Anyone Who Doubts Large Style Money Returning Needs To Read IHUB Post #490806
***Many thanks goes subject matter experienced poster CBA09s following post***
Ref: SO will they just magically make the Escrows worth something then?
Comment:
Shrew professional investors here. Those initial & ensuing Hedge Funds did not invest and release on guess work. Rather a keen understanding of what assets and rights to assets that will prevail beyond the reaching powers of bankruptcy.
It seems many here are down to a glimmer of hope, from once having high hopes. I have been primarily silent. Why!?! No need to focus on the daily PPS. It is of no concern to me.
Do you believe these Hedge Funds & Institutional Investors are concerned with the the daily PPS? Of course not, they are inured to its daily movement and the postings on this Board.
Those who have their ticket punched, namely releases, take note that you are joined in the company of those in the know. Knowing the "Final Outcome."
Key here, I strongly contend, is outside the waterfall. So those assets shielded from the Trustee's reach as follows:
1) SPE / Trusts assets ( The parent is WMI )
2) Abandonment of Stock. ( As any future value goes to WMI and not included as an asset of the estate).
LGs comment follows - Now you know why I feel the way I do about the following subject
Have I told you lately how much more, more and more I love my Escrow ShareMarkers that continues to grow immensely every single day forward?
One of the BEST Explanations Ever - From an Experienced Subject Matter Expert
***Many, many thanks to CBA09 for sharing your subject matter experience with us***
The following post by CBA09 (#490902) is also another great compelling, experienced view by a certified bank auditor such as him:
"Ref: Any idea as to timing? Are we looking at sometime before or after the end of 2018?
Comment:
I believe timing will be two fold:
1) That what happens within the finalization of receivership before the end of Sept 2018,
2) That what happens outside of the receivership, specific to Bankrupcty remote entities - SPE's. This, I strongly believe, is were the lions share of recovery will come. Each SPE / Trust is governed by the expressed language of each PSA. There a many and most likely many have reached ripeness while others continue until to carry out payment compliance to investors / certificate holders.
These stand alone SPE's have many accounts that keep separate various types of revenue. I know from first hand experience the amount of retained assets within can be massive. Many Trusts have 6-7 tranches with 10's of Thousands of loans in each tranche.
When a given Trust's PSA has completed it's fulfillment to certificate holders a provision called "Accounts Removable" takes place. But before the actual removable is initiated a reconciliation of "Retained Assets" takes place. This is the vouching of reports to $ in the captive cash accounts along with any remaining over "Over Collateralized Pooled Receivables." Then a true-up, namely $ distribution is performed by the Master Servicer. Here, from my experience, the Holding Company (WMI) would be the receiver of these retained assets.
Now the question is when will this happen. Since this is outside of Bankruptcy it could have happened with each fulfillment of PSA. Then again it could be ( for completed "True-ups" ) in tandem with the finalization of Receivership. Then of course, as those that meet fulfillment a payout accordingly. "
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***The following from Large Green***
****NOW READ THIS FROM THE COURT TRANSCRIPT (Holy Grail) AND IT ALL FALLS into PLACE***
*The Holy Grail*RETAINED ASSETS*YOUR HONOR*They Will Still Be There*
The legal group Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine. We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets.
Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
Now you know why I feel the way I do about the following subject
Have I told you lately how much more, more and more I love my Escrow ShareMarkers that continues to grow immensely every single day forward?
