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Conference Call Webcast and Investor Presentation
The Company will host a conference call on February 11, 2022 at 10:00 A.M. Eastern Time. Preregistration for the call is now
available in the Investor section of www.mrcoopergroup.com. Participants will receive a toll-free dial-in number and a unique
registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under
the investors section on www.mrcoopergroup.com. A telephonic replay will also be available approximately two hours after the
conclusion of the conference call by dialing 855-859-2056 (toll-free), or 404-537-3406 (international). Please use the passcode
7271516 to access the replay.
navycmdr, Thanks for posting the below info: As they are looking for Public input on FHFA it would be great if many write letters and complain about how FHFA has hijacked the GSE's. We should all try to send letter.
BigBang, the 1099's from E*TRADE are not available till Feb. 15, I usually just download them into Turbo Tax. I used to keep records of every buy and sell now I just let the Brokerage firms do it and I review if I see anything unusual.
WAMUSHAMU - yes I understand a forward split does not change the value of the stock but the pps may be getting adjusted to where they want it to be to realign the outstanding share count.
AZ may have a better read on where the stock count needs to get realigned to. We had about 79 million outstanding, but I think we may be closer to 75 million. This most likely will get realigned for use of NOL, so it could take about 3:1 forward split - is that close AZ?
Note: Some investors will look at any F/S as dilution - especially those Option plays that don't own the stock, and if they feel / know of possible F/S they will need to adjust their play book.
That may have been for the Jan PUT options as I did see a increase in $40
PUT Strick price,
BUT PUT option could be an optimistic play where one is Selling PUTS for the high premium they pay and use them to buy to cover short position collecting the high premium - the system is rigged in their favor.
Any thoughts on this drop in pps last few days? Is pps getting adjusted to a planned level for Forward split - any thoughts on this?
We still have about 9 days till end of 2021 earnings which should be positive and also waiting for annual 10-K which could be very reviling on structure and subs of company. Looking at the top managers most have had recent sales - do they know something? - yes! but What?
It could be just more MM manipulation taking the pps down to cover their short position.
Greedy, I have played options for many years and used to do what you just did buy OTM Call options and loss it almost every time.
I feel a better gamble would be sell the March 18th PUT today you would collect .51 per share now into your account. The gamble is if it is going above $1.50 by March which you believe you would keep that .51 per share you collected, and it would expire.
Now the downside is you need to have the money in your account to buy that $1.50 PUT option but if you are optimistic in IDEX moving up - if on expiration date the pps is below $1.50 you are assigned IDEX or forced to buy it at $1.50 but you already collected .51 so your cost is .99 per share.
I mostly Sell option to collect $$ now and play with ITM or OTM Strick prices.
This is court link, and it should work for playback.
https://5thcircuit.streamguys1.com/enbanc
AZCowboy, yes, COOP 2021 10K report should be interesting. Last few years it has been released around Feb. 23 so I also expect it sometime in 3rd week of Feb. 2022.
This lines up to have the game plan spelled out and distribution IMO early March 2022 and Charles Edward Smith and Doreen Logan served as the Trust’s administrators have managed the winding-down the Trust’s operations and its dissolution AND the administrators expect to complete a full-winding down of the entity on or prior to March 31, 2022.
AZ, do you feel the administrators could be using this 65 day ruling and we could still get distribution that will be a 2021 Tax event?
IMO the first couple weeks of March will be a life changing event for many that held their Escrow shares all these years.
JB3136, I feel the assets that we are waiting for is not under any control of FDIC and will have no effect if the FDIC does not close before end of March. It is still possible we may get some distribution from LIBOR claims from FDIC
http://www.wmitrust.com/WMITrust
Charles Edward Smith and Doreen Logan served as the Trust’s administrators and have managed the winding-down the Trust’s operations and its dissolution. In December 2021, the administrators filed a Certificate of Cancellation with the Delaware Secretary of State’s Office pursuant to which the Trust was canceled effective as at December 31, 2021. After giving effect to the foregoing, the Trust no longer has any active operations and the administrators expect to complete a full-winding down of the entity on or prior to March 31, 2022.[/
Their update was Carefully word: BUT IMO THE TRUST NEVER HAD OR MANAGED ANY OF THE ASSETS THAT US ESTATE ESCROW HOLDERS HAVE BEEN WAITING FOR. WE KNOW THAT THE RETIANED EARNERS WHERE NEVER MANAGED BY THE TRUST AND I STILL EXPECT A DISTRIBUTION BEFORE END OF MARCH AND ONE THAT WAS UNDER THE 65 DAY RULE AND WILL BE CONSIDERED A 2021 TAX EVENT. JUST MY OPIONION
The Trust has not at any time engaged in, and will not at any time engage in, the conduct of any trade or business other than the liquidation and distribution of the Liquidating Trust Assets.
