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.
Thanks for the responses! Will do!
I’m sorry I wasn’t more clear. I did receive a small check from my class 21/Dimes holdings. That’s why I’m questioning my name on the list.
I received the check just haven’t cashed it yet. Thanks.
Help please re: NOTICE OF UNCLAIMED OR NON-NEGOTIATED DISTRIBUTIONS
My name is on this list. I have P,K, and common cusips in my accounts.
I received a very small check for my Class 21. Haven’t yet cashed it.
Why would my name be on this list? Thanks.
To the board:
Take a look at this:
Google- Mr Cooper Group Subsidiaries
When comes up click on Murphy Favre, Inc (this is where Killinger got his start)
Scroll down and click on https:/brokercheck.finra.org
Right of page click on “Detailed Report”
Scroll down to page 9, “Firm Profile”
-JP Morgan Chase Bank, National Association
-Indirect Parent
-Ownership - 75% or more
Yet...it is listed as a Mr. Cooper Group Subsidiary??
Any thoughts???
Then, scroll to page 14...and keep scrolling...list of affiliates from
Cayman Islands
Germany
Australia
London
Spain
Bahamas
India
Malaysia
Ireland
Pakistan
South Africa
Among them...Bear stearns, JPM
IF we are to get nothing from the LT what did we pay A&M almost $2 million a year to do?
AZ,
How do you “Check Up On Your "DTC Election Accounts?” Thanks.
A reminder:
Office of Thrift Supervision
FACT SHEET
1700 G Street, N.W., Washington, D.C. 20552 • Telephone (202) 906-6677 • www.ots.treas.gov
FOR RELEASE:
Thursday, September 25, 2008 OTS 08-046A
CONTACT:
William Ruberry (202) 906-6677
Cell – (202) 368-7727
OTS Fact Sheet on Washington Mutual Bank Institution Profile
Total assets as of June 30, 2008: $307.02 billion
Primary executive and business segment headquarters are located in Seattle,
Washington.
Branches: 2,239 retail branch offices operating in 15 states
4,932 owned and branded ATMs
Employees: 43,198 at June 30, 2008
Recent Deposit Flows
Because of adverse events in the financial markets, material outflows began on September 15, 2008. Coupled with further rating agency downgrades of Washington Mutual Inc. (WMI, the top-tier holding company) and Washington Mutual Bank (WMB or the Bank), the Bank experienced a net deposit loss of $16.7 billion through September 24, 2008.
Other Financial Details (as of June 30, 2008)
Total deposits: $188.3 billion
Brokered deposits: $34.04 billion
Total borrowings: $82.9 billion primarily comprising Federal Home Loan Bank
advances of $58.4 billion and $7.8 billion of subordinated debt
Loans held: $118.9 billion in single-family loans held for investment - this includes
$52.9 billion in payment option ARMs and $16.05 billion in subprime mortgage
loans
Home Equity Lines of Credit (HELOCs): $53.4 billion
Credit Card Receivables: $10.6 billion
Total loan servicing: $689.7 billion total loans serviced, including $442.7 billion in loans serviced for others and $26.3 billion of subprime mortgage loans
Non-performing assets: $11.6 billion, including $3.23 billion payment option ARMs and $3.0 billion subprime mortgage loans
Institution History
WMI is the top-tier savings and loan holding company and owns two banking subsidiaries, WMB and Washington Mutual Bank, fsb (WMBfsb), as well as nonbank subsidiaries.
Since the early 1990s, WMI expanded its retail banking and lending operations organically and through a series of key acquisitions of retail banks and mortgage companies. The majority of growth resulted from acquisitions between 1996 and 2002. On October 1, 2005, the Bank entered the credit card lending business by acquiring Providian Financial Corporation. These acquisitions enabled WMB to expand across the country, build its customer base, and become the largest savings and loan association in the country.
The Bank had four business segments: the Retail Banking Group, the Card Services Group, the Commercial Group and the Home Loans Group. WMB is a leading originator and servicer of both single- and multi-family mortgages and a major issuer of credit cards.
