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Back in The Early Days of RMBS Derivative Insurance.
Later 1990’s to ~2008ish…
Housing was booming, therefore the derivative insurance covering the ABS Bonds was just free money for the underwriter. The underwriter’s wrote Trillions in contact’s
Just like insuring a good driver.
The LIBOR litigation is all about resolution of the OTC Derivatives contract’s, and the correction in LIBOR interest rates manipulation due to the insured parties.
Ron
Plus, The MBS Became Insured Bonds.
As required by the MBS Prospectus for the Trustee to maintain the insurance coverage.
The OTC Derivatives Market is the insurance provider for these Bonds.
JPM was exposed to between $700 Billion to $1.4 Trillion in OTC Derivatives covering the RMBS Market using the FDIC and US Treasury’s numbers.
The gubermint needed to rescue JPM.
FAST!!
JD; “give me WaMu”. WaMu had more than $40 Billion in cash on hand and a very strong revenue stream due to the insured ABS offerings WaMu reinvested in.
I use WaMu as a generic term actually referencing the Parent WMI.
How many people understand that WaMu was/is a Holding Company, holding multiple banks and other assets?!?
How big is the current Derivative Market in Notables?
I have posted last year’s numbers.
Beyond crazy market manipulation mechanism...!
Ron
Breach! You Know.
You to misspell, have less than the best grammar as all poster’s do.
FLOW, why try to be a antagonist when we are fighting for the same goal?
It’s about to greater message regarding WaMu assets.
Ron
Beach of Contact.
JPM broke the contract with WMI to review WMB’s books as to not buy WMB from anyone other than that WMI for 180 days.
JPM lost the Dual Track.
JPM demanded the release for the “Willful Misconduct” related to Project West.
JPM lost.
Ron
WMB-fsb Had $40 Billion Cash On Hand!
Before the JPM’s $16 Billion orchestrated ‘run-on-the-Bank’.
JPM was Totally Bankrupted with ~$7 Trillion in RMBS Derivatives exposure.
Covering 10% in RMBS could cost JPM $700 Billion.
At 20%, could cost JPM $1.4 Trillion.
JPM’s JD put a gun to the government’s head and said “give me WaMu”.
Just remember that JPM demanded to be released for “Willful Misconduct” in 41.6 that we signed.
We released in ‘Good Faith’.
JPM’s release is only constituted with the payment for “WMB and it’s Assets”.
WMI sued the FDIC for $307.2 Billion.
FDIC’s response; “$298.78 Billion for WMB and it’s assets” after the GSA settlement.
WMI won the Dual Track.
Time to end this history.
Ron
Please Post Your Link.
Link to the WMILT final QA that you referenced in your post and you will post the link needed to answer the question.
See QA #6.
I have posted the body of the QA.
The RE/DCR NOL’s for Equity.
Which has no association with the WMB stock abandonment for the Debtors reorganization into WMIH.
Ron
Please See Q&A #6. EOM.
Two Very Different Reasons for NOL Tax Attitudes.
• The WMB stock abandonment of around $24 Billion that can be exercised by the reorganized debtor WMIH, now COOP.
• The Retained Earnings/Disputed Claim Reserve from the February MOR listed at $20.78 Billion to be exercised by the Equity class holders, 75/25%.
Treasury Regulation 1.468B-9(c)(6), FAQ, Answer #6.
I’m confident that the HF attorneys and accountants know how to exercise their tax attitude's to utilize the RE/DCR NOL.
Please see my previous posts.
Ron
The Retained Earnings are The Source for the NOL’s.
All documented in the February MOR.
$20.78 Billion at 35%.
We retail don’t have the accountants and attorneys on our behalf so we could take advantage of the NOL.
Yes we are untitled to write-offs regarding your current earnings.
True. I don’t know how to exercise the NOL’s from the WMI Liquidation Trust Frequency Asked Questions #6.
I still insist that; Yes, JPM will pay for WMB and it’s Assets.
41.6 told us so.
Ron
The HF Are Taking the NOL Write-off Until the Money Comes Back.
