Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This should affect the PPS of COOP immediately..... Just out:
10 year Treasuries 4.435%
2 year Treasuries 4.737%
30 year Treasuries 4.607%
Xoom, I keeping asking myself why COOP would subject it's self to a PPS dilution and I just don't believe they will. They will look like geniuses if they meld new assets into the equation that offset adding back shares to the original share count. It's not hard to do!
There is no reason to subject shareholders to being screwed over once again. If they do, a campaign may rise up to out certain individuals for improper filings. Don't ask!
xoom, COOP's PPS on L2 is absolutely ridiculous, the Buy and Ask are for 1-2 shares with a spread of $.01. A few weeks ago I bought shares at market and had 31 separate trades to fill my order. It took over 10 minutes to fill the order. lol
For sure they have us in a tight holding pattern waiting to spring something on us....Good or bad!
NSDQ, CHXE, PHLX, Y, and BSE are on the bid and ask and are just passing the $0.01 baton back and forth. It appears we could hit $81.50, but it could just as easily be brought down to $79.00 if they wanted it there. Are they waiting for news on FDIC's LIBOR suit????
Royal Dude, You might want to reconsider your math! 😊
"1000 shares of U's = using .08 conversion rate = 8 shares of Coop"
1000 shares of U's= using .08 Conversion rate = 80 shares of COOP
Lots of us make errors in decimal places, I personally check my math twice because we are dealing with such large numbers.
justnormal, Thanks for the link to such detailed information.
I printed it off to review the details and to ponder some more on how this saga will ultimately unfolds.
continuity, the WAMUQ Cusip # 93932213 would have been used prior to the dead line of the release date, It should be on statements prior to that date in 2012.
xoom, those in the know knew exactly what they were doing when they dreamed up the escrow shares and then removed them. It was spelled out , but few believed them.
Our protection was that we couldn't sell the shares that we released. Many people had sleepless nights over this hidden in plain sight fiasco, well mine have been locked up for over 12 years sight unseen. Everything I see points to some real action before the end of the year, in fact it may be sooner than most suspect.
I have reviewed all 6 of the Ballots for Class 22 that my family released and as you say they are clearly Marked on the front of each Ballot, " "BENEFICIAL HOLDER BALLOT FOR CLASS 22 (COMMON EQUITY INTERESTS) (CUSIP NO. 939322 10 3)
I SPENT MANY HOURS GOING OVER 15 BALLOTS VERY CAREFULLY BEFORE SUBMITTING THEM TO OUR BROKER,. MY RETAINED COPIES HAVE BEEN IN MY SAFE SINCE 2/22/212.
ANYONE THAT WAS CARELESS WITH THEIR BALLOTS AND DOESN'T KNOW WHAT THEY SIGNED OR WHERE THEY ARE MAY BE CRYING LIKE BABIES IN THE VERY NEAR FUTURE.
"~ Now, Compare / Look Up, The Actual WMI Common Share Cusip (939322103) Listed on a Plan 7' Release Form, to a wmi-lt esc cusip (939ESC968) ... "NOT THE SAME" ~
Also, ... a cusip beginning with 9393 is in a direct association to ... WMB' ...
the wmi-lt cusip is, and always was, missing a ... "3" ... oh and yes, D Logan is a friend of mine ! ! ! ... the wmi-lt is all done "thankfully" ...
the wmi-lts esc cusips WERE NEVER financially aligned with ... WMB ...
just sayin'"
jhd51, with all the COOP shares that have traded this past week it is possible that the shorts have covered. If so, they will likely take it north. They squeezed COOP really hard the past 19 business days. I believe some positive actions will take place after July 6th and up through the 2nd quarter earnings report.
How about some new Spring scenery from your ranch?
We are nearing the end of the 2nd QUARTER.
THE UPCOMING FIREWORKS WILL BE A PLEASENT SURPRISE TO THE FAITHFUL IMO!
PLEASE REFRAIN FROM FEEDING THE INTERRUPTOR.
Ron, thanks for the heads up. Is it known who the insurers are to the majority derivative contracts and how will the Estate pursue enforcement at this late date? Is the FDIC Receiver responsible.?....it would appear that since they took over the banks they would be held accountable to collect on behave of the Bank and its beneficial owners.
XOOM, I noticed a fish market smell the moment I clicked on the first post. The smell got much stronger on the second post.
