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hotmeat, really, some factual awareness...
...of what really took place.
...FA in RED.
There will be NO NOTICES sent out or...
...or received.
...regarding WMI "Change In Control" (a term that is being used in the relevance to the Employee Claims; i.e., that it happened when seized and/or sold to JPM).
...it has NOTHING TO DO WITH ESCROWS, especially re ~
...the Deutsche Bank (as TRUSTEE) and California Probate matter approving the Settlement Agreement (on behalf of the TRUST OWNERS) and the FDIC.
...which are just SOME of the MBS' "where Serving Rights were retained by WMB or Subs," such rights that JPM BOUGHT.
...along with the $240B "PORTFOLIO LOANS."
...or the side Settlement Along between the FDIC and JPM (which is PAYING THEM $645M; i.e., not JPM PAYING the FDIC $24B as "studied and researched").
...again, there will be NO NOTICES to escrow holders regarding the above referenced items.
...this week.
...this month.
...next month.
...or any next year.
...EVER.
...the WMILT QSR's clearly identify the recoverable potential assets and claims to such, with settlement of classes per the waterfall outstanding.
...look for $50M-$75M as MAX if 'everything works out (by the supposed good friend of equity, BR).
smug_rat, wrong Willingham, simply research...
...this matter using the search feature.
...been discussed many times over the years re: the who the Chairman of the Equity Committee, Michael Willingham, was.
...again, also referred to as a 'forensic specialist repeatedly for years.
...hope this helps, or someone else could add.
...per the TFSG (note, "F" stands for Forensic) website.
...and the WMIH website.
hotmeat, agreed, "nothing to do with...
...the bankruptcy.
...as I stated, only WMB or subs could even employ Safe Harbor and record revenues and reduce mortgage assets under FASB standards (WMI,WMIIC not banks and never issued such).
hotmeat, $6B+ almost all profit for...
...the WMI note holders.
...not 30-50% return.
...PLUS INTEREST!
...check the 2019 filings.
...check Nate's testimony on the PIERS (4/100ths of a penny).
WAMUSHAMU, wrong Michael Willingham, easily...
...confirmed.
...just go to the correct persons' website and credentials.
https://www.tfsg.net/
hotmeat, what is MOOT is that WMB or subs...
...were the ONLY ENTITIES that could possibly ever RECORD THE SALE OF THE MORTGAGES ON THE INCOME STATEMENT, REMOVE THE MORTGAGES FROM THE BALANCE SHEET (in accordance with the FASB requirements) for such mortgages backing the securities (i.e., Mortgage Backed Securities) to be in SAFE HARBOR for the PROTECTION OF THE INVESTORS/OWNERS of the MBS.
...what is being forwarded in the MBS fantasies are ALL PRIOR ISSUANCE OF MBS by WMB and subs; and such are COMING BACK.
...again, WMI/WMIIC, were not banks or issuers of MBS (i.e., the never issued mortgages as per court documents in defense of claims by deadbeat borrowers that don't want to pay their mortgages).
...so, as clear as day, and confirmable by any credentialed MBS professional, there could be NO SAFE HARBOR that "APPLIED TO WMI/WMIIC at the Petition Date.
...and, although none identified, if WMB or subs had completed securitizations to the point of FASB satisfaction to record the sale and remove the loan assets, it was SEIZED and sold to JPM.
hotmeat, the point of the settlement amounts...
...for the $4B deposit and the tax refunds are not only NOTEWORTHY, but, along with the assets of WMI and WMIIC that were liquidated or are being liquidated by the WMILT, IS ALL THAT THERE IS.
...actual pertinent reply(ies) in RED.
fwh3334zeke, sorry, the 8 year fantasy is over...
...all the theories before the confirmed plan, and stunningly, the continued and new theories after the confirmed plan, global settlement agreement, disclosure statement, equity support, ballot instructions for the releases, etc., and the 5+ years of filings of the WMILT in court and SEC.
...reality in RED.
hotmeat, quite to the contrary, the amounts...
...recovered and paid to creditors, based on the deposit account and the tax refunds, were significant.
...and "just above equity."
...wow, that seems "less than a coincidence."
...not discounting such at all.
...they would not have litigated, adversary until GSA, if there were other HIDDEN, SECRET, OFF BALANCE, SAFE HARBOR BILLIONS, TENS OF BILLIONS, HUNDREDS OF BILLIONS, AND EVEN TRILLIONS that really existed.
hotmeat, the WMILT is "100% credible," and they...