Recent Events
Changes in Business Strategy - Beginning in late 2006 through today, WMB was proactively changing its business strategy to respond to declining housing and market conditions. Changes included tightening credit standards, eliminating purchasing and originating subprime mortgage loans, and discontinuing underwriting option ARM and stated income loans. Management reduced loans originated for sale and transferred held for sale loans to the held for investment portfolio. WMB was focusing on shrinking its balance sheet and developing a retail strategy through its branch operations.
Reduction of Overhead Expenses - In December 2007, WMB announced the resizing of its Home Loans business including the elimination of approximately 2,600 employee positions, closure of approximately 190 home loan centers and sales offices, and closure of nine loan processing and call centers.
Maintaining Capital - In late 2006 and 2007, WMB began to build its capital level through asset shrinkage and the sale of lower-yielding assets. In April 2008, WMI received $7.0 billion of new capital from the issuance of common stock. Since December 2007, WMI infused $6.5 billion into WMB. WMB met the well- capitalized standards through the date of receivership.
2
Operating Losses - WMB recorded a net loss of $6.1 billion for the three quarters ended June 30, 2008. In the second quarter of 2008, WMB management disclosed that the Bank’s credit quality had deteriorated and it might incur up to $19 billion in losses on its single-family residential mortgage portfolio. WMB increased its loan loss provisioning in response to the deteriorating housing market. Loan loss provisions increased from $1.6 billion in the fourth quarter of 2007, to $3.6 billion in the first quarter of 2008 and $6.0 billion in the second quarter of 2008.
Deposit Outflows – Since July 2008, the pressure on WMB increased market conditions continued to worsen. Significant deposit outflows began on September 15, 2008. During the next eight business days, WMB deposit outflows totaled $16.7 billion, shortening the time available to augment capital, improve liquidity, or find an equity partner. Given the Bank’s limited sources of funds and significant deposit outflows, it was highly likely to be unable to pay its obligations and meet its operating liquidity needs.
Receivership - With insufficient liquidity to meet its obligations, WMB was in an unsafe and unsound condition to transact business. OTS placed WMB into receivership on September 25, 2008. WMB was acquired today by JPMorgan Chase. The change will have no impact on the bank’s depositors or other customers. Business will proceed uninterrupted and bank branches will open on Friday morning as usual.
OTS Enforcement Actions
October 17, 2007 – Issued a Cease and Desist Order related to deficiencies in Bank Secrecy Act/Anti-Money Laundering (BSA/AML) programs
October 17, 2007 – Assessed Civil Money Penalties (CMPs) related to violation of flood insurance regulations
November 14, 2007 – Initiated a formal examination of the appraisal process to assess the validity of a complaint filed by the New York Attorney General’s (NYAG) Office
February 27, 2008 – Issued overall composite ratings downgrade and received a Board resolution in response to the supervisory action
June 30, 2008 – Issued Memorandums of Understanding to WMI and WMB
September 19, 2008 – Issued overall composite ratings downgrade
3
OTS Profile
Established - 1989
Thrift institutions supervised as of June 30, 2008 - 829
Thrift industry assets supervised as of June 30, 2008 - $1.51 trillion
OTS employees - 1,055
Washington Mutual Bank assessment revenue – 12.2 percent of 2008 OTS budget
4
I concur 100% but this filing she made a great argument for her to be paid based on TPG’s payment of legal fees though they had not requested it!! Yet, their legal fees were paid.
She didn’t ask for $’s this time, she asked to be satisfied with UQ’s. I take that request as a huge revelation. Maybe I’m wrong
Biggest revelation from AG’s filing, IMO.
She is willing to be paid with uq’s!!!!
AZ,
Question for you. I was with an accredited broker that was purchased by another accredited broker. Received tracking markers/cusip #’s in accounts.
However, after company’s switch over I can no longer see trust supporting each cusip. Do you think that is a problem? Before change I could see the supporting trust in my account. Thanks in advance.
Dm,
Based on this post, do you think KKR could be a front for TPG? Why aren’t they listed as an institutional investor? Surely they received a ton of escrows. Thanks for all your input. Where is TPG?
