Washington Mutual Preferred fka WAMPQ

[marayatano]

No new thoughts, however, I believe if PJ&S can provide a valuation as WMI-2 as being an active and running operating entity, rather than a run off entity as propose by WMI, I believe, we will be part of WMI-2 (shared with HUQ), rather than part of a liquidation trust. The addition of NOLs is also a good for preferreds.

A revaluation of WMI-2 as an active and running operating entity would/should be huge because I assume they were originally re insuring Wamu (and other) loans. This is my understanding, someone correct me if I am wrong about this.

There is also the FJR issue. If that comes into play, then equity control WMI-2.

This is based on if GSA is upheld.

Preferreds have a good chance and are the closest to being officially "in the money".


This is strictly my opinion.