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.
You are right, and it is what it is...
...it just won't 'get accepted by all.
...Managing partner of national law firm - 'got nothing to do with you re: our notices (um, just to the investors that owned the RMBS certs).
...check it out with 'your LT (ooops, she doesn't know it's called the Propaganda Machine; has filed false and fraudulent documents since 3/2012).
...and, there has been a massive division and ship of the tens to hundreds of billions theory sources.
...NOW it is all back again to the TPS of WMB that were "conditionally exchanged" at the directive of OTS prior to seizure.
...NOW the TPS security holders got WMI preferred stock, and the underlying pool of mortgage securities (there is a whole file with all of this in it right in the documents; $11B+ "toxic") that the OTS, FDIC, WMI, WMB, JPM, and the Court Opinion ruled went via WMB to JPM, is now NOT SO.
...now it is theorized that those underlying mortgage pools and asset classes clearly identified in the adversarial in BK court, really ARE STILL THERE!!!!!!!!!!!!!!!!!!
...waiting to be PAID TO THE FORMER HOLDERS OF EQUITY SECURITIES (a laugh 4sure, not WMB, the BANK, but the holding company PARENT of the BANK (which didn't issue them or have any retained interests)).
...IN THE FORMER HOLDING COMPANY.
...THAT OWNED THE FORMER WMB BANK AND SUBS "that securitized" such in the first place.
...total, I hate to demean diminish the term, 'fantasy (it really doesn't rise to the level of fantasy at this point).
...it's SAD.
...while we have a pending acquisition/merger none the less; NO INTEREST AT ALL IN THAT.
...and the theory asserts that all of the TPS underlying mortgages (HEL's) will be coming back to WMIH, low and behold, with all of the past principal and interest payments (shhhhhhhhhhhhh, they are secret).
...begs the Q - with this being KNOWN by MW and King Kong Susman, why give up 1% of WMIH to anyone?
...the A is easy.
...un-freaking-believable (but apparently NOT in 'wamuland').
...a very "special" place 4sure.
Bo, it is very easy to calculate his earnings...
...in cash compensation and in shares.
...it's in the SEC filings and the 10K's and 10Q's as well.
...I summarized it at one point; look it up and update it for 2018.
...through 2017 -
1. WMIH Cash Compensation $873,238 Stock 513,383 (@ $1.40 = $718,736).
2. WMILT Cash Compensation - TAB $230,000 LTSC $43,723 = 273,723.
Total Cash Compensation $1,146,961.
Total Stock (@$1.40 merger reference for estimate) $718,736
Simple math appears to my meager eyes to be over a million.
...not rocket science.
SGB, could you point me to posts where...
...the details from the SEC filings and exhibits are outlined, analyzed, discussed back and forth, etc.
...or where across-walk table of the WMIH shares versus the $18 cash at the set CAP and prorated; i.e., how the PPS of WMIH makes such Mr. Cooper shareholders either winners or losers visa vi the cash option?
t1215, I was fooled from the 'get go...
...until it was too late to expose him and effort to get rid of him.
...he was too entrenched and SS 'personally had his back versus the other EC members IMO.
SGB, that's primarily all that is discussed...
...try catching up and reading all during the announcement of a significant merger/acquisition for billions, plus almost $3B in financing, is drowned out by the pure volume of the misconceived, rehashed, unsupported theories and fantasies.
...
katekir1234, a simple phone call or email...
...to those parties handling the Deutsche Bank Trust settlement and the initial distribution (NO NOT ONE OF MANY FOR YEARS; clearly stated as 95%), will confirm WMI securities holders have ZERO TO DO WITH THE ENTIRE MATTER.
...the are identified in the OP.
...ZERO relevance to anything WMI, WMIIC, WMILT or WMIH or releasing WMI shareholders.
...the truth is only a phone call or email away.
...ends all escrow theories (man they've grown to trillions and trillions, and have all failed).
ron_66272, you're not getting anything...
