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Not sure this is ours but we could hear something about a Libor settlement next week.
Lets hope Judge Naomi comes through with justice for Wamu.
No prob Tau, glad to help. It's a little tricky to get to but it's all there in black and white. Our escrows are well documented.
The several hundred new millionaires group has not happened yet, and won't until we get our distributions.
Thanks Large, yes, JPM knows we will be wealthy and they want our business.
That's why any settlement is a win win for them. Not only do they also own WAMU escrows themselves, but they will get much of our banking business. I have several Chase accts and plan to remain there albeit with much fatter accts.
Appreciate you reposting this, because otherwise people would say I made it up again. LOL
Anyone else suddenly getting many credit card offers at 0% and also credit limit increases?
It seems like the banks might know who we are and may be expecting a payout. I've never seen so many great credit offers in my life and it's all been just in the last 2 weeks or so, despite credit card rates hovering at 30% now. Something's up and they want our business. Remember Dimon said there would be many new millionaires coming on board. Is it just me or is anyone else suddenly getting great cc offers with 0%
They seem to really want our business.
goodie, Schwab said the next batch of TDA clients would be transitioned over in the next year. Huge undertaking and no room for error, so accounts have to be checked and double checked. But all has gone smoothly so it looks like they are doing a good job with it.
Tau, Fidelity is a little more complex to find the escrows in your history. But I wanted to help you out because thats what the good guys here do. :)
So, go into All Accounts.
Account positions
Activity and orders
History
Select Past 30 days and click Custom
Put in the date range 01/01/2022 to 12/01/2022
You will see them listed like this:
Feb-11-2022
Rollover IRA ***
EXPIRED WMIH CORP SHS *EXPIRED POSITION* EXPIRATION WMIH CORP SHS *EXPIRED POSITION* (939ESC968) (Cash)
--
Feb-11-2022
Rollover IRA ***
EXPIRED WMIH CORP PFD *EXPIRED POSITION* WMIH CORP PFD *EXPIRED POSITION* (939ESC992) (Cash)
Each position will have them listed there. If you click on the little arrow to the far right it will show you how many escrows of each flavor you own.
So you see, our escrows are alive and well, just listed as expired at this point because they are deemed worthless, until there is a distribution. Then they will resurface into an active position.
john is correct. They still show in Schwab in the acct History as "worthless" because at this time they are, which they will not be for long!
It shows the amounts too. So these records are readily available when payments come. Make sure you keep your broker accounts updated.
02/11/2022 Journaled Shares
939ESC968
TDA TRAN - REMOVAL OF WORTHLESS SECURITIES (939ESC968)
02/11/2022 Journaled Shares
939ESC992
TDA TRAN - REMOVAL OF WORTHLESS SECURITIES (939ESC992)
Thanks john, will check again. I know that Schwab is an ongoing transition process.
If your broker doesnt have your escrows listed in your accounts' historical records, not to worry. The court has the official list, as does KCC, Computershare, the trust, etc.
Those records must be kept by law.
My markers are gone on Schwab, though they still show in Fidelity in my historical records section....
I still receive Libor notifications in the mail even though I did not hold bonds in that suit. So they know who and where we are.
What happened to BBanbob?
Bigbang, the ignore feature is awesome. I have blocked 8 and now the board is informative and congenial. A very nice place to be.
I encourage others to do likewise and put the boiler room boys out of business.
Judge Naomi is awesome. Moving methodically at lightning speed. Seems she is trying to wrap Libor up this year.
Lets see if she can get the big enchilada done and settled. I cant imagine JPM wants to drag this out till next year. They have the money set aside for the wrap up.
Next week will be interesting, and a good time to have this buried in the holiday news cycle.
Coattails
I've just been informed that some loser here that I have on ignore is posting to me.
These people are deranged. I suggest putting them all on ignore. This board is wonderful since putting them all on ignore.
Good luck to all COOP longs and escrowers. Lets hope this nightmare is coming to an end soon.
Ron, if I have time tomorrow I will chat with hold2 and bop to see what docs they are checking on now.
Hold2 has been amazing digging into them. Both are very confident so lets see what happens.
Naught, sorry I dont have a premium acct.
I have been inundated in the last couple weeks with amazing credit offers as well. Its strange. Bop said we would get many credit offers as we got close to settlement so that could be what we are seeing now.
All the banks and brokers will line up to do business with us. We will all have 850 credit scores and be debt free.
Lets hope this happens.
Also remember a couple yrs back when Jpm there would be many new millionaires coming to their bank soon.
This board is a cesspool of trolls. How did this decline happen?
For those who doubt the escrow list...
Contact KCC, Computershare, or Walrath. They will all tell you the escrow records are secure. The markers were for the LT. Meaningless now.
https://www.kccllc.net/
Get a life Plisskenblack
Tell that to Bonderman and Tepper.
LOL Escrows are alive and well.
We simply do not know for sure if when or how much.
I am buoyed knowing that the Susman firm is involved. That's no guarantee but it certainly is good news.
We just have to wait and see what happens. It's a corrupt world. I would say praying might be in order now.
I feel good about where this is headed but we just don't know. Let's hope justice prevails.
I believe something big is on the horizon for escrow payment in the next Libor hearing. I do not believe escrows will get paid this year, but a decision could be reached and a settlement will follow this year IMO. Because the WAMU case is the biggest of Libor it will take time to unravel payments. I expect we could be a few months away from payment. Billions don't get disbursed that quickly.
So, what COULD happen, as bop has said for months, is that a decision is reached in court and a settlement could be ready to go. Then the brokers will offer loans to escrow holders based on the decision and disbursement date. This is a way the big brokers can make money from the settlement immediately.