Nightdaytrader / Royal Dude,
My take on this Paladin Acquisitions Company LLC it is a Corporation that now only needs an office to operate out of so current Principal Place of Business is not important. What is important is the names associated like Charles Smith, that it is designed as an Acquisition Company and it is an offering open to large money Hedge funds and most likely a Sub of WMIH-C
I also like it is designed as = Pooled Investment Fund & Other Investment Fund. IMO it will operate similar to WMII and will hold assets of WMI Estate for benefit of Escrow holders. I also like how they declined to disclose the Aggregate Net Asset Value Range.
JMHO
Itsmyoption
RE: Tax Tip: Fiduciaries Have an Extra 65 Days for Discretionary Distributions
my read on this link below is we still may get a W2 income form that shows income for 2021 but they have extra 65 days to distribute this income distribution. Is this what others believe?
https://news.bloombergtax.com/tax-insights-and-commentary/tax-tip-fiduciaries-have-an-extra-65-days-for-discretionary-distributions
Interesting find Newflow: Looks to me as a remerge of a direct subsidiary Of WMI – look at the link below for list of subs.
ACD4 - Interesting Address ATTN:
https://opencorporates.com/companies/us_ca/C1868511
Company Addresses
MAILING ADDRESS
1301 2ND AVE, WMC 1410, ATTN: DOREEN LOGAN, SEATTLE, WA, 98101
2021-02-12 - 2021-05-20
Addition of officer WILLIAM KOSTUROS, chief executive officer
VICTORY OVER CHASE: Washington Mutual, Inc. Direct and Indirect Subsidiaries Prior to Sept. 25, 2009
List of the subs Prior to Sept. 25, 2009
Washington Mutual, Inc. Direct and Indirect Subsidiaries Prior to Sept. 25, 2009
WASHINGTON MUTUAL, INC. DIRECT AND INDIRECT SUBSIDIARIES
Prior to Seizure of Sept. 25, 2009
110 East 42nd Operating Company, Inc.
620-622 Pellhamdale Avenue Owners Corporation
Accord Realty Management Corporation
ACD2
ACD3
ACD4
Ahmanson Developments, Inc.
Ahmanson GGC LLC
Ahmanson Insurance, Inc.
Ahmanson Land Company
Ahmanson Marketing, Inc.
Ahmanson Obligation Company
Ahmanson Residential 2
Ahmanson Residential Development
Bryant Financial Corporation
California Reconveyance Company
CCB Capital Trust IV
CCB Capital Trust IX
CCB Capital Trust V
CCB Capital Trust VI
CCB Capital Trust VII
CCB Capital Trust VIII
Clayton Blackbear, Inc.
Commercial Loan Partners L.P.
CRP Properties, Inc.
Dime Capital Partners, Inc.
Dime Commercial Corp.
Dime CRE, Inc.
Dime Mortgage of New Jersey, Inc.
ECP Properties, Inc.
The E-F Battery Accord Corporation
F.C. LTD.
FA California Aircraft Holding Corporation
FA Out-of-State Holdings, Inc.
Flower Street Corporation
Great Western FS Corporation
Great Western Service Corporation Two
H.F. Ahmanson & Company
H.S. Loan Corporation
Harmony Agency, Inc.
HCP Properties Holdings, Inc.
HCP Properties, Inc.
HFC Capital Trust I
HHP Investment, LLC
HMP Properties, Inc.
Home Crest Insurance Services, Inc.
HS Loan Partners LLC
Irvine Corporate Center, Inc.
Ladue Service Corporation
Long Beach Securities Corp.
Marion Insurance Company, Inc.
Marion Street, Inc.
Mid Country Inc.
Murphy Favre Housing Managers, Inc.
Murphy Favre Properties, Inc.
NAMCO Securities Corp.
Nickel Purchasing Company, Inc.
Norstar Mortgage Corp.
North Properties, Inc.
Pacific Centre Associates LLC
Pacoima Investment Fund LLC
PCA Asset Holdings LLC
Pike Street Holdings, Inc.
