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I Want My Cash Value for
"WMB and it's assets".
WMIH can't give away my compensation as an Owner of "WMB and its assets" to make an sweet deal for NSM with $6B in NOLs.
Yep, "The Performing Trusts Are the obvious reason for a WMIH 64% ownership ... Everyone’, will do very well ... and not just not because of an empty shell with some NOL’s ... that line ?, got old a very very long time ago ."
WMIH can't give away my property to generate NOLs for NSM Merger.
Would You Rather Have
$6B in NOLs, or the Cash Value for "WMB and its assets"?
WMIH can't give away my compensation as an Owner of "WMB and its assets" to make an sweet deal for NSM with $6B in NOLs.
The NOLs are; "Gives rise to" from the "Equity Interest" given to FDIC as a Capital Loss until "the Final Payment" is made as a Capital Gain. CL = CG.
The FDIC has valued "WMB and its assets" at $299B.
The WMB Deposit base of ~$188B was transferred to JPM, and therefore never became a Liability to WMB or the FDIC. Subtract Zero.
The DBNTC $3B is subtracted from "WMB and its assets".
Est; DBNTC $3B is 1/5 of RMBS losses. Subtract $15B.
This would be the only losses to generate NOLs for the NSM Merger.
WMI is a Creditor to WMB. Add back...?
Now multiply by Three [3] because ANICO/WMB Noteholders sued for DAMAGES, and JPM Settled and then raised $1.4T, $1,400B in EURO Notes.
The $6B in NOLs is a true statement until "the Final Payment" is made for "WMB and its assets".
NSM is doing Business with WMIH's "Equity Interest" in the enormous ABS/MBS pools of WMI/WMIIC. NOT some NOLs.
WMIH can't forfeit my "WMB and its assets" compensation to NSM.
WMIH Needs to Complete Shares for Value
conversions for both commons and Preferred before a merger with NSM.
Need clean WMIH books regarding ABS CERTs and ABS 'Equity Interests'.
RePerpetuallize the Series R, TPS Preferred Escrows.
Share Holder of Record date for the Series R Preferred is March 1st for March 15th dividend distribution.
Clock is tickin...
Globic, DBNTC Told Us
that February distributions are being made.
For DBNTC to make February distributions from WAMU Trusts, SH has been lifted from WAMU Trusts.
Again;
If SH is lifted for DBNTC as Trustee for WAMU Trusts, then SH is lifted for all Trustees for WAMU Trusts, like US Bank, LaSalle,...
Other WAMU Trustees are Reporting February 26th distributions.
In Short; FDIC SH has been lifted for WAMU Trusts.
the “Exchange Property"
Section 14. Reorganization Events.
...
" (such securities, cash and other property, the “Exchange Property”)."
" the kind and amount of the cash, securities or other property that constitutes the Exchange Property."
BK Closure Not Required.
Globic;
D&P-DBNTC; Distribution in February.
Same for all other ABS Trustees.
US Bank, LaSalle, BofA...
February 26th. Documented.
Retained Assets.
RePerpetuallize the Series R, TPS Preferred Escrows.
7.75% Series R Non-Cumulative Perpetual Convertible Preferred Stock
RePerpetuallize! March first is the ShareHolder of Record date for March fifteenth Dividend date for Series R [P's]. The same date probably holds true for the converted TPS shares. IMO, I'm expecting release of new Preferred Shares for P's and TPS for old shares, and cash redemption for the K's.
With News fast approaching due to February ABS Cash Distributions as announced on February 14th, and NSM Conference Call on March first. IMO, this would be a perfect time to RePerpetuallize Preferred Shares with additional ABS Trusts created with NSM.
Thanks AZ.
Just like the WMB Covered Notes, these Preferred shares offerings are also backed by Trusts. Only the K's are a secondary offering.
BELOW IN RED, ARE The Original WMB TPS Security’s That went through the actual “Exchange Event” ... converted to a parent corp, WMI Preferred series Security, pari-pass, with the R series ...