It's a little late for this kind of nonsense. Of course, if I see an actual signed letter by Fidelity acknowledging the correct number of shares of WMIH with its proper Cusip numbers I might reconsider my stance.
Volcano, Copy and post the signed letter and I will personally reveal what is to come your way.
Until then it appears you are attempting to outsmart the foxes of this board. lol
Large Green, When does this happen in your opinion?
https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm
"Right to Transfer Exchange Notes: The holders of the Exchange Notes shall have the absolute and unconditional right to transfer such exchange notes in compliance with applicable law to any third parties pursuant to Rule 144A and Regulation S (or any successor provisions thereto)."
The absolute desperation of one poster is beyond most sane peoples imagination.
1. JPM made an]initial[/color] payment of $1188 B to the FDIC and the Receiver will be publishing the actual Price paid by JPM when the Receivership of WAMU closes, but not until. The big Fat Lady (FDIC) has yet to sing , but when she does it will be heard and noticed around the world! Especially by those that actually reap the Billions in recovery. Many here have lied as they are not Escrow holders and are an embarrassment to humanity.
2. The value of the remaining Mortgages are backed by the value of homes at various times. These charts prove that the MBS's have increased dramatically in value based on the significant increase in home prices over the past decade. We are good!
https://www.visualcapitalist.com/20-years-of-home-price-changes-in-every-u-s-city/
This docket information certainly matches my documentation also.
JPM has not been released or dismissed from the FDIC LIBOR Case, those posting otherwise are attempting to hood wink naive members who are not really paying attention to the Actual LIBOR case Filed by the FDIC.
JPM was released and dismissed from another unrelated case, but for damn sure it wasn't the FDIC LIBOR case, when it is actually settled JPM will pay Billions. It's just a matter of time before we learn the actual settlement amount.
I, like many of you understand JPM made an initial payment 0f $1.888 billion dollars in the P&A of WAMU bank. but a few here have conspired to have you believe that the Balance has also been paid to WMI and their beneficial owners. That is a blatant lie!
The gate is wide open for JPM to complete the P&A in the near future after the Libor Settlement, but before the final accounting of the P&A and the close of the receivership. I'll give you the document that provides the pathway for closure as JPM is exempt and grandfathered in prior to the date the law was passed...... Now how convenient was that.?
" WAMU was taken over and gifted to JPM on 9-25-2008. JPM was given up to 6 years or up to 9-25-2014 to close the P&AA with the FDIC.
One month after the P&AA closure Deadline of 9-25-2014, the FDIC comes up with this Proposed Rule on 10-24 2014.
IMO JPM was Grandfathered in and this new proposal does not apply to them. What a Kowinky Dink!
o
Restrictions on Sale of Assets by the Federal Deposit Insurance Corporation
https://www.federalregister.gov/articles/2014/10/24/2014-25337/restrictions-on-sale-of-assets-by-the-federal-deposit-insurance-corporation
A Proposed Rule by the Federal Deposit Insurance Corporation on 10/24/2014."
Don't forget COOP fans, Friday is Triple Witching day!
Fed meets again for the next 2 days…they are constantly manipulation the markets and are the big shorters through the back channels.
Current Options don’t indicate a significant drop in PPS through the 21st, However world markets are waiting with bated breath as to what the Fed speaks over the next two days. Bunch of nervous Nellies!
Bizreader, I find it wise to read the first posts of anyone I question, it proved out when I found the conflicting amount of shares. The real question was, where did this person really come from.
We have both been on other message boards for over a decade....Read the first 50 or so posts for yourself as they actually create a trend and motive IMO. The claimed relationship to another poster said it all... your a bright person and will easily see the similarities and obvious motive of both posters.
Old timers from the Ghost Board, WMI reorg, board and Board Post actually know who I am. Split T was my favorite Restaurant during my college years? lol
AZ has always been right by stating, "Watch your Six"
Boris , If and when we get a large payout that has Taxes taken out many of us could hire a Litigating Tax Attorney Group to argue our case if needed since we would all pretty much be in the same boat . We can cross that bridge when we come to it as no one know what will actually take place first...to many potential sources of income.
After hour... Options are indicating $85+ on the 17th IMO.
May 17 1.80 0.95 1.95 2.15 7 44 82.50
May 17 0.60 0.35 0.55 0.70 134 376 85.00
"Price is heading up More IMO.
