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What part of the post is not understood...
...regarding the clear statement that WMB did not file for bankruptcy (as was asserted per the OP)?
mattchew, WMB notes will not be paid in...
...full, as noted in the receivership.
...and in the California Probate filing of the Expert Witnesses for the calculation on the return from the allowed Claim against the receivership pari passu with the Senior Notes (Juniors will get NOTHING, as will equity, WMILT, escrows or whatever it is now being called).
mattchew, WMB didn't file bankruptcy...
...simply didn't happen.
Olti100, that belief will change...
...bigly.
...comments in RED.
PickStocks, yep, a known fact since 2010...
...and discussed over and over.
...it is currently July of 2017.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115235527&txt2find=
mattchew, Ahmanson WMI loans explained in 2015...
...pretty clear.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115235527&txt2find=
JB, also hoping for an M&A 8K, but...
...I will say that there are some issues that could be of concern (from low to high) "if we don't see an M&A 8K first."
1. Could be still from a lack of knowing a 'landing place for US Corporate Tax Rate (currently 35%)?
2. Overheated, competitive market; targets of efforts could be causing overpricing and, as such, the deals not made as they don't make sense?
3. Hopefully not, and a 'worst case scenario concern, but could we see the Series B Preferred deal 'renegotiated and extended first, with an adjustment of the CAP and FLOOR from $2.25 to $1.75 (and also for the officers incentive) down to a level that significantly dilutes existing equity exponentially using existing PPS trends (such as $1.25 - $0.75 CAP and FLOOR) which I would view as devious collusion?
...again, still hoping we see the M&A 8K under the current terms and conditions of the Series B first.
Olti100, this belief will change when...
...it finally resolves, and there is NOTHING other than what the WMILT has disclosed.
...NOTHING, that is for escrows.
...Mike will continue to accumulate the fruits of the mediated settlement.
...again, oh how the belief will change.
There are no REDACTED CONCLUDING DOCUMENTS...
...the 7th Amended Confirmed Plan.
...the embedded Global Settlement Agreement (GSA).
...the Disclosure Statement.
...the Ballot Instructions and Releases.
...Equity Committee's Support Filing.
...Equity Committee's Chairman (he negotiated HIS fair and reasonable settlement, $2 almost to data LOL) Support Filing.
...NO REDACTIONS, NONE, NADA, ZIP.
...like the billions, tens of billions, hundreds of billions and even trillions FOUND by the great DD in the past 5 plus years.
...reading the actual, real world documents, precludes the need to scotomisation-based GUESSING.
...there is no mystery.
A&M holds no such ABS certs, a reasonably...
...prudent investor would know that the restructuring agent for a liquidating trust DOESN'T HOLD ANY ASSETS.
...the liquidating trust does.
...and they report them (ABS certs are not safe harbor MBS of the sponsor bank WMB).
...pure fantasy.
A&M is employed by the Liquidating Trust as...
...per the Engagement Agreement, approved by the Court.
...go to the website and read it.
...A&M was previously providing services to the Debtors (WMI/WMIIC), and it makes good sense for the LT to use them.
...they are 'big time milking IMO.
...the nature of the tax refund matters from decades ago data do require time and effort; and JPM get 80% of such BUT PAYS NONE OF THE COST.
...but, hey, it is what it is as Mike Willingham agreed to in the mediated settlement for his three paid seats and almost $2M to date in "fair and reasonable" results (from his perspective).
955, there is no 'FDIC safe harbor...
...safe harbor applies to the investors of in process security holders of mortgage backed securities.
...the 'safe harbor is FOR THEM.
...from the FDIC, as well as other creditors.
...not a 'safe harbor to retain the mortgages sponsored (sold) by the bank (WMB).
...pretty simple.
...and not mentioned ONCE, by any party in interest, over a billion in professional fees, including the great and powerful Susman.
...WHY?
...really, court arguments for years over $4B in WMI deposit accounts; but none on the billions, tens of billions, hundreds of billions, even trillions, of secret, hidden, off balance, mortgage backed securities?
...WHY?
...simply didn't and doesn't exist.
...an assertion that does not even rise to the level of a fantasy.
Yeah, yeah the 'final gavel down...
...that theory ignores tens of thousands of pages of court documents, hearing transcripts, as well as the confirmed plan, disclosure statement, equity support filing, etc. et al.
..."so far" is also "soon."
...'till the end of time.
The "H's" were the PIERS were they not...
...as disclosed in the confirmed plan as debt.
...the WMI flavors (OF EQUITY), which released, under the terms and conditions of the plan, received shares of the reorganized debtor, and there is a chance (if all goes right) that commons will receive the equivalent of $.01.
...So, yes, I call that pitiful.
...in your portfolio, what is the value RECEIVED SO FAR for the EQUITY RELATED ESCROWS from the WMILT?
