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Thanks ND9. Swaps are the ABS Insurance Contracts.
Please see RD post;
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169007539
Ron
“Mr.Folse mentioned $30B or more“. All True!
$33 Billion was the generic number used by the EC for the assets held in the WMI BK portfolio. Pay the Creditors and with other adjustments became $20.7 Billion.
That $20.7 Billion becomes the Retained Earnings, and after interest accumulation becomes $25 Billion distributed 75/25%.
The Plan 6 Liquidating Trust!
The Hidden Sausage is in Plan 6 LT.
Just reread your own last posts:
Plan 6 hid the Sausage for the surviving Class.
Plan 7 was just to pay Creditors. DONE!
Class 22 wins!
Yes I own Class 19,
Ron
Red is Just Creating Fiction.
Real simple;
The FDIC is not released yet. Therefore it is the FDIC’s to force payment from JPM for WMB.
JPM is Released with a “Willful Misconduct” obligation regarding the payment for WMB.
The FDIC relationship is still open!
No Dimples, I’m saying the Opposite!
The FDIC makes Dividend Distributions before the closure of the Receivership. Receivership is open so the opportunity for dividend payments can happen at anytime. Which includes;
Payment for WMB/WMBfsb and “Willful Misconduct” payment.
Release of ABS/MBS interest and performance premiums.
LIBOR/Globic is completed, therefore the FDIC should be making dividend payments to the WMB Note holders also.
Other distributions in my list are not dependent on the FDIC.
Ron
Relax Dimples. The Receivership is Not Closed for One.
The WMB valuation and WMI dividend payments will increase as ABS/RMBS Derivative Contracts starts covering the losses. The put-backs happened a long time ago.
Derivative Contracts LIBOR Currency manipulations by all the Big Banks is not closed yet. They are settling, better than jail or public embarrassment.
I still stand by my Five Sources of Revenue/Distributions for us.
Retained Earnings; When did the Plan 7 Conformation Hearings began?
According to the FDIC WMB Securitized $2 Trillion in RMBS.
Of which $500 Billion was sold to government agencies like F&F.
That is a lot of Derivative Contracts that needs to be resolved that insured these Bonds.
Plus a lot of ABS accumulation of back dividends and back/adjusted interest payments.
Yes RD. MBS Derivative Contract Insurance is Being Resolved.
LIBOR interest rates are a major factor in resolving these contracts.
The Derivative Contracts is the insurance to cover the losses.
$205 Million. Decimal point err.
$41,000 million * .005= $205 million.
.5% / 100%= .005
Lodas, You Came To the BK Party Late.
We are not required to educate you regarding your disinformation.
You post a bunch of Fiction and without links to support your Fiction.
Link time!
RE/DCR!
Posted many times.
Next;
WMB and it’s Assets. $299 Billion is the FDIC’s numbers, plus the OTC Numbers.
Receivership is Not Closed.
W-9; “Willful Misconduct” is satisfied with payment.
WMIIC; ABS investments sit on the books as a liability. No Assets but a boatload of Accumulation of past revenue.
:)
Need more?
I got more!
JPM should break well below $100 due to a big gap.
Hope they pay well.
Lodas. Where is Your Link to Support Your Fiction.
True; Links don’t support Fiction.
Got Link?
No Red! WMI sued the FDIC for WMB and it’s Assets.
The OTS states the same number for WMB and it’s assets.
The Deposit base of $189 Billion has nothing to do with the claimed assets of WMB. The Assets were generated from years of operations of the Deposit base.
The WMB Deposit base never became a liability because the Deposit base was transferred to JPM. The Deposit base became JPM’s liability with the seizure.
$299 Billion, plus Damages for WMB!
“Willful Misconduct” is the legal term for RICO.
Yes, And it’s Time for JPM to Satisfy the Insurance Claims.
LIBOR manipulation and All.
Remember, just over a year ago JPM had $500 Billion in cash.
WMB Was Seized Due to JPM’s Lack of Liquidity.
WMB Tier 1 rating was 7.8, whereas JPM was just 3.5.
WMB saved JPM!