“Treasury Regulation 1.468B-9(c)(6) provides that upon the termination of a Disputed Ownership Fund, the claimants to the fund’s net assets succeed to the funds unused net operating loss carryforwards. This regulation also provides that “if the fund's net assets are distributable to more than one claimant, the unused net operating loss carryover. . . must be allocated among the claimants in proportion to the value of the assets distributable to each claimant from the fund.” Pursuant to the Plan, the DCR was created and elected to be treated as a “Disputed Ownership Fund” pursuant to Treasury Regulation 1.468B-9(c)(2). On the basis of the foregoing, a beneficiary’s share of the unused net operating loss of the DCR is set forth in the Beneficiary Tax Reporting Letter Distributed by the Trust for the year ended December 31, 2020 . This amount was calculated by allocating the unused net operating loss of the DCR among the final claimants based on each claimant’s portion of the final cash distribution that was initiated in January 2020.”
Yes the FDIC/JPM will be paying for WMB and it’s Assets.
Ron
Also, Please Consider That;
Yes the ABS/MBS/RMBS are LIBOR based.
The Derivative contracts functioning as insurance policies covering all losses on the ABS/MBS/RMBS CERTS holders are also LIBOR based.
Yes a LIBOR litigation morass. JPM and the other big Banks needed time.
BUT, we win twice.
• Adjustments for losses on the front side.
• The resolution of the Derivatives contracts (OTC) what will free up the CERTS distributions to the harmed institutions.
?! How can a ‘insurance company’ satisfy claims when the insurance company doesn’t know what they need to pay!?
See the game!
WMI/WMB and the Others +Government Sponsored are the OTC Settlers.
I’m seeing a lot of OTC settlements on the LIBOR site.
I’m optimistic,
Ron
Yes The FDIC Had a Big Problem!
WMI, as a Holding Company (not a Bank Holding Company) owned the one share of WMB.
The Title follows the stock ownership.
The FDIC didn’t own WMB, therefore the FDIC as stuck and couldn’t process the Receivership through the Courts.
The Stock Abandonment of the WMB stock in the GSA solved the FDIC’s dilemma. The FDIC couldn’t litigant on WMB’s behalf without ownership of WMB Title (stock).
Hence; The FDIC’s LIBOR litigation on WMB behalf.
Ron
LP, Claw Back. Why?
Claw Back of what?
The FDIC’s operation is to Maximize.
Hence; LIBOR on WMB’s behalf.
The FDIC closes books through the completion of dividends to the Claimants so that the FDIC can close the Receivership.
WMB Notes are Covered Notes.
$26 Billion in securitization for ~$13-14 Billion in notes.
The Notes are Covered!!!
Please better explain the Claw Back discussion.
The Claw Back discussion is new information to me.
TIA,
Ron
Flow. I Don’t Understand Your Numbers.
We’re did the $45 Billion number come from???
The February MOR plus interest equates to +$25 Billion. Distributed 75/25%
UQ get just over $5 a share.
But UQ owns the property of WMI which includes WMB and it’s assets.
Cleveland Fed?!?
New stuff to me.
Not buying their numbers.
Need documentation.
The FDIC has already stated $299 for WMB and it’s assets.
WMI and I agree with the FDIC’s numbers!!!
Ron
Yes That is What I Have Proven.
Yes, Proven!
Series R;
The February MOR:
75% of $20.78 Billion.
Now with interest,
+$25 Billion
+2.5X
Documented!
Accumulation of Performance Payments;
+2.1X
I have repeatedly posted the links to prove Performance Payments
Add it up;
+4.6X for Series R.
Sorry Sidedraft.
I have posted this repeatedly and have had Zero response.
Yes I posted documents/links.
Ron
Please reread. I Have Made Updates.
The Receivership Works the Other Way!
The FDIC closes out all payments to the Claimants before they close the receivership.
Closing out the Books.
We get paid first before the FDIC closes the Receivership.
Legacy WMI common equity is the FDIC claim holder because the commons owns the parent corporation.
ND9’s FDIC receivership closure list is proof. When the FDIC closes the books and pays all Claimants, then they close the Receivership!!
The FDIC spell’s it out in direct wording.
FDIC LIBOR is resolving.
More money back to the WMI Estate.
Series R and K are LIBOR interest rate dependent.
More Money.
Series R; +4.6X.
Smile,
Ron
RICO, Project West.
The Discovery document proved JPM’s guilt. Our 41.6 “Willful Misconduct” release of JPM’s personal is JPM’s admission to the RICO charge.
Civil RICO can be rectified by a multiple of valuation.