...from such (the Deutsche Bank National Trust, as Trustee, initial distributions (95% of prorated claim received from FDIC-R as per the FDIC-R website disclosures and the Deutsche Bank National Trust disclosure and embedded law firm guidance)).
...nothing.
...WHY?
...well, it is so simple.
...such has 'nothing to do with WMI securities (former P, K or Commons, or TPS conditionally exchanged preferreds).
...100% to do with owners of WAMU MBS securities.
...i.e., not WMI (former) shareholders.
...rather, holders of the MBS securities.
...simply CALL or EMAIL the two contacts in the announcement.
...not rocket science.
Who gives up 1M shares on this news...
...is a good question @ 14:57:23
...well as "who knew what when?"
...Series B renegotiated date - December 11, 2017.
http://www.nasdaq.com/press-release/wmih-corp-announces-amendment-of-series-b-preferred-stock-terms-20171211-00491
...Final bids submitted for Nationstar (Mr. Cooper brand) - December 11, 2017.
https://www.streetinsider.com/Mergers+and+Acquisitions/Nationstar+%28NSM%29+Said+to+Have+Received+Final+Bids+-+Bloomberg%2C+Citing+DealReporter/13593736.html
JOHNNY, this proves my belief right...
...and all the tens to hundreds of billions theories?
...WMIH acquiring the secret, hidden, fantasy legacy trust assets of the legacy WMI?
...100% WRONG.
...they are a NON-BANK servicer, sub-servicer.
...but, NO DOUBT, new theories will erroneously be created to point to these guys "were need to handle the three quarters of a trillion legacy trust mortgages.
...100% unsupportable theory in the real world; the certificate holders are the ones getting paid P&I back, any residual (investment grade or trading asset retained interests') were in the P&AA, disclosed by JPM in 2008 in the annual report and thereafter, and are "on the books of JPM."
...I own WMIH.
...and I can't believe how much I love more everyday that I didn't make decisions that resulted in ESCROWS.
...WMIH, another + experience in the $aga.
No, the Court doesn't open 'new discovery...
...in the real world, a PARTY IN INTEREST MOVES SUCH.
...in a 'motion (i.e., a filing, in the real world, in the bankruptcy court as cited).
No Problem with JPM getting the short end...
...one day; of the WMB matter or literally hundreds of other matters over decades and decades.
...comments in RED.
JPM was/is released, all under the GSA, back..
...back back in time of the world in March 2012.
...they're pretty much settled with the FDIC-R (oh hum, THEY GOT PAID; no they didn't pay book value LOL).
...there is nothing coming from JPM.
...there is nothing coming from the Deutsche Bank Trusteeship (for the owners; including moms and pops THAT GOT THE NOTICES LOL).
...there is nothing coming from the owners/investors of the MBS trusts.
...there are no hidden assets.
...there is NO SUCH THING AS SAFE HARBOR for WMI/WMIIC (hint, they never were 'banks that issued MBS; if they BOUGHT MBS INTERESTS, 'they'd be ASSETS disclosed.
...no PARTY IN INTEREST HAS ASSERTED OTHERWISE.
...speculation, assertions and theories otherwise are, well, apparently not been so good (0% accuracy).
jhdf51, so the frustration is "unmerited" but...
...the 'causal assertions of the fantasies (regarding the stock, bankruptcy, liquidating trust) as truths yielding the frustration is not?
...sorry, the horse does come before the cart.
...ones' frustrations (regarding the stock, bankruptcy, liquidating trust) are truths (and personally adjudicated is always genuine for anyone in 'their own perspective) and, IMO, to censoriously opine on such and categorize as "unmerited" is more appropriately "unmerited."
...however, that would be an "opinion."
Sorry SweetGeorgiaBrown, a CORRECT READING...
...and "understanding."
...of the source documents links and images actually (and clearly) refutes it.
...credential professionals are available for consultation on such quite typical financial and organization matters theorized.