WMI Sued The FDIC for WMB Valuation of $307.2 Billion.
WMI knows the true value of WMB.
The FDIC response; “$299 Billion for WMB and it’s assets”, after $7.9 Billion returns to the Estate.
The numbers work!
Now factor in “Willful Misconduct”.
No HLCE for you.
Me and my friends.
HLCE,
Ron
Red, That’s a Long Post for a Non Expert on the Details.
Please tell us about the Dual Track.
Waiting?!?.....
Yes We/You Win If You Submitted a W-9.
41.6 “Willful Misconduct”.
WMI sued the FDIC for $307.2 Billion for WMB.
All well documented.
I have posted more sources for distributions.
:)
Ron
So Was Bonderman”s Investment in WMI
An asset, or a liability?
His and other people’s money was at risk!
If an investor invested heavy in Dotcom's that investor quickly learned that the investments were liabilities.
****
ABS/MBS Securities’s Don’t sit on the banks books like a mortgage does. The ABS/MBS are insured Bonds. The insurance comes from the Derivative market.
WMB had $30 Billion in mortgages for put-backs into Trusts to cover non performing loans. The Derivative contract covered the losses
The generator of the Trusts needed to hold 15% of their offerings.
The meltdown in 2008 was JPM’s Derivative exposure as the insurance contracts writer. Bear-Sternes. Was a major holder of ABS backed by JPM Derivative contracts.
Most of these contracts are LIBOR interest rates based.
That’s why Lehman’s, F&F, and WMI are still pending resolution.
I could easily say more. Maybe later,
Ron
True WMIIC Had No Assets. Investments are Liabilities.
The invested money is exposed to market forces and can become a total loss. That’s why the investment is a liability!
If you carefully read all of the First, first filing....
Why was WMIIC so well protected by Landifeild?
No one could talk about the goodies in WMIIC.
That did WMIIC hold?
Were did WMIIC go?
What else happened in 2018?
Investments are liabilities until liquidation.
We have no record of the liquidation of WMIIC ‘assets’ for Plan 7 Creditors?
WMIIC books were never opened.
Ron
During An Eclipse a Body Goes Dark.
WMI Holdings Corp (Inc) went dark!
“WMI Holdings Corp (Inc) is no longer” the Registrant for the stock.
Please save your money. Plan 7 documentation was all about paying off the Creditors which it did! Done, completed!!!!!
The now Active WMI Non-Debtor Subs are not at COOP. Ex; WM Citation, H. S. Home Loan.
AAOC P6 “hide the Sausage” lives in WMI Holdings Corp (Inc) as a private company holding the Trust assets.
**
The Derivative market regarding the RMBS still needs to be fixed.
Things are hidden but still accounted for.
Ron
Sorry Distro, I don’t Have Numbers for Ks.
Are the Ks perpetual and non-accumulating?
I don’t remember.
75/25% is NOT Global! No $60K for Ps.
Retained Earnings of $20.7 Billion plus interest satisfies Class 19’s claims.
As I said, Ps also receive performance payments because Ps are Perpetual non-Accumulate. Hence, no back interest.
Back interest of $76 per year is less than the +2.1 Ps are due from Preferred Funding Accumulation.
I hold Ps also! I’m not happy about how long this is taken!!!
The Treasury Notes are due to be mature.
I Track the numbers,
Ron
Yes Bill48, JPM’s $1.9 Billion was Just an Administration Fee.
Me? I’m not a 75/25% to the end believer. It’s all about property rights. Class 22 proved to the Court that Class 19’s claim will be satisfied from the Retained Earnings placed in Treasury Notes. ~2.5X. Add another 2.1X for P’s for Preferred Funding performance. K’s matured in2018.
What’s in AAOC P6 LT managed by WK?
WMB Receivership Claim.
Non-Debtor Subs listed above.
WMIIC ABS/RMBS Distributions.
Other ABS/RMBS Distributions
Retained Earnings 75/25%.
Were did WMI Holdings Corp (Inc) go? 3 Wands.
++? 365 Sales of Leases! Was WMB leasing property from WMI? I say yes. See DS and footnotes for both WM Citation and H.S. Home Loan.