(i) Washington Mutual Preferred (Cayman) I Ltd. 7.25% Perpetual Non-cumulative Preferred Securities, Series A-1
(ii) Washington Mutual Preferred (Cayman) I Ltd. 7.25% Perpetual Non-cumulative Preferred Securities, Series A-2
(iii) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Trust Securities I
(iv) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Trust Securities II
(v) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Trust Securities III
(vi) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Trust Securities IV
===================================
BELOW, ARE The Original WMI Preferred Security’s;
(vii) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Preferred Securities, Series 2006-A
(viii) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Preferred Securities, Series 2006-B
(iX) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Preferred Securities, Series 2006-C
(x) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Preferred Securities, Series 2007-A
(xi) Washington Mutual Preferred Funding LLC Fixed-To-Floating Rate Perpetual Non-cumulative Preferred Securities, Series 2007-B
RePerpetuallize ! March first
is the ShareHolder of Record date for March fifteenth Dividend date for Series R [P's]. The same date probably holds true for the converted TPS shares. IMO, I'm expecting release of new Preferred Shares for P's and TPS for old shares, and cash redemption for the K's.
With News fast approaching due to February ABS Cash Distributions as announced on February 14th, and NSM Conference Call on March first. IMO, this would be a perfect time to RePerpetuallize Preferred Shares with additional ABS Trusts created with NSM.
Thanks AZ.
Just like the WMB Covered Notes, these Preferred shares offerings are also backed by Trusts. Only the K's are a secondary offering.
The Magnitude of the Portfolio Being Serviced
for 9 and 5/12 years is;
X*.014= $6B
$6B/.014= $.4286B
$.4286B*(9+5/12)= $4,036B
~$4 Trillion accumulated by ABS Securities held in Save Harbor that are serviced by WMB/JPM.
WMI/WMIIC's participation in the ABS WAMU scrutinized varied from 5% in the early creations to 95% in the latter years, 2007ish.
For a good average guess, use 25%.
The $6B is the Annual Revenue
from servicing the Loan Portfolios by WMB, and now JPM. This is NOT the; From 2004-2007 WMI averaged about $6B annually from cert participation.
The Mortgage servicing interest rate fee is around 1.4%.
X*1.4%=$6B from servicing fees annually.
X=__ Annual ABS Portfolio being serviced... True, it's not all ours !
DBNTC is over seeing $165B in MBS. That is more than $6B and $60B.
FRB/FED has $4.5 Trillion in ABS it acquired in 2008-2009+.
There is a line item in pre-bk WMi’s 10-ks, specifically illustrating income from its securitization participation. From 2004-2007 WMI averaged about $6B annually from cert participation.
1) $6B x (last 10 years accumulating) = $60B + annually compounding interest......has accumulated.
+
2) accumulation of liquidation proceeds of the loan principle that created $6B annually in cert participation
BK, Have You Seen
a updated WMB Balance Sheet for FDIC year end? FDIC's year end is the end of normal third-quarter, September 30th.
We should have seen the WMB Balance Sheet around mid-November 2017.
.....
Furthermore, We Could See
Distributions from KCC-DTC for "the Final Payment" for "WMB and it's assets" at anytime.
CIC.
again,
HLCE
-> AZ was RIGHT <- Regarding January Distributions
"For those Trusts in which distributions are administered by the Trustee, the Trustee currently anticipates that distributions of the Allocable Shares will be made in the February 2018 distribution period. With respect to certain of the Trusts for which the Servicer or Master Servicer calculates monthly distributions to Certificateholders, the Trustee has been informed by the Servicer or Master Servicer, as applicable, that such calculations are anticipated to be completed in time to enable distributions of the Allocable Shares for such trusts to be made in the February 2018 distribution period. Certificateholders are advised that distributions of the Allocable Shares as to any particular Trust may not occur in the February 2018 distribution period where the Trustee, the Servicer or the Master Servicer, as applicable, encounter issues in implementation such distributions under the relevant Governing Documents, or otherwise determine that they are unable to determine the appropriate treatment of the Allocable Shares in that period. Distributions of the Received Funds will be included with the monthly distributions on the WAMU Securities; accordingly, distributions to holders of particular WAMU Securities will be made to holders as of the record dates for such WAMU Securities for the month or months in which such distributions are made."