May17 Options are moving right along and indicate $84-$85 next week.
May 17, 2024
May 17 5.30 0.40 6.10 6.50 5 496 77.50
May 17 3.91 1.44 3.80 4.00 19 355 80.00"
May 17 1.80 0.95 1.80 1.95 7 44 82.50
May 17 0.55 0.30 0.50 0.60 114 376 85.00
May 17 0.05 -- 0.05 0.20 -- -- 87.50
Price is heading up More IMO.
May17 Options are moving right along and indicate $84-$85 next week.
May 17, 2024
May 17 5.30 0.40 6.10 6.50 5 496 77.50
May 17 3.91 1.44 3.80 4.00 19 355 80.00
May 17 1.80 0.95 1.80 1.95 7 44 82.50
May 17 0.55 0.30 0.50 0.60 114 376 85.00
May 17 0.05 -- 0.05 0.20 -- -- 87.50
goodietime, I appreciate you sharing your Spread Sheet with the Forum.
As a holder of Dime Shares I might add that they were included and are exactly equal to the WAMUQ Shares.
Largegreen, it doesn't get any clearer to those that can actually read and understand English.
" Assuming Ban will pay to the Corporation, or the "Corporation will pay to the Assuming Ban, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Ban Closing)"
2221, I vaguely remember someone posting the .0414252 number and it's had to do with KKR's conversion as I recall. Maybe someone else can provide real documentation as to it's relevance in our situation.
As a matter of fact, JPM only made an initial down payment of $1,89 Billion. The hundreds of Billions of the balance is pending and waiting adjustments, including LIBOR, when the Receivers closes the Receivership. It makes no difference to me whether JPM pays me or the FDIC.
Because of Jessie Brays 63 Million golden parachute payout on a change of management I suspect his payout will be when JPM takes control in the near future.
I see from you previous post you dabbled in Fortress Stock, that certainly helps explains your position and negativity....Wow! No escrow shares. I would be jealous too.
Carry on with your nonsense as it mean nothing to me nor my friends.
jb92106, Do you by chance have any documented count on COOP's current Treasury Shares. My Rep. at Charles Schwab & Co. is currently reviewing some 2012 documents.
JHD, You are so correct. Both Blackrock Inc. and Vanguard added significantly as shown in their DEC filings. No doubt they are adding as we speak IMO.
Owner Name
Date
Shares Held
Change (Shares)
Change (%)
Value (In 1,000s)
Blackrock Inc.
12/31/2023
11,227,682
507,046
4.73%
$870,258
Vanguard Group Inc
12/31/2023
7,626,038
391,780
5.416%
$591,094
jb92106, K-Mart certainly rings a bell to anyone that has seen an inside theft of property. Legal? Hmmmmmmm! It certainly wiped out shareholders from a Book value that was outdated and the real value was discovered after the Bankruptcy. That was perhaps on the the shadiest Bankruptcy I have ever seen up until WAMU was seized.
You are so wrong. Sears hid the real value of it's Real Estate during Bankruptcy with it's low outdated book value. Shareholders were wiped and CEO Eddie Lampert and his hedge fund, ESL Investments walked off with the spoils.
Wow! It appears to me that the current PPS of COOP is being reflected by the covering of short shares. No one is really selling shares as can be seen in COOP's low volume. Here we have a stock that is said to be worth $80-$100, yet we are being held down so entity can grab shares on the cheap, that's a lot of work for so few shares gained. I recall when Carl Icahn made this same type of play with Chesapeake Energy. As soon as he got filled the price shot back up. It takes pretty deep pockets and coordination from several MM's for this type of Yo Yo action. To me this is very exciting as I look for a significant increase in the PPS of COOP or other rewards that may offset any price decline in the near future of COOP. I live by Faith, and I'm very comfortable with my past decisions. The recovery of a few of the 700+ redacted Bankruptcy Documents was the tell for me. GLTA
Federal Reserve...No Rate increase! Watch COOP take OFF!
https://www.pbs.org/newshour/economy/watch-live-fed-chair-powell-holds-news-conference-following-interest-rate-meeting
How soon you forget the Illegal Fifth Admendment taking of WAMU.
I'll get my millions, but there is no soup for you!
Xoom, if that is so, I'll be one very happy camper!
Newflow, some just refuse to accept they screwed up by not releasing. Carry On my friend.