Ron
Winding-up of Which Liquidating Trust?
Plan 7 LT has nothing to do with the Equity Classes.
The goods live elsewhere.
Thank you AAOC, ;)
Ron
Split T, Let Me Answer Your Question in response to Xoom.
Plan 7 LT function and accounting is well documented as to its responsibility to the Creditors. P7 LT satisfies the Courts requirements to pay Creditors. P7 has fulfilled its purpose!
The Equity Community asked the Court permission to take control over the AAOC P6 LT as recored in the transcript. which was granted. I have posted the links and PDF pages. P6 did not require Court approval because the distributions stopped at AAOC’s and others Creditors claims.
AAOC P6 LT was created to protect assets and “hide the Sausage” from equity. Just like K-Mart did by minimizing assets values.
What’s in AAOC P6 LT managed by WK?
WMB Receivership Claim.
Non-Debtor Subs listed above.
WMIIC ABS/RMBS Distributions.
Other ABS/RMBS Distributions
Retained Earnings 75/25%.
Were did WMI Holdings Corp (Inc) go? 3 Wands.
++? 365 Sales of Leases! Was WMB leasing property from WMI? I say yes. See DS and footnotes for both WM Citation and H.S. Home Loan.
We win,
Ron
I Say A&M is Still Employed by the Plan 6 LT.
WK and CS Activation of the Non-Debtor Subs in Plan 6 as Trustees and administrators proves that Plan 6 is real. The Subs are not in Plan 7 and not at COOP!
Just for the fun of it; yes there was a Plan 5! Plan 5 was never submitted to the Court but agreements were made and binding just like in Plan 6!
Hint: the GSA. Then carried through to the other plans.
Ron
I’m Sticking to My Numbers and Distributions Sources.
My number for WMI Assets is $375 Billion.
WMB at $307 Billion.
WMB Notes are Covered Notes, $26B in assets for $13B in Notes. Subtract zero. Hence; no liability to WMI.
WMI had $8B in liabilities.
WMIIC holds investments, investments are performing liabilities and therefore off book. Further more the first ‘first’ was not open for discussion. Stu locked it down. WMI BOD was bared from looking.
WMI Claimed $33B in assets with their BK filing, of which paid the $8B Creditors claims and placed $20.7B in Treasury Notes from the 363 Sales.
Potential asset valuation of the Non-Debtor Subs;
$375-$307-$33 = $35B
The WMI Non-Debtor Subs that were placed in the Plan 6 LT by AAOC are now Active as of last year by WK and CS. DL is not listed in the activation documents. So leave DL alone!
Ron
This Tuesday is the One Year Anniversary of JD’s Great Brag of $500 Billion.
Yes I’m an optimist!
IMO JPM paid the FDIC shortly thereafter to reduce his interest rate increase. For this last year the FDIC has been responsible for paying the interest due for WMB.
WMB is just one of the five sources of withheld revenue and distributions due.
The ABS/RMBS Trusts were insured by Derivative contracts with interest rates based on US/LIBOR rates.
RB’s DTCC posts regarding Swaps can very easily be related as the 2008 Derivative Market Meltdown is finally resolved.
Ron
Yes Flow I Like It.
Yes that there is more going on then the Plan 7 LT for Creditors that’s now completed. Too much property not accounted for.
There is another dimension to the story.
Is WMI Liquidating Trust (WMI-LT) just a generic term for both Plan 6 LT that protected the property, and Plan 7 to pay off the Creditors in full.
Which Trust is being referred to when we read ‘the WMI-LT’ when it’s not specified as to which Trust? WK is the Trustee for both Plans.
Yes the Plan 6 Trust is real. The Equity Community proved it so as I have shown.
The WMI Non-Debtor Subs are now Active by WK and CS, and not by COOP employees. Which proves that the Subs are not at COOP.
I have specified five sources of revenue and distributions.
Ron
AZ, You Use the Term, “WMI Subsidiary Network”.
Are you referencing the WMI Non-Debtor Subs like WM Citation and H. S. Home Loan and the other subs that are now reactivated?
