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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.
Escrow money should be considered a settlement and tax free. I think you could put forth a good argument with the IRS about that money being a settlement....
The lawyers are starting to circle overhead and they know it. They need to make their move soon. Escrows must be dealt with. So sayeth Tepper and the boys....who are also tired of this stall tactic. Enough is enough.
When WAMU turned down Dimons offer of 8 bucks a share, he said, OK. Then I'll just have my buddys rig it so I pay zero per share! Plus I'll find another $30B and rub their noses in it. Ha!
True! Doubt Dimon makes it to the pearly gates....
Dimon won't be so happy because God will ask him why he fraudulently weasled thousands out of their jobs and savings.
Dimon may not have a conscience now, but he will pay the price, someday....
Wow AZ that is great news on your COOP shares.
Sadly I and many here did not buy much so we have not enjoyed such amazing success. I am happy for you.
It's been a rough 13 yrs for us all. I think in part due to the stress of this risky investment, many have gotten sick, divorced, died, and lost a lot. I just hope that we see some restitution soon. I am hopeful but not very confident. Our country is mired in corruption and it appears those who hold our assets are just riding this out so they can keep it all. But they are all getting old now too so maybe it will all start to come to the surface soon. I dont think Dimon wants to go to his grave knowing he has screwed over thousands of innocent people.
We can only hope he sees the light...
Steadfast AZ, bop, sunshine, dmdmd, et.al are still all very confident.
Sunshine has had some very well designed posts online that may be something worth considering.
And if we dont get escrow money at least those guys are helping to keep our sanity with hope.
Is there justice anymore in this country?
Quote from: sunshine on Today at 12:37:20 PM
So why PIPE?
As we now all know it is a PRIVATE OFFERING made to a specific group of "accredited" investors, like private equity funds, financial institutions and I include DST, the WMI Liquidating Trust, as well.
And why COOP?
- Came from the same family tree - WMI, INC.
- COOP has the "goods" to exchange for WaMu's monetized assets, specifically 9.4 millions shares of preferred equities that can be subdivided into various flavors to fit the needs.
- The transaction is MUTUALLY beneficial in the following:
(1) We, the beneficiaries to the WaMu monetized assets GET to receive our FINAL DISTRIBUTION in the most tax efficient manner (I.e. Cash & In-kind Distribution which ALLOWS us the TIME & PACE to dispose of our "in-kind" distribution part for tax management and need purpose).
(2) COOP then GET a CAPTIVE opportunity to raise a "HUGE" amount of capital ( be it $ 10 B or $ 600 B , really doesn't matter).
My point: We have been "PATIENT" ( not by choice of course) up to now and I don't see it to DRAG on too much longer. Remember, the LONGER it takes, the BIGGER the $Recovery
Very nice nranger and agree.
All the docs and filings in the world arent going to dump millions into our accounts. Lets be honest.
We need a miracle. Sick of the BS predictions. The banks fdic gov and judges are corrupt. Period.
Is it August 1st yet?
Nranger. I have sought legal advice and they said I should save my money.
Of course they couldnt possibly know 13 yrs of details like we do. And paying them to do all that research would cost a fortune, with still no definitive money coming back.
Go to church and pray a lot. We need a miracle.
I got a similar letter from Dimons office.
"Mr. Boris Spider(bspider@gmail.com)
From the Desk Of:
Mr. Jamie Dimon
JP Morgan Chase Bank New York
270 Park Ave. New York City
Attn:-
We wanted to inform you that COOP is the tell and you will be receiving $60,000 for each of your P escrows.
Please contact our private wealth client office asap.
Thank you.
So you wonder where the money went huh?
https://brandnewtube.com/v/6las4Y
If bop is right, $60k per P would allow many of us to buy a small town.
I am hopeful but those numbers just aren't the real world these days. Corruption rules.
Sad. I just dont see how they can get away with not paying escrows. There will be money coming, but I doubt I will be buying a town.
Just make our shares tradeable and most would be quite happy.
Ps would be tough to value since last value was $1300.
Qs could be 1 to 1 Coop, etc.
Yep, just make them tradeable. Anything over that is icing.
Has eljuez post been posted here?
Sorry if I missed it here. ? / ~
Looks like this is his attempt to put a nail in the coffin. COOP is the tell. It may be all we have left if you believe him. ? , & Sadly, many did not have funds to buy COOP when 5 bucks. So it is not "the tell", for them. ? ] _
Quote from: eljuez today:
Ditto. Maybe it's time for everyone to just get over Pastor Jim "Alice" Jones' People's Temple hallucinations and acknowledge reality, however nasty it is? Or maybe just go ahead and keeping drinking Bop's Kool Aid? Like it or not, we all got screwed, fair or not, but there are no more assets and you can't just put Humpty Dumpty back together again. Ever. I tried as best I could. That's the truth. . . So ya'll go on believing in fairy dust. That's your right, but I say, without personal rancor to those who have demeaned me: Grow up!
