https://www.warner.senate.gov/public/_cache/files/7/2/7271bf15-efe3-47dd-8c91-4f49698a0025/1A7E610019A82D022D917530D923D630.4.8.20-warner-letter-on-housing-issues-final.pdf

https://seekingalpha.com/news/3558950-sharks-sniffing-around-banged-up-mreits

There will definetly be a pop of that magnitude. The delay is so the big banks can buy servicers and mbs at a substantial discount imo. Can you recall when a Treasury Sec did not come from GS?

So apparently once again there was a surge of buying friday based on a report to be filed monday. Insider buying time and time again.

Well the dta is half of that imo. But unrestricted cash is 570 million as of march 31st. That equates to about $6.19 per share.

8 K out this morning

https://www.sec.gov/Archives/edgar/data/933136/000115752320000468/a52199347.htm

https://www.reit.com/news/articles/mreit-executives-shed-light-recent-market-volatility?utm_campaign=meetedgar&utm_medium=social&utm_source=meetedgar.com

"the court has the right to deny or review the case before she is given a date"

Nonsense.

Well I wonder if the Federal Tort Claims Act offers a remedy that the servicers can use to convince the Treasury Dept for some relief and quick. If someone (gov) induces one party(homeowner) to breach a contract with another(lender) that is actionable as a tort. The problem is sovereign immunity may apply and lack of liquidity needs to be cured quickly.

Hopefully the trustees of the mbs have the discretion to temporary waive any breaches. Certainly investors must know liquidity problems of servicers inevitably will cause the decline in value of the mbs. Insisting on payment just makes the problem worse imo.

This is an excellent read on the situation:
https://old.reddit.com/r/wallstreetbets/comments/friwc9/mortgage_servicing_crisis_explained/

BBAN, in every jurisdiction in the United States the law has always been that if a defendant does not raise an affirmative defense in the defendants response it is waived and cannot be considered.

Moreover, the bankruptcy code specifically gave Alice and anyone else the right to object as long as it was before the case is closed. Walrath even acknowledged that! So how can an equitable defense of laches even be relevant? Alice was timely per the bankruptcy code which makes it a "law" issue not an "equitable" issue. Walrath gave Marta the right to refile after the golden parachute issue was resolved, but then has the audacity to rule Alice was not timely?

How is an equity claimant to know if he/she has been shortchanged before the end of the case? The LT and employees delayed the case...not Alice.

Beg to differ. Alice's work was excellent. The LT's memorandum/briefs were slop. Andrews written decision was slop. He sidestepped her issues and precedent because he had no ammunition to counter her arguments. That should tell you Alice is correct.

Doubtful that the LT would pay or have to pay the underwriters legal fees. Their was no contractual promise to do so, in the event someone objected to the claim. If there truly is nothing more coming to the underwriters or escrows, the issue of illegally diluting the P's could have been settled simply by distributing 1.4 million (pre split) shares to the p's to make them whole. There is a few million left in the LT, and the 600,000 earmarked for charity could be used to buy those shares today and the underwriters could simply sign something relinquishing their right to share in anything else (and if nothing is left..why wouldn't the underwriters do so to get the matter settled and stop the attorney fees from occuring. Yet the case continues perhaps for the sole purpose of letting chad and doreen and the tab bilk the LT out of more fees.

I am scratching my head wondering why the hell these servicing contracts do not have an all inclusive force-majeure- clause that would cover pandemics. Maybe the servicers are conveniently not mentioning they have such protection, in an attempt to get a big handout from the government.

https://www.natlawreview.com/article/boilerplate-contract-language-coming-to-forefront-force-majeure-clauses-and-covid-19
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Way to go Alice! Everyone should appreciate her efforts. Andrews needs to be called out for not addressing the issues she raised. Although most of the legal work was already done she has to tweak her legal briefs a bit for this, which takes some time and effort on her part. If the appellate court rules in her favor, the LT then can be sued and we can try to go after the professional licenses of certain people. And the board should take note that Andrews did not and could not fine Alice for exercising her right to appeal contrary to what others on this board said.

https://finance.yahoo.com/m/103b4fc2-4d9c-3ae8-ab44-7a66ad6e44c3/boeing-seeks-to-cut-workforce.html

https://www.zerohedge.com/economics/here-comes-next-crisis-30-all-mortgages-will-default-biggest-wave-delinquencies-history

http://www.mortgagenewsdaily.com/03302020_covid_19_responses.asp

https://finance.yahoo.com/news/mr-cooper-announces-additional-aid-185300704.html

Never said anything about escrows. Tepper last reported 1.4 million shares according to https://whalewisdom.com/stock/wmih

I believe that was at the third quarter 2019. In december the stock was around 14 dollars. So you think he unloaded at 9 but not 14. Boardpost had a thread on institutional changes (by Jay). Probably got the info that Tepper sold all from that or some article mentioning what Tepper had disposed of.