41.6 is our proof.
Lo and friends; Didn’t submitted a release?
Not my problem!
Ron
Breech of Contract.
To view WMB’s books,
JPM was bound by Contract to not be able to buy WMB from anyone else but WMI for 180 days.
JPM lost the Dual Track in DC Court.
Ruled; JPM is to pay full book value for WMB and it’s Assets.
Both WMI and the FDIC have declared their numbers.
Their numbers, not mine!
Not directed at you Flow.
Don’t like their numbers?
Not my problem!
Ron
Who is MDL?
“MDL and OTC Plaintiff Action dockets”.
What does MDL stand for?
I know that OTC is about the LIBOR Derivative settlements.
TIA,
Ron
WMI Was NOT A Bank Holding Company.
WMI is a Holding Company.
This is significant!
WMB and WMBfsb were both owned by WMI.
The two banks were designed to cover the others losses based on the Corporate Structure.
WMBfsb was covering for the WMB losses as agreed to by the OTS.
WMB was NOT Regulated by the FDIC. But WMB bought and paid for FDIC insurance.
KKK; “WMB wasn’t clubby enough”.
WMBfsb had $40 Billion in cash on hand to support WMB, which was taking place.
No one seems to understand the Derivative Market Meltdown of 2008!
JPM was upside down Trillions.
“Willful Misconduct” is Our Proof.
Our 41.6 release of JPM personal for “Willful Misconduct” is our proof of payment.
“Willful Misconduct” is the ‘nice’ Civil legal term for RICO.
JPM’s demand for the “Willful Misconduct” release is proof that JPM will pay a multiple for “WMB and it’s Assets”. True that we don’t know the agreed to multiple.
If it wasn’t RICO, then why remand a “Willful Misconduct” release?
IMO, FDIC is establishing that number.
Reference point; “$299 Billion for WMB and it’s assets”
• WMB and it’s Assets
• Retained Earnings 75/25%
• WMIIC CERTS ownership.
• Preferred Funding
• Non-Debtor Subs
• Other Assets
Ron
BBOB, $362 Trillion in Derivative Notables.
Last year’s numbers.
I have posted the link and pushed the data to the MB.
No response!!
$362 Trillion is about five times the total World’s GDP.
That’s a lot of make believe money to manipulate markets.
The price of Oil has been dropping during time of war.
Ron
The FDIC is Telling Us.
We win.
Thanks to the FDIC on WMB’s behalf.
Thank You Johnnyiwantsome for the FDIC’s LIBOR litigation link a long time ago.
But now in current resolution mode.
Ron
No CWG. You’re Understanding of 3.01 Is Exactly Backwards.
WMI paid DB, and DB paid the investors as the Trustee, but Pulte and others are paying the FDIC on behalf of WMB to WMI’s Estate.
Read it again!!!!
Ron
Thank You FDIC.
WMI paid DB $3 Billion.
The California Case.
Now The FDIC sued Pulte for $3 Billion on WMB’s behalf.
WMI is going to get their money back.
Yes I’m laughing!!
Ron
MOTION to Approve Final Approval of Settlement with Defendants…
WMB is named!!
Settlements have/are taking place.
RESOLVE.
Thanks RD.
Very important post.
Ron
But Dividend Payments Can Commence at Anytime.
“FDIC has stated they cant close the receivership until all the cases are settled.”
Yes all litigation needs to be done, and all dividends distributions completed before the Receivership closes, but dividends can start at anytime now.
Other litigation is completed.
The completed litigation sets a precedence for other settlements.
Ron
The First Two Digits are the Year of Receivership.
True?
WMB would be 08xxx..?
The FDIC own documents;
“$299 Billion for WMB and it’s Assets “
The FDIC has never stated a number for liabilities other than the covered WMB notes.
Think about that?!
Our BK 41.6 Release for JPM personal for “Willful Misconduct”.
Reason; The FDIC and JPM lost the Dual Track in DC.
“Book Value for WMB and it’s Assets“.
As ruled!
The FDIC has reaffirmed the valuation for WMB proving what WMI sued the FDIC/JPM for.
WMI sued the FDIC for $307.5 Billion, $7.9 Billion came back. Numbers work!
DOCUMENTED!
Only stilly sorry about being totally RIGHT.
I like numbers because numbers like me.
