~ WMI II - or, the WMB Action ~
WMI II which is referred to as the WMB Action, actually began "dual tracking" on December 30th, 2008' ... and' ... has now lead to the August 19th, 2016 publically announced "Settlement"
The March 2012' WMI Reorganizational Class Participants, were given an opportunity to be included in the complete and entire process by a submission of their class releases needed' (41.6)
The WMI II litigation (the WMB Action) also encompasses needed releases to be completed and finalized' ... the releases needed, are to be finalized by the Original Filing Noteholders' ... and' ... as stated, upon a Final Court Approval, will have deemed to have "dismissed with prejudice" ...
On a specific note, ... This doesn't actually involve us' ... we' ... have already provided our own releases in proper fashion' mandated by Feb 8th, 2012' ... we have actually been waiting for WMI II to be completed and the Original Noteholders Litigation, to also be completed' ... (thankfully' the Settlement was announced last August)
Currently, in December, 2016 ... an additional third party filing was submitted, ... again, which doesn't concern us, ... however, ... it is also currently being addressed' ...
This third party litigation, submitted in Dec, 2016' ... involves the Trusts and WMMSC' ... the Trusts are attempting to complete, once and for all, all of the numerous individual legal filings for ... foreclosure' etc, etc, ... that do not have proper and or complete documentation' ...
This third party litigation, will set to rest some 130,000 mortgages, encompassed within the Trusts' with existing document flaws, in one swift final action, ...
Again, this does not actually involve ... us ... specifically' ... this now additional third party litigation involves the Trusts' and their attempt to not be in a position to be held legally responsible for having to now correct well over 130,000 document flawed mortgages' ...
AZ
