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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.
$$
Preferred shares Claim is not for The Original Debtor's Estate, which belongs to Released Common holders.
Why 2010?
and not pre 1933 for original Grandfathered Corporate structure and Bank charters?
Yes I have read the act and yes you are correct anything 2010 back was grandfathered .
Regards,
B
Prefer share is cap??...
CAP is the wrong term.
Preferred shares Claim is to their property.
Their property is the Preferred Funding Trusts, and 75% of the Re-distributions from WMILT.
WMILT Re-distributions [IMO]
$30B from $21B plus interest for the 363 Sale currently held in US Treasure Notes.
$$ 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.
WMI Holding Co NOT a Bank Holding Co.
The OTS/FDIC had NO authority to seize any of WMI's property !
Please see WMI's Corporate Structure in a 10K.
Hence; 5AT.
WMI was pre FDIA/FDIC 1933-1934 ACT.
Hence; Grandfather Clause.
NewCo-1031 EXCHANGE, and Dissolved WMIIC
Where is the 8K's for;
* NewCo-1031 EXCHANGE
What assets are being held in, and passing-through this Sub?
* Dissolved WMIIC
What happened to the assets that were in this Sub?
BRICKS AND MORTAR and 100 Year Old Bank Charters
WaMu_1031 was the corporate entity that filed the $32.5B loss in WMB and passed the Tax responsibly to the FDIC on Sept 26th 2008.
Hence: the possible return path for Assets. WMB, WMBfsb....
WMBfsb was a sub of a Sub.
Remember AriseBank?
BlackRock CEO: Cryptocurrency Is ‘Going to Transform How We Do Our Business’
BlackRock investment firm CEO Larry Fink argued that cryptocurrencies are going to revolutionize the way that the world does business.
After saying that cryptocurrencies are an “index of money laundering than anything more than that,” BlackRock CEO Larry Fink offered some praise for the emerging technology at the Davos World Economic Forum event.
“It’s going to transform how we do our business,” he added. “We should not turn our backs to it; we should embrace it and work toward a global solution because if we don’t work toward a global solution it will create systemic risk.”
BlackRock is the largest investment firm in the world with $5.7 trillion under management as of July 2017. They are known for their popular line of iShares exchange traded funds.
Other important figures commented on cryptocurrencies at the event. U.S. Treasury Secretary Steve Mnuchin said that he wants to make sure that digital assets aren’t being used for illicit activity before adding that digital wallet and exchange companies will be regulated like banks in the United States.
“[I]n the United States, our regulation [says that] if you’re a Bitcoin wallet, you’re subject to the same regulation as a bank,” he said. “We want to make sure that the rest of the world…has the same regulations. We encourage fintech, we encourage innovation, but we want to make sure that all of our financial markets are safe.”
International Monetary Fund Managing Director Christine Lagarde had less favorable things to say about cryptocurrencies. She brought up potential issues with “anonymity, lack of transparency and the way it in which [cryptocurrency] conceals and protects money laundering, financing of terrorism, and also some dark trades.”
“We have already started monitoring, analyzing, surveying risk associated with the development of cryptocurrencies [as well as] the potential benefits of it,” Lagarde added.
http://www.breitbart.com/tech/2018/01/26/blackrock-ceo-cryptocurrency-is-going-to-transform-how-we-do-our-business/
BRICKS AND MORTAR???????????? normal purpose of a 1031 but by no means the only one
Now For the Volume...
Hoping we close at $1.00 as to be ready for Monday.
We are Due !
Now would Be a Good Time
for a daily Breakout.
See ?
JWW, What is the Daily Chart
indicating now? Breakout still possible?
TIA.
The Total assets 32.8 B Total Debt 8.1 B
Is only for WMI's currently held assets like BOLI/COLI and liabilities as of Sept 26th. WMB's assets were not part of WMI property at the time of the BK filings.
The $32.5B for WMB was just JPM's Brick and Mortar purchase of WMB's locations, with final reconciliation upon final accounting by FDIC for "the Final Payment" for "WMB and it's assets" to WMI Original and Releasing Owners of the Estate.
Yes WMI "owned" the Brick and Mortar of which may have been packaged in to Commercial Trusts.
Think: Leases and The 365 Sale regarding Leases.
WMB's Brick and Mortar, Not the WMB Enterprise
Hence: WaMu-1031
The only assets valued at seizure would be Brick and Mortar.
