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Mordicai, I don't believe your wrong at all. There are many I know that have 4-6 accounts which may add a few more to your projection. I'm sorry as my point was these shares are going to be picked up cheap IMO as the insiders know they can short the stock bringing down the price and the shares will be sold at a reduced market price. I thought at least they would have a set conversion price like they did with NSM. It ticks me off the way they are doing it, thats all. It may cost me a $100.00, but I can afford the loss. I will be very pissed however if the prices rises substantially with in the next two months and see my friends lose money.
Royal Dude, The price will be slammed until after these fractional shares are given away to one of the insiders who will short the crap out of the stock until they pick up all theses shares. Get prepared.
Pursuant to the Amendments, any fraction of a share of Common Stock that would otherwise have resulted from the Reverse Stock Split will be settled by cash payment from the transfer agent after the transfer agent sells such fractional shares on the basis of prevailing market prices of the Common Stock at the time of the sale.
Cute, real cute...Have we been had by JAD52
"Are we waiting to hear that we have been had?"
CWG, "In addition, trust preferred securities issued by bank holding companies will usually allow the deferral of interest payments for up to 5 years."
You may not be looking at a chicken dinner any time soon. Sigh!
https://en.m.wikipedia.org/wiki/Trust-preferred_security
JWW, When the RS takes effect and the PPS is substantially up Small holders that tend to buy stocks that are around a dollar or less will sell out IMHO. The institutional buyers will remain if they see long term value, the stock will trade far fewer shares and day trading will be significantly reduced. Until the NOLS are extinguished we will remain extremely competitive in the marketplace.
nranger, I'm with you, but let's see what a new Corporation, WMBI Inc., does that was just recently created in Honolulu, HI.
Remember our other Corp. over in HI just completed the 10 year runoff a few days ago. I suggest that WMB INC. is a Reinsurance entity. Best of luck to you and hang in there as I believe we are closing in on some interesting times.
William C. Gallagher our Ex CEO. Glad we shed him
Mr. Gallagher is our Chief Executive Officer and has served as a director since May 2015. Mr. Gallagher previously served as a consultant of WMIH since November 21, 2014. Mr. Gallagher served as an Executive Vice President and member of the board of directors at Capmark from November 2014 until May 2015. Mr. Gallagher served as President and CEO of Capmark from February 2011 to November 2014. He was Executive Vice President and Chief Risk Officer of Capmark from March 2009 to February 2011. Prior to joining Capmark, Mr. Gallagher was the Chief Credit Officer of RBS Greenwich Capital from September 1989 to February 2009. Mr. Gallagher is a member of the Corporate Strategy and Development Committee.
Now check out the remarks of the Chief Credit Officer of RBS USA:
https://www.msn.com/en-us/money/companies/total-garbage-rbs-bankers-joked-about-destroying-the-us-housing-market-before-2008/ar-BBM1QJ7?li=BBnbfcN
'Total ... garbage': RBS bankers joked about destroying the US housing market before 2008
Email and call transcripts in a DOJ report released on Aug. 10 as part of a $4.9 billion settlement with RBS show the bank’s chief credit officer in the US said the loans they were selling were "all disguised to, you know, look okay kind of … in a data file."
He went on to say that the products being sold were "total f****** garbage" loans with "fraud [that] was so rampant … [and] all random."
The US Department of Justice criticized the bank for its conduct and trade in residential mortgage-backed securities (RMBS), which played a central role in the crisis.
The DOJ said the bank made "false and misleading representations" to sell more RMBS, adding that senior executives "showed little regard for their misconduct and, internally, made light of it."
When the contagion in the housing market became clear, the head trader at RBS got a call from a friend who said: "[I’m] sure your parents never imagine[d] they’d raise a son who [would] destroy the housing market in the richest nation on the planet."
"I take exception to the word 'destroy.' I am more comfortable with 'severely damage,'" he replied.
JWW, To your knowledge was there any PR or acknowledgment when the 20 Billion was boarded in Q2? If so, I assume the same thing will take place for the Q3.
"If you look at Q2, we boarded $20 billion. Of that, $14 billion was MSRs, $6 billion was subservicing."
IMO Chad Smith has crossed the line on more than one occasion.
