Mr Cooper Group Inc (COOP)

[CBA09]

Yes9 - Assets Retained

A comment in court of such matter strongly suggest there are / will be assets available.

Hmmm... and JPM bought the whole bank!! Then why not claimed by JPM? Are these non WMB assets?

Possible reasons-
1) Assets totally owned by WMI and unknowingly seized.

2) Assets purchased by WMI and transferred to WMB.

In my auditing days I came across numerous Holding Companies that legally owned the assets then would transfer to their operating entities. Now if these assets were contractually set up as financing agreements with redemption clauses along with being consolidated with WMI financials they could be insulated from WMB bankruptcy.

Being the size of WMB this would be a nightmare accounting / auditing task. Discovery of these types of inter-company transactions would involve auditing loads of data among huge lists of spreadsheets.

Also totally owned SPE (s) of WMI could very well have to be audited to unmask the assets seized and not WMB.