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2/28/2024 Isn’t that when coop filed their 10 K?
AZ, hope all is well! In your research, do you feel the revelation of xxxx is contingent upon LIBOR resolution? TIA
AZ thx for your steadfastness! I still need to payoff my kids college tuition and it looks like a reveal is coming soon of who xxxx is!
Reported net income of $46 million including other mark-to-market loss of $41 million, equivalent to ROCE of 4.3% and operating ROTCE of 11.1%
Book value per share and tangible book value per share increased to $66.29 and $63.67
Servicing portfolio grew 14% y/y to $992 billion
Repurchased 1.3 million shares of common stock for $72 million
Subsequent to quarter end, issued $1 billion senior notes maturing 2032 with coupon of 7.125%
Because nobody knows when this will wrap up, that is why I wouldn't hold him to it or do I take stock in any timeline guesses. But I trust his DD, and if anyone is going to give an educated guess, it would be AZ, F the haters.
AZ, you said, "I think this whole deal is wrappin' up ...
just sayin". Man I hope you're right. Any guesses, weeks, months, another couple years? I know you don't like to give wrapping up dates, I wouldn't hold you to it. TIA
This is great news!!! Thanks so much for letting us know. Seriously! I hope this is the beginning of the end! I still have my kids college to pay off.
I love it when you talk like that. Agreed 100%. Period. What more needs to be said?
Thanks AZ, what a long stranger trip this has been and I hope we get news anytime.
AZC quote, ". I'm waiting for the big dog; ... soon ~". God I hope so!
If this traded “normally” all the buyback of stock should act as a dividend.
SOL musings..
Not **** out of luck, but Statute of Limitations as it were. I was wondering if the SOL, the article which I FOUND and posted to the boards (ahem royal ) when expired will allow for a tally of possible litigation losses? Then that money could be set aside and the rest could be distributed via LTI's?
The Foundations make grants to exempt organizations described in section 501(c)(3) in State 1 and State 2.
https://www.bilzin.com/we-think-big/insights/publications/2023/05/indemnification-claims-2000s-residential-mortgages
I found this article and posted it which started the SOL discussion again!
Here's AZ $50 answer to my question.
Thursday, February 02, 2023 10:58:43 AM
Post# of 711322 Go
~ Considered For A Portion Of It' Only ... "COOP" or' WMI Reorganized @ $50.00pps (now COOP') Was A Minimum pps Threshold to achieve ... IF' ? ... WMI Ever Filed For BK' AND' IF' ? ... WMI after its filing ever "Reorganized" ... now, Done' & Done', or has, Happened & Happened ~
... I simply read the material' ... All Of The Material That I Could Get My Hands On ...
cancellll-culure' ... discredited' my work' ... for obvious reasons' ... (I nolonger C)
... The Management of the Gross Amounts' (an available debt support structure) will be done by the company', now reorganized ... the withheld interest accumulation ? will get returned to an original (7) releasing WMI common share holder' ... Never A Part of ?, or considered within the WMI Holding Company's BK' ...
the Preferred Managing Sub, will account for the returns to be made to an original releasing P' holder ... completely separate' ... any mixing of returns @ 75/25 is incorrect ... (I nolonger C)
just sayin' :)
AZ
https://www.bilzin.com/we-think-big/insights/publications/2023/05/indemnification-claims-2000s-residential-mortgages
"We expect that the FDIC-R will file additional suits within the next four months, because its position is that the statute of limitations on these claims will not expire until on or about September 8, 2023. "
This document shows JPMorgan Chase as the parent company of the preferred funding, thus XXXX=JPM. Thx iPrelude, can we move on now?
Some indication? To me the biggest tell is the hedge funds, that are still here! Remember they risked disallowance and prison!
Thanks for the update, this is indeed good news b/c the bonds needed to be settled first correct?
Thanks Boarddork, nice, clean, understandable post. Cheers!
This is what scares me. Even though they are escrows, and can't be sold Ally sold mine at .01 cent per lot. I have written them and documented my objection to the illegal action. They responded by saying that I haven't given up my rights to any proceeds. If what most here think, the escrows are worthless and our W9's and signed releases are our ticket. So if I claim a capital loss on the escrows, does that mean I relinquish my shares? Ughh so hard to watch my six when I'm a greenhorn.