Plainview Inn, Inc.
Providian Bancorp Services
Providian Leasing Corporation
Providian Mauritius Investments LTD
Providian Services Corporation
Providian Services LLC
Providian Technology Services Private Limited
Reverse Exchange Corporation
Rivergrade Investment Corp.
Riverpoint Associates
Robena Feedstock LLC
Robena LLC
Savings of America, Inc.
Seafair Securities Holdings Corp.
Second and Union LLC
Seneca Funding (UK) Limited
Seneca Funding LLC
Seneca Funding Management LLC
Seneca Funding Trust
Seneca Holdings, Inc.
Seneca Newco LLC
Seneca Street, Inc.
Sivage Financial Services LLC
Snohomish Asset Holdings LLC
SoundBay Leasing LLC
Stockton Plaza, Incorporated
Strand Capital LLC
Sutter Bay Associates LLC
Sutter Bay Corporation
Thackeray Funding Corp.
Thackeray Funding Partners
Thackeray Holdings Corp.
University Street, Inc.
WaMu 1031 Exchange
WaMu Asset Acceptance Corp.
WaMu Capital Corp.
WaMu Insurance Services, Inc.
WaMu Investments, Inc.
Washington Mutual Asset Securities Corp.
Washington Mutual Bank
Washington Mutual Bank fsb
Washington Mutual Brokerage Holdings, Inc.
Washington Mutual Capital Trust 2001
Washington Mutual Community Development, Inc.
Washington Mutual Finance Group LLC
Washington Mutual Life Insurance Company of California, a Stock
Insurer
Washington Mutual Mortgage Securities Corp.
Washington Mutual Preferred Funding LLC
Washington Mutual Trade Service Limited
Washington Mutual-Seattle Art Museum Project Owners Association
Western Service Co.
WM Aircraft Holdings LLC
WM Asset Holdings Corp.
WM Citation Holdings, LLC
WM Enterprises & Holdings, Inc.
WM Funds Disbursements, Inc.
WM Marion Holdings LLC
WM Mortgage Reinsurance Company, Inc.
WM Specialty Mortgage LLC
WM Winslow Funding LLC
WMB St. Helens LLC
WMBFA Insurance Agency, Inc.
WMFS Insurance Services, Inc.
WMGW Delaware Holdings LLC
WMHFA Delaware Holdings LLC
WMI Investment Corp.
WMI Rainier LLC
WMICC Delaware Holdings LLC
WMRP Delaware Holdings LLC
Yellowstone Venture, Inc.
I show the same 6.4 million shares traded and of those over 5 million after hour - so good news coming soon! IMO
coop GOT VARY ACTIVE END OF DAY WITH OVER 3 MILLION SHARES TRADED AFTER HOUR NOW SHOW 4.7 MILLION SO A BIG DAY!
AZ, so you do not expect distribution for your WMI Notes until Jan. 15th?
IMO - I do not feel that scheduled distribution has any effect on possible DTC distribution before end of year. You agree?
BBANBOB, I do not have private message but to your question yes you can.
After looking at those claims or assets transferred I could not find those specific claims - 700065.01, 700065.02, 710052.01, 710052.02
It looks like those were removed so hard to tell how much in assets those claims held so it may not be a big deal but does show assets are being transferred which is great.
bond-007, I agree it is not valued in $1,000 but it is a claim assigned to
Nationstar Mortgage LLC,
If you look for creditor claims in Lehman Brother Chapter 11 and put in Nationstar Mortgage LLC,
You get pages of claims from Nationstar Mortgage LLC, really add up to $$$$
https://dm.epiq11.com/case/lbh/claims
INTERESTING TRANSFER OF ASSETS DATED 11/29/21
EVIDENCE OF TRANSFER U.S. Bank National Association, not individually but solely as trustee of the Trust (as defined below), its successors and assigns (collectively, “Assignor”), has hereby absolutely and unconditionally sold, conveyed, transferred, and assigned to Nationstar Mortgage LLC, its successors and assigns (collectively, “Assignee”), its claims relating to Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2004-3
NYSB 08-13555 61365 - Transfer Agreement FRBP Notice of Omnibus Transfer of Cl.pdf
I gave you the link open it.
https://ih.advfn.com/stock-market/USOTC/federal-home-loan-mortgage-qb-FMCC/trades
we hit the bottom at 1.48 time to buy and buy volume is coming back.