... “the WMI-LT shall be established for the Sole Purpose of liquidating and distributing its assets, in accordance with Treasury Regulation section 301.7701-4(d), with no objective to continue or engage in the conduct of a trade or business” ...
... It looks like the WMI-LT may have a problem showing the Court that it has been operating within the US Code ... ? ... hmmmmmm' ? ... what say U', dont_b_kruel' ? ...being on the TAB and all'
Royal, thanks for the link.
Royal Dude, I have book marked the Bonds you have submitted and sent them to my Tax Attorney for review. Thanks.
The only other preferreds I would consider are the Bank of America (BAC.PK) Series K (BAC.PK) and Morgan Stanley Series K (MS.PK), which has the added benefit of being a fixed to float structure.
https://seekingalpha.com/article/4206894-jpmorgan-5_75-percent-forever?app=1
Miss Denny,
It's not just me! Your vote does count, never sell yourself and others that are true to the cause short. We have been manipulated long enough. Stand up and fight if you have the will not to roll over. Trump won because people believed in a better America. Hoping it gets better will never work, we true believers must take action.
My shares are voting NO!
I have been watered down enough and am frankly disappointed in every soul at WMIH and the WMILT...at least to this point. My biggest disappointment is in 2 members those that I supported and defended. They have shown to date that their coming on board was to line their pockets just like the others. IMO their lack of leadership and silence for 8 years is absolutely beyond belief .
I do however support and trust Doreen and Vicky.
I VOTE NO!
Those that know me well would disagree...got bored on BP
WAMULICIOUS, I appreciate the list and recap very much. Kudos to you.
Well Said rp2012881, The decision for him to speak today has more implication than most realize. He can be a Hero or a Zero in the eyes of many investors. No Bla, Bla, Bla, is acceptable.
Bban, Free burgers and fries at Ron's for you and your staff if Tepper makes a peep about WMIH/Nationstar...he has a large staff that is quite capable of a pump and dump, he will keeps his dirty hands out of sight.
Jay Bray's real colors will be seen today, here's hoping he not another loser like Gene Davis!
Lodas, IMO it is as simple as a Name change and a ticker symbol change. Nice and clean with a shiny bow on top. The WMIH name...gag me with a spoon.
New Name,new Ticker, new Money
AZ, after reading your post I believe the K's percent should be .00425 base on the P's being .17 divided by 40 equals .00425....makes a significant difference if you hold a substantial amount of K's. Perhaps the distribution is figured differently than what I am thinking.
So, For Every "One Million' Dollars" the WMI-LT is planning on RE-Distributing, ... I believe that;
For Every Released Class 19 "P" Share with a Tracking Marker Showing, Will Pay .17 cents
For Every Released Class 19 "K" Share with a Tracking Marker Showing, Will Pay .0025 cents
For Every Released Class 22 "uq" Share with a Tracking Marker Showing, Will Pay .0002 cents
Bban, We are playing with 4 jokers in this deck of cards.
I haven't dismissed the S4V possibility as there is obviously a rabbit they're going to pull out of the hat shortly. Way to much difference in where the PPS is and where we should be. 12-1 or no 12-1...what the hell kind of game are they playing. I believe within a couple of weeks something major will be announced.
I don't waste my time even looking at the PPS these days as the game continues as it has for the past 10 years.
A stale fruit cake and a dusty rocker...Life is good. lol
"I have always suggested in a S4V swap value will be added and brought to the company.
But as of today if the market is thinking there will be a dilution and has no idea about value, the PPS would act accordingly until value is shown or proven
But much like K-MART that value will imo not be shown immediately but will be over time in quarterlies and filings!.
RIGHT NOW there is no value known, but unless it is just ONE BIG OL KOWINKIDINK hows come we aren't trading at $2 when that is a known IMPLIED value and IN FACT we are trading very very close to a values that seemingly anticipates an additional 300 mill shares"
It appears you only have Piers...I would agree with your assessment of the Piers...seems you bet on the wrong pony. Most Pier holders I know are bitter because they hold no Escrow shares. Maybe next time!
Dmdmd2020,
I for one appreciate your candor and realize that at some point this BK will end. It does appear, as you say, that the 16th is an important date which may trigger closure. Thanks for sharing your DD as it does give us hope in this moving forward to a positive conclusion. Best of luck to you.
