~ Some WMIH-Corp Questions ? and Some Answer ? ~
The Due Diligence on WMIH-Corp, this current NasDaq Trading, Russell 2000 Index Listed, security leads to simplified conclusions after some four plus years since its quite creative, Plan Approved, settled reorganization' ...
as referred to within the text of its own site' ... "WMIH emerged from bankruptcy proceedings as the successor to Washington Mutual, Inc."
So, ... Upon WaMu's seizure by the OTS / FDIC on 09/25/2008, was JPMorgan Bank, N.A. assigned as the designated receiving bank ? (Yes) ...
Is JPMorgan being forthright when it states' ... JPMorgan received the Banking Operations of WaMu ? (Yes) ...
and did JPMorgan received the - assets' - of WMB in the 09/25/2008 transaction ? (Yes) ...
did JPMorgan (legally) commingle the deposit base of WMB and WMBfsb' immediately ? (Yes)
was there a Purchase and Assumption Agreement put in place between JPMorgan & the FDIC, for a required eventual and finalization of the process initiated ? (Yes)
ahhhh' ... But' ...
Does the reorganized new company, WMIH-Corp own the "equity value" in its predecessor ? (Yes)
Do the releasing participants continue to own the Original WMI Investment Corp / Washington Mutual, Inc. Original Estate ? (Yes)
Did all that was the Massive WMI Parent Corp and its subsidiary, "Investment" become the property of JPMorgan upon the 09/25/2008 seizure ? (No) ...
Did all that was the Massive WMI Parent Corp and its subsidiary, "Investment" maintain all of its holdings within its banking sub WMB ? (No)
No one believes that, including JPMorgan, which states it' only received the Banking Operations and the assets of WMB in the transaction' ...
So the study and research has incorporated into it, just exactly what the releasing and continued current owners of the Original WMIIC / WMI Estate own, regarding the returning cumulative income earning stream over eight years, (cash) ... and, ... the illiquid MBS(s) and Certs, that are, and have been generating the income earning stream'
Direct from the WMIH-Corp site
www.wmih-corp.com
WMIH Corp. (“WMIH”) (NASDAQ: WMIH) is a corporation duly organized and existing under the laws of the State of Delaware. WMIH is the direct parent of WM Mortgage Reinsurance Company, Inc., a Hawaii corporation (“WMMRC”), and WMI Investment Corp., a Delaware corporation. On March 19, 2012, WMIH emerged from bankruptcy proceedings as the successor to Washington Mutual, Inc. Upon emergence from bankruptcy, we had limited operations other than WMMRC’s legacy reinsurance business, which is being operated in runoff mode and has not written any new business since September 26, 2008. We continue to operate WMMRC’s business in runoff mode and we are actively seeking acquisition opportunities across a broad array of industries.
