Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Shaking the Tree and Planting the seed of Doubt!
Mr. Cooper is Armed with the Sword(WMI)and Shield(XOME!)
Debtors is also plural form. Meaning more than one.
Debtors and Debtors’
Large, I can’t recall you ever mentioning that you love your timely signed releases. Can you elaborate? Lol
Up, Jamie D. just talked about a possible Recession in 6-9 Months a few days ago.
I already Noticed last November 2021 when Corporate America started Shifting their Money into Energy. That is the Precursor to the beginning of a Recession.
What I Termed the “Financial Fissures” starting to form before the Quake.
Very true and I agree with your sentiments.
J, that’s what up, Congratulations! That’s quite an Accomplishment. That was always my Dream and unfortunately I know for a Fact that I will Never, Ever, in this Lifetime will reach that Echelon.
Even though I played with Options and have earned decent income, I like the old way and I rather stick with that way too.
Good Fortune to You!
The old days is used as a ruse. It was planting of the seed to lead you to believe in the old ways of investing and thinking. Buy Stock and Hold onto it and you make money. To what it is now. Which is manipulated and controlled.
An example, if you Buy and hold stock for 10-20 years, you’ll find yourself right back at the very beginning. All Sad, with an Upside Down Frown on your Chart, wondering what to do..
Instead, if you invest in Options, a “New” Form of Investing that just started in 1973. Lol
In the same time frame, with that same cash investment, you can generate an amass amount of wealth Investing in a coupon of the stock, without actually owning the stock. Always being Up and having an Alpine on your Chart.
Good Luck for those who Hope and,
Good Fortune for those who Take Action!
Xoom, I’m glad to read about MIA, I literally thought about him the other day. How his daughter is doing and if he ever got that Lexus he wanted. Lol
Also, I wanted to taste some of Inca’s Zinfandel.
Yeah, once upon a time...
Reality is I’ll never get know or meet anyone so I’ll be forever wondering and wishing them well..
They Fortified Themselves Properly.
Did away from the Banking, still having agreements honored as part of The GSA and The Plan.
Received Tax Refunds and Tax Credits.
Restructured their Business and Made It Better! Still Earning Interest in what everyone is Believed to be Losses.
Sheeit my only Regret was not Buying More.
I don’t think they’re going to Sell just yet. If that times comes, they’re their Best Self Customer/Investor. They will own their own stock just like WMB. Just my WAG.
MrCooper Group has another Trick Card up it’s Sleeves. XOME!
When Defaults increase so will the Value of Xome so their analysis is to plant the seed of Doubt. Sell sell sell all the while they Buy Buy Buy!
Nice Play of Texas Holdem! Pun intended!
Interesting.
Small world! Also interesting to see that there is a Yahoo message board for Pilgrims SHs – not like the glory days of the Mirant board – but perhaps a path to organize smaller holders to push for equity committee. Will plan to call tomorrow to discuss.”
Wamuq had a Yahoo Boar once upon a time.
Proof that they use the boards to push the agendas.
It’s not. It’s what creates wealth for some and what takes it away for many.
Preying on inexperienced shareholders and Options Contracts Investors.
Go COOP!
Quarterly 10/26 10am
I believe the second distribution came in 2015. We received shares and cash.
I forgot to add Series I and RP.
I remember the Preferred Assets had there own entity in the Caymans. Series R. Amended Series J,L,M,N. “L.L.C Preferred.”
I remember the Preferred Assets had there own entity in the Caymans. Series R. Amended Series I, J,L,M,N & RP. “L.L.C Preferred.”
Another thing that is mentioned at the very end is the advice to sell if you don’t want to invest in the time of up to six years for Litigation Trust.
Yes this is the site.
Newflow, this is very interesting because it states that upon reorganization we were simultaneously given 1.0 unit of a beneficial interest to the Litigation Trust. It also refers to WMI Inc. as a Grantor Trust.