Ron
The ABS/RMBS Derivative Contacts Are Being Resolved.
This is a great thing.
Yes I know that very few people even have a slight understanding of the Derivative Market. Don’t blame you.
Derivatives are just naked options.
And very NAKED.
Please let me say it again,
Key statement from the link I responded to; OTC.
Code word for CDS/CMO. The OTC is the exchange for the derivatives. Those same derivatives contracts insured our and fellow investors CERTS.
The Bad Bankers needed time to generate funds/money to pay their bills. LIBOR will only pay back a small amount, but cleans up the books.
The Bottom Line;
We have already been told the numbers.
I am totally confident in my presentation of the documented numbers.
As I have said ;
WMI; $307.2 Billion
$7.9 Billion returns.
The FDIC’s response, “$299 Billion for WMB and it’s Assets”.
The FDIC is adding value to WMB and it’s Assets as required by mandate.
The WMB deposit base moved to JPM.
Therefore the old WMB deposit base in 2015 is definitely not a liability on WMB’s books.
Yes, CWG lost again.
Some say that no big numbers coming back.
Sorry AZ but I have to call you out.
Your thesis doesn’t work.
Reason; The Preferred Funding only addresses Series R and doesn’t resolve Series K or TPS’s claim as you presented.
The Retained Earnings at 75/25% generously guaranteed full satisfaction of Class 19.
RE satisfies all of Class 19.
Series R Preferred Funding is all about Property Rights. Series K maybe?!?
The Performance Payments.
Just like CEF’s.
Know what you Own.
Ron
Yes JPM Settled.
The Proof;
41.6 “Willful Misconduct”.
JPM is admitting to the RICO charge by WMI and ANICO.
JPM will pay for “WMB and it’s assets” by paying the FDIC, then the FDIC pays us.
That is why the ANICO case against JPM was dismissed!
I’m very sure ANICO has tolling agreements to reopen the case if JPM fails to perform. Same for WMI Equity in relationship to 41.6.
JPM is only released in principle.
True release comes with “Paid in Full” by the FDIC.
As I have explained;
WMI sued the FDIC for $307.2 Billion, $7.9 Billion came back to the Estate. Then the FDIC responded with; $299 Billion for WMB and it’s Assets”.
Not my numbers. THEIR NUMBERS.
“Willful Misconduct” adds a multiple.
Judicial precedents. NOT IMO.
Ron
BBOb. Please Tell Us About The Derivative Market.
Please inform us regarding the derivative market relationship with the ABS/RMBS and trusts/CERTS back in 2008.
Please tell us about CDS/CMO’s relationship/responsibilities regarding the CERTS?
? Banker? You should know…
Something more than just your opinion would be beneficial, like real documentation!
Ron
BBOb You Have Never Understood The First-First Filing.
28-1 barred even the WMI BOD from seeing/reviewing the contents of WMIIC. Stu forbids everyone except himself, the Judge, and Rosen.
No 28 discussion.
That is exactly the point Nelson was making.
What are these assets that Stu is protecting that even the Examiner couldn’t review.
Stu, Examiner, Judge, JPM/FDIC, Rosen, HF’s, Nelson, and us all know that WMIIC is a monetary speakeasy for dividends.
That is why 28 was so protected.
ABS/RMBS accumulation of dividends.
Ron
The Point is Still Insured ABS/MBS/REIT.
Have not been compensated for the CERTS losses from the Derivatives insurance contract writers.
The securitizer has completed the put backs.
Ron
Did Someone Mention Securitization?
“Securitized by the Defacto Nationalized GSES”.
Securitized means that the Trust/package was turned into a bonds/notes to be sold into the market.
The bonds/notes prospects requires that the bonds/notes are insured.
The securitizer is responsible for the outback’s into the Trust for the failed loans, but the losses are to be compensated by the insurer.
Yes I’m driving home the point.
The Derivative Market’s insurance policies still have to cover for the losses of the “Credit Crisis”.
Example;
The FDIC sued the Big Banks regarding LIBOR Currency manipulation on WMB’s behalf and other ‘failed banks’. Case is ongoing.
F&F profits was also reduced due to the Big Banks LIBOR Currency manipulation.
Yes I can say more.
The Credit Crisis was all about the Derivative Contact Writers not being able to cover their contracts because they didn’t have the money.
Ron
From Your Presentation.