Ron
Again Thanks ND9.
I love this statement;
“The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.”
Our dividend distributions are due from the Receivership before the Termination is closed.
Ron
Flow, Don’t Waste Your Time on Plan 7 LT.
Retained Earnings and WMI Non-Debtor Subs have nothing to do with the Plan 7 LT, and also have nothing to do with the FDIC or JPM.
Kosturos and Smith reactivated the Subs last year, so that means both are still around running the businesses. The Subs were deactivated in Plan 6, and Plan 7 didn’t change the status. Kosturos as a successful restructuring agent can do some creative things with those Subs.
Retained Earnings are in Treasury Notes. Ten Year Notes should be maturing anytime now.
Please see the post that I responded to.
Ron
What about KOSTUROS ?
Is KOSTUROS responding to emails or phone calls?
I think KOSTUROS is the one making the decisions as the Trustee.
Plan 6 Liquidating Trust did happen. I have presented the documents. Because during Plan 6 AAOC was the impaired class no Court approval was required for the Plan 6 LT. Then the Equity Committee took control and we move on to Plan 7.
The assets/money protected in Plan 6 LT belongs to Class 22.
Plan 7 LT was only about the Creditors.
Proof;
WMI Non-Debtor Subs!
Yes one of these days we are going to wake up to Money. We have no evidence that someone ran off with our money/assets.
Yes I understand that Plan 6 LT is difficult to understand, but that is what AAOC did. AAOC placed the assets in a Trust in Plan 6. EC took control over the assets/money in that Trust.
COOP has only satisfied Ps to ~$72 per share. COOP needs to go to $606.06 to see face. The Court would’ve never approved of the Plan to give Class 22 the Estate that couldn’t prove Class 22 couldn’t satisfy Class 19 claim.
Class 19s claim has not been satisfied!
Hence; Retained Earnings.
I Still Stand By My Posts.
The List of Five sources of revenue/distributions.
All well documented and posted.
No need to post more.
Read.
Hint; JPM lost,
Ron
Thank You Newflow for the Posting.
No way to calculate post BK revenue due Class 22.
I described the FN for the two primary Subs from the DS.
COOP can buy assets and on going revenue stream.
:)
What Could The WMI Non-Debtor Subs be Worth?
$375-$307-$33 = $34 Billion unaccounted for.
Retained Earnings is imbedded in the $33 Billion.
Please tell me more about the non-Debtor Subs.
WMIIC was all investments, and therefore all liabilities and not ‘assets’.
Investments are liabilities and not assets.
Yes WMIIC did not have any assets.
I recently read the Anchor litigation testimony between Golding vs Steinberg. Golding said WMIIC had no assets. WMIIC filed first before WMI did. Think about that. What was protected in the first filing?
Yes investments are liabilities until sold.
Thanks Newflow; The WMI Non-Debtor Subs are Not at COOP.
But also true is that the Subs not part of Plan 7 Liquidating Trust. Plan 7 LT only had enough money to pay Creditors.
That’s not the Trust you’re looking for!
“Pursuant to Section 1.140 of the Seventh Amended Plan, WMI’s Equity Interest in all of its subsidiaries, except for WMI Investment, WMMRC and WMB, will be transferred to the Liquidating Trust.”
Yes the Subs will be transferred to the Liquidating Trust.
The Plan 6 Liquidating Trusts for Equity Classes as agreed to in Plan 7.
And the Subs have become Active last year. It took filings fees and man hours/legal fees to make these Subs Active.
WM Citation main function was ‘Leases’. Did WMB lease the property from its parent, WMI? I say Yes.
DS footnote; ~”JPM will pay WMI for WMB notes. Same FN for H. S. Home Loan.
Hint; 365 Sales deal with Leases.
Any more news regarding these Non-Debtor Subs?
WK and CS, where are you?
TIA,
Ron
LP, Retained Earnings and Non-Debtor Subs Have Nothing to do With FDIC.
RMBS are under the control of the FDIC. Therefore bankruptcy remote RMBS assets are under the FDIC control.
Remember Hockberg?
Has WMIIC assets every been valued? No!
Ron