...would not "not disclose" the potential for MILLIONS from such theories, never mind BILLIONS and certainly not HUNDREDS OF BILLIONS.
...I agree 100% with the WMILT disclosures; i.e., 100% credible.
user7770, agreed, the guaranteed theories...
...are 'too certain.
...and have been always wrong.
...TRILLIONS.
...EIGHT YEARS.
newflow, how do "I" know this...
..."material non public information?"
...because it isn't non public information.
...it is pure fantasy, never mentioned by any party in interest, the US government agencies, regulators, branches of government, the largest bank in the world, the largest hedge funds, with over a billion in professional fees, including equity (the great and powerful Susman and forensic Willingham EC Chair).
...WHY?
...when then argued over $4B deposit and tax refunds?
...FANTASY.
The FACT of the matter is, the answers are...
...already known to the reasonably prudent person and investor.
...comments in RED.
For the Islands and Florida ~ BStrong...
...massive damage to the C islands; potentially a couple more on the way.
...hang on, we'll all be there after.
...Forida, think smart, prepare; we'll all be there after.
...again, BStrong.
Good luck to the Islands and Florida...
...seriously; still looks very powerful.
...didn't need this one already.
...as the long-term clean up in Texas just begins.
wowalters, as noted, action in Court...
...is really the only avenue to try to make up for releasing and accepting the concluding documents terms and conditions.
...and no, the FDIC doesn't have a mandate as asserted to 'do it for WMB shareholder (WMI) or its' derivative (ladder up to holding company) and notably 'former shareholders who accepted the 7th amended plan and released.
...you should know that there was a bankruptcy of WMI, the shareholder of WMB.
...here is a link to the website with over 10,000 court documents.
http://www.kccllc.net/WAMU
...at that site are the concluding solicitation documents for WMI shareholders in making their decision to release.
http://www.kccllc.net/wamu/info/5123
...of note, the 7th Amended Plan in included what is known as the Global Settlement Agreement (or "GSA").
...much of the settlement among and between the parties in interest, FDIC, JPM, Creditors and adversarials such as Equity.
...such settlement includes the 'oft misunderstood 5th taking, but also the P&AA (which will soon be finally RECONCILED with a $600M+
PAYMENT to JPM.
...hope this helps.
...but, IMO, it's been a done deal since March 2012.
...September 5th came and went; nothing came true again for the escrow distributions.
...one of hundreds of dates that have come and gone, trillions found and never converted to $1; why, "it's been a done deal since March 2012" except for Mike Willingham and Susman, "it was a done deal for them (*and their interests') in December 2011."
...but go for it anyway.
hotmeat, Tepper has to disclose affiliates/subs...
...in the 13F as his control.
...he's done this once already.
...it is not allowed to hide the transfer of interests to affiliates and subsidiaries re: 13F disclosures (not only silly, but illegal).
...the SEC (which is the Securities and Exchange Commission) has instructions for the form as a "starting point" to begin to learn about such.
https://www.sec.gov/divisions/investment/13ffaq.htm
JWW/BD, Ahmanson WMI loans explained in 2015...
...pretty clear.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115235527&txt2find=
That's a perfect replication for the theories...
...of $15B-$25B 'coming back from retained interests ~insig.
LexTrader, correct, no actions at all...
...over 5-8 years.
...just great DD, trillions found; just none that were real and ever materialized.
...just like no court filings demanding information from the WMILT.
...no intervention into the CA DB "Trusts" case for the FDIC settlement approval.
...again, no actions at all.
...EVER.
...so you might have found it.
LexTrader, GREAT POST, best in a long time...
...yep.
Huh? credibility or CREDITIBITY? What...
...are you talking about?
...the 144 horse funds?
hotmeat, might want to check the facts...
...re: "anyone."
...here's one, there are many.
yes9, apparently merely disregards fantasies...
....not knowledge.
...which is to one's credit.
...sticks to the real documents, not imagined ones.
...which are quite common after a company's shareholders are wiped out from a bankruptcy; although shareholders in WMI did win a significant fair and reasonable mediated settlement in being allowed to participate in the reorganized debtor.
...citing actual bankruptcy documents is not negative, IMO, rather factual.
...September will come an go, nothing magnanimous for escrows; theory failure again.
