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POA extension would be to continue servicing of loans that not re-financed and paid off. Given the mortgage rates since 2009 the majority of RMBS and HELOC's should have been paid-off/refinanced. As a result, there is tens of billions of dollars sitting somewhere that belongs to WMI (escrow holders). The only question left at this point is when and how those funds will be returned to the rightful owners.
Whete did you get this HOM document? Acquired highlighted subs?
WTF who is dumping now!!
It doesn't take 8 years to get tax refunds. A&M isnt working on tax issues. I have no idea why they havent resolved these tax refunds. They must have other motives.
WMIH has been sitting on those tax refunds for over 6 years for a reason.
That's the job of the rating agencies but they were all on the take!!
That's is a lot of money even for JPM
LG what does that mean for Escrows.
If there are no assets coming back why hasn't the FDIC closed this out after 7 years. They should just call it a day and send everyone home.
Cura - what's the point of this hearing?
Jhon stop being such a whiner. I you can't afford to lose don't play.
33mm shares at the close total 232mm shares. Good volume!
Ines - that would be nice because I hold 52K Shares of ESC711 in my Etrade acct as well. Please post any updates. Thx.
Ines- sorry for the typo.
Ones exactly what does that all mean?? Thx
LG that's what I'm thinking one last shake
Talks stopped today and they file 8-k with details. It doesn't make sense to me. Give it a few days
Where did you get that info link please?
There won't be any options trading on this stock. People talking sbout it tanking on Monday are idiots!!
Bk what does that have to do with the billions of loans held by WMI? Nothing!! Get a grip!!
Post 416296 Actually it was a footnote in POR7 which states there is a possible to increase NOL's $3.6. I guarantee KKR makes that happen.
NOL's is really up to $9B if you read 10-K
Extra 2.2mm shares at close deal is on for sure!!
CPMK extra 1.1mm shares at close. Deal must be coming!!
CPMK sold almost 100mm shares last 3 months which is entire float. There is no stock left with impending news.
WMIH stuck $2.25 must be conversion price.
CPMK $6 now with $99 ask better get in now
Check out CPMK ask just went to $39.50 looks like buyout coming. Go WAMU!!
What is Thackery Bridge?? Thx
NOL per POR7 totals $9.1 vs. $5.5B
I got bored earlier today and decided to re-read the POR7 agreement wanting to review the NOLS and tax attributes.
A footnote at bottom of page 209 says NOL will be increased by $3.6 B to a total of $9.1
This takes into account a Stock Loss of approximately $5.5 billion, based on WMI’s current estimate of its adjusted tax basis in the stock of WMB. WMI’s adjusted tax basis, and thus the resulting Stock Loss and NOL prior to the potential application of section 382 of the IRC, may potentially increase by approximately $3.6 billion in the
event certain amounts provided for under the Global Settlement Agreement are respected for federal income tax purposes as capital contributions. The parties to the Global Settlement Agreement have generally agreed to treat all amounts paid, waived, allocated or transferred by WMI to WMB, the FDIC Receiver, FDIC Corporate or to JPMC as capital contributions from WMI to WMB, which amounts may be significant. Whether and the extent to which such amounts will be respected as capital contributions for federal income tax purposes, increasing stock basis and the Stock Loss, however, is uncertain.
http://www.kccllc.net/wamu/document/0812229111212000000000005
Washington Mutual 10-Q $23B in off-balance sheet assets. Link to 06/30/2008 10-q show Wamu had $23B in sub-prime loans off-balance sheets QSPE's (page 60). There is no way that these assets were part of WMB and had to be owned by WMI. What happened to these $23B in loans?
http://www.sec.gov/Archives/edgar/data/933136/000104746908009146/a2187197z10-q.htm
LG - JPM is shedding $100B in deposits. That has nothing to do with the $127B in off-balance sheet mortgage securities. I do think that those securities belong to WMI, but the issues are totally unrelated.
Please provide link or post to request from trustee on NOL's
Please post SOC 342.
Net Operating Loss and Net Present Value
NOL's are lost in a 363 asset sale. They would have been worth over $600MM to the right buyer which is why they should have sold before bankruptcy.
These aren't ECDC PR'a. They are articles written by various news agencies reporting about the system being implemented in the school systems. Huge difference!!
I read an article online in ref to this being implemented in GA schools. If you google it you can find it yourself .
California District To Test Student Location RFID System
By Dian Schaffhauser
05/21/13
An unnamed school district in Northern California will be testing a free system that communicates the location of students whose families have opted into the service. The district will run its test in June 2013 using StudentConnect, a service from East Coast Diversified (ECDC).
StudentConnect uses global positioning satellites (GPS) and radio frequency identification (RFID) to provide wireless communications to parents and schools regarding the status of students during their daily bus pickup and arrival at school and their school bus stop drop-off. Each child wears or carries an RFID tag, which is detected by an RFID reader on the bus when it's in range and transmits data to a GPS system. That system sends parents text alerts to their mobile phones.
The same system also communicates with classroom RFID readers to track student entry and exit, allowing parents and schools to view online where the student is located during a given period.
The system is free to schools and districts. Funding comes through local and corporate sponsorship dollars. Advertisers pay a fee for each message delivered to parents with a marketing message.
"ECDC's StudentConnect technology will allow us to safely and effectively track the pick up and drop off of our students," said the district's transportation director, in a prepared statement. "We have been waiting for this technology for a long time as it will help to solve the transportation crisis within our school district."
Read more at http://thejournal.com/articles/2013/05/21/california-district-to-test-student-location-rfid-system.aspx#BkKYIXCgdUgj1Izx.99