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katekir1234,you cannot pump escrow markers, you should know that by now. Your first post on this board was in 2015, and wamu journey started in 2008.Just saying...
Nothing has changed.Money didn't disappear.It s not a question if we get pay, the question is how much and when will it happen. No need to point fingers. Just wait for fireworks. Imo
Great post Johnnyiwantsome!
Outstanding presentation AZCowboy!! Thank you for sharing this.
Best regards
Outstanding post ron_66271!!
Thank you for sharing your DD and posting here.
Well said AZ! No One Expected us to be Here.
it has been 9 years of waiting and frustrations for many, but all this waiting ,will be pay off big time.
Thank you for saharing your DD, and posting on this board, I know many of us are grateful and truly appreciate your input and knowledge in this process.
Best regards
the deal was made long time ago in bankruptcy court, in a 2 months mediation between debtors,JPM and FDIC outside of the public eyes (they took down a solvent bank). Our lawyers told us ,the deal is Fair and Reasonable,and adviced us to sign the release form.If you did so, then you are in a good shape. Just wait for it . IMO
katekir1234, you are too far from reality. Az,Ron,Lg (and many others) are the most brilliant posters on this board.Money didn't disappear ,and as far as distribusion time frame ?! it s all up to the big players that are involved in the process.We all know we are closed to the end of wamu journey.
It s not a question if we get pay,the REAL questionis is when and how much!!None of us can influence the process.
Well, 65 billion is very conservative number.Most likely 85++ billion.If WMB was not seizure by FDIC , how much would be WMI market cap today?! Most banks increased their market cap up to 300% from 2007 market cap value.WMI would be around 200 + billion market cap today, if FDIC would not take WMB down.JPM will pay us with our own money and make it out like bandits with ++ billion in profit.
IMO
Thank you AZ, much appreciated and as you say "we are all waiting together".
AZCowboy, your kindness is a great blessing to all of us. Thank you so much for sharing your DD and posting here.
We are at the end of Wamu journey, a life- changing event for many of us.IMO
crystal clear and outstanding post Az!
Thank you for sharing
Xoom, Great post!!!
UpTickMeASAP, is good to have an opionion and share it. The sickness is when you have no escrow markers and spend 24 hours a day posting against any pay day. We are all busy in our daily routine and time is very precious.
We are near the end of this wamu journey stay tuned for the show.
Imo
That document was filed in a bankruptcy court , I believe in 2009 - 2010.I saw it with my own eyes. Few years later, I tried to find it, but it was gone. It was about 24 billion (around) . One of the wamu trust (don t remember exactly ) become JPM trust, and the amount was cash ,around 24 billion.
I belive this is the 20 billion that was transferred in a days before bank seizure from wmbfsb, and i m not sure about 4 billion.
That money did not disappear, I think everything was locked up because FDIC concern with deposits liability. They did know how wamu masive mortgage portofoliu will perform.
IMO
Az,Ron ,Large and others (they know who they are) , did not have to spend time posting here to educate us about wamu complicated dual tracking process, but they did !! They shared with us their DD, and many of us are thankfull to all of them for their kindness. No one knows when pay day is coming, and if they are missing something they don t have to say they are sorry or wrong. IMO
As far as I know they keep this board alive.
No hard feeling my friend, just an honest opinion
Thank you
Ron_66271, I think it's correct and I agree with this scenario.
Great post Ron_66271!! Thank you
Thank you LG!
Thank you for sharing AZ! I really appreciate all your DD and kindness to share with us. Amazing find!Please keep posting.
Thank you again
Awesome post !! Thank you ron_66271
Zeke,Long life my friend !
FDIC payment for administrative fees for WMB?! As far as I know was ZERO. Oh...there is "no money" left as non escrow holders claim.
By the way....im in 85-100 billion club .
It s coming to the end.
Great News Ron!!
Thank you
I believe Az, was trying to point something different regarding WMMRC (not cash value)
bkshadow, If you focus on the smallest details, you never get the big picture right.
1. P&A is completed ,so when will be available to public we ll see ; JPM final payment made to FDIC for WMB ( book value as of 2008 ) . Every single asset of WMB will be accounted/paid in the FINAL PAYMENT.