Justice,
FYI
Your link to NASDAQ institutional investors is no longer available on their site. Refreshed screen, went directly to site and it will not display institutional investors.
FYI
AZ,
Thanks for the reply. Is there anyway to verify? As a subsidiary they, Mr. Cooper, own it. How do they own what is ours without paying for it?
AZ,
Did a google search re: Washington Mutual Capital Trust 2001. First item on search was this from Bloomberg,
“Washington Mutual Capital Trust 2001 operates as a subsidiary of Mr. Cooper Group Inc.”
So escrow $’s will be flowing through Mr. Cooper? Thanks.
LG,
So do you interpret this as all preferred will be treated equally within the 75%? K’s receiving same distribution amount as P’s? Considering prospectuses have been cancelled and to be distributed “pro rata” within class...assuming the new class is all preferreds receiving 75%? Or, will K’s and P’s distribution be similar to when we received WMIH stock? Thanks.
Mr. Cooper/Marcus Cooper....Group. Wouldn’t surprise me if there was a connection.
Possible reasons?
As a result, reductions of share capital are frequently undertaken by companies to:
create distributable reserves;
increase distribute reserves; or
reduce accumulated losses.
from legalclarity.co.uk why reduce share capital
Credit goes to mattchew post 508246 for pointing this out.
From NationStar PR: see underlined below
NATIONSTAR MORTGAGE HOLDINGS INC. : Regulation FD Disclosure, Other Events, Financial Statements and Exhibits (form 8-K)
share with twitter share with LinkedIn share with facebook share via e-mail
0
02/13/2018 | 01:35pm CET
Item 7.01 Regulation FD Disclosure
On February 13, 2018, Nationstar Mortgage Holdings Inc. ("Nationstar") and WMIH Corp. ("WMIH") issued a joint press release regarding the matter disclosed in Item 8.01 of this Current Report on Form 8-K. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. In addition, Nationstar made available the investor presentation filed as Exhibit 99.2 to this Current Report on Form 8-K, the Letter to Team Members distributed on February 13, 2018 filed as Exhibit 99.3 to this Current Report on Form 8-K and the Team Member Q&A distributed on February 13, 2018 filed as Exhibit 99.4 to this Current Report on Form 8-K.
Item 8.01 Other Events
On February 12, 2018, Nationstar, entered into an Agreement and Plan of Merger (the "Merger Agreement") with WMIH and Wand Merger Corporation, a Delaware corporation and a wholly-owned subsidiary of WMIH ("Merger Sub"). The Merger Agreement provides that, upon the terms and subject to the satisfaction or waiver of the conditions set forth therein, Merger Sub will merge with and into Nationstar (the "Merger"), with Nationstar continuing as the surviving corporation and a wholly-owned subsidiary of WMIH. The board of directors of Nationstar has unanimously approved the Merger Agreement, the Merger and the other transactions contemplated thereby.
Wand had two subs, Sub I and II. Located at Maples Fiduciary Services (Delaware) Inc.
Google Wand Corporation...bizpedia. Over 250 signed up with Maples, many of which are KKR, from 11/06/17 to present. Scroll down you’ll see Wand Corp and it’s subs listed. Who knew we had a “...wholly-owned subsidiary”? And, that subsidiary merged with NationStar on 2/12/18, the day before WMIH and NationStar merger announcement.
Maples has offices all over the world including Delaware and Caiman Islands. What was in Wand Corp., WMIH’s “...wholly owned subsidiary that require its merger with NationStar the day before our merger announcement.
Seldom post. Can’t reply to any questions. I don’t know the answers. Been here for years, watching, waiting like many. Just trying to help.
So, does it state anywhere in the filings what % WMIH Corp’s equity interest actually is? 10, 25, 50, 90%? Thanks
Just got off phone with ST local office and they told me I could fax or email ballot to them and then send original via regular mail. Hope it helps.
Reposted from earlier today: Thoughts?