The January Distributions was planed on, but Duff&Phelps didn't get the calculations done in time.
February Distributions are coming Feb 21st thru 25th plus one day for DTC from both the normal Monthly Dist and the FDIC Allocation. The same should be true for all WaMu ABS Certs by all Trustees, like US Bank, BofA... Boardork gave the list of WaMu ABS Trustees yesterday. The other Trustees are using the same CA FDIC/DBNTC/JPM Settlement Allocation for their Monthly Dist also.
HLCE,
Ron
Project Eclipse, Equity Interests.
Wand Merger Corporation (“Buyer”), a newly formed shell entity which is an affiliate of WMIH Corp. (“WMIH”), intends to acquire, directly or indirectly, all of the outstanding equity interests of the entity previously identified to us by you as “Eclipse” (the “Company”) from the equity holders of the Company.
Thank you iPrelude
IMO WMIIC is Project Eclipse
Escrow Tracking Markers are the "equity holders of the Company".
Funding to buy the equity interests from "equity holders of the Company" WMIIC, now called Eclipse, paying the Escrow Tracking Marker Holders.
Project Eclipse
Wand Merger Corporation (“Buyer”), a newly formed shell entity which is an affiliate of WMIH Corp. (“WMIH”), intends to acquire, directly or indirectly, all of the outstanding equity interests of the entity previously identified to us by you as “Eclipse” (the “Company”) from the equity holders of the Company.
[Bridge Facility]
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539d8k.htm
EX 10.5
Thank you iPrelude
IMO WMIIC is Project Eclipse
Escrow Tracking Markers are the "equity holders of the Company".
Company has 180 Calendar Days from August 14th 2017
I think we are close to 180 Calendar Days. WMIH had better do something...
180 days from August 14 2017
Your starting date is August 14, 2017 so that means that 180 days later would be February 10, 2018. You can check this by using the date difference calculator to measure the number of days from Aug 14, 2017 to Feb 10, 2018.
https://www.google.com/search?q=August+14th+2017+plus+180+days&ie=utf-8&oe=utf-8&client=firefox-b
" Return to Compliance
After receiving a deficiency notice, a company has 180 calendar days to return to compliance. A company warned about its shares' minimum bid price must achieve a closing price of $1 or more for 10 consecutive trading days during this period. Report-filing offenders must file the required reports, and then must file subsequent reports by the due dates.
Additional Grace Period
If a company with a minimum market value of $1 million in shares held by non-affiliates satisfies the other listing requirements, it may receive a second "cure period" of 180 calendar days. To receive this, the company must notify Nasdaq of its intent to correct the deficiency. Nasdaq may exercise its discretion in determining whether it believes the company can cure the deficiency."
https://finance.zacks.com/nasdaq-delisting-rules-7450.html
As An Example From You Search:
Derivative Financial Instruments
IZEA is also using Derivative financial instruments to control the PPS just like WMIH. I'm sure the others in you link are also and that is why they all got the same Notice.
https://izea.com/wp-content/uploads/xbrl/izea-0001495231-16-000076.pdf
embedded derivative instruments
derivative liability
That Was Easy to Find:
"Dear Mr. Smith:
This is to advise you that we have not reviewed and will not review your registration statement.
We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes the information the Securities Act of 1933 and all applicable Securities Act rules require. Since the company and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made.
..." .....There's more...
Thanks AZ.
-> AZ is RIGHT, again. <-
Peter Worked with Chad back in 1993
"If we still have the loan, there are various restructuring programs we will consider," said Peter Struck, Washington Mutual's portfolio loan manager. "I think they are beneficial because the market has been so clogged with refinances. The appraisers, the credit people are so busy that we try to save customers time and money by working with the information we already have."
He knows the WaMu machine.