JWW, I wholeheartedly agree, COOP is on the march, however I wouldn't be at all surprised to learn the new notes exceed $1 Billion next Quarter as Chris is doing a great job, but on the other hand there may be others looking to buy MSR's since the Market took such a hit today. Very few Companies now have something positive to look forward to like COOP for the foreseeable future. It is easy for me to personally envision a $2 Trillion+ Servicing Business in the next few years.
It may be some time before ZOME comes back to life, but it is no fault of their own as the Government is led by a bunch of incompetent people that make bad decisions, day in and day out, to further their agenda and manipulate the markets to their advantage. We ride a two edged sword, one flip of the wrist and the game can change very fast, always remain vigilant to their new polices and the possible repercussions to your bottom line.
The Big Question remains, what entities actually funded the $1B in new notes and will be the recipient of the returning principal and accrued interest over the next eight years? Time tell all.
Thanks for posting a clean transcript of COOP's 1st Quarter Earnings report 2024 , mine was corrupted thru my copying a Word Document that was perfect and I didn't notice it until hours after I post it.
Xoom I'm curious as to how long before Piper Sandler comes out with a new Target price since the New Analyst worked under Kevin Barker.How much did they talk about COOP before Kevin Joined COOP. No matter what a few people say ,buddies share information and the Questions asked by the new analyst seemed quite rehearsed to me as well as the quick replies. Here are the two analysts I paid attention too.
Operator: Thank you. [Operator Instructions] And our first question is going to come from the
line of Crispin Love with Piper Sandler. Your line is open. Please go ahead.
Crispin Love: Thanks, and good morning. I appreciate taking my questions. Just first -- can you
discuss a little bit what you're seeing competition-wise in the origination segment, as you've seen
a solid improvement in margins and then also a pick-up in volumes in the quarter? And do you
think that you can hold margins steady or they might pull back a bit from the elevated levels you
had in the first quarter?
Mike Weinbach: Yeah, hi, it's Mike. As we look across the originations market, obviously with
rates up, it continues to be a challenging market. But at the same time as our portfolio grows, we
have more opportunities to help customers take advantage of the equity they have in their homes,
find ways to have a lower rate or if they're looking to move, help them with a purchase in a new
home.
So we don't give specific guidance on margins, but we feel good about the opportunities we've
had to be consistently profitable in this space and to continue to take great care of our customers.
So, we expect it to continue to be a competitive market if rates are higher. Obviously, that'll
change if rates come down, but we mostly focus on being there to serve our customers regardless
of the rate environment.
Crispin Love: I appreciate the color there. And then you also -- you mentioned that the MSR
bulk purchase market remains attractive and you put some numbers around that as well. But let's
dig a little bit deeper there and discuss, one the competition you're seeing, and then, two what
types of portfolios you're most interested in, and -- is it higher coupon, lower coupon, more
agency, or just any other color? Thank you, and I appreciate you taking my questions.
Jay Bray: Sure. Hey, this is Jay. Look, we think the bulk market is extremely attractive. I think
as Mike pointed out, we looked at over 50 opportunities in the quarter and it's a mix. It's a blend
of legacy portfolios, as well as at-the-money, kind of newly originated portfolios. And our
approach is just to maintain our discipline. We look at all these portfolios. We run them. We have
more data and more information probably than anybody in the industry around how certain
sellers are going to perform, how the collateral is going to perform from a prepayment
standpoint, default standpoint, et cetera. And we just exercise our consistent discipline in hitting
our targeted returns.
So I won't say we're indifferent with respect to what the portfolios look -- come out or what's in
the market, but we'll just continue to exercise our discipline and hit our targeted returns. But
we're very, very bullish on the opportunity, and we just actually bought some additional
portfolios this week. So we think the market is there and it's going to continue to be there.
Operator: Thank you. [Operator Instructions] And our next question is going to come from the
line of Bose George with KBW. Your line is open. Please go ahead.
Bose George: Hey, everyone. Good morning. Can you talk about the potential longer-term
growth in the servicing portfolio? I mean, could we see, you know, $2 trillion at some point and
would regulators see that as a concern or as a plus as servicing moves towards larger, well-
capitalized servicers like you?
