Do you wonder How get paid?
Az, Ron, Cura, and many more ,however Az has been hammering on this point and I think Cura Asand's post needs to be read by all whom wonder how. This couple paragraphs nails down the mechanism and shows the way in irrefutably form as to the vehicles that will return money to escrow holders! It clearly states what and who is the benefactor of what.
I may add as to why I believe some of The original Hedgies have reduced their holdings is do to the fact KKR will not have a greater influence on WMIH going forward. Davids Teppers crew and such got what the got originally when the y all got caught with their hands in the cookie jar so the became escrow holders on approval ,however since they do not need to triple dip because of possibly KKR's lesser influence. Whether we get news now or latter rest assured your escrow shares truly are gold.
Cura real nice job! As always Az and such thanks for shining light years ago to the path leading us HOME!
CURA ASANDA
I noticed the morning that your post was overlooked by many.
SEVENTH AMENDED JOINT PLAN OF AFFILIATED DEBTORS
PURSUANT TO CHAPTER 11 OF THE UNITED STATES BANKRUPTCY CODE
Section 2.19. Loan Servicing. From and after the Effective Date, JPMC
shall (a) cause such of its Affiliates to continue to service the loans identified on Exhibit “Z” hereto (the “Loans”) pursuant to the servicing agreements identified on Exhibit “AA” hereto (the “Servicing Agreements”), (b) cause such of its Affiliates to remit to
WMI all checks and/or payments received in connection with those loans in its possession and (c) promptly (i) remit to WMI all servicing advances that JPMC is holding with respect to such loans and (ii) provide WMI an accounting with respect to each of the foregoing. Notwithstanding the foregoing, any dispute that may arise relating
to the servicing of such loans during the period from and after the Effective Date shall be brought pursuant to such servicing agreements and this Agreement is not intended to create any additional rights, obligations or remedies. The Parties acknowledge and agree
that (y) the Loans are the only loans that are or will be, from and after the Effective Date,serviced by the JPMC Entities (or their Affiliates) for the WMI Entities (or their Affiliates or their successors in interest) and that the Service Agreements are the only
servicing agreements between the JPMC Entities (or their Affiliates) and the WMI Entities (or their Affiliates) and (z) with the exception of the obligations set forth in this Section 2.19, the JPMC Entities (and their Affiliates) shall have no further obligations or liability to any of the WMI Entities (or their Affiliates) with respect to or in any way
related to the servicing of any loans for the WMI Entities (or their Affiliates).
Great Job Cura Regards,
Barry
AI