I may be wrong, but this could be the way this will now play out. Let's hope it's a green Christmas for escrowers.
This settlement is NOT us.
Ours is yet to come. This is OTC. Small case. The big one with the final 20 banks will come soon. Hold2wm on BP has followed this very closely and is certain this case is not ours. I agree. Relax.
Good point Ron.
I always felt that an ex or disgruntled employee could blow this case up for Jpm or Fdic. I also always had a hunch that bops source could work for Jpm. Remember she used to work for them so she has contacts there.
Thats why I dont think the hedgies did a back door deal. Way too risky and they are too smart to take that chance.
Coattails
Lucky, I did some checking.
The case discussed yesterday is NOT us. It is OTC. We may be next at bat so let's hope we hear something soon. SG is involved which is great! The FDIC gets a considerable cut so they will get as much as possible. If this isn't settled soon then it goes as far out as April for discovery.
b3 patently false.
"I filled out all the LIBOR claims, spoke with them several times on the phone, and they came back that "there is nothing substantial coming back" and told me my Libor Claim was worth ZERO."
That was for bonds! Had nothing to do with escrows. The disinformation here boggles the mind.
Lucky, thats why I have put so many on ignore.
Its makes for a beautiful board.. We can only guess why they do this.
The best thing is to put them on ignore. It makes the board much less stressful to read.
So, will escrows get paid?
Nothing is certain but death and taxes....unless you have political pull and dont pay your taxes!
I think the FDIC suit in Libor will bear fruit with Susman at the helm. That most likely will produce a payout for escrows.
Dont worry about the markers deletion. They know who we are. Keep your broker accts current.
After Libor is settled the big money can flow.
I recall back in 2009 or so, bop said this was the investment of a lifetime. I hope she was right. Time will tell, but many of us are growing old and weary now. Lets hope something happens soon despite the unbelievable corruption we are up against!
Lucky, thats why I have put so many on ignore.
Its makes for a beautiful board. I dont know what their motives are. Its bizarre that they spend so many hours on being anti escrow. Its very weird actually. Remember hotmeat? Omg he was on here many times a day every day bashing escrows. Suddenly he vanished. We can only guess why they do this. There could be a few reasons, or they could be getting paid to be trolls here.
Imagine what a good board we could have.
I dont mind if there are dissenting opinions. But to bash and mock and malign daily is really creepy.
The best thing is to put them on ignore. It makes the board much less stressful to read.
This is Steve Susmans legacy.
His colleagues will do all they can to achieve victory for WAMU escrow holders knowing Steve will be smiling down knowing a wrong was righted.
We will prevail. Thank you for all you did Steve. RIP.
The 85OO retailers hold 30% of the escrows, so the big boys have the vast majority. Also don't forget that JPM and its staff hold huge amounts of the escrows so in essence will be paying itself back when LIBOR is settled and the rest is released. The rich get richer as they say.
FDIC smells blood in the water. This is a slam dunk case and it wont settle for cheap. The longer the defendants hold out the more it will cost them.
Lucky, I have several on ignore so no doubt they are attacking me but things look good. Susman is a key bk settlement firm so thats why I am confident. Top notch.
Settlement could happen anytime now or in Q1.
We shall see. I feel we are finally close.
Susman may have been involved in others. Not sure. Bop would know. Someone should ask her that.
But he was The Wamu guy so most likely the firm is involved in this settlement for WMI and the hedgies. And us.
I was excited to see their involvement. Its a promising sign. I say this gets settled soon, but who knows?
That Susman link is all I needed to confirm WAMU/WMI is in this group's settlement. I doubt this takes much longer to settle.
2.5% coming to COOP from any settlements. Why is COOP going up in a bad mortgage environment? Servicing? Doubt it. They think money is coming from escrow payouts.
2.5% coming to COOP. Why is COOP going up in a crappy mortgage environment? Again, reading comp courses for the doubters.
Anyone who thinks FDIC will not get massive LIBOR money must be stupid. I agree with bop on this. Susman is looking out for us and the hedgies too. If you can't see this link you must need reading comp courses.
10. Pursuant to Rule 23(g) of the Federal Rules of Civil Procedure, and solely for settlement purposes, the following firms are designated as settlement class counsel ("Class Counsel") for the Class HAUSFELD LLP and SUSMAN GODFREY L.L.P. 11. Upon review of the record, the Court finds that the Class Notice constituted due adequate, and sufficient notice of the Settlement and was the best notice practicable under the circumstances and satisfied the requirements of Federal Rules of Civil Procedure 23(c)(2)(B) and 23(e)(1), due process, and any other applicable law.
Ron this is the smoking gun of settlement coming:
10. Pursuant to Rule 23(g) of the Federal Rules of Civil Procedure, and solely for settlement purposes, the following firms are designated as settlement class counsel ("Class Counsel") for the Class HAUSFELD LLP and SUSMAN GODFREY L.L.P. 11. Upon review of the record, the Court finds that the Class Notice constituted due adequate, and sufficient notice of the Settlement and was the best notice practicable under the circumstances and satisfied the requirements of Federal Rules of Civil Procedure 23(c)(2)(B) and 23(e)(1), due process, and any other applicable law.
Now, I am surprised nobody is seeing the significance of the Susman firm in this process. After all, they were the firm for the WAMU bk and escrow deal. Why oh why, is Susman now involved in this LIBOR settlement??? If it walks like a duck and squawks like a duck.....it's a friggin duck!
I expect a settlement will be announced soon. Good luck escrowers. To the rest of you: Too bad about you!
FDIC meeting tomorrow. Thanks Ron. We shall see. Libor close to wrapup time.