Volume what is form T as there was a lot at same time 8 million each
https://ih.advfn.com/stock-market/USOTC/federal-home-loan-mortgage-qb-FMCC/trades
Form T is an electronic form that FINRA requires brokers to use for reporting equity trades executed outside of normal market hours. Form T trades occur during extended hours — before the market opens and after it closes. The objective of the Form T report is to maintain market transparency and integrity.
Volume what is form T as there was a lot at same time 8 million each
https://ih.advfn.com/stock-market/USOTC/federal-home-loan-mortgage-qb-FMCC/trades
Form T is an electronic form that FINRA requires brokers to use for reporting equity trades executed outside of normal market hours. Form T trades occur during extended hours — before the market opens and after it closes. The objective of the Form T report is to maintain market transparency and integrity.
If the EC TAB members still exist – who is paying them? Not the WMI-LT as they gave their last funds to BR favorite charity. And When is LINKEDIN A GOOD SOUCE FOR UP-TO-DATE INFO?
If the TAB members where still getting their 10K payments - where are the quarterly reports for them. IMO, THE WMI-LT IS LONG GONE BUT ANY ESCROW FUNDS ARE UNDER MANAGMENT FROM MR. SMITH, DOREEN, ALONG WITH B. KOSTUROS AND ALVARES AND MARSAL.
OUR MONEY IS SETTING AT DTC WAITING FOR SEND NOW COMMAND – BEFORE END OF YEAR – IMO.
from Etrade : DIGERATI TECHNOLOGIES, INC. has released a new communication to its
shareholders. You can view and print this communication electronically through the link below.
Information Statement
https://materials.proxyvote.com/Approved/25375L/20211018/INFST_484957.PDF
planning a R/S with name change.
DIGERATI TECHNOLOGIES, INC.
825 W. BITTERS, SUITE 104
SAN ANTONIO, TEXAS 78216
(210) 614-7240
NOTICE OF ACTION BY WRITTEN CONSENT OF HOLDERS OF
NOT LESS THAN A MAJORITY OF THE AGGREGATE VOTING POWER
OF ALL OUTSTANDING SHARES OF CAPITAL STOCK OF DIGERATI TECHNOLOGIES, INC.
WE ARE NOT ASKING YOU FOR A PROXY AND
YOU ARE REQUESTED NOT TO SEND US A PROXY
Dear Digerati Technologies, Inc. Stockholder:
This Information Statement is being made available to the holders of record (the “Stockholders”) of the outstanding
shares of: (i) common stock, $0.001 per value per share (the “Common Stock”); (ii) Series A Convertible Preferred
Stock, $0.001 par value per share (the “Series A Preferred Stock”); (iii) Series B Convertible Preferred Stock, $0.001
par value per share (the “Series B Preferred Stock”); (iv) Series C Convertible Preferred Stock, $0.001 par value per
share (the “Series C Preferred Stock”); and (v) Series F Super Voting Preferred Stock, $0.001 par value per share
(the “Series F Super Voting Preferred Stock”) of Digerati Technologies, Inc., a Nevada corporation (the “Company”),
as of the close of business on October 18, 2021 (the “Record Date”), pursuant to Rule 14c-2 promulgated under the
Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Board of Directors (the “Board”) is not
soliciting your proxy and you are requested not to send us a proxy. The purpose of this Information Statement is to
notify you that on October 29, 2021, the Company received written consent in lieu of a meeting of Stockholders (the
“Written Consent”) from holders of shares of voting securities representing approximately 61% of the total issued
and outstanding shares of voting securities of the Company (the “Majority Stockholders”) to approve the following:
• the granting of discretionary authority to the Board, at any time or times for a period of 12 months after
the date of the Written Consent, to adopt an amendment to the Company’s Articles of Incorporation, as
amended (the “Articles of Incorporation”), to effect a reverse stock split at a ratio in a range of from 1 for
5 and up to 1 for 80, such ratio to be determined by the Board, or to determine not to proceed with the
reverse stock split (the “Reverse Stock Split”).
• the granting of discretionary authority to the Board, at any time or times for a period of 12 months after
the date of the Written Consent, to adopt an amendment to the Articles of Incorporation, to change the
name of the Company to “Nexogy, Inc.”, or to determine not to proceed with the name change (the “Name
Change”).