Now Bo, that's a loaded question which will be deflected for sure...lol
"What happened to the monthly distributions which WMIIC is still receiving from participation in the certificates ?!"
Now that's what I call funny.
"DID YOU??==NO, NO escrow!! I have 939ESC992 & 939ESC968 in my acct., with # of shares owned beside them."
FYI...Wayne Cooperman is President of Colbalt Partners, LP
I submit that is a difference of 51,914,797 shares ,which is more that a quarter of our original Outstanding shares. To me, that is quite significant.
JWW, Thanks for your post.
"They already filed a new S-3ASR today as replacement for the S3 from June 15, but with less shares to be registered, "only" 468,243,933 instead of the original 520,158,730 shares of common stock."
S-3ASR: https://www.sec.gov/Archives/edgar/data/933136/000119312518262233/0001193125-18-262233-index.htm
Here the request for withdrawal: https://www.sec.gov/Archives/edgar/data/933136/000119312518262230/0001193125-18-262230-index.htm
WATCH YOUR SIX...WARING OF GAMES THAT MAY BE PLAYED...
In addition, the selling shareholders may enter into option, derivative or hedging transactions with respect to the shares, and any related offers or sales of shares may be made pursuant to this prospectus. For example, the selling shareholders may:
•
enter into transactions involving short sales of the shares by broker-dealers in the course of hedging the positions they assume with selling shareholders;
•
sell shares short themselves and deliver the shares registered hereby to settle such short sales or to close out stock loans incurred in connection with their short positions;
•
write call options, put options or other derivative instruments (including exchange-traded options or privately negotiated options) with respect to the shares, or which they settle through delivery of the shares;
•
enter into option transactions or other types of transactions that require the selling shareholder to deliver shares to a broker, dealer or other financial institution, who may then resell or transfer the shares under this prospectus; or •
lend or pledge the shares to a broker, dealer or other financial institution, which may sell the shares under this prospectus.
https://www.sec.gov/Archives/edgar/data/933136/000119312518262233/d566401ds3asr.htm
Yes, this will have an effect on our short term future...
Treasurys Pull Back Ahead of Auctions
By Sam Goldfarb
U.S. government-bond prices slipped Tuesday as investors prepared for an influx of new Treasury debt.
In early trading, the yield on the 10-year Treasury note was 2.875%, according to Tradeweb, compared with 2.848% Monday.
Yields, which rise when bond prices fall, were little changed for much of the overnight session, before turning higher near the start of U.S. trading.
The Treasury Department is set to sell $37 billion of five-year notes on Tuesday. It sold $36 billion of two-year notes Monday and will auction off $31 billion of seven-year notes Wednesday.
Prices are lower because of "pressure from supply, combined with nothing on the economic-data front" that would counteract that pressure, said Thomas Simons, head of fixed-income trading in New York for Jefferies LLC.
Tuesday's auction is the first sale of five-year notes since the Treasury said on Aug. 1 that it would increase the size of five-year note auctions by $1 billion a month through October, as part of its larger campaign to fund a growing federal budget deficit.
Before this month, the Treasury had only been increasing the size of shorter-term bond auctions at that pace, making its announcement something of a surprise to investors.
Overall, the Treasury plans to borrow $329 billion from July through September -- up $56 billion from the agency's April estimate -- in addition to $440 billion in October through December. The figures are 63% higher than what the Treasury borrowed during the same six-month period last year.
Treasury yields were also supported Tuesday by continued strong demand for riskier assets.
Both the S&P 500 and the Nasdaq Composite indexes reached new highs Monday after the U.S. struck a deal with Mexico to rewrite portions of the North American Free Trade Agreement. While there was no deal with Canada, investors reacted positively to the development, betting it could pave the way to other trade agreements, including between the U.S. and China.
Despite rising in recent days, the 10-year yield remains in the middle of its summer trading range. Since the start of June, the yield has settled as high as 3.001%, on Aug. 1, and as low as 2.821%, on Aug. 23.
Write to Sam Goldfarb at sam.goldfarb@wsj.com
HM, Until I spend time researching the Destruction on FDIC records I have no opinion one way or the other. I think the law has been left ambiguous by the FDIC for a reason to benefit the FDIC. I do not trust any entity of the US Government to tell the truth about anything, The FDIC has been corrupt for years and they and Treasury are my least favorite government entities. Hopefully ItMyOpinon can get clarification on retention and destruction of Receivership records.
