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THE WAY FORWARD
For escrows is all about the WMILT ONLY!
Wait and watch. GLTA
Don’t Worry
Even if the news is Terrible, the usual theorists will interpret it as Great LOL
AT short answer to question 5
Given a true understanding of all that has been disclosed, and documented, agreed to and legally approved, it would not be possible to come to incorrect conclusions time after time for years. There are no legal claims questions or expressions of similar conclusions anywhere else concerning missing Billions of Assets.
The WMI Liquidating Trust a ‘Propaganda Machine”
Interesting. Now I can’t wait to read the filing
Orbit your questions are rational common sense
There are no Billions assets hidden with unreported undisclosed millions of interest revenue not attributed to any entity, not taxed etc etc. If any such assets were real, there would be claims from all the big players involved. So, endless theories from “experts “ on a message board with endless “due diligence “ and changing date predictions, talking about the “way forward” are obviously not credible emo, as your logic is telling you
Trust Example
From the WMI Piers prospectus
“a preferred security issued by Washington Mutual Capital Trust 2001,(the Trust), having a stated liquidation amount of $50, representing an undivided beneficial interest in the assets of the Trust, which assets consist solely of SUBORDINATED debentures issued by Washington Mutual Inc., each of which has a principal amount at maturity of $50, a stated maturity of July 1, 2042 and at any time an accreted value as described in the prospectus”
KEY STATEMENT: Trust Assets are only paper issued by WMI, now worthless
Ron the FED is reversing Quantitative Easing
The FED bought and owns the 4Plus Trillion of Assets purchased to stimulate lower interest rates. The assets and the planed runoff without replacement has nothing to do with assets in safe harbor or any connection to WAMU or hidden assets for escrow payments.
Thanks for the reply
All I am saying is that all loans were on the consolidated balance sheet as Portfolio loans or loans held for resale, or if the loans had already been scheduled for securitization but not delivered to the investors they would temporarily be held in safe harbor to protect the buyers/investors prior to the agreed upon delivery date. MBS are typically sold forward i.e. sold with agreed upon future delivery dates allowing time for pooling of the mortgages according to Private MBS agreements or Fannie/Freddy requirements depending on the security type. So, the loans were sold and delivered to investors or seized and sold to JPM depending on the category. There was not and there is not any way for a regulated Banking entity to legally hide mortgage assets or the income from them. The IRS would be all over it and I don't think the large players involved in this BK would miss any opportunity to file claims for anything if they thought there was anything there. It's been a really long time and nothing missing has been discovered. That is a plain FACT. I released, I had a substantial position in WAMU stock as a result of the WAMU purchase of Dime but I have very limited hopes for escrows based on the WMILT disclosures.
Incorrect statements about ordinary mortgage sale process
Loans were securitized and sold to third party investors. The investors assumed the credit risks associated with non performing loans, as well as normal pre payment risks associated with home sales , and refinances driven by falling interest rate movements. Loans that defaulted and foreclosed and loans that were paid off from home sales and refinancing are not replaced by the securitizer and seller of the original pool. The securitizer does not stockpile loans to be used as replacements. WAMU either held loans in Portfolio for investment or sold them as whole loans or securitized them and sold them, therefore on the WAMU consolidated balance sheet loans were shown as held for investment or held for resale.
Yes there are mortgages serviced for
The investors who bought the MBS, and they have been getting and will continue to get the interest minus the service fee, and reporting same to the IRS, and paying taxes etc etc etc . There are no unreported mortgages, with unreported interest not showing up on any balance sheet or income statement and tax return anywhere. Don't you at least question why no one has made any legal claims for missing assets. Why? Simply because there are none eom.
Boardork your Background statement is wrong
MBS are made up of Sold not Portfolio loans. The sold loans are held in Trusts, like DB. When a loan is paid off or foreclosed it is not replaced in the MBS, Investors expect the prepayment risk and attempt to account for prepayments in their pricing models when they invest in MBS. Well understood by the market and individuals with mortgage banking experience.
Hotmeat, yes ALL THE FACTS
align with what has happened, and what is happening and imo what will happen. ALL THE FACTS do not support the failed fantasy theories so no predictions are required by anyone as the facts are self evident, not mysterious, just a matter of time.
YIKES! Living in the past
Yes, POR seven happened POR six did not,, fair and reasonable was legally established, the FDIC receiver has more approved claims than assets, the WMILT reports very limited expectations for escrow distributions and yet we get continued posting of old documents trying to support conclusions that have already failed, with new dates for "moving forward". The only moving forward imo is the conclusion of the BK with an insignificant escrow distribution.
Hope is nice but the Reality is:
Every theory predicting missing, hidden money for escrows has failed, a Fact. Soon, we will all know nothing will come to us from the DB settlement imo, and yet I expect many will still Hope new theories and "great Due diligence" will find what is not there.
Full Call notice received today from Fidelity
WMIH Corp Notes 13% maturity 3/19/2030
Yeah, remember my imo when nothing happens again
YIKES, still predictions of the MOTHER LODE!
New date predictions for escrow funding from the DB law suit. Once again, it won't happen. Anyone here get a notice from DB as required by the court? No, not unless you were an owner of MBS trust interests subject to the settlement. The MBS were all sold to investors and the underlying mortgage loan collateral, serviced by JPM, so the investors are the settlement beneficiaries, along with The JPM specific 645 Mil. Nothing for us, nothing hidden. Wait and see the dates pass without anything happening, imo.
