Mr Cooper Group Inc (COOP)

[Large Green]

BBANBOB, here is an old post with Dr. A's links and much, much more.

***Exciting Times*** Let Us Review*** So, So Much Money!

The reasoning that follow more than likely explains investment options and differences!

PIERS INVESTORS = Received ZERO ESCROW SHARES and EXCITING TAX CHALLENGES for investment = FACT
____________________________________________
Equity INVESTORS = ABUNDANCE of NewCo/WMIH Shares AND ESCROW SHARES = FACT

Now for those whose investments are aligned, this review SHOULD be totally exciting!

***Former WaMu Executive***Shows WaMu Tens of Billions***

http://s.wsj.net/public/resources/documents/WSJ-WAMU-Responsive-e-mails092810.pdf

Speaking of Dr. A. ***GREAT INFORMATION***

Here are his filings...Great read for those who have Escrow Shares

http://www.kccllc.net/documents/0812229/0812229100615000000000011.pdf

http://www.kccllc.net/documents/0812229/0812229100603000000000011.pdf

http://www.kccllc.net/documents/0812229/0812229100415000000000132.pdf

****ASSETS***No Way**SAY What? JPM SAYS ASSETS at FDIC - REALLY? It was said the FDIC does NOT hold assets from the former WaMu Estate.

WaMu Asset Acceptance Corp., as Securitizer, is filing this Form ABS-15G in respect of all mortgage-backed securities representing interests in pools of residential mortgage loans for which it acted as depositor and which are outstanding during the reporting period. On September 25, 2008, JPMorgan Chase Bank, National Association (“JPMCB”) acquired the banking operations of Washington Mutual Bank from the Federal Deposit Insurance Corporation (“FDIC”). It is JPMCB’s position that certain of the repurchase obligations of Washington Mutual Bank remain with the FDIC receivership. Assets are reported herein in accordance with Rule 15Ga-1 regardless of the validity of the demand or defenses thereto, and nothing in this report shall constitute, or be deemed, a waiver of any rights, defenses, powers or privileges of any party relating to these assets.

http://whalewisdom.com/filer/wamu-asset-acceptance-corp

See FOOT NOTE ONE - Following Link

http://www.sec.gov/Archives/edgar/data/1317069/000092963815000128/wamu-67348_abs15g.htm


From the GSA:

http://www.sec.gov/Archives/edgar/data/933136/000090951810000371/settlement_agr.htm

Exhibit Z

Loan Servicing. From and after the Effective Date, JPMC shall (a) cause such of its Affiliates to continue to service the loans identified on Exhibit “Z” hereto (the “Loans”) pursuant to the servicing agreements identified on Exhibit “AA” hereto (the “Servicing Agreements”), (b) cause such of its Affiliates to remit to WMI all checks and/or payments received in connection with those loans in its possession and (c) promptly (i) remit to WMI all servicing advances that JPMC is holding with respect to such loans and (ii) provide WMI an accounting with respect to each of the foregoing. Notwithstanding the foregoing, any dispute that may arise relating to the servicing of such loans during the period from and after the Effective Date shall be brought pursuant to such servicing agreements and this Agreement is not intended to create any additional rights, obligations or remedies. The Parties acknowledge and agree that (y) the Loans are the only loans that are or will be, from and after the Effective Date, serviced by the JPMC Entities (or their Affiliates) for the WMI Entities (or their
Affiliates or their successors in interest) and that the Service Agreements are the only servicing agreements between the JPMC Entities (or their Affiliates) and the WMI Entities (or their Affiliates) and (z) with the exception of the obligations set forth in this Section 2.19, the JPMC Entities (and their Affiliates) shall have no further obligations or liability to any of the WMI Entities (or their Affiliates) with respect to or in any way related to the servicing of any loans for the WMI Entities (or their Affiliates).

Notice that it says WMI and NOT WMB?

Also notice that most of the loans are single family residential loans?

And let's see what is noted in the P&A between FDIC as RECEIVER of assets from WMB and JPM. Closing date 25th of September 2014.


Let's zoom in on Schedule 3.2 (it is called PURCHASE PRICE OF ASSETS by the way, to avoid any misinterpretation):

(a) cash and receivables from depository Book Value
institutions, including cash items in the
process of collection, plus
interest thereon:
(b) securities (exclusive of the capital stock of Market Value
Acquired Subsidiaries), plus interest
thereon:
(c) federal funds sold and repurchase Book Value
agreements, if any, including interest
thereon:
(d) Loans: Book Value
(e) Other Real Estate: Book Value
(f) credit card business, if any, including all Book Value
outstanding extensions of credit:
(g) Safe Deposit Boxes and related business,
safekeeping business and trust business, if Book Value
any:
(h) Records and other documents: Book Value
(i) capital stock of any Acquired Subsidiares: Book Value
(j) amounts owed to the Failed Ban by any Book Value
Acquired Subsidiar:
(k) assets securing Deposits of public money, Book Value
to the extent not otherwise purchased
hereunder:
(1) Overdrafts of customers: Book Value
(m) rights, if any, with respect to Qualified Market Value
Financial Contracts.
(n) rights of the Failed Ban to provide Book Value
mortgage servicing for others and to have
mortgage servicing provided to the Failed
Bank by others and related contracts.
(0) Ban Premises: Book Value
(p) Furniture and Equipment: Book Value
(q) Fixtures: Book Value

If you read all this, isn't it very obvious that the off balance figures on the JPM 10k were made public in 2014 and the closing of P&A in 2014 are related? Not the mention the 38 billion of loans which have not been repaid or liquidated returning to the FDIC receivership?

Isn't it very obvious that JPM as stated in the GSA was pure servicer for Single Family Residential loans (a.k.a. mortgages) and that checks and payment are to be remitted to WMI?

It's a done deal, of which the proceeds soon to be seen on escrows.

If you own them that is.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Also interesting tidbit from the P&A:

(f) Servicing. The Assuming Bank shall administer and manage any Asset subject to purchase by the Receiver in accordance with usual and prudent banking standards and business
practices until such time as such Asset is purchased by the Receiver.

There we have the kicker right there. According to JPM's own 10k, it is clear that from 2008-2013 there were no purchased assets. In 2014, with the closing of P&A, these assets were ultimately purchased for Book Value.

Hence the off-balance figures we saw on the R-203 document. Assets were finally purchased, and merged into JPM. That's why in 2014 we don't see any former WMB-subsidiary on the JPM Subsidiary List anymore.

And:

All transfers with
respect to Asset or assets under this Section 3.6 shall be made as provided in Section 9.6. The
Assuming Bank shall transfer all such Asset or assets and Related Liabilities to the Receiver
without recourse, and shall indemnify the Receiver against any and all claims of any Person
claiming by, through or under the Assuming Ban with respect to any such Asset or asset, as
provided in Section 12.4.


Wow, have I told you lately how much more, more, more and more I really do love my Escrow Shares?