United Western Bancorp Inc (fka UWBKQ)

[imawswami]

Longhorn, saw your post on yahoo


am myself also digging into this stock while holding a small position. Believe what was being referenced on yahoo was this:

http://www.lowenstein.com/files/Uploads/Documents/CapitalMarkets/Walnut%20Petition.pdf

Briefly, Walnut Place llc. is fighting a brokered settlement by BNYM (bank of new york Mellon) on behalf of Countrywide, from whom Walnut purchased overvaluved mortgage backed securities (mbs).

"The Bank of New York Mellon is the trustee for 530 of the trusts that Countrywide created, including all three of the Countrywide trusts that issued the certificates that Walnut Place
owns."

Walnut appears to be fighting a lowball offer along with 22 other investors in Countrywide MBS where BNYM was trustee.

As of this point i cannot find any documentation showing that UWBK is directly involved it this action.

Indirectly though this whole MBS situation is a mess. And if BofA/Countrywide is trying to ram through a mass settlement for one party can only believe the UWBK case or any eventual recovery they receive would only be strengthened by these events.

Hope this helps Longhorn and again am not even close to being fully versed in this stuff so pardon any errors...

best to us all.

ps. if any longs can expand on this, for everyone's understanding please do.