Can you provide a link with final P&A completed ?! No one can do it. So,we can't argue without looking into the final P&A completed. Final P&A completed is the masterpiece of WMB trasfer to JPM.
2. WMI Interest loan portofoliu generated for 9 years. (++billion)
Many years ago you said that the value of wamu was +65 billion . Maybe you were right back then.
Now ,you are saying wamu is gone, and what is in the docs is what we get. What docs?! The Final P&A completed is what mater (every single asset will be there and paid for value).
Bkshadow, just IMO,
i'll appreciate if you don t PM me with bad language. Im ok if we agree to disagree.
Anything else is irrelevant
Clawmann, Not at all!! wamu (escrow markers) once in a lifetime opportunity. Imo
We ll never see again in our lifetime this opportunity.
I hope you released your escrow shares.
AZ, Great post, beautiful presentation !Many thanks for sharing !!!
Hotmeat,Great Post!!
The WMI loan portofoliu issue, you explained it into layman's terms to understand this complex process. Thank you
Well, as we get close to the end of wamu journey, one class PIERS ( Class 16) will be really upset about escrow markers getting all the goodies (++ billion). Class 16 supposed to get everything as per POR 6. It was denied.
The ones who decided to accumulate Dimeq and heavy invest in class 16 , they will do ok, but they ll be very, very upset if ++billion return to escrow markers.
Investors in this category live in denial reality. They will be "happy" if no money will come back to escrow, I understand that and I don't blame them. I would be very upset too if I was one of them.
We had options, I belived in fair and reasonable, and refused to belived they can legaly still ++ billion .They did not, it will be all paid book value as of 2008. Waiting for P&A to be available to public.It is completed.
IMO
Good bless all of us!
AZCowboy, thank you for sharing your thoughts. Wmih start putting all the puzzle pieces together, we are close to end this journey, that's going to happen sooner than we think. IMo
Thank you AZ
Johnheps, P&A agreement is completed but not available to public yet. When the final P&A will be public,there we should see what was the book value of WMB as of september 2008 , +20 biilion cash (WMBfsb returning capital to its parent ).
“We propose to decapitalize WMBfsb by returning $20 billion of capital to its parent. The $20 billion will include the master note of approximately $7 billion, proceeds from $3.5 billion of Discount Notes and cash generated through additional wholesale deposits and advances from FHLB Seattle. We propose the payment of at least $10 billion by September 30, 2008 and the remaining $10 billion through December 2009.”
Second, is the masive WMI loan portofoliu that JPM could not get it and is totally separate than WMB transaction (P&A JPM/FDIC )
https://www.google.com/amp/s/livinglies.wordpress.com/2017/07/24/investigator-bill-paatalo-why-jpmorgan-chase-did-not-purchase-615-billion-of-wamu-loans/amp/
We are at the end of wamu journey.
IMO
To be more accurate 24 billion and change.Then we add interest accrued on WMI loan portfolio for 9 years +WMI subs (+65 billion). We are looking at +85 billion coming back to escrow markers. Imo
You are 100% correct hotmeat. Great post, well done .
Good morning Rockie101!! :) Nobody knows when we'll get cash/assets back from safe harbor (WMI holding Co). Date is irrelevant IMO ,as we cannot influence the process.
The good news is that WMB trasfer is completed and done.
IMO WMIH will acquire these assets from safe harbor in exchange shares/assets. All the money collected for 9 years from WMI portofoliu loan will be distributed to escrow markers as well.
None of WMI portofoliu loan /asstes that are in safe harbor is reported as of today.
IMO
Great post AZCowboy ! Thanks for sharing
Great job newflow!
Thank you
yes I did !! Thank you. Much appreciated!!
AZCowboy, Thank you for the great presentation!
AZCowboy, thank you for your excellent analysis ! Many of us really appreciate all the hard work you've done .
Thank you much for info!!
Ron_66271 Thank you
tanjazielman, Thank you for sharing with us this important email.
Exdimer,it s good to have an opinion,but that s all about it !