...zero.
worker, NO, you are not right...
...IMO.
...hundreds of billions of mortgage-backed securities sponsored (i.e., essentially sold, except for residual retained interests by the sponsoring BANK), by WMB and subs and acquired entities FOR WHICH THE INVESTOR OWNERS OF THE RMBS PAID FOR, DO NOT 'COME BACK JUST BECAUSE OF THE "NAME" OF THE RMBS SECURITY.
...QED.
...EOF.
WMI/WMIIC Debtor's are not Kmart...
...that was a completely different company.
...pretty basic stuff.
...WMI/WMIIC never had ANYTHING TO DO WITH KMART!!!!!!!!!!!
...and as Kmart also encountered the obvious with regard to the lack of shareholder understanding of the bankruptcy process, valuation and fresh start accounting.
...some studies even suggested that, as a given, shareholders are "rationally ignorant."
stoxjock, the FACTS and REALITIES are...
...that the Long Beach RMBS TRUSTS represent "Securitized Trusts" (i.e., the hold the rights to the underlying mortgages by the sponsor bank (i.e., Long Beach at the time)).
...just because the NAME OF THE TRUST is an entity that WMB owned, it doesn't mean WMB (which was seized and sold), or its parent, WMI (which filed for bankruptcy) or the former shareholders of the bankrupt parent at the status of a confirmed plan and residual assets in a liquidating trust.
...simple FACTS and REALITIES.
...NO "Notices" (as promised) ever to WMILT or escrows.
...WHY?
...zip, nada, nothing to do with anyone other than the investor owners of each of the NAMED RMBS in the case.
Long Beach is not only not music...
...it has nothing to do with WMI/WMIIC, the debtors or the WMILT or even WMIH.
...just another scotomisation-based fantasy theory asserted.
Sorry, I would never be subject to the pitiful...
...release of all parties in interest in exchange for the terms and conditions of the mediated settlement accepted by Mike Willingham and Susman Godfrey (in which, IMO, they were the only beneficiaries of such).
...and, for over 5 years, hopelessly hoping for hidden, secret, scotomisation-based fantasy theories and assertions.
voodoo, of course not, the holding co assets...
...were fully disclosed in the petition, the filing of the schedule of assets, as amended, and litigated throughout the bankruptcy process.
...for information on the bankruptcy, and such holding company assets, here is a link to the appropriate site for such matter.
http://www.kccllc.net/WAMU
...in addition to the above, there were Monthly Operating Reports (those are financial) and litigation of contested assets; all resolved via the GSA and the court orders.
...hope this helps.
...subsequent to the Effective Date of the Confirmed 7th Amended Plan, the WMILT (which is a Liquidating Trust) has filed SEC financial reports revealing that there could be almost $.01 (a penny) for common stockholders (that 'released) "if everything remaining goes right."
Believe 'bot bloomberg or Audited SEC filings...
...of WMIH.
...simple choice.
https://www.sec.gov/Archives/edgar/data/933136/000156459017004292/0001564590-17-004292-index.htm
...no such subsidiary.
...audited.
...SEC filings.
...since 2012.
...not a mystery.
Bill48, if they "sold there risky loans" how...
...are they going to become "unsold?"
...i.e., if they sold them, they sold them, correct.
...when you 'sell something (i.e., one sells their house to someone else) you get paid.
...you don't get a 'second bite at the apple; i.e., you can't go back to the people who bought the house and paid you, to pay you again.
...pretty straight forward and simple.
...banks that 'sold mortgages via mortgage backed securities were paid at the time of sale to the trust securities.
...the banks don't get paid again.
...and, for sure, the shareholders of a holding company of a bank that sold such and was later seized and sold do not get any standing to be paid a second time.
...none of such fantasy theory or assertion EVER RAISED by any party in interest.
...EVER.
...with over a billion in professional fees (including equity).
...WHY?
...simply doesn't exist.
ReikoBlack, yep, Long Beach Mortgage Co has...
...nothing to do with WMIH.
...also, nothing to do with WMILT.
...it was an acquired subsidiary of WMB in October of 1999.
https://www.publicintegrity.org/2009/05/06/12991/no-5-subprime-25-long-beach-mortgage-cowashington-mutual
...for informational purposes, WMB was seized by OTS in 2008, placed into receivership of the FDIC, which simultaneously sold such WMB assets to JPM.
https://www.fdic.gov/bank/individual/failed/wamu_settlement.html
...as an FYI for investors, banks that packaged and sponsored (sold) mortgage backed securities (bought by investor trusts by payment to the sponsor selling bank), don't get paid for them a second time (i.e., not coming back).
...the banks, WMB and subs, do have retained interests in such if the mortgages in the series and tranches perform better than prospectus; and such is recorded and fair valued on the balance sheet and income statement monthly.