The Reverse Stock Split and the Name Change (collectively, the “Actions”) are more fully described in the accompanying
Information Statement. The Written Consent was in accordance with the Nevada Revised Statutes (the “NRS”) and
Bylaws, which provides that any action required or permitted to be taken at a meeting of the stockholders may be
taken without a meeting if, before or after the action, a written consent thereto is signed by stockholders holding at
least a majority of the voting power, except that if a different proportion of voting power is required for such an action
at a meeting, then that proportion of written consents is required. The accompanying Information Statement is being
furnished to all of our stockholders in accordance with Section 14C of the Exchange Act, and the rules promulgated
by the U.S. Securities and Exchange Commission (the “SEC”) thereunder, solely for the purpose of informing our
Stockholders of the action taken by the Written Consent before it becomes effective.
THE REVERSE STOCK SPLIT AND NAME CHANGE HAVE NOT BEEN APPROVED OR DISAPPROVED BY
THE SEC, NOR HAS THE SEC PASSED UPON THE FAIRNESS OR MERIT OF THE REVERSE STOCK SPLIT
OR NAME CHANGE NOR UPON THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED
IN THIS INFORMATION STATEMENT. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.
No additional action will be undertaken by us with respect to the receipt of written consents, and no dissenters’ rights
with respect to the receipt of the written consents are afforded to Stockholders as a result of the approval of the Actions.
Pursuant to Rule 14c-2 promulgated under the Exchange Act, the earliest date that the Reverse Stock Split and Name
Change can become effective is twenty (20) calendar days after this Information Statement is first sent or given
to the Stockholders. Notwithstanding the foregoing, we must notify the Financial Industry Regulatory Authority of
the Reverse Stock Split and Name Change by filing the Issuer Company Related Action Notification Form no later
than ten (10) days prior to the anticipated effective date of the Reverse Stock Split and Name Change. In addition,
the Reverse Stock Split and the Name Change will not become effective until we file an amendment to the Articles
of Incorporation with the Secretary of State of the State of Nevada after the twenty (20) calendar day period has
elapsed. A form of the amendment with regard to the Reverse Stock Split is attached to this Information Statement
as Annex A. A form of the amendment with regard to the Name Change is attached to this Information Statement as
Annex B.
This is not a notice of a special meeting of stockholders and no stockholder meeting will be held to consider any matter
which is described herein.
THE ACCOMPANYING INFORMATION STATEMENT IS BEING MAILED TO STOCKHOLDERS ON OR
ABOUT NOVEMBER 4, 2021. WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED
NOT TO SEND US A PROXY.
By Order of the Board of Directors
/s/ Arthur L. Smith
Arthur L. Smith
November 2, 2021 Chief Executive Officer and Director
AZCowboy, thanks for all you DD, but a few questions?
- Re: A Requirement Aligned With The "Release of the Use" Of The Capital Trusts "Debentures" How would a forward split play into that?
- Example if the BOD’s approve a 12:1 forward split than any pps above $4.17 would be above the #50 pps pre F/S. I do see the big players with all their inside info running the pps up $50 or higher to help in split as it would give more outstanding shares after split.
- We currently have 75 million outstanding. Do you have a handle on how many shares the BOD’s would need after split to realign COOP to have full use of NOL’s? Even a 12:1 forward split would only get our outstanding shares up to 900 million – is that enough or do we need to get to 1.2 billion outstanding?
I do feel strong that we will see many thing taking place BEFORE END OF 2021 as the big plays want the tax event in 2021 as taxes are going up for them next year. Hope it is before Christmas as I got some big gifts to give out$$$
Royal Dude, I do not have use of private mail and to your point stated below.
BigBang, we have all endured this lengthy delay to see what our escrows are worth. Know one can predict the exact date we could see it, and I do not expect any notice before.
I do feel what escrow has coming is the Retain Earning which is interest payments from mortgages WMI owned and have collect over 13 plus years. How much is anyone's guess but I expect it should be in the 15-24 billion range which should make all escrow happy.
I do expect preferred "P" & "K" will get par - plus. I do not expect the 100 plus billion many feel is coming.
Like AZ did I also bought A-LOT of COOP below $10.00 and have only traded using selling to open PUT and sell covered call Option. I also have a ton of escrow all types so will be happy when there is a payment which for many reasons should be before end of year. This will be a 2021 TAX event for escrow holders! I also feel escrow could receive a distribution for many years based on the run-off of remaining ABS / MBS being serviced that WMI had a ownership in.
