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.
AZ Jay just sold 90,000 COOP shares from his trust. From the document there are 64,483,836 shares outstanding!
Semper Fi
Does anyone on this board need help from Hurricane Helene? Let us know if we can help?
Semper Fi
AZ Thanks! I also watch Deutsche Bank (insider) Coops forecasted price still at $90!
Semper Fi
AZ it looks like COOP’s exchange price is $90. So $90 times 36m shares equals $3,240,000,000. That appears to be a majority ownership of COOP! I was hoping for more value but it is what it is.
Semper Fi
Wow over a million shares traded today!
Semper Fi
Thanks RD for the reminder. They have missed two payments already. Any idea why?
Semper Fi
AZ thanks to you my break even was in the high $20 range and I sold 90% of my holdings in the mid $40 range. Now everything forward is pure gravy! So when does the gravy train start?
Thanks again AZ!
Semper Fi
AZ it appears COOP is crashing! Which is good for legacy WM holders! I suspect though with COOPs balance sheet shrinking with lower interest rates is also in the mix.
Semper Fi
Yep however when the balance sheet shrinks so does their credit score!
Ts but a drop in interest rates does hurt COOPs paper profits and balance sheet!
Semper Fi
Yep down another $1 per. That’s three days in a row! I hope COOP has enough cash to support the price. Or we may have a good buying opportunity soon. Az does the WMCT still have the $50 minimum or is there a bankruptcy clause?
Semper Fi
Wow COOP down to $89. To much mystery on the books! Hope it doesn’t drop to $50 and delay are CT cash!
Semper Fi
Thanks AZ! Can you explain the .04 calculation? What are we trying to achieve?
Thanks
Semper Fi
Yep Boris AZ also suggested we buy WMIH at $.50 which I did as well. But with 4 kids in college at time, I didn’t have much disposable cash to invest. But it helped, thanks AZ!
Semper Fi
Pick. Az told everyone to Buy Coop at $5 a share. I don’t hear of any of those folks complaining! I’m not!
Semper Fi
Bob two new bond shares and new preferred is what they mentioned.
Bob did you see the 17% annual return for 15.5 years? And two new securities and 106 million COOP shares! Wow it looks like it’s all tax free as well double wow!!
Semper Fi
Yes Bob I remember when I posted on both boards in 2018 additional shares for uq’s when Project Eclipse was announced and was laughed at. Especially after Jay said “Shares for Assets” when he talked about Eclipse! I do appreciate AZ’s additional information on share counts! That could be a game changer!
Semper Fi
Thanks AZ! I’m funding three weddings in the next 2 months! I wish Kay was still here to enjoy her daughter and granddaughters weddings. I’m sure she will be watching though!
Thanks AZ again!
Semper Fi
Lodas reread the wmih/ coop 10ks. They are there!
Semper Fi
Wow Lodas you sound more like AZ everyday! Correct the old securities are done. However the 5th court said as reported in Globic in December 2017, that Bankruptcy law has no control over trust assets! As AZ has explained numerous times. There are 9 super trusts whose Beneficiaries are the previous owners of WM equity and bonds! Welcome to the team.
Semper Fi
Thanks AZ I’m so glad that the piers were court ordered, for cheating, out of the WMICT. That’s all legacy common shareholders income now since 2008. Back pay alone is about $23 plus interest per legacy common share holder just to catch up missed past payments! Plus the CT Trust pays out to 2041! Also I’ve been reading up on COOP bond issues since 2018. As others have suggested those bonds might be partially owned by WMI legacy common shareholders as well. What’s your thoughts on the COOP bond holders?
Semper Fi
Thank you AZ! Talked to Schwab corporate actions yesterday to reconfirm my releases and W9. My accounts started at USAA and transitioned to Schwab. All is cool! We also discussed how long it will take this process from DTC to them. They said two to three days ! Will we see an 8k when this starts?
Semper Fi
AZ thank you very much. Add in income from the WMI MBSs, Capital trust and the non banking subs that’s a pretty tidy sum!
WOW
Semper Fi
Bill48
Remember the FDIC is involved with JPM. But yes compounding interest could double this.
Semper Fi
Lodas JPM paid a down payment $1.29B after the 5th circuit court denied them from getting all the MBSs in trusts. The holders of beneficial ownership of WMI gets them. In the purchase agreement JPM agreed to pay book asset value. Which is
$299B less the non banking subs book value of $40B and less deposits of $185B equals $74B plus interest. May I suggest you read all the pertinent documents.
Semper Fi
AZ Thank you for the details! My calculations tells me JPM owes us about $74B plus interest. Also how is xxxx going to handle the non banks subs value($40B)? Can you see any payments? Also with all the caymans trusts proves all bond holder should be covered as well.
Semper Fi
AZ Thank you!
Who is the beneficiary of the 6 Cayman trusts?
Semper Fi
Thanks AZ. So there should be no more holds on the CT? Then they could use the old “3” registered security to distribute all the monies from all of the trusts!
Semper Fi
Yes Mad COOP is over leveraged and the Analysts get real nervous when new assets show up on the balance sheet without being paid for!
Semper Fi
Thanks AZ. Are you saying we have to wait until 2025 for the fun to begin?
Semper Fi
AZ funny thought Gold average price in 2008 $872! Today Gold price is $2468!
Semper Fi
Thanks AZ. Maybe we should get 50million COOP shares for interest on Project Eclipse that should have closed at the end of 2018!
Semper Fi
Az the 10Q is out. Is there 58million treasury share available?
Semper Fi
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000933136/8c970be5-8963-4df9-a137-4d0afe6859ed.html
Thanks Az for clarification of the separation of the multiple entities we are dealing with. There are multiple sources of possible income streams COOP bonds and shares, all the different MBS payments, JPM payments, etc. How is this all going to be distributed? New WMIH stock for legacy common owners? I’m very concerned that COOP will inherit a significant amount of MSRs for cheap COOP stock(Project Eclipse) as well! Your thoughts on how this is going to roll out after the COOP stock ownership is fixed?
Semper Fi
FYI Stormy it was veterans who preserve your right to speak freely on this board. You may want to cut them a little slack!
Semper Fi
Thanks AZ. Does the $50 minimum share price still pertain to the WMCT2001 restrictions as well or is that trust in bankruptcy mode now!
Thank you
Semper Fi
AZ wait are you saying the mbs trusts are paying in COOP stock? Or we looking for another security?
Semper Fi
Thanks AZ for all the intell! Are all the lawsuits over with? Libor hopefully next month?
Thanks
JLC