Tuesday, February 05, 2019 10:22:39 AM
IMO...my conclusions as of February 05, 2019:
1) fact: Underwriters settled for a $72 million Class 19 claim. Per the Stipulated Settlement as of March 28, 2013, the underwriters received 1.4 million shares of WMIH.
2) post reverse split : 1.4 million shares of WMIH / 12 = 116,666.66 shares of COOP
3) if the underwriters are to receive full value of their $72 million Class 19 claim, COOP would need to reach $617.14
$72 million / 116,666.66 shares of COOP = $617.14
4) if the underwriters also received WAMPQ WMI Escrow Shares, they would have received 73,684 shares of WAMPQ WMI Escrow Markers
If total WMI recoveries = $10 billion then
73,684 WAMPQ WMI Escrow Marker shares (WMI Class 19 P Markers) x $1,000 = $73,684,210
5) Ask yourselves, what’s easier to achieve?
a) COOP = $617.14
OR
b) WMI recoveries = $10 billion
IMO...my answer: since the Underwriters knew all the inside information regarding MBS Trusts (which they underwrote themselves), my WAG, the underwriters (if they received 73,684 WAMPQ WMI Escrow Markers) are expecting at least $10 billion in WMI recoveries.
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