My interested payment was marked First Lien Notes.
The math works out perfectly for one quarter's interest on this holding.
It is possible that Second Lien Notes were paid also if others have that description in their accounts. One thing is certain, the next WMIH 10-Q will officially detail what payments were supposed to be made.
I want to clarify something. Bonds normally trade in $1,000 increments. There have been some retail notes with $25 par values that trade under stock symbols. It is possible that the Runoff Notes were officially denominated in $100 amounts, but it really does not matter. Everyone received "odd lots". I have seen this many times before. Most recently, in the Thornburg Mortgage bankruptcy case, investors received principal amounts that did not fit normal pricing conventions because those amounts actually represented what needed to be distributed. This is exactly what has happened here. The amount shown in everyone's account is simply principal amount. The principal amount should not increase unless interest would be paid in kind (PIK). If you own $10,256 in principal, the only way you get more is if you sell at something other than at 100 or 100% of par.
Sorry for the delay. iHub was down last night.
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