Was this posted here?
Sunshine conversed 30 minutes with his brokerage Corp Action team TODAY - 9/15/21.
Re: E Trade and Computer Share phone call
Quote from: myplace on January 24, 2020, 05:43:59 PM
Sounds like Great news...
Stockssss Thursday, 01/23/20 03:21:35 PM
Re: None Post #609106 of 609307
Yesterday I took some time to contact the head of trading department at E*TRADE to clarify and confirm a couple facts.
1. To triple check that the Alert stating “this is not the final payment” was not a mistake.
2. That the statement in the alert “This is not the final payment” was forward looking.
3. Confirm the date of the Alert and who originated it.
What I found was:
1. The Alert was a directive from the “Agent” and therefore the statement did not originate from any of the brokers.
2. The Alert was in fact a forward looking alert as it was given to the brokerage firm from the “Agent” simultaneous to the release of the shares we received at the close of the LTI as the scheduled “final distribution” on the 10th of January. This payment hit accounts sooner or later depending on the institution.
3. The “Agent” who sent the alert was in fact Computer share. Computer share is the Transfer agent for Mr. Cooper. They can be found here: http://investors.mrcoopergroup.com/TransferAgent/Index?KeyGenPage=430633
Then I decided to call computer share since I am a share holder and they house shareholder information. I am allowed to speak to the transfer agent with regards to my shares, and ask questions with regards to “Alerts” they sent to my brokerage firm to forward to me.
What I found was quite interesting after the verification process:
Me: Q. My brokerage E*TRADE confirmed there was an Alert stating “This is not the final Payment” coinciding with my last payment of shares that was paid on the 10th of January. Can you confirm that this alert is correct.
TA: A. Mr. “Blank”, hold on while I check the status of the company Mr. Cooper for that date.... on my screen it says the last payment from the Litigation was paid on that date. So those shares should be the final payment.
Me: Q. Yes, however, this “Alert” stating this is not the final payment was confirmed to have been instructed by Mr. Coopers Transfer agent. Is that not Computer Share?
TA: A. Yes, Sir, We are.
Me: Q. So, what I am thinking is, the referenced “Alert” stating “This is not the final payment” is with regards to other assets that should be returning. You see from the records we have publicly, there are clearly assets that have not been distributed back to equity. I along with many other people have been trying to verify this fact. Also, if there are safe harbored assets then they must be paid for. None-the-less, if your agent gave this alert to my brokerage firm E*TRADE then that means you directly made me privy to something forthcoming. I would like to confirm if you know why Mr. Cooper being your client directed you as their transfer agency to give such an alert indicating something outside of the Litigation trusts final payment?
TA: A. Sir, I can understand the confusion, please give me some time to ask around and check. This is unusual. Can you hold for a few minutes?
Me: Response: yes, certainly.
10-15 mins later...
TA: Response: Sir, yes we sent the Alert to the brokers as part of the final Litigation Trust payment. This “Alert” was directed by Mr. Cooper. Also, I can confirm shares are being processed. I cannot give you a date, but they are being processed for distribution to certain shareholders.
Me: Response: That’s great news! So if I may confirm once more. Just to be certain. That Alert was sent by Computer share as the acting Transfer Agent for Mr. Cooper?
TA: Response: Yes, that’s Correct.
Me: Q. Can you confirm if this is common stock or preferred shares?
TA. A. I cannot confirm that.
Me. Q. Can you confirm whether these shares for distribution is connected somehow to multiple shareholders or just one? Like is this a large distribution such as in consideration for a sale or purchase from a large pool of investors? Please keep in mind, I understand the company Mr. Cooper must make information open to investors via filings, and that some information is not public, that said you have made me privy to a payment and now told me shares are in transit. It seems there is some latitude given to these special circumstances and I am trying to pinpoint if these shares are for more than let’s say 1 or 2 firms like let’s say KKR.... and more for hundreds or more shareholders at once...
TA: Response: what I was checking on earlier was with respect to such an Alert we have. Again I cannot specify how many shareholders are to be receiving these shares, just that shares are in transit. You are correct, an “Alert” was given and I believe this is the best answer I have at the moment to give.
Me: Response: I understand. Thank you for letting me know. I think I got more than enough information. Have a great day.
TA: Response: your welcome, you too.
Please note I was not able to get clarification on payment dates however, I was able to confirm the "Alert" stating "This is not the final payment" was given on January 10, 2020 to the brokerage firms by the Transfer Agent, Computer share at the direction of Mr.Cooper Group.
I was also able to confirm that the Final LTI payment was indeed done.
This is significant because it confirms Mr. Cooper is the one paying us in the future.
It also confirms there is another payment!
Thanks Place for your support and efforts to confirm that. As the matter of fact Hold mentioned on IHUB couple of days ago, 4 possible sources to pay us:
3- FDIC-C (JPM)