Nope they were on the 2/11 statement as worthless, but not on my 1099.
No, they have been removed and shown on 2/11 monthly statement but not on my 1099.
Etrade's reply
12:24 PM
Hello, I have transactions on 2/11/22 which are not reflected in my 1099. The escrow shares in question, were deemed worthless and I would like to claim the loss.
12:25 PM
Please give me a moment to connect you.
E*TRADE Assistant
Chat started with KaiHia F
Hi, this is KaiHia Fitch. Give me a second as I review the conversation up to this point.
12:25 PM
I am checking to see if losses are reported on a 1099. I don't believe they are. One moment.
KaiHia F
12:27 PM
1099-b
12:28 PM
Others with the same shares have reported this,
12:29 PM
yes I did receive from E*TRADE a 1099-B that listed both my "P" & "K" shares removed as worthless
I appreciate your patience as I look into this for you. One moment please.
KaiHia F
No problem
12:30 PM
You are still holding the position. That is why it is not on the 1099.
12:33 PM
It would only show as a loss if you were to relinquish the worthless security.
KaiHia F
OK have you seen the 2/11/22 statement on my account showing them worthless?
I’m going to transfer you to another chat agent who is certified to assist with this. Upon transferring, I’ll be automatically dropped off and you will still be on an active chat session. Normally, we have little to no wait-time. However, if you experience a long wait, your chat session will be answered ahead of the others in the queue. If the hold time is longer than 10 minutes you may be asked to respond to keep the chat active. Thank you, for your time today. Another agent will be with you shortly.
KaiHia F
12:34 PM
Chat started with Sennen B
S
Hello Mark! My name is Sennen Bubb. One moment while I review your request.
Sennen B
Hello Sennen
12:35 PM
S
I see that you're inquiring about positions that were removed from your account as worthless. Worthless security removals are not reported on your 1099. In order to claim the losses for these securities, you can use your trade confirmations or brokerage statements and work with an accountant or tax advisor to claim the losses.
Sennen B
12:38 PM
How come others have received a 1099-B showing the worthless shares?
yes I did receive from E*TRADE a 1099-B that listed both my "P" & "K" shares removed as worthless
12:40 PM
above message from friend
12:40 PM
S
IRS regulations prohibit worthless removals from being reported on your 1099, so this will not be included on this form. If you're looking for more information on how to claim the losses for a worthless removal, you'll need to reach out to an accountant or tax advisor.
Sennen B
12:42 PM
ok thanks
S
No problem. Is there anything else I may assist you with today?
Sennen B
E-trade peeps, has anyone received acknowledgement of their escrows shares being removed on a tax form? TIA
No more WAMU'S! I wonder if this is part of the broad powers that got changed?
CWG, what did she say about this, " I have previously addressed your questions regarding “retained assets” and/or “bankruptcy remote assets”, etc. and will not be re-addressing those questions here."?
No, JPM did not acquire Mr. Cooper Group Inc. The web site is wrong.
Angel Oaks Funds Trust Filing 7/28/22 still listing these WaMu Mortgage Pass-Through Certificates and their values.
http://pdf.secdatabase.com/2131/0001145549-22-044548.pdf
Also found this Moody's ratings.
https://www.moodys.com/research/Moodys-takes-action-on-3-RMBS-bonds-from-3-deals--PR_411131
New York, September 27, 2019 -- Moody's Investors Service ("Moody's") has downgraded the ratings of three tranches from three transactions, backed by Option ARM loans, issued by WaMu.