I see the Employee's claim as a Red Herring and a delay tacit. Personally I see that these employee's know where the bodies are buried and will get their day in Court. The FDIC Fears them and wants this swept under the carpet. IMO.
Do you agree with ron's assertion that the FDIC cannot destroy records of an institution which it places into Receivership???
2) Do you also agree that WMB became a "true sale" (LOL) so there are no "Golden Parachute" issues re the WMILT and the FDIC???
NOTE: Read itsmyoption's post and it seems to indicate that the FDIC rule was amended so that the records must be kept no less than 6 years after the end of a receivership. That means WMB's records can only be destroyed after Sep. 24, 2024. So instead of destruction of records after the 10 yr anniversary of being placed into receivership (Sep. 24, 2018), the timeline is now 16 yrs.
That would be a great service to the board and I hope you do write the DFIC and get this very valuable information and thanks for considering writing the FDIC.
"I may write letter to FDIC Monday to confirm this."
Well, most betting people would place a bet that we're not going to see squat until after September 26, 2018.
Show us the Payment Jerry. We want to see the link and read it for ourselves. We have not seen the final payment and you know it.
Stop this NONSENSE.
popcorn, do you have any further thoughts at this time?
"How could JPM acquire these assets without paying book value for them?
40B assets at the receivership, 299-40B = 259B, ie the assets acquired by JPM as per their sec reports. Good."
Mostly meat here....
"The language of section 18(k)(4)(A)(ii) of the FDI Act provides that any
payment which is contingent on the termination of an IAP's employment
and is received on or after an institution or holding company becomes
troubled is a prohibited golden parachute. If this payment is prohibited
under the prescribed circumstances, it is prohibited forever.
61 Fed. Reg. 5926, 5928 (Feb. 15,
1996);
see also
60 Fed. Reg. 16069,
16073
(Mar. 29, 1995).
As set
forth
previously, the Trust is subject to regulation under 12 U.S.C. § 1828(k) and 12
C.F.R. Part 359 as a "covered company."
The real question is, are you satisfied with your last response?
"Allow me to eliminate any potential "wiggle room" in my previous statement......
There will NEVER be an S4V sale conducted between the LT/Markers and any other Entity for WMI legacy assets/interests!!!
Satisfied???"
Loop holes and disclaimers are in every document I've seen from the FDIC, LT, WMIH, POR 7, GSA etc. Your statement had a loop hole and I kiddingly pointed it out, e.g., Funny lol
Nothing personal, but I felt you were setting everyone up by being intentionally bold with your proclamation and it would dawn on a few members that WMI has a very short life expectancy.
If there is a share 4 Value exchange that would be great. If not, I will be expecting cash and Preferred shares for my P's and K's. At this point, I'm good, as I don't expect any movement until after WMIH
officially changes their name and ticker to COOP.
I've been in vested in "WAMU" since April of 2009 and have learned a couple of things.
1. Don't every think you can trust a message board poster you haven't met or checked out thoroughly.
2.When a "so called" professional, Dr.or Professor refuses to consider anothers opinion and is arrogant in a return post,they have become a legend in their own mind Everyone should be Leary of Snoutbands.
We are not that far apart in or beliefs, but I do hold a couple of reservations with several posters.
That is probably true today since Board Post has been using the future Company name Mr. Cooper Group Inc. for weeks now.
I'm not sure when the name will officially change, but it will along with the ticker {COOP}.
Funny Post! lol GOOD BYE, WMIH CORP
"I rarely make predictions but i'm going to make one today, August 21, 2018......
There will NEVER be a Shares 4 Value (S4V) "sale" between WMIH Corp and the LT/Markers for legacy WMI assets."
Bban, as I recall NSM was reported to be 1 of 5-6 firms that was servicing for???JPM???DB??? Interesting to say, at least we have been led to believe that NSM was servicing most of the WHI subs Mortgages.
Do they now belong to JPM and we haven't been paid yet. The FDIC is a bunch of crooked lairs.
That's a crazy statement which I believe is untrue, furnish a link please.
"while NSM used to buy mortgages for 1 penny to the dollar."
I will see some Justice at $3.74, not a penny less!
WMIH's high was $3.74 in 2014 ====> chart
schrts.co/678ptW