Mr Cooper Group Inc (COOP)

[muyuan51]

Here you can see an example for the genius of former WAMU BOD (in special Kerry Killinger) if you look at your citing in just a little different way, emphasis new mine:

fredmiller1999 Monday, 01/09/17 06:16:46 PM
Re: drrugby post# 470183
Post #
470238
of 470247 Go
(b) As to obligations or liabilities for repurchase of, or make-whole payments on
account of, loans securitized or sold by WMB or any of its affiliates, the FDIC-Receiver
and JPMorgan agree that JPMC has already expended more than the amount of the Book
Value of the corresponding reserve reflected on WMB's accounting records (which is
how the Court in the WMB Action construed "Books and Records" in Section 2.1 of the
P&A Agreement) as of September 25, 2008, and further agree that JPMC bears no further
obligation or liability for such obligations or liabilities under Section 2.1 ofthe P&A
Agreement.


kinda seems like they already paid it or its an agreement of payment..


we can be certain... WMB SOLD assets to JPM...
________________________________________________________________

see pg.10

https://www.google.at/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwj1qoO-sLfRAhULVhoKHcjNCD4QFggkMAE&url=https%3A%2F%2Fwww.fdic.gov%2Fbank%2Findividual%2Ffailed%2Fwamu_dbntc_jpmc_fdic_settlement.pdf&usg=AFQjCNFpu87rMiLQLm96jOEuvrVAd5usqA&sig2=9WujrRmmWmVgfS5tOnpt3w&bvm=bv.143423383,d.d2s

And if I may add from the P&A Agreement FDIC-JPMC 25.09.2008:

"Accounting Records" means the general ledger and subsidiary ledgers and supporting schedules which support the general ledger balances.

"Assets" means all assets of the Failed Bank purchased pursuant to Section 3.1. Assets owned by Subsidiaries of the Failed Bank are not "Assets" within the meaning of this definition.

"Other Real Estate" means all interests in real estate (other than Bank Premises and Fixtures), including but not limited to mineral rights, leasehold rights, condominium and cooperative interests, air rights and development rights that are owned by the Failed Bank.

"Record" means any document, microfiche, microfilm and computer records (including but not limited to magnetic tape, disc storage, card forms and printed copy) of the Failed Bank generated or maintained by the Failed Bank that is owned by or in possession of the Receiver at Bank Closing.

"Subsidiary" has the meaning set forth in Section 3(w)(4) of the Federal Insurance Act, 12 U.S.C. Section 1813 (w)(4), as amended.
________________________________________________________________

Not to mention Off Balance Sheet (OBS). And now think for Safe Harbor:
What is 'Safe Harbor'
Safe harbor refers to a legal provision to reduce or eliminate liability in certain situations as long as certain conditions are met. Safe harbor also refers to a shark repellent tactic used by companies who do not want to be taken over, where they purposefully acquire a heavily regulated company to make themselves look less attractive to the entity considering taking them over. The phrase "safe harbor" appears in the finance, real estate and legal industries in a number of different ways.(Investopedia)

Question: What do you think common sense, how many "Assets" or "Other Real Estate" have been on the "Accounting Records" of the Failed Bank (WMB) only, not their Subsidiaries, owned by or in possession of the Receiver at Bank Closing ?

As I see it, the WAMU BOD with then CEO Kerry Killinger were well prepared for some disaster scenarios long before September 2008, I'm sure they had their special "Living Will" already wrapped up in a deal (they were very well aware of Wall Street vs. Main Street, remember "not to clubby"), to ensure that the "life project" of K.Killinger as a whole was not jeopardized !

p.s. I always have to smile a little when rereading the P&A Agreement 25.09.2008 and detect the ominous "Schedule 3.1.a." TWO times (pgs. 9 and 21) and remember the "scrivenors error" ... fool me once ... but fool me twice ....

So, WAMU'ers, as I stated sometimes already: We live in really exciting times, don't we ?