...it won't matter, trillions have already been found, they were coming by certain dates from certain sources, then they failed also.
...this will continue past the Deutsche Bank settlement, with the WMB Sr. bondholders and the FDIC, (no $165B for escrows) and with JPM getting paid (oooops, not paying $24B in book value (see below), you know 32-8 is the principled argument on that one) and nothing to escrows.
...as was with the $24B coming in March 2017 to use the 5-year CAPITAL LOSS (ooooops, nothing happened).
...these examples of 'knowledge just don't seem to be to accurate?
...and now we are schooled that WMIH (the reorganized debtor) is like Kmart (it has no stores, isn't in retail, and isn't in bankruptcy).
...YIIIIIIIIIIIIIIIIIIKES.
...must not be ripe.
hotmeat, thanks for agreeing, Kmart had no...
...hidden, secret assets.
...as the MEMORANDUM OPINION states (not overturne, doesn't matter what College Kids thought of it), "no rational investor" or any "literate person" would believe otherwise of the $4B valuation of the real estate rights prior to Fresh Start accounting.
...just like re: WMILT, "rational investors" and "literate persons" understand Liquidation Basis of Accounting; without, just misinterpretations.
...and the Courts Memorandum Opinion is not "an utterly and bogus and inane argument."
...at least not up here in the US.
...agree re: similarities with WMI, WMIIC re: rational investors and literate persons.
...don't agree with how you state that there are many similarities with WMIH."
...WMIH didn't file bankruptcy and didn't have retail stores.
...WMIH is the reorganized debtor, a NASDAQ public company.
...WMI/WMIIC, the debtors, filed for bankruptcy and have a confirmed plan (no redactions).
...WMI's primary asset was WMB, a banking subsidiary.
...WMB was seized by OTS, placed into receivership of the FDIC and essentially sold to JPM sans debt.
...WMIH is not bankrupt.
...YIIIIIIIIIIIIIIIIKES.
Of course they did, and there is no more...
...on the way back.
hotmeat, the Court Memorandum Opinion is...
...what it is.
...citing 'college studies.
...citing plaintiff's adversarial claim.
...moot.
...the Court ruled.
http://securities.stanford.edu/filings-documents/1036/SHLD_01/2009721_r02x_06CV4053.pdf
...read it.
...the Court considered all of the silly plaintiffs arguments noted.
...and 'ruled otherwise.
...kmart is over, get real; WMI WMIIC is not Kmart.
...now kmart, not retained interests.
...hmmmmmmmmmm.
hotmeat, that is the actual court order...
...i.e., if not familiar, the Memorandum Opinion.
...of the Court.
...not "fabricated opinions."
...rather, the opinion of the Court.
http://securities.stanford.edu/filings-documents/1036/SHLD_01/2009721_r02x_06CV4053.pdf
...read it.
...all of the theories, assertions, studies...etc., just like WaMu, a lot of "findings" that the Court found not worthy.
...again, the link is to the Court ruling.
...suggesting the Court fabricated its' opinion is rather odd.
...alternately relying on "College of Law Student Work?"
...YIKES.
wowalters, well, you can give it a try in court...
...but I don't think that referring to my opinion of the value of WMB will meet the threshold of 'scienter for the actions of the US Government (Branches, Agencies, Regulators, Justice, Treasury, FDIC, etc.), JPMorgan Chase, their Auditor's, the Debtors WMI and WMIIC, the billion of professionals compensated, the Debtors Monthly Operating Reports, WMILT's Quarterly Status Reports and SEC filings as "fraudulently filed" (really, there isn't even one instant of suggested 'defalcation).
In Kmart, the real estate and leases > $4B...
...and were the most discussed aspect of the case and the valuation.
...that's a 'far cry (or laugh so hard) from "ever reading anything about the value of their real estate."
...as with WMI/WMIIC and WMILT, there was and is nothing hidden.
...everything is there; it just must be understood.
...here is a link to the subsequent court dismissal of the shareholder plaintiffs of Kmart who made similar assertions about 'scienter and valuations (but, as noted, just didn't understand the basic valuation and fresh start accounting).
http://securities.stanford.edu/filings-documents/1036/SHLD_01/2009721_r02x_06CV4053.pdf
...they lost.
...I've bolded the pertinent statement re: the "no rational investor" as it pertains; as well as "any literate person."
...some quotes, but read for yourself.
gg4, thanks, re: "any court documents" as...
