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Is JPM using the 30B that they found in Wamu's dumpster to repurchase their own stock?
LOL... Do you know if the model has been trained in the desert?
LOL... falling like a rock... I think shorts will do just fine.
Really? You have no knowledge about their purposes. You're like an incoherent chatbot that's hallucinating, making things up just to shove your point. Totally unhinged.
Really lodas? Wow! I am completely without words if you actually believe what you're saying.
UBS to pay $1.4 billion over fraud in residential mortgage-backed securities
Swiss bank UBS agreed to pay a combined $1.4 billion in civil penalties over fraud and misconduct in its offering of residential mortgage-backed securities dating back to the global financial crisis, federal prosecutors announced Monday.
The bank, in its own statement Monday, described the settlement as dealing with a “legacy matter” dating from 2006 to 2007, leading up to the financial crisis.
The settlement concludes the final case brought by the U.S. Department of Justice against several of the largest financial institutions over misleading statements made to the purchasers of those mortgage-backed securities. The cumulative recoveries in the cases now total $36 billion, according to the Justice Department.
UBS’ settlement is nearly the same as the value of the residential mortgages it originated between 2005 and 2007, the year it stopped issuing residential mortgage-backed securities. UBS originated $1.5 billion in residential mortgages in those three years, the bank previously said in a 2018 statement challenging the Justice Department allegations.
“The vast majority of loans underlying the 40 RMBS listed in the complaint were originated by other financial institutions,” UBS said at the time.
In the years leading up to the financial crisis, investment banks packaged, securitized and sold bundles of mortgages to institutional buyers. Those securities were rated and graded according to quality, with various “tranches” of mortgages hypothetically safeguarding against the risk of complete default.
But unbeknownst to the buyers, those mortgages were not as high quality as their ratings suggested. UBS, similar to other banks who settled with the Justice Department, were aware that the mortgages underneath the mortgage-backed securities didn’t comply with underwriting standards.
UBS conducted “extensive” due diligence on the underlying loans before it created and sold the securities to its clients, prosecutors alleged, and despite knowing of the significant issues with the products, continued to sell them to financial success.
UBS had previously said that it had “fulfilled” its obligations to its clients, which the bank said were “highly sophisticated investors” and “some of the biggest financial institutions in the world.
The Justice Department has secured settlements with 18 other financial institutions over mortgage-backed security issues, including Bank of America, Citigroup, General Electric, Goldman Sachs, JPMorgan and Wells Fargo.
Credit Suisse, the defunct Swiss bank now owned by UBS, also settled with the Justice Department over misconduct related to MBS offerings.
https://www.cnbc.com/2023/08/14/ubs-to-pay-1point4-billion-for-fraud-in-mortgage-backed-securities.html
No kidding, as has Jay B. been dumping within the same range approximately, all planned in advance. Just incredible how these insiders profited while everyone else's holding the bag.
Barclays knows something as they've been on the mark for over a year, just simply look at the 1-year chart. They aren't going to let this puppy move too far from 42 (/12=3.5).
No question about it, though I don't believe for a second the COOP board & execs are clueless about what is really going on with the way the stock trades.
Looks like you are absolutely right on, BBOB; there're no other ways to explain the trading.
Please accept my condolences, John. Very sorry for your loss.
-shawn
Wonderful!!! Thanks for your effort all this time to get the price down to the point to finally close the gap.
Can't agree with you more on this one.
You almost got me with this one.
Has this stock ever moved in alignment with general market or analyst sentiments, or event corp. performance? The stock fluctuates substantially for "no", and I mean "NO", obvious reasons.
So you're basically saying newcomers are reaping all the benefits of NOL while sold-out legacy holders are left holding the bag? This doesn't really make any sense given how the stock has been manipulated.
BOB, if I remember correctly $3.74 was the highest that WMIH had reached post reorg and pre merger.
Thank you!
STRIKE, do you remember the context of argument that had the judge saying these words?
Not a bad idea, but then this board will be dying with a couple posts a day.
COOP share price really needs some help, can you give it a little pump instead of talking about escrows?
Thanks JWW. I guess the market isn't so smart, is it?
I got one a couple days ago, titled, "As a Chase credit card customer, you're invited to a free one-on-one investment consultation with a J.P. Morgan Private Client Advisor"
Towards the bottom...
IMPORTANT
1. Customers who work with an advisor generally have at least $50,000 in investable assets.
...
Well too bad I don't have that kind of $$$$$ sitting around.
Right, timing is interesting but let's not start relating it to any escrow theories, at least not until I've made my first payment to JPIG (o:)
It's from Mr. Cooper, my current servicer. My mortgage loan servicing has been passed around several times within the last 10 years and I've completely lost track of who actually owns the loan.
OT... got a notice today that my mortgage with Mr. Cooper will be transferred to JPM for servicing, starting 04/01. I know this really has nothing to do with escrows so please hold your fire.
"$COOPs where the money is. Always has been."
Totally agree.
As is the case with escrows, for those who own them of course.
This is great, but I'm kind of wondering why COOP's in the dumpster today with this very good news and markets were all up nicely.
Thanks!
LOL, and they might've used some highly sophisticated algorithm that calculated to the pennies.
Interesting... Yahoo shows 1Y Target Estimate for COOP 3,785.92
Previous Close 40.51
Open 40.60
Bid 40.83 x 800
Ask 40.86 x 1300
Day's Range 40.60 - 41.25
52 Week Range 28.64 - 45.27
Volume 260,274
Avg. Volume 802,617
Market Cap 3.073B
Beta (5Y Monthly) 1.57
PE Ratio (TTM) 2.55
EPS (TTM) 16.04
Earnings Date Feb 11, 2022
Forward Dividend & Yield N/A (N/A)
Ex-Dividend Date N/A
1y Target Est 3,785.92
Thanks Justice.
So what's the deal with COOP having been hanging around ~40 for the past 5 months?
No wonder...
It's all cool LG. Happy Thanksgiving to you, UPTICK, and everyone else.
LOL... No offense LG, but that was a good one. Thanks for the laugh UPTICK... You made my Thanksgiving morning.
Lucky #:
WMIH Corp. (WMIH)
NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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0.9999-0.0501 (-4.77%)
As of 1:39PM EDT. Market open.
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1D5D1M6MYTD1Y5YMaxFull screen
Previous Close 1.0500
Open 1.0500
Bid 0.9500 x 12900
Ask 1.0000 x 18300
Day's Range 0.95 - 1.10
52 Week Range 0.95 - 2.3800
Volume 1,576,495
Avg. Volume 417,870
Market Cap 199.98M
Beta -0.15
PE Ratio (TTM) 8.00
EPS (TTM) 0.12
Earnings Date N/A
Dividend & Yield N/A (N/A)
Ex-Dividend Date N/A
1y Target Est N/A
Trade prices are not sourced from all markets
Received this info from ET yesterday:
Thu Sep 28 06:31:02 2017
Fixed-Income Securities Update
Alert: As a service to our bond and fixed-income customers, we provide updates whenever certain material events affecting their holdings have occurred. We are writing to let you know the following:
CUSIP: 92936PAB6
Issue Name: Wmih Corp - 13% due 09/29/2017
Event: Market price change Up 5.3% from 95 to 100
Date: 09/27/2017 18:00:00
Thanks lodas... Would you consider this type of activities manipulation and illegal?