Declaration of James Carreon re: State Bank...
...the whole story; with referenced flow charts and narratives.
...the State Bank theory is a tad new (like the previous theories, book value, 5-year capital loss date, abs certs, MBS's all being paid for a 2nd time the trust owners, and on), but when one looks at the entirety of the support documents available re: Declaration of James Carreon re: the structure of WMI, WMB and the banks and nonbank subs, it is clear.
...the source document.
https://www.kccllc.net/documents/0812229/0812229110427000000000035.pdf
...key elements re: false theory re: State Bank.
...actually quite simply laid out by Jim.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
mufa, the references are not factual or based...
...on financial or regulatory accounting standards or insights.
...as has been stated for years, and TIME HAS PROVEN CORRECT,
note the following comments.
TJ0512, great, factual post that has been...
...presented before for years.
...just the facts though, no 'rainbow related pot of gold findings.
...again, solid, grounded, factual.
..accurate GAAP accounting and financial and regulatory reporting for both 'portfolio loans and loans 'sold via securitizations.
TJ0512, your facts and realities are verifiable...
...as you appropriately note.
...such actually do exist in the real world.
...so, such will not be visible from 'all perspectives.
hotmeat, thank you. It is what it is...
...always has been.
...bolded by me for emphasis.
hotmeat, that is totally inaccurate, Kosturos is...
...an employee of A&M; A&M is paid by WMILT and they pay him.
...note the language ~ "A&M, on behalf of Mr. Kosturos"
...it is clearly stated in the agreements.
...it has been clearly stated in the 10K since 2012 to current.
...also incorrect, it is not $15,000 per month since January 1,
2015.
...these are public documents.
...the amounts paid to A&M for these two (Kosturos and Maciel) are also fully disclosed in the 10K's.
...note the following per the 10K.
...note the following from the prior year for the change in Kosturos' rate to $25,000 per month effective 1/1/2015.
...comments and corrections in BLUE.
The tax refunds received to date and...
...the amounts still pending resolution.
...@ 20% to the WMILT for federal purposes (there are and have been other state tax matters).
...have been significant, the amount receivable is significant (if successful).
...and when "grossed up" for the 80% JPM portion, massive.
...a simple reference to the recent QSR and last 10K are explanatory.
http://www.wmitrust.com/wmitrust/document/8817600171031000000000001
http://www.wmitrust.com/wmitrust/document/8817600170419000000000001
...as such, the assertion in RED does not appear to be accurate.
...that's what A&M has been 'working on probably ~ as per their actual engagement letters?
Thank You BBANBOB for your 9+ years...
...of input on the matters.
You forgot 2 important things; reality...
...based, of course, IMO and OSM.
...comments in RED.
Yeppers, CIRCLE of WMI Fantasies ~ Round and Round…
…almost 10 year carousel ride, imagined trillions upon trillions that have been recycled and repeatedly found.
…until each and every date of the guaranteed fantasy pay day and source from great, thankful, valued, appreciated 'but flawed, misinterpretations, lack of understanding and 100% failed dee-dee comes and goes.
…then like clockwork and without ‘looking back, ‘the way forward births another fantasy with even greater and more imaginary ‘know what you own prose.
…continuing the multifarious dream CIRLCES with an end that demure prevents acceptance of reality or sees.
…scotomisation or confirmation bias-based fantasies, and much, much more, such continue to purport UNICORNS in trillions of trees.
…3/4ths of a trillion of WMB and sub mortgage-backed securities, $2B-900B-$10B pogo stick in retained assets, perpetual income streams from 100% owned ‘certs, $24B book value 100% to take place in March 2017 for the 5-year Capital Loss tax rules, WMIH shares-for-value of hidden off balance assets in WMIIC @ either the WMILT or WMIH, $165B of off balance Safe Harbor first @ JPMC, then @ FDIC-R; but nowhere to be found, now the European WMB noteholders, the Trust Preferred Securities that JPM now has to pay but has not disclosed in SEC filings and has been audited for almost 10 years, $24B solely because 32-8=24, billions in DELL purchased NOL tax refunds, etc. et al 'it always changes; all trillions upon trillions *and more that were FOUND, missed by over a BILLION FEE-PAID PROFESSIONALS, and always 100% never came true.
