Replies to post #490863 on Mr Cooper Group Inc (COOP)

[Donotunderstand]

correct

I do not see the money outside the LT and do not think it is there

As always - I wish all of us who got screwed a happy ending and hope I am wrong and that there is money that will flow to WMIH or to the escrows that become LT interests or ...

Question

What is the value of WMMRC as owned by WMIH after 5 years of their runoff paper ---- running off?

50 million that comes to WMIH?

[CBA09]

Ref: Our interests are in what was OUTSIDE OF THE WMI BK CASE, not what was in it, now we'll be glad to take that as well, but the MONEY AINT IN WMI BK CASE, it's outside of it in our/my opinion.

Comment:

Yes exactly -- Outside, specifically bankruptcy remote assets. Those within SPE's classified as "True Sale" securitized assets.

Simply put, "Off Balance Sheet Assets" reflects assets that WMB gave up the legal ownership rights and complete control to SPE's which in turn is owned by WMI.


WMI being the parent, it is highly unlikely the court will dispute of the final ownership of retained assets to WMI. Just look at the Facts:

1) Off Balance sheet assets are removed from WMB. (Legal ownership given up)

2) Off Balance sheet assets initially transferred / sold to SPE # 1

3) Off Balance sheet assets subsequently transferred to SPE # 2 / Trust.

4) Neither SPE # 1 & # 2 are subsidiaries of WMB but rather WMI.

5) Generally SPE # 1 is the credit enhancer within SPE # 2. Thus SPE # 1 would have ownership in the form of subordinate tranches, namely called a equity ownership.

6) Both the SPE's # 1 & # 2 along with assets and income generated within are isolated from WMB.