Temocat. I cannot do PMs here.
But the answer to your question is unfortunately, no. I hope I am wrong. Remember that Walrath said at the BK closure that it was highly unlikely escrow holders would ever get paid anything? I don't believe she just meant from the LT....as some argue. I believe she sold us out.
We were up against ridiculous corruption by the courts, the lawyers, the government, the banks, the hedgies, FDIC, and on and on. Welcome to our new 3rd world country.
Now, is there a chance we could see escrow money? Of course. Keep the faith, but don't hold your breath. And don't quit your dayjob.
I appreciate all the hard work done by so many here. It's been a tough 13 years to say the least.
Their tactic worked. Delay delay delay and they will all go away.
And the banksters laugh all the way to the bank.
May Walrath Dimon and Bair rot in hell for what they did.
Dimon gave Holder a $77mm salary job.
Pretty good money huh? Unbelievable corruption and they all got away with it.
Dimon: "Thanks for the great deal on WAMU, Eric. Here's a nice "compliance" job for you in return."
http://corporate-history.blogspot.com/2014/09/eric-holder-takes-77-million-job-with.html?m=1
She did the bidding of Holder.
Obviously. She was put into that position to cement the deal for Dimon. Holder subsequently got a huge paying job with JPM.
Well now, isn't that special!
Walrath knew about the unexpected 30B bonus Dimon "found" and she did nothing about it.
What does that tell you about her involvement/level of corruption? Not to mention the 4B deposit from the holding company that she also allowed to be swallowed up.
She should go down as the worst judge in the history of financial cases. How does she look in the mirror?
Jhd, nobody knows.
And if they say they know, their state must've legalized cannabis.
I think legal power will soon come down like a sledgehammer on a cockroach.
And don't think for a minute that the hedgies are going down without a fight.
My biggest fear from day one has been the corruption of our government, related agencies, and the banksters. We are up against a lot folks.
Pray. Think abundance. Don't hold your breath or quit your dayjob.
But above all, keep the faith.
For those who believe that JPM got a 100 yr old established bank in its entirety, plus all the WMI assets,for a billion dollars:
I HAVE SOME SWAMP LAND IN FLORIDA FOR SALE.
Also, don't forget the retained earnings we will get, which is now close to 30b.
Please dont buy into the hype. We are fine IMO.
By the way, the JPM DB FDIC FED DOJ cabal are a bunch of thugs.
goodie, thanks for the PM.
I do not pay for a script so cannot reply however I may get one since I receive PMs.
I feel good about our chances for recovery, trust me. But like the Ringo song, It dont come easy.
I am willing to wait for July, but much after that I think I might have to let the dogs out.
Thank you continuity...but.
I'd rather go it alone or it gets too complicated. If we get the kind of money we are entitled to I will have no problem paying the fee.
I have to go dark on that endeavor.
Not going it alone.
I feel it is for everybody. I do not want the class action ambulance chasers to pounce. Then we get a couple pennies and they get the rest. Been there done that.
I have plenty of escrows and will gladly give 40% of it for representation.
Regarding lawyer inquiries.
It's been requested that I not discuss this online or elsewhere.
Rest assured I will not put us in delay jeopardy. We will wait till the time is ripe.
Lets see what the next couple months bring. I still have confidence in escrow payments, but my patience is wearing thin after almost 13 years.
Intuitive.
PM your email and I will contact you about your request.
I am a realist.
I think we will get paid, but I realize we are up against grave corruption and the odds are tough.
Whats bizarre about that? Does a realistic approach bother you? Also I do not think $10,000 per P will happen as someone said. But par plus is possible. And I dont think money will be released without someone stepping up to help kick some ass. Distribution will not come from the goodness of their hearts. We will likely have to fight for it. Got it?
Give me your next date.....
Ding ding ding. We have a new date.
Aug 1. Come on man! Such a relief to get another new date. I always look forward to those.
Look, I do believe we have a decent shot at escrow payment. Relax and it will come when we least expect it, with no fanfare.
No offense to the prognosticators but these constant new dates are killin me!
Hang in there folks.
LP. I agree, but people in the know sounded quite definitive about this. It was disconcerting to hear from a company officer. I do believe he was telling the truth. Whether those in the know were correct remains to be seen, but so far they were right.
PP...I spoke with Delgado myself.
This is what he told me word for word right after the merger.
"I spoke with people in the know about the wamu escrow shares, and unfortunately they confirmed the escrows will not be receiving any payment in the future."
I suspected foul play when COOP's Delgado said escrows would get nothing. He said that right after the merger. Seemed a bit strange that he would know that kind of information about the bk.
Who knows. Rotting carp.