Fsshon,
Look below at Exhibit G from POR 7:
To WMI Entities:
69.643% of the Homeownership Carryback Refund Amount and 20% of all other Net
Tax Refunds
American Savings Litigation
JPMC Allowed Unsecured Claim
JPMC’s right, title and interest in and to H.S. Loan Corporation
Revolving Notes
Remaining Claims
Registry Funds
WMI Accounts and the Disputed Accounts
WMI Intellectual Property
WMI Policies
WMI Rabbi Trust
$25,000,000.00 for Visa Shares
$50,000,000.00 with respect to Vendor Claims
Now look at Exhibit E (which is disputed claims) and notice that first line! I think we are getting 3+ billion deposit plus other goodies.
Check behind me and make sure I'm looking at this correctly. It's there in Exhibits E & G. If this is correct we are going to have some approx. 4-5 billion in assets. Please verify I'm looking at this correctly.
I'm no expert but until someone more knowledgeable corrects me I believe that is what those exhibits are telling us. Just like BR to try to hide the treasures under the mattress.
Fsshon,
Look below at Exhibit G from POR 7:
To WMI Entities:
69.643% of the Homeownership Carryback Refund Amount and 20% of all other Net
Tax Refunds
American Savings Litigation
JPMC Allowed Unsecured Claim
JPMC’s right, title and interest in and to H.S. Loan Corporation
Revolving Notes
Remaining Claims
Registry Funds
WMI Accounts and the Disputed Accounts
WMI Intellectual Property
WMI Policies
WMI Rabbi Trust
$25,000,000.00 for Visa Shares
$50,000,000.00 with respect to Vendor Claims
Now look at Exhibit E (which is disputed claims) and notice that first line! I think we are getting 3+ billion deposit plus other goodies.
Check behind me and make sure I'm looking at this correctly. It's there in Exhibits E & G. If this is correct we are going to have some approx. 4-5 billion in assets. Please verify I'm looking at this correctly.
Don't know if this might be important to us. Just saw on one of LEH's boards:
for those who follow the wamu case, Ed Sargent from SG has joined the party.
"#19543 8/26/2011 Application for Pro Hac Vice Admission filed by Edgar Sargent on behalf of UK Administration Companies. Filing fee collected, receipt #187529. (Hibbert, Stacey)"
Oh, by the the way UK Admin Co. handles the buying and selling of businesses, FWIW.
Thanks for all your input.
Troy,
Good to see you're still around. How's the family and Germany? I'm still holding Lehman. Have a good day.
Linda,
I saw your question over @ the WAMU board. Here is your answer:
Sargent
Nelson-both out of Seattle office
and Seth Ard out of New York
Folks,
Look back at my post. I am definitely NOT trying to get something started. The LIBR has a tough job. I just thought it was odd that she would be associated w/ "that" group of people during such a high profile case. And, I didn't know if it was an issue hence my original post. GLTA Back to lurking!
uzual, WithCatz, Don, all,
I've been lurking here for almost two years. I appreciate all the work many of you do and have done to help shareholders. I don't offer much but I am learning from you guys. I did a search today on "Mary Walrath Marcia Goldstein" (don't ask me why because you would probably fall out of your chair laughing if I told you). However, below is what I found. Should our LIBR be rubbing elbows w/ these folks during this case? I don't know. I defer to the board. It just doesn't seem right. Anyway, thanks again for all you do.
IWIRC's 8th Annual Spring Program and Presentation of Founders' Awards
Summary
Thursday, March 31, 2011
Washington, DC
Our Spring program will feature a very special presentation, "A Conversation with Trailblazing Women in the Insolvency Field."
We are pleased to announce that the Hon. Marjorie Rendell, Third Circuit Court of Appeals, will be the moderator for this historic program. The interviewees include:
Norma Corio, JPMorgan Chase & Co., New York
Marcia Goldstein, Weil, Gotshal & Manges LLP
Hon. Barbara Houser, Chief U.S. Bankruptcy Judge, Northern District of Texas
Hon. Mary Walrath, U.S. Bankruptcy Judge, Delaware
Bettina Whyte, Alvarez and Marsal, New York
The program is being taped and will be included in the permanent, digital collection of the National Bankruptcy Archives housed at the University of Pennsylvania in Philadelphia. IWIRC appreciates the cooperation and support of the American College of Bankruptcy’s Archives Committee and its Chair, the Hon. Diane Sigmund.