Large Green, with a all due respect I’m not sure it is important if WMILT is still not closed or is closed is so important that you need to write about it every day.
IMO, if WMILT is still not officially closed it is only open with little power. The TAB’s members are done not getting paid as no money left – B. Rossen spend most remaining money.
It is the managers such as Chad Smith, Doreen, & B. Kosturos and COOP BOD’s that are in control and managing any assets that have not been completely turned over to WMIH-C now COOP and the Retained Earning that are in their control for distribution which IMO before end of year.
Who benefits current COOP holders or Escrow holders?
IMO:
What Escrow is waiting for is a payment from Retained Earning which is interest the Estate has collected from the ABS / MBS that WMIH held during the reorganization. Now that litigation is complete I feel like many we will see a cash payment made before end of 2021
What is driving COOP higher along with good earning are assets they have inherited from the reorganized company WMIH-Corp now renamed as Mr. Cooper group. Only current holders of COOP will benefit from and possible dividend payment, possible F/S, and possible acquisitions that may already be in the works. So if you do not hold COOP shares you obvious will not benefit from increase in pps of COOP.
It is the reorganized parent now renamed COOP that owns any assets from the old estate - it is the retained Earnings or interest collected the Escrow holders are waiting for which will come from DTC distribution.
I agree with AZ that COOP is the where big $$$ profits will come from increase in COOP PPS, but you need to own COOP.
BUT, yes there has been Billions in Retained Earnings collected over 14 years coming to Escrow holders before end of year.
Hi 955 Good question - What criminal activity are they trying to hide this time? IMO the FDIC is tiring everyway they can to cover up a bank rubbery and to show that WMB was not solvent at the time, We will not get any transparency from FDIC.
Quote:
In part what FDIC stated and most important as RON pointed out is they are working under FIRREA and with gag order they don't need to disclose any payments going forward.
Don't like the sound of that. Anytime Gov/banks operate under secrecy, is not good. What criminal activity are they trying to hide this time?
Thanks Ron for pointing that out.
In part what FDIC stated and most important as RON pointed out is they are working under FIRREA and with gag order they don't need to disclose any payments going forward.
From FDIC email
Let me re-iterate that the receivership and the liquidation trust are separate legal entities, have different roles and responsibilities, and do not coordinate on each other’s missions. Therefore, the resolution of the receivership should not impact the distribution of holding company assets held by the liquidation trust. In addition, FDIC already paid preliminary dividends under the priority scheme under FIRREA to the general creditor class. Any future dividends will depend upon the receivership’s ability to recover additional value for the receivership.
SO, WHEN WILL ESTATE ASSETS GET RELEASED?
Based on recent emails from FDIC I do not expect any big payment coming from FDIC and Aaron Moore their legal counsel made it clear:
“FDIC as Receiver for WaMu has no control over the holding company liquidation and FDIC never had control of exclusive holding company assets. To that end, the answer to your question about release of holding company assets depending on receivership termination is no. The FDIC’s termination of the receivership should not impact the liquidation of the holding company in that way.”
“Let me re-iterate that the receivership and the liquidation trust are separate legal entities, have different roles and responsibilities, and do not coordinate on each other’s missions. Therefore, the resolution of the receivership should not impact the distribution of holding company assets held by the liquidation trust”
It is my opinion that Chad Smith, Doreen, Bill Kosturos, and COOP BOD’s are all sitting on varies send buttons. I feel most assets are sitting at DTC waiting for distribution.
I do feel at minimum the biggest distribution will come from Retained earnings or collect interest and that must be distributed before end of year. So, it will be a happy year for many.
Chad Smith is deeply involved in managing other assets most likely for benefit of COOP or the true parent WMIH-Corp – Just a few under management:
AS PER GSA “WMI Entities” shall mean WMI, WMIIC, Ahmanson Obligation
Company, H.S. Loan Corporation, Marion Insurance Company, WAMU 1031 Exchange, WM Mortgage Reinsurance Company, Inc., WM Citation Holdings, LLC, Washington Mutual Finance Group, LLC, Soundbay Leasing LLC, WMGW Delaware Holdings LLC, WMI Rainier LLC and Washington Mutual Capital Trust.
WMIIC and WM Mortgage Reinsurance Company, Inc. were to go to reorganized WMI.