Complete rating actions are as follows:
Issuer: WaMu Mortgage Pass-Through Certificates, Series 2007-OA4
Cl. 2X-PPP*, Downgraded to C (sf); previously on Dec 20, 2017 Upgraded to Ca (sf)
Issuer: WaMu Mortgage Pass-Through Certificates, Series 2007-OA5 Trust
Cl. 1X-PPP*, Downgraded to C (sf); previously on Dec 20, 2017 Upgraded to Caa3 (sf)
Issuer: WaMu Mortgage Pass-Through Certificates, WMALT Series 2006-AR6 Trust
Cl. 2X-PPP*, Downgraded to C (sf); previously on Dec 20, 2017 Confirmed at Ca (sf)
http://pdf.secdatabase.com/2131/0001145549-22-044548.pdf
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2004-AR3, Class B1, 2.680%, 6/25/2034 (h)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2005-AR16, Class 1A2, 2.691%, 12/25/2035 (h)(j)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2005-AR18, Class 1A2, 2.823%, 1/25/2036 (h)(j)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2006-AR14, Class 2A3, 2.499%, 11/25/2036 (h)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2006-AR18, Class 3A1, 2.980%, 1/25/2037 (h)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2007-HY6, Class 1A1, 2.827%, 6/25/2037 (h)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2004-AR10, Class X, 1.262%, 7/25/2044 (e)(g)(h)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2005-AR6, Class X, 1.655%, 4/25/2045 (e)(g)(h)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2007-OA4, Class 1XPP, 1.058%, 5/25/2047 (e)(g)(h)
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2007-OA5, Class 1XPP, 0.916%, 6/25/2047 (e)(g)(h)
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, 0.000%, 3/25/2033 (f)
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, 2.068% (1 Month LIBOR USD + 1.400%), 7/25/2035 (c)
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, 2.018% (1 Month LIBOR USD + 1.350%), 11/25/2035 (c)
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, A1A, 1.188% (1 Month LIBOR USD + 0.520%), 12/25/2035 (c) Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, 5.750%, 1/25/2036
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, A1, 0.848% (1 Month LIBOR USD + 0.180%), 2/25/2037 (c) Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, 6.000%, 4/25/2037 (j)
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, 3X1, 1.618%, 10/25/2046 (e)(g)(h)
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, 1A, 1.049% (12 Month US Treasury Average + 0.830%), 11/25/2046 (c) Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, 5A, 1.473% (11th District Cost of Funds Index + 1.250%), 4/25/2047 (c) Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, XPPP, 1.914%, 4/25/2047 (e)(g)(h)
Series 2003-MS7, Class P, Series 2005-5, Class CB11, Series 2005-9, Class 5A3, Series 2005-AR1, Class Series 2005-11, Class A7, Series 2007-HY1, Class Series 2007-3, Class A19, Series 2006-AR8, Class Series 2006-AR9, Class Series 2007-OA3, Class Series 2007-OA4, Class
Hmmmmm looks like the bonds are becoming active again, today!
Isn't today a one year anniversary of something?
Do you know what the Interest rate is for released common shares?
Right, after so many years here and all he has shared, (didn't he spend a bunch to have a law firm investigate the BK?) I feel I know him and it would go against his character to try and pull a fast one!!! HIs integrity is solid, like John Wayne, You don't tout how you're a vet, and lie about such an important event. I trust him like a brother.
Xoom, it wasn’t hard for us ?? SAKI SAKI SAKI SAKI SAKI SAKI SAKI!
“Direct deposits have FJR, and already placed in my earlier post', it's not hard' ... unless”. AZ
“Money received from the WMI Wells Fargo Property / Indentured Trustee, has already begun to be direct deposited” AZ
Having been vetted, opened up a direct payment for all flavors apparently. AZ mentioned this.
No way this is a reference to Plan 7
"it's painful and humorous at the very same time to watch yoooooooz' ... there's your multiplier' ... k ? " Post 703004
SAKI
I would think taxes are withheld. Now for those doubting AZ, you’re not allowed to take the number of common shares you released, and times them by seven. Lol GLTA!!!!!!!
$7 per common for interest is the first payment. (IMO)
"it's painful and humorous at the very same time to watch yoooooooz' ... there's your multiplier' ... k ? " Post 703004
"~ That Is Correct' ... The Returns Were Paid Directly From The Original WMI', Wells Fargo Indentured / Property Trustee', WMI (7) Common Share Owners' " Post 703002
" the withheld interest accumulation ? will get returned to an original (7) releasing WMI common share holder' " post 702330
Thx AZ. SAKI SAKI SAKI (Thx jinsong)