With many thanks to Michael St. Patrick Baxter, the event is being held at the law offices of Covington & Burling LLP in Washington, D.C. Due to limited capacity at the venue, please note there are ONLY 150 spaces available for this event, so please register at your earliest convenience. After the interviews, the 2011 Founders' Awards will be presented. Registration includes a networking lunch at Carmine’s Italian Restaurant, which is walking distance from Covington & Burling LLP at 425 7th Street, NW, Washington, D.C. 20004.
For those staying at the Gaylord National Hotel for the ABI Spring Conference, we will provide bus transportation at 9:00 a.m. to Covington & Burling LLP for the program. After lunch, we will provide bus transportation back to the Gaylord.
If you cannot attend this historic event, or if you would like a copy of the DVD for your personal or firm files, you may purchase one for $20 through the registration process and it will be mailed to you.
If you are attending the ABI Spring Conference, we hope you will attend the women’s reception on Friday, April 1 from 6-7 p.m. that IWIRC is co-sponsoring with ABI. The reception will include an informal roundtable discussion that focuses on progression in careers and within professional organizations (like ABI and IWIRC), balancing work and family, leadership roles, mentoring other women, and other topics of interest as well as time to network and relax. You may register for this through ABI at www.abiworld.org.
http://www.cvent.com/events/iwirc-s-8th-annual-spring-program-and-presentation-of-founders-awards/event-summary-f327bf2975ce4feaa04807be1efc15bc.aspx
Jersey,
Go to J board. Troy is going to have an interview w/ Vanity Fair.
Back in the saddle, eh? Good to see you.
1)excessive Lawyers fees
2)equity not represented in those excessive fees which stand to lose approx. $50 billion
3)accurate financial statements
4)if the LEH wasn't worth anything why are so many fighting for it?
5)NOL's
GLTA
test test test
Linda,
Troy and I were in contact, mostly Troy, w/ UST approx. a year ago. This is an opportunity for shareholders to voice their concerns w/ UST, again. It certainly looks like the UST has their ears up - finally! Maybe, now is the time to petition the UST and the court for an EC. Maybe the UST is finally feeling what it is like being in the dark! All IMO.
Maybe someone could get in touch w/ Troy I have only had contact w/ him twice since he moved abroad.
NOTE: I have lost all of my UST & court correspondence due to PC problems.
Could you please tell me what page that is on?
Blue,
What's on the table?
Sly,
Do not know, sorry.
From Boston on Y Board:
**Breaking News UPDATE - Re: FDIC FOIA Info - WMB sale *not* settled 3 minutes ago
Ok, so as you all know, I spoke to the PSBJ on Friday, and sent them my FDIC FOIA request info, which shows that the FDIC has *not* SETTLED the sale/price of WMB to JPM.
The PSBJ agreed that the info was MATERIAL and had not been disclosed by JPM (to their shareholders, who think that the sale is complete/settled).
But just to make sure that the TRUTH gets out, I decided to bring in some BIG GUNS.
So this morning I CALLED, got ahold of, SPOKE TO and SENT MY FDIC FOIA info to........
Peg Brickley - Dow Jones Bankruptcy Review, AND
Dan Fitzpatrick - Wall Street Journal
BOTH of them had NOT seen this info before, and are making calls as we speak to further look into, question and report on this.
Words getting out, folks.
PAYBACK'S coming JPM, PAYBACK'S COMING..............
Sentiment : Hold
I'm not sure but after trading over 90 million yesterday it certainly makes you scratch your head doesn't it? Who knows? Maybe good news will follow soon.
Sorry for the delay. You're right the numbers do not jive. However, maybe it's a good sign that someone was buying such a huge amount of shares.
I agree. Hope it is a good sign.
I use ST; it shows a trade for over 54 million shares at 12:02:22 for .0004 and total volume of 34.5 mil. traded. IHUB shows over 97 million traded but does not show the large trade. Any thoughts?