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/wamu-global-settlement-agreement.pdf
WASHINGTON MUTUAL FINANCE GROUP, LLC
https://opencorporates.com/companies/us_de/3210870
Soundbay Leasing LLC
https://opencorporates.com/companies/us_de/3310143
WMGW DELAWARE HOLDINGS LLC
https://opencorporates.com/companies/us_de/3048665
WAMU 1031 EXCHANGE
https://opencorporates.com/companies/us_ca/C0855386
Addition of Bill Kosturos in 2021
WMI Rainier LLC
https://opencorporates.com/companies/us_wa/602606678
Governor is WAMU 1031 EXCHANGE
Washington Mutual Capital Trust
https://opencorporates.com/companies/us_de/3383458
NOTE: Could payment come from other sources such as Litigation that has been finalized but payments or distribution not made yet, or managed assets – YES but that may go to COOP and Estate holders could get shares for Value. I do feel when this is all completed we will find most of what AZCOWBOY stated is correct and I for one very much learned a lot from him - thanks AZ.
ALL IMO
Email reply from FDIC - I will put in BOLD what I feel is important.
Mr. ME,
Thank you for your email. Your explanation and final question about DTC control of assets and the receivership is still a little confusing to me. I will attempt to answer as best I can. FDIC as Receiver for WaMu has no control over the holding company liquidation and FDIC never had control of exclusive holding company assets. To that end, the answer to your question about release of holding company assets depending on receivership termination is no. The FDIC’s termination of the receivership should not impact the liquidation of the holding company in that way.
You continue to identify the alleged value of the assets of WaMu at the time of failure without also factoring in the liabilities that offset those assets. When taken as a whole, the capitalization of WaMu at the time of its failure was deficient, due to its underreported liabilities. Chase paid $1.9 billion to purchase assets AND take on certain liabilities of WaMu, including all deposit liabilities. That transaction by FDIC as Receiver fulfilled the primary mission of FDIC to insure the deposits of WaMu so that no insured depositor lost any money due to WaMu’s failure.
Let me re-iterate that the receivership and the liquidation trust are separate legal entities, have different roles and responsibilities, and do not coordinate on each other’s missions. Therefore, the resolution of the receivership should not impact the distribution of holding company assets held by the liquidation trust. In addition, FDIC already paid preliminary dividends under the priority scheme under FIRREA to the general creditor class. Any future dividends will depend upon the receivership’s ability to recover additional value for the receivership. Please see my previous email for the link to the balance sheet currently. You will note that the remaining assets of the receiver (a little over $200 million) are far less than the general creditor class of claims, let alone lower priority claimants.
Respectfully,
Aaron Moore
Counsel, Legal Division
Federal Deposit Insurance Corporation
1601 Bryan Street
Dallas, Texas, 75201
Office: 972-761-2464
Cell: 214-202-6139
aarmoore@fdic.gov
From: David
Sent: Wednesday, October 27, 2021 10:37 AM
To: Moore, Aaron A. <aarmoore@FDIC.gov>
Subject: [EXTERNAL MESSAGE] 10015 Washington Mutual Bank - Concerns Regarding Receivership
Mr. Moore,
First, thanks for your response. We have a difference of opinions regarding how FDIC took control of not only WMB, but many assets of WMIH the Holding company. I have read most court documents that included the email exchange between Shella Blair and Jamey Dimion and NO, it was not a fair bid for the assets and more of a planned 5th amendment taking. The OTS had no choice as Mrs. Blair had a gun to their head to turn over WMB to the FDIC for receivership.
AS you stated: “even though FDIC entered into the Purchase and Assumption Agreement with Chase, there were several assets and many liabilities excluded from the transfer from FDIC as Receiver of Washington Mutual Bank to Chase. The Receiver has been diligently resolving those assets and liabilities to the benefit of the receivership estate, and will continue to do so until the Receiver is prepared to terminate the receivership.”
It is clear from JPM document*** that PROVES there are assets that JPM WAS NOT entitled to without payment. It is most likely it is these assets that JPM have delayed the return and have made $$ in this delay. IMO, JPM needs to make a final payment to the WMIH Estate. I know of many assets of the Holding company that have either been liquidated or now in a Trust held by the DTC waiting for distribution to Estate holders.
IMO, if any party is delaying turning over assets that they have not paid for like JPM than FDIC must enforce damage payment
The link from the FDIC shows that JPM acquired/got $258B in assets
Assets "acquired" by JPMC: - $258,576,810 billion and they paid 1.9 billion – really?