The Seattle Times
Sunday, May 23, 1993
http://community.seattletimes.nwsource.com/archive/?date=19930523&slug=1702836
Grant Thornton: Audit, Tax and Advisory Services
https://www.grantthornton.com/
Please Go Read the Doc
Post # of 507204
http://www.kccllc.net/wamu/document/0812229180202000000000002
{ : Order on 1) Motion of Grant Thornton for an Order to Show Cause why Sanctions Should not be Imposed Against Washington Mutual Liquidating Trust for Failure to Comply with the Court’s Final Fee Order [Docket No. 10476] by Failing and Refusing to Pay Approved Professional Fees; 2) Supplemental Motion of Grant Thornton for an Order to Show Cause Why Sanctions Should not be Imposed Against Washington Mutual Liquidating Trust for Failure to Comply with the Court's Final Fee Order [Docket No. 10476] by Failing and Refusing to Pay Approved Professional Fees; 3) Grant Thornton's Proposed Finding of Fact and Conclusions of Law; and 4) WMI Liquidating Trust's Proposed Findings of Fact in Connection with Grant Thornton's Motion for Sanction }
The LT got Spanked.
*********
~ WOW’, An Amazing Slap Down By The Judge ~
In her signed opinion, ... here’s the famous LT’ propaganda machines, ... legal team’, at work, ... ? ...
Document 12456 Filed 02/02/2018
http://www.kccllc.net/wamu/document/0812229180202000000000001
After Grant Thornton demanded payment, the Liquidating Trust could have either remitted the Contingency Fee or sought relief from the Court. Instead, it simply withheld payment (refusing to comply with the Final Fee Order). Even after the Court ruled that the plain terms of the Postpetition Agreement entitled Grant Thornton to its Contingency Fee, The Liquidating Trust continued to refuse to pay, asserting mutual mistake as a justification for its position - in the face of Grant Thornton’s insistence there was no mistake. The Liquidating Trust’s conduct demonstrated an inexcusable disregard for the Court’s order and cannot be remedied by a pleading of good faith.
Because Grant Thornton had to file a motion to recover its contingency fee, the Court concludes that sanctions are appropriate in the amount of the costs associated with the filing and prosecution of its motion.
EscrowDollars, So You Invested Here
in this Stock WMI/WMIH order to not receive money for your DD? ZERO !
I have no interest in your DD.
Good response, so forgive me if I ask how much money have you received in your escrow accounts from all your DD?
Since for days we were subject to the speculation that DB had been paid and that money would flow to our accounts, respectively tell me did that happen?
With the long list of trusts that several people posted that were going to start paying, again did that happen on 2/1 as was written by people here more than once?
What benefit would it be to the board if I also spent hours looking up DD fir the findings to yield zero?
Why do people on this board get so defensive when faced with the facts?
The facts are that not one price of DD has produced any evidence that $$$ are coming to our escrow accounts,
Prove me wrong...
EscrowDollars, If You
don't like other DD, then just do your own.
Hint; Read a ABS Prospectus.
Maybe BBob can help you.
EscrowDollars, What Do
the Court Docs, SEC filings tell you.
Please tell us about your fine DD.
That do you say...
Employee Claimants are the
only thing left on the BK Docket, True?
Are we only one adversarial filing away from BK closure? Then, Post to Close and The Final Order.
Footnote 5, THJMFW is awaiting
the CIC Summary Judgement filing to sign.
She has already agreed to sign ASAP the CIC-SJ when filed.
Anything That Completes Process
is fine by Me. :)
Grant Thornton is Resolved,
lets move forward to Distributions from DCR once CIC Summary Judgement is filed and signed which can happen fast because "the Final Payment" has been made for "WMB and it"s assets" by FDIC before EOY 2017.
ORDERED that the Washington Mutual Liquidating Trust is hereby DIRECTED TO PAY to Grant Thornton the sum of $5 million plus interest at the federal judgment rate from May 21, 2014, to the date of payment; and it is further
ORDERED that the Washington Mutual Liquidating Trust is hereby DIRECTED TO PAY to Grant Thornton the attorneys’ fees and expenses incurred by it in prosecuting the Sanctions Motion,
after approval of the Court; and it is further
and Signed !