COOP is third in the Corporate structure.
IMO WWMI HOLDERS CORP holds all WMI’s legacy assets
COOP/NationStar will not be a beneficiary to WMI legacy assets.
That is why WMIHC was broken out separate.
Can a distributions agency treat equal recipients differently?
Not legally!
Ron
From Your Presentation.
COOP is third in the Corporate structure.
IMO WWMI HOLDERS CORP holds all WMI’s legacy assets
COOP will not be a beneficiary to WMI legacy assets.
Can a distributions agency treat recipients differently?
Not legally!
Ron
As Always. The Derivative Market is Never Discussed.
Same for F&F.
WaMu by example;….
Snippet from a BARB response to a question;
“The type of assets WaMu held. WaMu's assets included a significant number of subprime mortgages, which were difficult to sell in the aftermath of the financial crisis.”
Not really a true statement.
WaMu like F&F held a portion of the insured Bonds they ordered. 15% minimum of the offerings as required.
BARD and the MSM never discuss the fact that the ABS/RMBS CERTS/notes/bonds are insured as required by the notes prospectus.
Everyone fails to discuss the existence of the Derivative Market Meltdown as the insurer of the ABS/RMBS CERTS/notes/bonds couldn’t pay up.
The “Community Reinvestment Act” required the banks to make the loans to unqualified applicants.
Therefore the banks created the ABS/RMBS CERTS market by packaging the mortgage into a trust, then securitizing the trust into a insured bond.
Because the ABS notes were insured, through the Derivative Market CDS/CMO, the banks exposure to a default of the loans was basically zero.
The CDS/CMO writer of the derivative ‘insurance’ is the exposed notes to the losses.
The notes derivative insurance policies as options contracts are just naked calls. The writer is totally exposed to the downside of the market.
The derivative contracts writers then manipulated the LIBOR interest rate to reduce their losses.
WaMu’s Mortgage Portfolio exposure to losses was Zero because the portfolio was insured by Derivative Contracts to cover the losses. Just like F&F.
In 2008, JPM was the writer of 57% of the $83 Trillion in Derivatives notables.
What does BARD have to say to this.
What is the current number for Derivative Notables?
I posted last year’s numbers of $362 Trillion.
I asked the question on the COOP MB. No one responded!
What’s the point?
The Mortgage Portfolio’s were insured by option contracts.
Very little exposure for the Banks and F&F.
Ron
Life, Liberty, Property.
As Always. The Derivative Market is Never Discussed.
“The type of assets WaMu held. WaMu's assets included a significant number of subprime mortgages, which were difficult to sell in the aftermath of the financial crisis.”
Not really a true statement.
WaMu held a portion of the insured Bonds they ordered. 15% minimum of the offerings as required.
BARD and the MSM never discuss the fact that the ABS/RMBS CERTS/notes/bonds are insured as required by the notes prospectus.
Everyone fails to discuss the existence of the Derivative Market Meltdown as the insurer of the ABS/RMBS CERTS/notes/bonds couldn’t pay up.
The “Community Reinvestment Act” required the banks to make the loans to unqualified applicants.
Therefore the banks created the ABS/RMBS CERTS market by packaging the mortgage into a trust, then securitizing the trust into a insured bond.
Because the ABS notes were insured, through the Derivative Market CDS/CMO, the banks exposure to a default of the loans was basically zero.
The CDS/CMO writer of the derivative ‘insurance’ is the exposed notes to the losses.
The notes derivative insurance policies as options contracts are just naked calls. The writer is totally exposed to the downside of the market.
The derivative contracts writers then manipulated the LIBOR interest rate to reduce their losses.
WaMu’s Mortgage Portfolio exposure to losses was Zero because the portfolio was insured by Derivative Contracts to cover the losses.
In 2008, JPM was the writer of 57% of the $83 Trillion in Derivatives notables.
What does BARD have to say to this.
What is the current number for Derivative Notables?
I posted last year’s numbers of $362 Trillion.
No one responded!
What’s the point?
The Mortgage Portfolio’s were insured by option contracts.
Very little exposure for the Banks and also F&F.
Ron
Life, Liberty, Property.
-> AZ Is RIGHT <-
WMI HOLDINGS CORP is no longer the Registrant.
COOP is the current Registrant.
The WaMu Eclipse.
…