After the Chapter 11 filing on September 29, 2008, your Washington Mutual Inc shares changed from ticker WM to WAMUQ to indicate bankruptcy status. On March 19, 2012, WAMUQ emerged from bankruptcy. The fomer common shares were cancelled and instead former common shareholders who opted in to the bankruptcy proceedings received the following for each share of Washington Mutual Inc:
An initial distribution made on March 23, 2012 of:
0.03349842 shares WMI Holdings Corp, ticker symbol WMIH
and
1.0 units of beneficial interest in the liquidating trust for Washington Mutual Inc (a grantor trust)
A second distribution made on August 1, 2012 of:
0.00076346 share WMI Holdings Corp, ticker WMIH
A possible distribution on March 27, 2012 of a rounding up additional share of WMI Holdings Corp, if applicable.
WaMu
Note that you only received the distributions listed above if you affirmatively consented to the bankruptcy reorganization. If you did not opt in, you will receive nothing at all.
Because the units of beneficial interest are non-transferable, no market exists to determine their fair market value in an established trading market. The holder of a beneficial interest must report his/her share of the income and expenses of the liquidating trust until it is terminated, which is not expected for three years. After the remaining assets are sold and the secured interests and higher priority claims are paid off, the common shareholders will receive a pro-rata share of whatever is left.
The WMI Holdings Corp is holding the residual assets of the Washington Mutual Inc holding company which did not go down the tubes with the bank. There are some net operating loss carryforwards and a reinsurance subsidiary which apparently still had value.
How do you account for these changes? In the absence of an official tax opinion, we advise the following:
1. Not a Worthless Security. This reorganization does not meet the Internal Revenue Code definition of a worthless security, so you cannot write off any partial loss of value before you sell it.
2. General Allocation Rule. The general rule is to allocate your cost basis for Washington Mutual Inc-WAMUQ to the two new securities that you received in proportion to their relative market values on the first day of separate trading (or in proportion to their relative market values based on actual cash collected.)
3. Non-Transferable Means No Market Value. Because there is no market value available for the non-transferable beneficial interests in the liquidating trust, you will not know their value until the trust is dissolved in three years and you know what actual distributions you received from it. Therefore, you cannot allocate your basis between the two new securities until the dissolution of the trust in three years.
4. No Estimates. The trustee has not published any estimates or projections as to what the common shareholder beneficial interests may expect to receive, if anything. IF the trustee publishes an estimate before the dissolution of the trust that the common shareholder beneficial interests are unlikely to receive anything, you can take that as an indication that the fair market value was zero. Then all of your basis could be allocated to the WMI Holdings Corp shares.
5. In Case of Sale. If you sell your WMI Holdings Corp shares before the trust is dissolved in three years and before the value of the units of beneficial interest is known, we would advise treating the sales proceeds as return of capital. Do this by allocating as much of your WAMUQ basis as needed to the WMI Holdings Corp shares in order to recognize no gain or loss. This defers recognition of the capital loss until the trustee gives an indication whether the units of beneficial interest will be worth anything at all. Cash distributions that are subsequently made by the liquidating trust would also be taken as return of capital until the time that the trustee states that no more payments will be made and/or dissolves the trust.
6. In Case of No Sale. If you do not sell your WMI Holdings Corp shares until after the trust is dissolved in three years, you can allocate your WAMUQ cost basis in the normal manner. Take (1) the fair market value of 0.03426188 share of WMIH on the future date that the final value of the liquidating trust interest is known, plus (2) the actual cumulative total cash distributions per unit of beneficial interest, to arrive at (3) the total value received per WAMUQ share. Allocate your WAMUQ cost to each of 0.03426188 WMIH and one liquidating trust unit according to their respective percentage of the total value received per share.
7. Cash in Lieu Payment. If you received any cash in lieu payment in 2012 from the sale of a fractional share of WMI Holdings Corp WMIH, we recommend treating this payment as return of capital by allocating as much of your WAMUQ cost basis as needed to the WMIH fractional share to offset exactly the cash in lieu payment. This will end up with recognition of no capital gain or loss. This avoids the situation of paying capital gains tax when you know you have a big loss. At the same time, you are not prematurely claiming a capital loss before the final cost allocations are known. Remember to deduct the cost you assigned to the fractional share during your basis calculations above.