"The principal tax item that created the over $32.5 billion consolidated NOL was the ordinary loss of ($31,370,712,376), which was recognized on the sale of WMB bank assets by the FDIC, as the receiver for WMB, to JPMC on September 25, 2008, pursuant to the P&A Agreement."
PDF 118...128, 129/368
https://www.scribd.com/document/41321079/Washington-Mutual-WMI-FINAL-REPORT-OF-THE-EXAMINER
"The review also included thousands of pages of documents from the databases that existed at the time of the appointment of the Examiner, including the Rule 2004 Discovery."
Doc #1997
No; The LT does NOT Own the Assets of WMIIC.
The Beneficiaries of the Trust [WMI-LT] own the assets of WMIIC.
Your poor use of the terms is creating your confusion, just like your miss use of "Equity Interest" and Equity in WMB.
CWG, Please See FN 5 on PDF 12/13
in the Doc you posted.
5. Nothing contained herein shall constitute a waiver of any of the Parties’ rights to file a motion for summary judgment prior to the filing of pre-hearing briefs and such rights are expressly reserved hereunder.
Then see; Agreed Order Establishing Procedures and Deadlines Concerning Hearing on Employee Claims and Discovery in Connection Therewith [D.I. 10777] (the “Employee Claims Scheduling Order”) to review Paragraph 12, 16.
"Change in Control" is completed with "the Final Payment" for "WMB and it's assets" which should have happened before EOY 2017. "the Final Payment" for "WMB and it's assets" constitutes the Title Change for WMB ownership to FDIC. Note that the January 4th Hearing was canceled.
I'm awaiting Distributions from "the Final Payment" for "WMB and it's assets" into my accounts. ASAP.
Therefore; "Change in Control" had better be DONE.
We await the "Change in Control" Summary Judgement Filing.
? WMI-LT and WMIH, Breach of Fiduciary Duty !
Thank You AZ for the Docs and history.
It's NOT WMIIC's Cash
The ABS Trust Participation Revenue stream belongs to "the Original Debtor's Estate".
Tranche 6, Distribution depending on the Trusts Prospectus.
If they did it doesn't belong to WMIH. They clearly stated that WMIIC had no cash or assets in the PR.
WMIIC has no Assets !?
WMIIC only participated the various ABS Trusts. Just passing-thru the cash revenue stream to WMI and using the “Equity Interest” of 25% or more participation in a Trust to receive a “Equity Interest” Certificate to use as collateral for more participation in another Trust.
-> AZ is RIGHT <-
~ Who ?, Wants To State What “Landefeld” Referred To’, ~
Who wants to post their specific view and exact stand’, ... again, In specific regards to what was being referred to as the, “Equity Interest”, of the WMIIC / WMI Debtors Estate’, ... When S. Landefeld stated that, ... WMI Owns 100% Of The “Equity Interest” In WMIIC” ...
And as everyone knows, Now of course, WMIH-Corp is the reorganized WMI’
S. Landefeld’ as stated, was the “Executive Vice President of Washington Mutual Inc.,”
I’ve already posted the link to this information, ... but ... Let’s END the continued nonsense and the guessing and stick to the Filings as Submitted ... and are on the Record’
AZ
WMIIC was the Guarantor for 01/05/2015 Rights Offering.
~ KKR’s, “Guarantor”, Got “Dissolved” Yesterday ~
... WMIIC’ was the “Guarantor” Listed On the 01/05/2015 Rights Offering’, ... and none of That’, ? ... was recently amended’, ... ? ...
The KKR’, 01/05/2015’, Rights Offering, ... being the replacement credit facility’, issued to WMIH’, ... the same one that came with an, ... “Embedded Derivative Function” ... ? ? ...
just sayin’
AZ
WMI-LT and WMIH, Breach of Fiduciary Duty
Monday, the 22nd of January will be the start of the forth Business week of the new year and we have NOT heard any news regarding;
WMI-LT
* The status of the proceeds from "the Final Payment" for "WMB and it's assets" that must be distributed in a timely manner. Payment must have been received before EOY 2017 to satisfy the Five Year Tax Rule for a Capital Gain vs. Capital Loss. We know the Six Year Rule as satisfied because the January 4th Hearing was canceled.
* Monday, the 22nd of January Two days of ABS Trust Distributions will be due from all the ABS Trustees. Will timely Distributions be made?
