VERY IMPORTANT QUESTIONS AND ANSWERS FROM WMIH IR DEPARTMENT;
Our discuss had to do with currient ABS / MBS serviced but owned by WMI “LT” OR the Trust benificals such as 2007-WMOA1 – 4 and 2006- WMAR 1-9 series
Note: I got permission from Rich Delgado to post my questions and I did my best to type his response but not word for word which will be in red.
- One question would be the retained earnings who’s holding them? As the “LT” does not show them on their books. When will they get released?
Answer: All payments from servicing go back to the Trusts and it is the Trust that pays any bond investors and retains interest payments in a fund for Trust benefits.
- Are there other ABS / MBS trusts being held for WAMU Estate? Possible some that the FDIC, or JPMC holding in safe Harbor but serviced now at WMIH?
Answer: We servicing many trusts for DB, JPM, and many other large banks, but do not know the underlining bond holders or Trust beneficial interest.
- Why is WMIH reselling the 468 million shares as per news today as it is not clear?
Answer: Has to do strictly with preferred B holders, which gives them liquidity and removes all restrictions and gives them physical ownership of the WMIH stock and can now trade with it, and borrow on those assets held. It does not mean they will sell their shares only they now have physical ownership to be able to.
Re: WMIH-Corp issues that remain open are:
A:, When will the WMIIC / WMI (now obviously was reorganized into WMIH-Corp) Bankruptcies be finalized and completed ?, ...
Answer: MY NOTE: THIS IS VERY IMPORTANT AND ONE NEEDS TO UNDERSTAND – HIS RESPONSE = The merge only included WMIH-Corp and no subs except the run-off reinsurance which should be closed end of year.
B:, Why do WMIIC and WMI continue to File with Individual IRS Tax ID Numbers ?, ...
Answer: Again the merge has nothing to do with any subs of the WMIH holding comp. and any Equity assets interest should be considered not part of the merge and still held by ether past sub, the LT or still in Safe Harbor.
C:, When will WMIH-Corp sever ALL relations with A&M ?, ...
Answer: As for the merge A&M has no dealings with the new merged company and should be considered to be working with the LT.
D:, Can WMIH-Corp comment on the current progression of the settlement between WMIH-Corps' actual reorganized predecessor WMI, with the FDIC, as to date, the FDIC R & C as Entities, are not yet Released ?, ... No settelments with FDIC it all has to do with the LT
Answer: The new merged company has no dealing with FDIC, and all dealings and settlement should be considered still outstanding with the LT
E:, When can current shareholders be able to view a full complement of the WMIH-Corp Consolidated Taxation Group ?, ...
Answer: We will file early Oct. the new 10Q which will show all tax groups but will not include any interest in WMII or other past subs.
F:, Without revealing any specific details, Generically IS ? WMIH-Corp as the current reorganized WMI, a "Certificate Holder" as a financial participating recipient', in any Reg-S or Rule 144(a) Performing ABS-Cert or Trust ?, A Simple Yes' Or No Answer' will suffice' ...
Answer: Merge did not include any subs except for the run-off reinsurance company. If there is any interest in the Performing ABS-cert or Trust they should be considered with the LT or other sub which was NOT part of the merge.
G:, Does WMIH-Corp or any Present Tense Affiliate currently maintain any subsidiary that "functions"', without any Assets or Operations of Its Own ?, ..
Answer: .NO, none that where part of the merge.
H:, Being that the amount of "Loans To Be Boarded'", number or $65 Billion Dollars (ish), is so large, Can any comments be made as to where these loans (To Be Boarded) are coming from ?, .
Answer: The possible added 65 billion in servicing is from prior negotiations with customers that plan to add to their servicing portfolios. It has nothing to do with any other Trust the Equity may have an interest in. It is his hope that if the Equity does have these ABS / MBS Trust that they will get service by the new company.
MY TAKE ON THIS IS:
- THERE WILL BE NO SHARE 4 VALUE WITH NEW COMPANY AND EQUITY HOLDERS
- THAT THERE WHERE POSSIBLE SUBS FROM WMIH HOLDING THAT WERE NOT PART OF MERGE DEAL – REMEMBER ALL THE WAND SUBS SET UP – THIS MERGE ONLY INCLUDED THE WAND MERGE CORP AND NONE OF THE OTHERS – WE NEED TO SEE IF ANY OF THOSE ARE STILL SUBS OF OLD WMIH HOLDING. ALSO, HE MADE A POINT THAT THE MERGE ONLY INCLUDED WMIH CORP AND NO OTHER WMIH HOLDING SUBS OTHER THEN THE RUN-OFF INSURANCE SO IT IS POSSIBLE OUR EQUITY INTEREST ARE STILL SITTING WITHIN A SUB OF WMIH HOLDING.
-
RICH WAS VERY POSSITIVE ON THE FITURE GROWTH OF WMIH, AND FEELS IT WILL CONTINUE TO GROW FAST BUT NOT ON THE SAME % AS IT HAS AS COMPANY IS MUCH LARGE.
AI
Market Data 
Markets 
