Tuesday, May 16, 2017 4:20:23 PM
My estimatiin is that there are at least $80 billion of interest cash that the portfolio has collected over the past 9 years, about 25 billion of principle ownership and up to $60 billions of loans left.
The beauty of the 3.5 billion shares exchange with WMIH for the remaining loan portfilio is that it legally allows FDIC to return the illiquid assets in a "publically valuated" fashion. See my posts from yesterday where I explained why dilution of WMIH with 3.5 billion shares is actually a good thing for current 200 million shareholders.
So bottom line. I think escrows get 80 to 105 billion in cash and 3.5 billion WMIH shares for the remaining loans. My guess of WMIH share valuation afterwards is $10 to $20 per share.
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