...such magnanimous amounts and sources were never, ever mentioned once by any party in interest or reasonable person.
...comments in RED.
Nope, I think all of the zeroes are here...
...and in the right order.
...and I actually stated the amounts "or less."
...everything needs to come in as estimated and the claims need to be settled favorably.
...then a couple of other small gems to be paid.
...then distributions of the tens of millions left to the escrows.
...might see a half to a whole.
...penny on the former commons.
I don't know why some investors were released...
...really don't.
yes9, if the $50M-$75M does come through...
...then that will be cause for celebration.
...after all, long wait.
EXDIMER, actually, FALSE HOPE is very, very...
...much part of the 5-8 years of 100% failed theories and assertions that have no basis in the reality of the court hearings, rulings, orders or the documents.
There's likely $50M-$75M OR LESS coming back...
...per the WMILT QSR.
http://www.wmitrust.com/wmitrust/document/8817600170728000000000001
...the "M" stands for millions.
...if all asset estimates are achieved (the tax refund refiling with the pertinent historical support data being mined by A&M, which has retained former WAMU tax personnel; which does not appear to be DONE by September 5th BIG PAYDAY ASSERTED), and all 'claims do not prevail THOSE ARE NOT DONE BY September 5th either.
...so.
...the assertions, theories, guesstimates of billions, tens of billions, hundreds of billions, almost a trillion etc. are not sourced by any supportable reference at all, by any party in interest, in over 8 years, the adversarial US government agencies, the largest bank in the world, the largest hedge funds in the world, or their professionals paid over a billion in fees, including equity and counsel (i.e., Mike the forensic EC Chair and the great and powerful O...Susman)..
...WHY?
...simple, simply nonsensical.
...the WMI Liquidating Trust is the ONLY source to a reasonably prudent person, IMO.
...the FDIC receivership has published its' Settlement Agreement with Deutsche Bank TRUSTS (i.e., the owners/investors of the original $165B in MBS SOLD as sponsored by WMB and subs), as WORKED OUT BY THE WMB SR. BONDS "STEERING COMMITTEE" (i.e., yep, that's all folks; they share with DB TRUSTS in the """""remains""""" of the WMB receivership assets).
...the FDIC receivership has agreed to RECONCILIATION, RECONCILIATION, RECONCILIATION with JPM to CLOSE OUT THE PURCHASE AND ASSUMPTION AGREEMENT; they will be PAID $600M+ (note, they will NOT BE PAYING "BOOK VALUE" in order to use the CAPITAL LOSSES by March of 2017 guaranteed???? Ooooops; not paying $24B BOOK VALUE (of course, 32-8); rather, getting PAID $600m+ (go figure??).
...Susman Godgrey isn't working for equity (hasn't since Effective Date) (and isn't on FB either; they are looking in to who is doing the "impression").
...Chairman Mike is still 'tooling his mediated deal that was fair and reasonable to him (thinking a bit, if he really "put it" to the hedge funds, why would they keep him on the BOD?????).
...must be supported by the 144 hedge funds (but why?).
...oh, and the assets are really OUTSIDE of the bankruptcy (never mentioned by ANYONE (i.e., party in interest)) or in ANY COURT DOCUMENT "ever."
...finally, the big NEWEST enchilada (most recent recycled used to be JPM finally paying BOOK VALUE $24B in March of 2017 to use the Capital Losses as per the research study and unique understanding of the P&AA, it was guaranteed (didn't happen) along with the massive return of the $165B in MBS in the Deutsche Bank litigation as Trustee on behalf of the TRUST owners/investors dealing with the Settlement Agreement with the FDIC-R (note, nothing at all to do with WMI, WMIIC, WMILT, former shareholders)) of fantasies ~
Nope. By the 'books. Of the WMILT...
...of course.
...they are the ONLY source of accurate recovery information.
...WORD.
So, the 144 hedge fund that 'now own WMIH...
...which are different from the hedge funds that owned WMIH last year.
...and the year before.
...and the year before.
...and the year before.
...and the year before, after the Effective Date of the Plan Confirmation.
...were exactly the ones that owned "most of the P shares" of WMI at the Effective Date.
...so they owned the P's, converted, sold, bought, sold, bought, sold and bought again?
...huh?
...don't think so.
...when WMIH became public upon reorganization, please list the 144 funds 13F filings to support such.
...TIA.