pump up our gains, for COOP is the tell. Make us rich. Screw those Wamu shareholders and employees and their foolish escrow dreams. Screw em good! Let's get rich. Cuz we've gotta have money.
This saga gets sadder by the day. Screw the little guy....the new America.
So now it's all about COOP.
Sadly though, many here did not have the funds to be buying shares of COOP. So they anxiously and sadly watch it climb, as their escrow shares languish in oblivion....dreams that never came true. Now it's "don't count on the LT". And soon it will be "don't count on escrows, just buy COOP....for it is the tell."
I can understand why so many are frustrated.
COOP is WMIH.
Guess you don't realize that. Where'd you go to school at???
No lawyers! Let's all write goofy letters.
That's sure to get us paid. The goofier the better. We need to draw attention to a payout. Maybe SNL will do a skit about WAMU. They could have Walrath and Rosen comedians laughing with Dimon in a cameo appearance jumping up and down saying how they fleeced shareholders out of hundreds of billions.
It would be a real hoot.
Ps would become COOP Ps and be tradable at 1k.
We shall see. 13 yrs of nothingness makes one jaded. Pray. Think abundance people.