Thursday, April 26, 2018 11:56:22 AM
Wondering if those steering our ship found a way to control our legacy "asset" value.
With WMIH owning the "equity", can they control how that value is used? Since their "equity" values are directly and wholly dependent on the use and direction of our "asset" value pool...... in other words, is there a legal loophole that as long as there is unliquidated mortgage product remaining, the underlying trusts are nothing more than an incubator until 100% liquidation, with no power to self-determine until those who control the equity income have been satisfied?
Make any sense? Thinking WMI could no more control "Pledged" mortgage product sequestered in trusts for investors, than we can now. We (legacy WMI who released) have stepped into those old WMI shoes, and just wondering if our hedgie partners have found a way to bypass us (at least until trusts 100% liquidate) so they can play with our (all of us togethers) WMIH equity interests?
In the security racket, the same loan was often pledged multiple times over. So even though one trust could be paid off and the collateral loan released from the pledge.....it could still be encumbered due to being pledged to other trusts not yet liquidated.
I realize this is only addressing the "assets" themselves (liquidated or no), and not the monthly cert income produced by these trusts............ Could the cert income be the "equity" that WMIH controls (us and the hedgies, all together) and is going to use for the NSM merger and others? And are we who released, forced to wait until the hundreds of overlapping and pledged Trust assets, are finally unleashed ?
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