The L in LTI stands for "Liquidating" Trust Interest
And yes, they are directly related to the WMILT as disclosed many times
We're in another Transition period
After all the Excitement about the DB settlement now pretty much over, as most realize nothing is coming from that Dream either, the desperation for another unicorn vision is causing the usual anxiety until the replacement dream comes along. It is amazing that everything is transparent from FDICR disclosures, WMILT disclosures, the approved POR, quarterly statements from JPM etc and nothing supports any hidden assets, and there are no challenges, no inquiries into anything concerning missing assets, but some still believe in theory after failed theory. Amazing!
If, if if it was true then
Guess where the assets would be now. Hidden with earnings just pileing up tax free, unknown to anyone in the market? LOL No, JPM would own them as usual
Servicing Rights are recorded assets
As such, they were seized along with the other assets and sold to JPM, and JPM services all the mortgage loans previously sold by WAMU in Securitization issues. The point is the loans were sold, they belong to investors, JPM is remitting principal and interest minus the servicing fee to the investors every month. Nothing for escrows as usual.
Completely rediculous
I read your post and the logic is based on so many mistakes I did not want to spend the time addressing all of them. There is not a static profit margin associated with Portfolio loans. The gross interest changes all the time as a result of pay offs, defaulted loans and other factors. You seem to say that the profit margin is separated from the assets in some way. It's not static it's volatile, and whatever it is it streams to the owners of the sssets. JPM got the Portfolio Loans, and the revenue streams sssociated with them. Simple, disclosed, accepted understood not challenged by any one involved.
JPM got the assets, disclosed, recorded, done, over
For years,accepted and understood by the stock market the regulators and all parties involved in this mess. Time to move on imo
WAMU had a huge portfolio of mortgage loans
booked on their balance sheet as held for investment. And another large category of loans held for resale and they earned the interest on these portfolios. It's no mystery, every S&L had large gross interest income from mortgage loans.
A 5% risk retention rule for residential mortgage
MBS became effective on 12/24/2015, years after the demise of WAMU.
Old Report on DIF, the Deposit Insurance Fund
This was discussed on the forum back in 2015, the number was just a foot note to a Pie Chart shown on the report. The WAMU number was excluded because it would have distorted the pie chart statistics. Old news. It meant nothing to us then, and nothing now. Just another meaningless repeated post from the past.
Amazing, no Routine, yes
Facts do count, So, yes another non factual interpretation of the DB settlement implied by the question you answered is easily shown with facts to be a another distortion to support hidden money coming back to escrows. But of course, it doesn't stop, just replaced by another irrational question. Notice, no one is thanking you for your "Great DD" lol
Yes! Eom
The Receiver has disclosed the Asset balance
The 2.7 B minus the the JPM payment of 645M, minus 7+M of admin expense, all publicly disclosed and understood. Claims exceed assets available. Nothing left, end of story.
Poportionaly!
The DB allowed claim won't be deminished or treated as an inferior claim, it will be treated proportionally!
The claims are higher than the money available so the payments will be less than the claims but the DB claim will be made proportionally with the other claims. Simple Do You Agree?
All claims won't be paid in full!
The money available will be split proportionally between allowed claims
Settlement approved a proportional payment
Between the existing claims and the "allowed DB claim". The document link has been posted on the forum.
Receiver's Assets are reduced to 2.1B
After the payment to JPM and admin expenses, nothing left for escrows after existing claims plus the DB settlement allowed 3 Billion claim
JPM ad nausem
All the discussions about JPM are a total waste of time. As the largest financial institution in the US, JPM is the most heavily scrutinized Bank in the market. Their financial disclosures are well understood by investors all over the world, but on this forum everything about JPM is distorted to support failed theories, one after the other for years. When they raised capital it was theorized to be for payments to escrow. When they disclosed off balance sheet assets, it was somehow coming to escrows, when they reported that the Commerciial loan portfolio acquired from WAMU was performing well it was more hidden assets, when they reduced unprofitable deposits, it was theorized to be assets coming back to us, rather than reductions of liabilities of JPM. There were many other failed theories concerning JPM. Now, JPM will receive a large amount of cash in the DB settlement. Escrows will receive nothing whatsoever from the settlement, but we are reading the same old type of theories based on complete misinterpretations of documents well understood by all parties involved in the DB settlement.
The latest theory is typical
The FDIC, JPM and DB were involved in lawsuits having nothing to do with escrows. So, without any support at all, theories about us becoming beneficiaries spring up. Nothing factual, just excitement about the Billions coming. Just today, LG posted about the Mother Lode, although the post was quickly removed when the facts dispelled the reason for the statement. Calling this type of thing a Fantasy Theory seems accurate not condescending EMO. Disputing a theory, especially an unsupported debunked one, is not an attack on the poster, but a disagreement. GLTY
Think we agree, zero from DB settlement eom
You said it best, simple, factual, correct eom
I've already read the posts from the poster
And all thE old theories proffered have not come true, and I expect the new one will turn out the same, but GLTY
The post was about the DB settlement only
It did not address all the other theories but time will tell won't it.
Suggest everyone read ItsMyOption post
post 481755. Poster took the initiative to contact the DB settlement officials and they verified that our escrows are not connected to the settlement. So, that is the end of the latest fantasy theory. The settlement is a significant step towards the end of this long process but it has reduced the amount of cash at the FDICR and increased the allowed claims against the remaining amount available.