AZCowboy
8 hours ago
~ Good Morning Hex, ... YES, I strongly do believe That the WMIH 2018 Acquired Subsidiary Group (nationstar etc.) ... or "COOP" ... WILL BE USED TO Separate the Original Releasing Owners of the 2012' WaMu's Reorganization, from those that came on deck ... years "after the fact" of the 2012's WaMu Reorganization ... by "COOP" using its "Share Buy Back Program" ~
... No fanfare is or will be necessary, ... everything has already been revealed' ... so, in my opinion it's a simple concept of ... "WE Already Told You" ... (P&AA, GSA, Globic, etc.etc.) ...
... "COOP" only reports within its 10-K's, that NationStar Mortgage LLC. Is the Only Operational Sub (LOL' ya right) ... and then ?, ... Nationstar Mortgage LLC. continues to service the value related and continuing ABS-Certs (Trusts) originally aligned with the WMI Reorganized Holding Company' ...
So, it has been my conclusion for MANY MANY Years, that there are TWO very big money entity's continuously involved here ... (XXXX ... and, XXXX / XXX) ... NOT COOP' ... COOP will simply be USED' ... maybe COOP survives ?, maybe COOP Does NOT, personally I DON'T Care if "COOP" survives what is to come, as merely a Loan Servicer ?, (their own words) ... servicing the loans can be done by numerous entity's ... (XXXX / XXX) initially comes to ol' cactus' mind' ... easy-peeezy stuff
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Over the last week or so, ... over the many years now and with so much brokerage / bank movement, ... I simply wanted to suggest / recommend that "everyone" check their own paper trail of original ownership by way of their ballots' ... to ... "Approve The Plan" and leave the other two of three options BLANK. ... only the one box should have been checked' ... AND' an individuals CURRENT Broker / Bank should have your original voting records intact' ... with the proper cusip number depicting ones original ownership' ...
... originally the DTC was and remains our "Voting Agent" ... the wmi-lt used those numbers to issue the esc cusips, that's all ... However, It Is My Opinion and Conclusion That THOSE Documents submitted to ones Brokerage or Bank', dictating ones specifically released ownership of WaMu ! ! !, ... will be used once again and SOON' ... for the Reset of the 2018 Acquired Subs "share platform" ...
There is BIG BIG Money Behind all that has been and will be coming, ... COOP' doesn't have the Larger Check-Book ...
I saw that YOU were Proactive within this follow-up of your own documents paper trail' ... in lieu of acting like a "KnowITAll" (36,000 +, and all of that 75/25 ... NOT') ... I hope that helped Hex' ... "Abba Da Ayy"
if I've missed anyone else, ... ? ... I never mean to'
just sayin'
AZ
JusticeWillWin
12 hours ago
💥💥💥 COOP FANTASTIC EARNINGS and HUGE ACQUISITION ANNOUNCEMENT
* Reported net income of $204 million including other mark-to-market of $68 million, equivalent to ROCE of 18.1% and operating ROTCE of 15.3%
* Book value per share and tangible book value per share increased to $71.24 and $68.67
* Servicing portfolio grew 37% y/y to $1,206 billion
* Repurchased 0.3 million shares of common stock for $24 million. Board of directors approved additional $200 million for stock repurchase, bringing total authorization to approximately $270 million
* Announced acquisition of Flagstar’s mortgage operations, including MSRs and subservicing contracts totaling approximately $356 billion in unpaid principal balance (UPB), for $1.4 billion in cash
https://www.businesswire.com/news/home/20240725237654/en/Mr.-Cooper-Group-Reports-Second-Quarter-2024-Results-and-Announces-Acquisition-of-Mortgage-Operations-From-Flagstar
clawmann
1 day ago
OK. One more time. I do not know if there will ultimately be any distribution to "escrow" holders; but if there is, it will come from the FDIC. The fact that stock certificates were cancelled during the Chapter 11 bankruptcy case does not matter. The fact that your escrow markers went "poof" also does not matter. Those markers were to assist with distributions from the WMILT under the bankruptcy case.
They have no relevance to the FDIC. The FDIC has access to all records relating to prior holders of WMI equity. The FDIC is required by law to distribute any amounts it recovers in connection with the liquidation of a failed bank in a specific order (and please don't beat that "WAMU did not fail" drum again; we have all heard it a 1000 times).
See: https://www.fdic.gov/consumers/banking/facts/priority.html "By law, after insured depositors are paid, uninsured depositors are paid next, followed by general creditors and then stockholders. In most cases, general creditors and stockholders realize little or no recovery. Payments of uninsured funds only, called dividends, depend on the net recovered proceeds from the liquidation of the bank's assets and the payment of bank liabilities according to federal statute. While fully insured deposits are paid promptly after the failure of the bank, the disbursements of uninsured funds may take place over several years based on the timing in the liquidation of the failed bank assets."
The only reason for some lingering hope of a distribution to former equity is this: WAMU's assets included some serious claims against third parties for LIBOR manipulation. As a fiduciary, the FDIC is required to make good faith efforts to pursue and recover on those claims. We will see. .