...and none (of the above such 'trillions and trillions that have been found) in the Equity Committee slide for $33B litigated and settled by the GSA and the Mediated Settlement agreement as disclosed (no wonder why at all).
…despite the fact that real elapsed time and results have tarnished such ‘tell fantasies as all failures of great mythical and fake lore.
…all with total maladaptive avoidance coping of the real bankruptcy Plan documents and Mediated Settlement results clearly and fully disclosed.
…because time has confirmed such in proof that, other than WMIH shares, as foretold, could it be that Mike and Susman ‘got the FRUITS while equity’s TURKEY got literally hosed.
The CIRCLE of WMI Fantasies ~ Round and Round…
…almost 10 year carousel ride, imagined trillions that have been recycled and repeatedly found.
…until each and every date of the guaranteed fantasy pay day and source from great dee-dee comes and goes.
…then like clockwork and without ‘looking back, ‘the way forward births another fantasy with even greater and more imaginary ‘know what you own prose.
…continuing the multifarious dream CIRLCES with an end that demure prevents acceptance of reality or sees.
…scotomisation or confirmation bias-based fantasies, and much, much more, such continue to purport UNICORNS in trillions of trees.
…mortgage-backed securities, retained assets, ‘certs, book value, shares-for-value, WMB noteholders, etc. et al; all trillions upon trillions *and more.
…despite the fact that real elapsed time and results have tarnished such ‘tell fantasies as all failures of great mythical and fake lore.
…all with total maladaptive avoidance coping of the real bankruptcy Plan documents and Mediated Settlement results clearly and fully disclosed.
…because time has confirmed such in proof that, other than WMIH shares, as foretold, could it be that Mike and Susman ‘got the FRUITS while equity’s TURKEY got literally hosed.
The 13F's by the hedge funds @ 9/30/17 seem...
...by their strong hold or adds.
...IMO, to be the impetus for the positive traction.
...just IMO, as if "anyone knows anything" it will those in that group (especially those not backstopped also as Series B preferred holders).
...GTK.
JWW, "yes" certain hedge fund certainly do...
...benefit greatly from a renegotiated lower conversion range for the SB's, lower PPS to support such, as well as the 'potential for reverse splits.
...which ones?
...you got it actually in the general reference "as well as Citi/KKR."
...but note, Citi isn't a SB shareholder at all; there is a list of those that are (including the hedge funds).
...the ones that ARE ALSO SERIES B PREFERRED SHAREHOLDERS.
...so, equitably, they should be excluded from the discussion that "the hedge funds" do not benefit from "such."
...i.e., "they" have a potential future very beneficial backstop that the rest of shareholders do not have.
EXDIMER, yeppers for sure, it's amazing...
...to espouse support for any theory that those MBS securites investors that bought almost 3/4ths of a trillion of WMB and subs MBS over time and prior to seizure have to pay for them again (to the former shareholders, of the former holding company, that owned the former bank and subs, seized and sold).
Docket 9698 ~ Tranquility Stipulation and...
...Agreement.
...WMB bondholders ('bagholders) for $9M; that's it.
...and not for WMI "interest in MBS," rather implicated involvement in false information (in the MBS issuance by WMB and sub).
MBS sponsored, sold via securitizations prior to...
...WMB seizure are OWNED BY THE INVESTORS THAT BOUGHT THE MBS SECURITIES.
...WMB, and subs, retained interests in such, depending on asset quality (investment grade, recorded as asset, less than recorded as retained interest and reported as trading assets) WERE ASSETS OF WMB that were 'seized and sold.