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Inception Balance Sheet: internal document showing at least 40 billion more assets than Liabilities when FDIC took by the 5th amendment WMB and gave it to JPM without fair or book value as required.
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Just a few notes from JPM document:
"Importantly, we did not acquire the assets or liabilities
of the bank’s holding company or assume the $14
billion of senior unsecured debt and subordinated
debt of Washington Mutual’s banks."
____________________________________________
Also page 3/28
"However, there is one area that has
shown an improving trend: third-party mortgage
servicing. This business relies on scale and efficiency
and, including the addition of the WaMu portfolio,
it grew 91% to $1.17 trillion of loans." - and JPM only paid 1.9 billion? They got more than that in just Real Estate, deposits, and servicing rights
With much research I feel there is at least 30 billion in estate assets that have been held in Safe Harbor or legal isolation – mostly interest from retained earnings from ABS/MBS held at DTC awaiting distribution my question to you is DOES FDIC NEED TO FINALIZE THE RECIEVERSHIP BEFORE THOSE GET RELEASED – IMO I DO NOT FEEL IT IS HOLDING BACK THE RELEASE, BUT WHO EVER IS HOLDING OR DELAYING THE CLOSE OF RECIEVERSHIP SHOULD PAY A DELAY PENELTY. 14 years is too long!
Sincerely,
David
Response from FDIC today. if anyone has question for FDIC this is the person to contact aarmoore@fdic.gov
Note how he puts the blame on OTS in taking control of the bank even though OTS made statement before that WMB was solvent. Also note what is in Bold below.
Mr. ???????,
Thank you for your email. Please note that any further communication with FDIC regarding the Washington Mutual receivership should be directed to my attention. As stated previously by FDIC in response to your inquiry, the current status of the receivership may be found at: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/wamu.html
Please note that several factors go into the resolution of a failed financial institution, including the liabilities of the failed bank, which, in the case of Washington Mutual Bank, greatly exceeded those previously disclosed to federal regulators. That failure to disclose liabilities, among other things, is what resulted in the Office of Thrift Supervision making the determination to close the bank, because it was insolvent. OTS, not FDIC, closed Washington Mutual Bank, because OTS was its primary federal regulator with the authority to pull its charter due to insolvency. OTS appointed FDIC as receiver for the failed bank to wind up its affairs, resolve its liabilities and liquidate its assets.
In addition, even though FDIC entered into the Purchase and Assumption Agreement with Chase, there were several assets and many liabilities excluded from the transfer from FDIC as Receiver of Washington Mutual Bank to Chase. The Receiver has been diligently resolving those assets and liabilities to the benefit of the receivership estate, and will continue to do so until the Receiver is prepared to terminate the receivership. The current dividend status may be found on the public website for the receivership. FDIC does not disclose non-public information.
Respectfully,
Aaron Moore
Counsel, Legal Division
Federal Deposit Insurance Corporation
1601 Bryan Street
Dallas, Texas, 75201
Office: 972-761-2464
Cell: 214-202-6139
aarmoore@fdic.gov
Subject: [EXTERNAL MESSAGE] FW: 10015 Washington Mutual Bank - Concerns Regarding Receivership
Mr. Donald Grieser,
If as you stated in letter that JPM made final payment per the P&A agreement both FDIC and JPM stole the assets of the estate as the price of 1.9 billion was far less than the assets that FDIC gave away to JPM without fair pay to the Estate.
Also if all litigation and claims are complete why does FDIC not close the receivership? What is holding up the close of receivership?
David
Guido2, This new filed document is a great read for all shareholders. When will our government stop ignoring the flood of law suits against them in hope - they somehow win on Statue of Limitations, which no court should approve.
MM are moving IDEX down to load up on the $2.50 PUT options.
I just sold to open 60 contracts on Oct. $2.50 PUT and collected .47 I am expecting the MM will move IDEX pps rapidly up closer to $2.50 in next few weeks before the Oct. 15th expiration date and will buy to close for big $$
Greedy G, the big money players sell options to make their big money and manipulate the pps during the month to help with best sell price and lowest price to buy back to close or just let it expire if the pps works for their strike price.
Today with the pps low I Sold to open 30 contracts on the Oct. $2.50 put option and collected .45 cash today. As time decays and when they move the pps up closer or above $2.50 I will buy to close those contracts, or if I feel at expiration date the pps will be above $2.50 I will let it expire and keep the full .45 I collected today