8. Trigger for Capital Loss. After you have sold your WMIH, the trigger event to recognize a capital loss for your remaining basis will be either (1) the trustee report of no value left for common shareholders in the liquidating trust, or (2) the dissolution of the trust with a final payment. If you do not sell your WMIH (and the liquidating trust units have no value), there is no capital loss to recognize--all your WAMUQ cost gets carried over to your basis in WMIH.
8. Be Consistent. Always be consistent in your tax treatment. If you sell your WMIH shares and claim all the WAMUQ basis at the time of sale (not that we recommend doing so), do not allocate any of it to cash distributions from the units of beneficial interest later on.
9. Cost Basis Corrections. Some brokerage firms have been assigning all of the WAMUQ cost basis to the liquidating trust units and showing zero basis for WMIH, because the allocation is not known yet. If you sell your WMIH shares before the value of the liquidating trust units are known, the Form 1099 would show zero cost basis for WMIH. In this case, simply report the correction on your Form 8949 and show a corrected cost basis equal to the sales proceeds.
10. Lesson To Take Away. Unless you think there will be a lot of value left at the end, sell while the stock is still trading so that you can claim the loss right away and not be tied up in bankruptcy reorganization and liquidating trusts for six years.
Nowhere did I assumed it was pertaining to Wmi Inc/Wmih/Wmilt. Before you jump the gun read thoroughly before answering.
The question in a more simplified manner.
Are the notes from the profits of JPMorgan before or JPMorgan including WAMU and WMB Subsidiaries after Bankruptcy? It’s all about JPMorgan and it’s subsidiaries here no one else. Im not discussing or even mentioning WMI Escrows. You got that covered, even negative attention it’s still attention and a form of Marketing.
Go Common Equity Interest! Old and New!
I wonder if if all JPMorgan Chase or also in part JPMorgan Chase/Former WAMU and WMB Subsidiaries. Where the notes before WAMU of After?
T, R you from NYC?
Please, $1.1 Billion Dollar combined Fine.
This is equivalent of paying a Parking Ticket compared to the Capital Gains and Real Money they made Manipulating the Markets. This is not Great News and $1.1 Billion Dollar fine is what we’ve been waiting for all these years.
1.1Trillion Dollar Fine EACH, now we are talking. Fine them like they fine Us out of our own existence. we can’t get jobs, licenses, apartment rentals, mortgages, credit cards, etc. Did I mentioned we can’t get no Employment? Give Them Real Phoking Fines! AND RESTRICT THE BOARD OF DIRECTOR MEMBERS AND EXECUTIVE FROM HOLDING BOARD OF DIRECTOR JOBS AND EXECUTIVE POSITIONS. RESTRICT THEM FROM HAVING A STATE OR FEDERAL JOB INCLUDING FEDERAL AND STATE ASSISTANCE FOOD, MONEY AND EDUCATION GRANTS AND MONEY!
RESTRICT THEM FROM EVERYTHING LIKE THEY DO TO MINORITIES!!
$29 Billion Cash does not disappear without anyone catching feelings and screaming, “Robbery!”
That’s Facts.
This is not over.
Peter even boasted how they Prepared for the Take-Down.
I myself have been checking the filing Status not the Rumors.
WMI inc also known as “Debtors in Possession.” What is that Debtor in Possession of? What every day Equity interest earning assets needs to keep functioning for the Debtor to be Managing and in Possession of?
May or might, the possibility of or not, may not be or Maybe all Open Ended.
Nothing is going to happen this year that involves the old estate beneficiaries. We’ll see by end of 1st Qtr, when it’s Tax Filing Season and what Tax ID and Tax Group they file under. See if they file under Nation Star or WMI Inc., now known as, Mr. Cooper Group.
What about a Bank making false statements to the a Public and Government Officials? Don’t act like that does or hasn’t happened.
You put too much Trust in Professional Liars.
I Believe Nobody and I don’t Trust anything that’s starts with the letter “P!”
Pastors
Prosecutors
Police
Prostitutes
People!
Now, I Plea, the 5th Amendment Taking!
Keep my mouth Shut and Don’t Ask who’s Paying,
WAMUHOO! Is what I’ll be Cheering! WAMU who? Is what they’ll be hearing. Give no answers and then I’ll be Disappearing,
With Pretty Young Things in the Caribbean.