...the proof was to be the Deutsche Bank CA Probate Court notice to the 'mom and pops (i.e., WMI escrows).
...nope, didn't happen.
...WHY?
...WMI/WMIIC had "NOTHING TO DO WITH" such MBS; neither were BANKS.
...and 'Safe Harbor is re: IN PROCESS MBS that quality for protection and sale treatment (FASB); THERE WERE NONE AT SEIZURE.
...just an FYI, such "protection" is for the BUYERS OF THE MBS SECURITIES (i.e., not the former shareholders, of the former holding company, that owned the abandoned former bank after it was seized and sold).
WMB has been out of the TAX GROUP since...
...abandonment.
...as noted in all documents.
...and hearing transcripts.
...there were two ways WMB could leave the TAX GROUP.
1. The receivership concluded, or (note, not both)
2. WMI 'abandoned WMB.
...WMI 'abandoned WMB (which by itself had $17B of NOLs that 'could never be used), in order to get ORDINARY LOSS treatment on the abandonment that generated the $8.7B NOL "prorated" days after/days in year by abandonment date, netting almost $6B in NOLs (unrestricted).
...pure credentialed facts disclosed for almost 6 years.
...the suggestion that the end of the receivership (or even more confabulated that completing the P&AA with JPM) marks the exist from the TAX GROUP is, well "nonsense" in the kindest of terms.
Yes, there is a 10Q filed and issued...
...as expected.
https://www.sec.gov/Archives/edgar/data/933136/000156459017023336/0001564590-17-023336-index.htm
JWW, I see the PPS as relevant and embedded...
...in the SB's conversion calculations.
...for the average VWAP over the 20-day previous trading.
...in red, I don't agree with the "PPS on the day of the announcement" (I don't know if it was an accurate quote, but note below, that is not the conversion PPS).
zeus, don't know, but as the end time approaches...
...for the SB2's, #1 probability would appear to decrease.
...and the other possibilities would appear to increase.
JB, if #1 takes place all is well, if not...
...it's just not a pretty picture.
...I won't even post the dilution if the SB's conversion range is in the $.75 to $.25 CAP to Floor range; it's massive.
...which does beg a RS for obvious reasons.
...IMO, "if so," the 3rd party consultant/advisor to the 'independent directors are classic CYA moves by hedge funds 'taking care of themselves.
(WMIH) So what will eventually take place...
...out of the following scenarios ~
GOOD
1. An 8K announcing a qualified M&A utilizing the existing Series B funding (in the conversion range of CAP $2.25 - FLOOR $1.75; Floor $1.75 if lower VWAP terms at announcement)?
BAD
2. An 8K announcing renegotiated Series B funding terms and conditions (of importance is a new conversion range; CAP $0.75 - FLOOR $0.25 as an example, and MASSIVE DILUTION)?
3. An 8K announcing the expected termination of Series B funding?
4. An 8K announcing a reverse split (5-1 or 7-1 for example)?
5. A 10Q disclosing the complete write off of the $73.298M asset and the related loss from (3) and or the 0% chance of such asset valuation being activated impacted on the Derivative Asset - Embedded Conversion Feature?
Theories, fantasies versus actual EC disclosures...
...the EC disclosures, i.e., the Plan disclosure statement etc. et al.?
...have been spot on.
...the alt-theories and fantasies?
...not $1.
...asterisk *gavel was down in 2012 based on the mediated settlement (Mike ($1,146,961 in CASH compensation so far) and Ed (really SS)).
...asterisk *there is NO SUCH SAFE HARBOR @ WMI/WMIIC/WMILT (Safe Harbor "protects the MBS security investors in perfected interest in the underlying mortgage pools FROM THE FDIC and creditors).
...OF THE BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAANK.
...WMB and subs (SEC reported by JPM, "audited since 2008," and in SEC filings since 2008).
...WMI/WMIIC/WMILT "not a BANK."
...this was and is it.
...OPINION?
...NOPE.
...just the facts.