Thanks Matt.
GT is Done.
Employee Claimants can end fast with the CIC Summary Judgement for THJMFW to sign.
The Rights Offering Keeps
KKR from making a "Tender Offer".
SEC Rule 144A
SEC Rule 144A
Search; SEC Rule 144A
JWW, Chart: Still inside a Pennant
still valid with current PPS drop?
Ideas?
TIA.
Note 3: Distributions to LTI Holder
PDF 10/18
PDF 15
Note 9: Investment in Subsidiaries
Since the Effective Date, the Trust had five (5) dormant subsidiaries without any active business operations. The subsidiaries adopted a plan of liquidation in October 2012. The assets held by these subsidiaries were comprised solely of cash and cash equivalents. On June 23, 2017, four of the subsidiaries were merged with and into the last remaining subsidiary, WaMu 1031 Exchange. Prior to such mergers, such subsidiaries distributed their remaining cash to the Trust. The Trust received $444,333 on June 27, 2017. The last subsidiary, WaMu 1031 Exchange, which no longer held any assets, was dissolved on December 8, 2017.
http://www.kccllc.net/wamu/document/0812229180130000000000001
ADD;
DBNTC distributions are not LTI distributions.
Thursday Was the 25th of January
So, Logically speaking, wouldn't that imply that the distribution would occur before the February 2018 distribution date for the trusts?
Yes, WMIIC Held Participation in the CERTs
and will be Distributed based on WMIIC's participation in ABS Trusts to Equityholders, the owners of "The Original Debtors Estate". Commons.
Trustees Distribute to 'WAMU Securities' of which WMIIC is a holder.
Preferred get stuff from Preferred Funding Trusts.
Vanguard Total Stock Market Index Fund
https://personal.vanguard.com/us/FundsAllHoldings?FundId=0855&FundIntExt=INT&tableName=Equity&tableIndex=55&funds_disable_redirect=true
All Public.
DBNTC Distributed ...
on the 25th of January, and the Series A and B Preferred Shares were both "delisted" 01/26/2018'. The very next day.
Rule 144
DBNTC RMBS Monthly Distributions Date
"The Trustee does not anticipate that distribution of the Received Funds will occur prior to the January 2018 distribution dates for the Trusts."
... Per Deutsche’s Bank Informational Notice, If one apply's the Process as prospectus revealed, a Residential Cert (Trust) distributes on the 25th of each month' ... the process used in RMBS Certs is reasonably the same, per numerous prospectus'
~ Something ? Needs To "Give" ~
WMIH-Corp, does not have the "Corporate Structure" currently necessary and, currently established and in place to handle anything of any financial operational relevance' ... (or, has yet to be revealed)
WMIH-Corp as an IRS Consolidated Filer, as well as an SEC - FINANCE SERVICES Coded; 6199 ... needs designated subsidiaries to perform specified operational functions, ... now, with WMIIC "dissolved" that would leave WMIH-Corp', per the SEC Filings, all that is left is the parent and WMMRC in runoff' ...
... Per Deutsche’s Bank Informational Notice, If one apply's the Process as prospectus revealed, a Residential Cert (Trust) distributes on the 25th of each month' ... the process used in RMBS Certs is reasonably the same, per numerous prospectus'
"The Trustee does not anticipate that distribution of the Received Funds will occur prior to the January 2018 distribution dates for the Trusts."
... January 2018’ ... ? ...
”Informational Notice Regarding the Trusts Listed on Exhibits 1-A and 1-B (“Trusts”) Procedures for Distributions of Settlement Proceeds”.
http://www.globic.com/wamurmbssettlement/pdfs/DB%20WaMu%20TIP%20Notice%20to%20Holders%20re%20Distribution%20Timing%2012.11.17.pdf
=============================
As I stated back a number of years ago now, ... ~ JPMC Only Received The Serving Rights To The Massive WaMu Loan File ~ ... or updated, was ever only ABLE TO receive the Loan Servicing Rights' ...