...as such, they "are on the books."
...they are not "off balance."
...and such assets of WMB were seized as per the above.
...EOS.
...EOF.
Good for you, the LT is previewing a penny...
...for commons that did the same.
...if EVERYTHING goes the right way.
...and AFTER the PIERS (thanks Nate, 4/100ths of a penny @ cost $25 on the sale) are paid.
...and granted release of all of the parties in interest, forever.
...in the realm of reality only, of course.
Yep, so true...
...the billion paid to the professionals of the government, the largest bank, the largest hedge funds and the 'brilliant Susman and Willingham, YET they all MISSED THE HUNDREDS OF BILLIONS OF MBS "off-balance" or "Deutsche Bank Trusteeship" or "in safe harbor" or "ABS certs" or "retained interests" or "5-year capital loss $24 settlement guaranteed in March 2017" or the "2014 guaranteed 'reconciliation, reconciliation," or (pick a shell to move) in the failed theories and assertions uncovered by the GREAT "DD."
...they didn't miss any of it.
...in the realm of reality.
Dude, "notices to holders of WaMu Securities" is...
...not escrows.
...it is the investors/owners of the mortgage-back securities sponsored by WMB and sub.
...no escrow holders 'got the NOTICE that was guaranteed to come per the analysis of the CA Probate Court Judge's statements.
...not part and parcel; a myth, a scotomisation-based fantasy theory.
...one of hundreds, for billions, tens of billions, hundreds of billions and even trillions.
...none came true.
...the guarantee and date, failed and passed.
...as they will continue to do 'till the end (of time).
...such theories and fantasy assertions fail to watch and learn from the 100% failures of such, and rely on the next scotomisation-based fantasy theory.
I do know it is coming, the end...
...of the FDIC receivership of WMB (after the Deutsche Bank Settlement Agreement is executed).
...that will 'close that fantasy door.
...but one will open in another alt-realm.
...then the liquidating trust will end.
...that will 'close that fantasy door.
...but one will open in another alt-realm.
...it is not LOL, it is actually very, very sad.
No worry at all, not burdened by releasing...
...and having to hope for fantasy theories and assertions to come true, day after day, week after week, month after month, year after year.
...when, in the realm of reality, there has not been one single break in the disclosures by the debtors, the plan, the GSA, the WMILT etc., on the one hand, and the FDIC receivership on the other, and the same with the third hand JPM.
...zip, nada, zero from such theories of billions, tens of billions, hundreds of billions and even trillions.
...ending "soon" happened in December of 2011 to the reasonably prudent investor who cashed out at under $40 when "reading the actual mediated settlement" and not the fantasy theories and assertions in the alt-realm.
A&M is NOT == FDIC-R, they are...
...a professional consulting firm involved with bankruptcies, reogranizations, etc. in this regard.
...they work for the Liquidating Trust.
...after they worked for the debtors.
...again, A&M is NOT the FDIC-R.
Upperlippy, not my source quote, but an...
...admission that the fantasy recovery assertions and theories could be "or zero dollars."
...again, not my statement.
...following the post and reply links.
...comments in RED.
Total misinterpretation of standard MBS process...
...IMO.
...and the JPM disclosure of $-0- obligation as servicer for the "repurchase obligation" on the WMB serviced loans.
...and also of JPM's capital raise authorizations.
...totally mutually exclusive.
...zip, zero, nada, nothing to do with WMI, WMIIC, debtors, WMILT or former shareholders of WMI.
The three billion is an allowed claim...
...against the "receivership."
...nothing to do with the WMILT.
...that "claim" is prioritized with others, and the 'net settlement to the Deutsche Bank (as Trustee) 127 Primary and Secondary trusts is attached in the Expert Witness court document.
...they'll bet $697M less $5M in fees.
...the receivership has always had 'something; so it has never been asserted that there "is no money."
...it is a fact, that there "it no money" regarding this matter, and the receivership, for the WMILT or for the former shareholders of WMI directly or indirectly (in the realm of reality).
There is no wonder at all, and...
...totally absent any relevance at all to WMILT, WMI, escrows, former owners, original owners, etc. et al.
Correct, GAAP and Liquidation Basis...
...simply simple.
Sound, clear, concise and correct...
Desperado90, not close to a dime coming back...
...escrow will get rewarded with what was disclosed and is in the WMILT financial SEC filings.
...dude.
There is nothing there coming back.
...just because the name Wamu, Wmb etc. is used is totally absent of the sale of the mortgages to the owners of the securities.
Correct.
No, there was a negotiated rate, then FJR...
...fully disclosed throughout the bankruptcy hearings and in the court documents.
...at the following site are the links.
http://www.kccllc.net/WAMU