Mike Weinbach: Yeah, hey Bose, it's Mike. Happy to start with that one and Jay and Kurt can
chime in as well. In the past, we had a target of reaching $1 trillion in servicing. I think as we
move forward, you're going to hear us talking a lot more about targeted returns. So we are not
targeting a certain size. We look at what the market offers. And as Jay just talked about, we're
disciplined in terms of the way we price opportunities and so the market really dictate what our
future growth is. We feel good about the ability to continue to earn good returns for our
shareholders.
The only thing I'd add though is, if you look at the market overall, there's about $14 trillion in
mortgages outstanding and actually over $30 trillion of equity in the homeowner's homes. And
that's grown probably from $10 trillion a decade ago. So there's been some slow and steady
growth in the market. You'd expect that to continue. In addition, it's a challenging business. It
requires -- making sure you're making the investments to stay compliant with Federal, State &
Local Laws and rolling out new programs that investors ask for four years.
So we're continually investing back in the business, and I think part of the reason you're seeing
us grow is because there's a lot of other people in the mortgage ecosystem who are focused on
something other than servicing, helping homeowners get into new homes, leading investment
and management platforms. And people have been able to partner with us either through us
offering subservicing where they could focus on what they do best or focusing on originations
and selling what they originate to be able to fund their business, which has allowed us to grow.
So a long way of saying, even with our growth in servicing, it's still a single digit share of an
overall market. And we think there's a lot of reasons for the market to continue consolidating. So
the rest of the ecosystem can focus on what they do best.
Jay Bray: Yeah, the only thing I would add Bose, is that if you look at our performance,
scorecard standpoint, I mean we're consistently number one, number two from all of our
stakeholders. And so I think there's a lot of confidence in Mr. Cooper as a servicer. And it's just
natural, to Mike's point, it's a large scale matters, technology matters, investment matters. You
know, if you look at other financial services, you know, types of companies, market share can
grow considerably. And so we don't see any impediment to growth from here.
The last comment I would make is about half of our portfolio is subservicing, right? And so we
don't really have the capital risk or -- it's completely capitalized business. So long answer to your
question, but that's how we think about it.
Bose George: That's great, that's very helpful, thanks. And then actually just a question on the
corporate segment outlook there. Actually, this quarter's number a reasonable run rate going
forward? I mean, there are a couple of little blips, but is this kind of a reasonable level?
Jay Bray: No, I think we've actually made some investments in the corporate segment to look
to reduce it going forward. We think there's an opportunity in the coming quarters to actually
reduce expenses in the corporate segment. So you shouldn't think -- you should really look at that
as an investment that we made to actually identify some future savings.
Bose George: So, just specifically, some of the expenses in the first quarter were the
investments, so you see it kind of trending down from here.
Jay Bray: Exactly.
Kurt Johnson: Although, Bose it's Kurt, I just wanted to comment that the debt expense had
only two out of three months on the new billion dollar issuance. So that will take up slightly, but
it's pretty close to our run rate. And we do call that out separately.
Bose George: Okay, perfect. Thanks a lot.
And I can say with a great deal of confidence that My staff and I along with several other long time holders of Escrow Shares have seen several Court and Government Documents obtained through FOIA.gov filings that prove you and your buddies are wrong, but you can believe what you want as it's no skin off my nose. Carry On!
Jay Bray: . You know we boarded [$130 billion] (ph) in the first quarter and our actual little compensation expense went down and we think we could board a [$100 billion] (ph) portfolio today and add less than 50 people. .
Jay Bray: But we're very, very bullish on the opportunity, and we just actually bought some additional portfolios this week."
1% in (new notes) might be close to buying $100 Billion in MSR's. Compass Point's, Giuliano Bologna just raised his Target to $95.00, it very conceivable that he learned of COOP's new Billion Dollar Notes and perhaps knew of an offering on new MSR in the $199 Billion range. The auction information and the winners Name is easily obtained. So who was the Buyers of the new 1 Billion in COOP notes?
My research leads me to believe this transaction was postpone until after the end of the First Quarter and has now possibly taken place, hence Compass Points new target of $95 and me raising my estimate of today's Price fro $82 to $84 + , we did hit the $82 Dollars today and the May Options at this hour indicate a range of $86-$87. I do believe Giuliano Bologna is onto something that wasn't observed by the other analysts and they will be raising their targets in the next few days to 2 weeks.
Wow, who could be the lucky Beneficial Owners of the new 1 Billion Notes that are getting such a handsome return for the next 8 years? Any Guesses?