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Saturday, February 24, 2018 4:05:36 PM
____________________________________
Globic Settlement - Almost 600M for Feb/2018 Distribution - Does this include Investors who signed timely releases by 3/2012 -EscrowShare Markers?
***PDF 42 of 48***
http://www.globic.com/wamurmbssettlement/pdfs/DB%20WaMu%20Procedures%20for%20Dist.%20of%20Settlement%20Proceeds%202.14.18.pdf
Exhibit 3
to
February 14, 2018 Notice to
Holders
Exhibit A to Letter Dated January 26, 2018
Dividend received from FDIC $666,328,957
Trustee Expenses ($631,250)
Reserve for Remaining Expenses ($900,000)
Total Distribution Amount $664,797,708
Prior Expenses to be Reimbursed $81,689,738
Pro-Rata Distribution $583,107,97
Ronaldo Reyes
Vice President
Deutsche Bank National Trust Company
Trust & Agency Services
Global Transaction Banking
1761 East St. Andrew Place
Santa Ana, CA 92705-4934
January 26, 2018
Subject: Allocation of Settlement Payment
Dear Mr. Reyes,
Reference is made to the Verified Petition dated December 12, 2016. As contemplated by
paragraphs 67 through 69 of the Verified Petition, Duff & Phelps has been asked to calculate
the allocation of the initial installment of Settlement Proceeds received by Deutsche Bank
National Trust Company, as Trustee (the “Trustee”) among the Primary Trusts. Results are
contained in Exhibit A which provide such loss calculations as of October 31, 2017 along with
a proposed net allocation of the amounts to be received under the Settlement Agreement at
issue in the Petition among the Primary Trusts based on those losses, taking into account the
prior expenses to be reimbursed as provided by counsel.
Duff & Phelps conducted this analysis based on its methodology for computing actual and
expected future losses as outlined in Exhibit B. The Trustee provided Duff & Phelps with the
following values: (a) the amount of the intial installment of Settlement Proceeds received by
the Trustee, (b) the amount of the expense reserve retained by the Trustee and (c) the
amounts of “Prior Expenses to be Reimbursed” to each trust. Duff & Phelps did not verify
such amounts and assumes their accuracy.
You may furnish a copy of this letter with its attachments to the bond calculation agent of any
trust for which the Trustee does not serve as bond calculation agent. You may also include a
copy of this letter and its attachments in communications with holders of RMBS.
Sincerely,
Jennifer Press
Managing Director
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