~ LP & Intuitive, My Best Answer Is ~
Regarding the FDIC's Priority # 1; ... "Administrative Expense" ... now Settled and allowed to be paid by the FDIC-C to JPMC' ? ... I believe there are many of us watching to be able to review a verification notifying us all, that' ... has now been completed' ...
personally, I don't give a care about the ... FDIC-C's allowed Priority # 4 ; ... "general unsecured claim" ... against the FDIC-R for the $3 billion (ish) ... good luck with that, Deutsche Bank' ... (DB only placed allegations of poor performance') ... completing the process to actually squeezing some $3 billion, out of the R' is quite a stretch ...
Now, to my OWN' Considerations as far as returns for the uq's ? ... IN MY OWN OPINION ? before any of this gets all twisted ? ... (I DO NOT Like to do this publically, either) ...
Here is what I do, ... simplified' ...
I take DB's reveal of the original 99 Certs base value' ... then, I have actually uncovered over 300 RMBS' pooling and servicing agreements' ...
So I use an average for my own considerations' ...
$165 billion / 99 = is roughly a $1.6 Billion Base Value Average'
Then, I multiply roughly 300 Certs X's an average base of $1.6 Billion, or, for the Residential ONLY' ... a total of roughly $480 Billion' ...
Then I use DB's average of a loss ratio' ... of roughly 12% ... or minus roughly $58 Billion ... Leaving roughly $420 Billion of Base Value' ... AGAIN for the Residential Trusts only' ...
Then I apply a Prospectus Described Minimum Participation of 25% of a Trusts Base Value at Issue, to be able to qualify for the associated Debt Structure' along with the Cash Returns' ...
So, ... as conservatively as I deem possible, ... and Considering Residential Certs Only, ... I believe that WMI has some Trust participating values' ... secured within WMI Investment Corp. of some, ... $100 Billion Dollars' ... at least' ...
So, amortize those financial vehicle returns over the last 8 years ish' ... and there you have it' ...
So, ... if you simply take the base at seizure' and divide by the 1.215 billion common shareholders that released ... ? ... well ? ... you get a rough value of ... kind of a lot per uq' share' ... not to mention the accumulated cash values, now held on your benefit for releasing your uq's back in 2012' ...
These are my own opinions' ...
AZ