There are others that increased their positions. My point was that Tepper of all people would know what Coop is to get if anything yet he sold out at least 15 million shares. So doesn't that say Coop will not benefit at all? When coop was wmih at one of the earnings conference calls gallagher or fairfield said wmih would not benefit fwiw.

Then why would Tepper sell every share?

https://www.zerohedge.com/markets/mortgage-lenders-demand-fed-bailout-after-blaming-fed-forcing-staggering-unprecedented

Absolutely true, unless the feckless equity committee and feckless LT left the fdic off the hook either in the GSA or the 363 sale or via the dismissal with prejudice of the lawsuits.The dismissal required the POR to expressly state what was not to be released and the question remains whether the carve out language in the release was sufficiently explicit to preserve any claim against the FDIC. If the original WMI still exists for litigation claim settlement outside the LT, then how can the LT be making Libor claims?

"mordicai, IYO will FDIC sell off any assets they have control over and now close the Receivership ahead of schedule?"

I do not think the fdic will close the receivership until their Libor litigation is settled or completely litigated.

Alice has the right to appeal Andrews decision to the appellate court. That would take another year which is maybe the reason the LT stated in their recent FAQ that it will take the LT another year to totally be wound up. Perhaps the LT timeline will be shortened once the time expires for Alice to file a notice of appeal.

https://finance.yahoo.com/news/feds-cure-risks-being-worse-110052807.html

Well the attempt didn't work in the early sixties.

https://en.wikipedia.org/wiki/Executive_Order_11110

"We are watching a Federal Reserve take over, in real time. They will soon be back stopping private companies, local and state insovencies.. limitless power over debt."

Actually the Treasury just took over the Federal Reserve given the provisions in the stimulus package.

And the no one flying for a while causes a three billion dollar cash burn for each of the next four months. Wait for the large gaps in the chart to fill.

https://www.politico.com/news/2020/03/27/mortgage-system-collapse-coronavirus-pandemic-152338

https://seekingalpha.com/article/4334697-trouble-in-mortgage-reit-sector-what-everyone-is-talking

https://www.zerohedge.com/political/pelosis-25-trillion-corona-counterproposal-includes-delays-mortgage-car-payments

The bill would also order the Federal Reserve to provide loan servicers with enough liquidity to allow borrowers to stop paying their mortgages for up to 360 days, according to Bloomberg, which adds that "Public housing residents would get a temporary reprieve from paying rent, and student loan borrowers would have $10,000 of debt forgiven."

https://news.yahoo.com/us-government-nationalize-boeing-013447260.html

https://seekingalpha.com/article/4333201-boeing-bailout?ifp=0&utm_medium=email&utm_source=seeking_alpha&mail_subject=the-boeing-bailout&utm_campaign=nl-investing-ideas&utm_content=link-0

I agree. But then the government should be more lenient or eliminate the threat of enforcing the accumulated earnings tax. https://loopholelewy.com/loopholelewy/01-tax-basics-for-startups/corporation-16-accumulated-earnings-tax.htm

Boeing employs 153,000 people. It (or its suppliers) operate in every state. Its former upper management made mistakes that the employees should not have to pay the price for. Boeing shareholders have and are being punished perhaps rightly so for the upper management they chose. Boeing has major defense and space contracts. One can say no bail out, but if nothing is done it creates a lot of hurt to our economy. Why General Motors and not Boeing?

https://www.marketwatch.com/story/new-home-construction-slipped-in-february-before-the-coronavirus-even-became-a-major-concern-2020-03-18?siteid=yhoof2&yptr=yahoo

https://www.zerohedge.com/markets/bailout-or-bust-boeing-stock-battered-bankruptcy-odds-soar

The company was mismanaged. The grounded planes were pushed out too quick to satisfy Southwests needs. The company should have never used its cash stockpile to repurchase shares.

Just think what happens if that $1,000 check per adult proposal passes congress. I bet we will see computer, airline, car dealers etc. doing promotions to customers to bring that check in and they will give you 120 per cent and up credit for it.

Trump is agreeable. When you consider that Boeing has a major operation in St. Louis that benefits southern Illinois, Democrat minority senate leader Dick Durbin (IL) will be agreeable as will be senate and congressional leaders of California and Washington. Boeing employes over 153,000 and has major defense and space contracts. Then consider all the suppliers that are dependent on Boeing. Every state benefits from Boeing one way or another. The aid has to come imo.

https://finance.yahoo.com/news/exclusive-boeing-seeking-tens-billions-202732963.html