Mr Cooper Group Inc (COOP)

[boarddork]

We can come close to guessing how much was in the trusts and being earned just by looking at WMI's 10-ks prior to 2008. They tell you where they report the MBS, ABS, etc. income.



Just look at income from the mortgage strips and certs income stream only..... averaged $40B before FJR interest rate per 8 years....

"from WMI 2007 10-k...pg 5

" For other retained interests in securitization activities (such as interest-only strips and residual interests in mortgage and credit card securitizations), the discounted cash flow model used in estimating fair value utilizes projections of expected cash flows that are greatly influenced by expected prepayment speeds and, in some cases, expected net credit losses or finance charges related to the securitized assets. Key economic assumptions and the sensitivity of retained interests fair value to immediate changes in those assumptions are described in Note 7 to the Consolidated Financial Statements – "Securitizations." Changes in those and other assumptions used could have a significant effect on the valuation of these retained interests. Changes in the value of other retained interests in securitization activities are reported in the Consolidated Statements of Income under the noninterest income caption "Loss on trading assets" and in the Consolidated Statements of Financial Condition as "Trading assets."


WMI consolidated states it posts the income value from securities under Trading Assets in the Consolidated Statements of Financial Condition. So:

2007 WMI 10-K
Trading Assets:
2007 $4.5 Billion income generated
2006 $7.8 Billion income generated
2005 $7.2 Billion income generated.


Kerry Killenger testified and we know losses were not that bad in 2008. Additionally what DB settled for in damages as trustee, is minute compared to the assets they managed.

If 2008 is the bottom and a slow recovery from there......to now 2016......could one assume an average of $5B per year + interest? That's $40B + 8 years interest.....AND THIS IS JUST CERT INCOME ( 1) above).