That view' ?, among many other considerations, was met with extreme controversy' ... ? ... (one can always depend on the "propaganda machine" ... LOL')
=============================
Maybe ?, WMIH-Corp DOESN'T ACTUALLY NEED ANY "Corporate Structure" to handle the process moving forward, now that the legal restraints (Globic') have all been lifted off of these numerous' "Trusts" ...
=============================
Again, This defined process is direct out of the Filings'
=============================
I. RECONCILIATIONS
A. Reconciliations shall be prepared on a monthly basis for all clearing accounts. These reconciliations shall:
1) Be mathematically accurate
2) Be prepared within forty-five (45) calendar days after each clearing account’s statement cutoff date
3) Be reviewed and approved by someone other than the person who prepared the reconciliation, and document explanations for reconciling items
B. Reconciling items shall be resolved within ninety (90) calendar days of their original identification.
II. SUBSERVICER REMITTANCES
A. Remittances for mortgage payments and payoffs received from subservicers shall be deposited into the applicable clearing account within one business day of receipt.
B. Remittances from subservicers shall be reconciled to applicable loan records maintained by Washington Mutual Mortgage Securities Corp. (“WMMSC”) during the appropriate accounting cycle.
C. Reconciliations shall be performed monthly for each subservicer remittance. These reconciliations shall:
1) Be mathematically accurate.
2) Be prepared within thirty (30) calendar days after the cutoff date.
III. DISBURSEMENTS
A. Disbursements to trustees, paying agents, and investors shall be made in accordance with the applicable pooling and servicing agreements and/or the prospectus indicating how cash flows are to be allocated.
B. Disbursements from the clearing accounts for amounts remitted to trustees, paying agents, and investors, per our monthly reports to those entities, shall agree with the bank statements for the clearing accounts.
C. Only permitted withdrawals shall be made from the clearing accounts.
D. Disbursements to trustees, paying agents, and investors from clearing accounts, made via wire transfer, shall be made only by authorized personnel.
IV. INVESTOR ACCOUNTING AND REPORTING
Statements to the trustees, paying agents, and investors shall be provided with each monthly distribution, in accordance with applicable pooling and servicing agreements, detailing the applicable distribution activity and effect on the unpaid principal balance of the mortgage loans.
V. MORTGAGOR LOAN ACCOUNTING
Loan records maintained by WMMSC shall agree with, or reconcile within material amounts to, the mortgage loan records maintained by the subservicer with respect to unpaid principal balance on a monthly basis.
VI. DELINQUENCIES
Reports from subservicers identifying delinquent loans shall be received and reviewed monthly. The number and aggregate principal balances of delinquent mortgage loans contained in these reports shall be included in our monthly statements to the trustees, paying agents, and investors.
VII. INSURANCE POLICIES
A fidelity bond and an errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented in management’s assertion.
The Original Debtor's Estate is;
All the accumulated and continuing Monthly Distribution of Funds participated in by WMIIC from the ABS Trusts all goes to Released Common holders 'other than' the part of the Preferred Funding Trusts which is property to Preferred shares holders Claim.
All of "the Final Payment" all goes to Released Common holders.
I own both ! :)
Prefer share is cap??...
CAP is the wrong term.
Preferred shares Claim is to their property.
Their property is the Preferred Funding Trusts, and 75% of the Re-distributions from WMILT.
WMILT Re-distributions [IMO]
$30B from $21B plus interest for the 363 Sale currently held in US Treasure Notes.
$$ Proceeds for 365 Sale.
$$ Proceeds from Court Registry Accounts.
$$
Preferred shares Claim is not for The Original Debtor's Estate, which belongs to Released Common holders.
Why 2010?
and not pre 1933 for original Grandfathered Corporate structure and Bank charters?
Yes I have read the act and yes you are correct anything 2010 back was grandfathered .
Regards,
B