Enjoy your Options.
Metaphorically speaking, I’m Putting the phone down now, but later on I’ll be Calling and start reaching.
You know People Lie Right? There was nothing for Common yet we received Stock in the New Company. You put too much trust in Strangers. Especially well dressed Liars! It’s their a Job to Lie!
Do you remember the Fed Statistics during the Planancial Crisis. Everything they learned from that Crisis they went and used it during the Plandemic. People paid their Credit Cards and not their Mortgages. They would rather keep up with their lifestyle and rent than have a place to live.
We’re good until 2026. Notes are due in 2027. NOLs will peak and best utilized between 2024-2026. It was in the graphs in the very beginning.
I hope after following this debacle your not falling for Their Bullsheeit Lies and are Ready for their a Hustle. “The Crash”
The Stock brokerage firm you use have all the history regarding your Buys and Sells. What you purchased and what you sold. That information is forever is their possession and will not be erased. Just so you know, the Holders of the Canceled stock are still the Beneficiaries of any return back to the Estate. Once upon a time, it was written but since then it has been amended and removed. I believe I took a screen shot of it. I’ll look for it when I have the time.
Remember, Peter stated that they prepared for the Take-Down and instead of being the Prey, they were the Predator lying, excuse me laying in wait. This is a Systematic Mechanism designed to do exactly what they did.
It’s a Trend they did it in 87-88, 2007-2008 and now they are setting up for the next rinse(housing bubble.)
Remember the Graphs when Wmih needed approval for the Acquisition. The NOLs were Optimum 2024-2026 when the Market would Peak and then Reverse.
How much Money did WMI have in Foreign Office Deposits?
Assets of the assets are Not part of the Agreements. Period.
So the money in Trust(s) in the Caymans does Not have to pay taxes on the Interest earned. How much Money is there?
$29 Billion Dollars in Cash does not just Disappear without a trace and the Parent Company is not going to ask questions or better yet, not do anything about it. “ Assets of the assets are Not part of the agreements. ” Straight from the Purchase and Assumption Agreement. Facts:
85% of JPMORGAN’s Portfolio is in Foreign Investments for a Reason. PAY NO TAXES!
1.4 Trillion Dollars in Foreign Office Deposits! Is that how they obscure the Truth?
Does anyone know if WMI Inc. had Foreign Office Deposits?
The FDIC specified that they, “* Excludes $1?4 trillion in foreign office deposits, which are not FDIC insured?“
Makes you wonder why the language change from one report to the other. Not as Specific as the first one Identifying WAMU’s 299 Billion Dollar Exclusión but as all Foreign Office Deposits instead.
What happened to the $20 Billion in Cash that was supposed to transfer over to WAMU? $10 Billion by September 31st 2008 and the other $10 Billion split over the next 4 Quarters in 2009. Assets from the asset is not part of the agreements. You are mistaken if you think WMI is going to let $20 Billion in Cash Disappear and Not ask questions. Ok go back to drinking your Ensure.
WHERE IS THE $29 BILLION DOLLARS IN CASH FROM WASHINGTON MUTUAL FEDERAL SAVINGS BANK?
Go ahead and believe the Liars!
Yet, we supposed to Believe everything they Say. They’ve been lying since the very beginning. Omitting the Truth is still a form of Lying! Reinstatement’s of Corporations. Hmmm, Why?
Sadly it’s not the First time. So Jokes On Me! Ha ha!
This may take another year or two to Wind Up. As you can look up with other similar cases, this can go beyond a few years for final distribution or distributions.
Read it again.
It must be noted that wind-up and dissolution of WMILT could go longer due to pending litigation and final steps necessary to be undertaken.
The dates are already busted. The only ones that know is those involved. Like Charles, William, Michael, Debbie, Bill, Bruce, Justin, Etc. Etc. Get the gist? We don’t know exactly when, but one things for sure. A final Distribution is coming. For who, If Creditors were paid in full? It’s in black and white.
Everything is done for a reason. Nothing is by chance.
Like I mentioned before.
“It must be noted that wind-up and dissolution of WMILT could go longer due to pending litigation and final steps necessary to be undertaken.”
Thank You Newflow!