WMIH
* Who are the Officers of New_1031?
* Now that WMIIC has been Dissolved, who or what is the Gaurantor for the Rights Offering?
Hey, WMIH Corp.
When are you going to update your "About Us" page now that WMIIC has been 'Dissolved'?
About Us
WMIH Corp. (“WMIH”) (NASDAQ: WMIH) is a corporation duly organized and existing under the laws of the State of Delaware. WMIH is the direct parent of WM Mortgage Reinsurance Company, Inc., a Hawaii corporation (“WMMRC”), and WMI Investment Corp., a Delaware corporation. On March 19, 2012, WMIH emerged from bankruptcy proceedings as the successor to Washington Mutual, Inc. Upon emergence from bankruptcy, we had limited operations other than WMMRC’s legacy reinsurance business, which is being operated in runoff mode and has not written any new business since September 26, 2008. We continue to operate WMMRC’s business in runoff mode and we are actively seeking acquisition opportunities across a broad array of industries.
http://wmih-corp.com/about-us/
"Equity Interests" in ABS Trusts
When talking about ABS Trusts, "Equity Interests" is not a share of capital stock ownership
https://www.guggenheiminvestments.com/perspectives/portfolio-strategy/asset-backed-securities-abs
Example;
"Domino’s retains a substantial equity interest in the SPV and is permitted to collect cash flows in excess of required ABS noteholder payments. Domino’s retained equity aligns its interest with that of ABS noteholders; both benefit from a well-performing business. Details below describe how performance triggers within the securitization help protect noteholders by redirecting excess cash flow away from Domino’s and to the ABS."
Court Docket: #0172
Document Name: Order - Counts XVII Through XIX of the Amended Complaint Stricken for Violating the Bankruptcy Court Order. Motion to Dismiss Remaining Claims (D.I. 90, 102) Denied. Informal Stay Lifted.
Date Filed: 8/24/2016
http://www.kccllc.net/wamu/document/0812229160915000000000004
-> AZ is Right <-
Closed 16 January 2017 Martin Luther King, Jr. Day
http://business.nasdaq.com/discover/events/trading-hours/index.html
Pg. 116 ...
"From 2000 to 2007, Washington Mutual and Long Beach securitized at least $77 billion in subprime and home equity loans. WaMu also sold or securitized at least $115 billion in Option ARM loans. Between 2000 and 2008, Washington Mutual sold over $500 billion in loans to Fannie Mae and Freddie Mac, accounting for more than a quarter of every dollar in loans WaMu originated."
That is $2 Trillion in MBS Trusts originated by The WaMu. That is NOT including all the other ABS Trusts originated by The WaMu.
We Will Expedite Your Parole Hearing
with the same enthusiasm as you did in timely Distribution of our funds and information/filings to Us.
WMI-LT and the WMIH are both in violation of their Breach of Fiduciary Duty and SEC requirements.
Hint; Get comfortable....
What is the status of the newly formed 1031 Exchange "New_1031"?
I know the reason. The question is;
What is the status of the newly formed 1031 Exchange "New_1031", and who are it's Officers? The old WaMu-1031 that was 'Dissolved' this summer with New_1031 created two days before?
WMI-LT and WMIH, Breach of Fiduciary Duty
WMI-LT
What is the status of the proceeds from "the Final Payment" for "WMB and it's assets" that must be distributed in a timely manner?
WMIH
What is the status of the newly formed 1031 Exchange "New_1031", and who are it's Officers? The old WaMu-1031 that was 'Dissolved' this summer with New_1031 created two days before?
WMI-LT, Breach of Fiduciary Duty
The proceeds from "the Final Payment" for "WMB and it's assets" must be distributed in a timely manner. The time it takes for KCC-DTC to transfer, and WMI-LT to record on EOY 2017 books. WMI-LT's job is to make sure it happens in a timely manner.
"the Final Payment" for "WMB and it's assets" is Pass-thru distribution, not Waterfall Feb 1st distribution.
"A fiduciary duty is an obligation to act in the best interest of another party. For instance, a corporation's board member has a fiduciary duty to the shareholders, a trustee has a fiduciary duty to the trust's beneficiaries, and an attorney has a fiduciary duty to a client".
https://www.google.com/search?q=Breach+of+Fiduciary+Duty&ie=utf-8&oe=utf-8&client=firefox-b