Mr Cooper Group Inc (COOP)

[Ray_137]

Why they will give us loan? Strange conclusion.

[newflow]

o.k poo.

[lodas]

did you read the article I posted about the demise of WAMU?.....do you agree with what the article says?... I am not the subject of discussion, goodie brought up the assertion that the US government was corrupt in taking WAMU.... why do you always corrupt me and my posts as being against your expectations of monetary returns?... the article states factual events that brought WAMU down, not me... I had nothing to do with the demise of WAMU, or Project West... I just read the facts and present them to the board for reference and factual discussion....you seem to disagree with all SEC documentation, stories about the 2008 financial crisis, and want to spin some event that will not happen ....did you read about WMI dissolving WMIIC to get assets to place in the WMIL-T to fund the closure of the chapter 11?....WMIIC would have been where all the assets of WMI were held, yet it was dissolved to zero... so where is your recovery coming from?..... did you also read how equity got their shares from the 147 million dollars infused by the hedgies to include equity and preferred in the chapter 11?..... quit ragging on me , and read and absorb the contents of the documents related to the chapter 11 closing, and not how you want your personal outcome to be.......simply put, Wamu, and WMI ran out of money to pay full, class 18 claims, and equity and preferred classes were impaired from future recovery... discuss these facts, and not ME!!!!!!!.... Lodas

[newflow]

poo...lucky buyer and lucky seller too.just missed accounting 101.

[newflow]

Lo....you work for JPM?.What was PROJECT WEST?.

[jhdf51]

Thank you.

JHD

[lodas]

a blast from the past WAMU TV commercials promoting Home Loans or HELOCs everything from dental work, recreation bowling, and paying parking tickets.... these were unsecured loans made against rising equity values in property values which were rising, and the loans were used to buy toasters , tv, vacations, and general personal uses....Long Beach Mortgage sold billions in loans which were collateralized into MBS and sold to investors all over the world....my point.... the government was not the cause of WAMU's collapse, but the greed of Killinger and the BOD who ran Wamu in the dirt.... Lodas

[lodas]

https://www.pidm.gov.my/pidm2022/media/assets/RSP/4-Purchase-and-Assumption-Washington-Mutual-Bank.pdf
goodie......a must read timeline and circumstances by which WAMU fell into receivership......WAMU was Kerry and the BOD to lose, and they did... JPM just had the opportunity to be the lucky buyer when no one else could.... good reading, and share with your buddies... Lodas

[newflow]

In FAQ they expressed that they may not monetize assets sufficient to distribute to Class 19 and Class 22, but in the closing motion they mentioned they just waited for class 18 distributions to reconcile other claims(probably class 19 and class 22 disputed claims) and monetize assets.

[newflow]

KCC/COURT SHOULD HOLD W-9 INFORMATION IMO.
Ballots were submitted to Nominees (brokerages like TD) and nominees send a master ballot to DTC. DTC process those details and issue stock or other instruments back to nominee in our case WMIH shares and Escrow CUSIPs.
But to receive LTIs from WMILT, LT needed W-9 information and number of shares associated, for that WMILT requested nominees to send those ballot information to KCC as per the FAQ.
Debtors and WMILT knew that it would take a long time, so they collected those details in the name of LTIs. KCC is cancelled as WMI LT agent except few services.The players know what they wanted for the ultimate distribution.IMO.

[newflow]

I dont know what you filed 16 years ago.

[Split T]

Do you recall the weight of the shiny metal blowing out the rear tire of the pickup….2010-2011ish on the G board. lol. Many thank N

[Oberthal]

Is that the information we filled out 16 years ago?

[newflow]

No problem. "(a) KCC may have not yet received correct W-8 or W-9 tax information on behalf of
the beneficial holder. Brokerage firms have been asked to provide this information on behalf of
their clients. If you believe you have not received an LTI due to insufficient tax information
being provided to KCC, please call or email your brokerage firm and ensure that they have
received confirmation from KCC that your tax information is certified and on file."

KCC must be maintaining those records, brokerage firms such as Schwab maintain such information only for 10 years.

[CAL622003]

Thank you very much!

[CAL622003]

Thanks newflow. I've moved twice since then so just a lil concern should we be so fortunate.

[PickStocks]

There are many theories as of lately…..BTS predicts Libor will pay out….Cactus has his theories of insider information……now we have another…..it all comes down to April of something happening….by May 1, 2024 there should be either something or nothing and new theories as to why maybe 6 more months waiting or EOY 10k will reveal everything…one thing that we do know is coop is the tell and anything below 80 is a steal….

[newflow]

CAL... THIS WAY THE FIND FAQ BY WMILT c. Information to be provided before an LTI is issued
If you were entitled to vote on the Plan and submitted a properly completed Ballot
to Kurtzman Carson Consultants, LLC (“KCC”) in connection therewith, you will not
have to take any further action before your LTI(s) can be issued because a properly
completed Ballot included all requisite information. Otherwise, before an LTI can be
issued to an eligible claimant pursuant to the Plan, such claimant must provide certain
information to the Debtors’ claims agent, KCC, who will then validate the
information and provide it to the Trustee. Such information includes the name and
contact details of the claimant who shall be the beneficial holder of the LTI when
issued and tax certifications such as a W-8, W-9, etc. Additional information
regarding the information that must be provided before an LTI can be issued is
available on KCC’s website at http://www.kccllc.net/. If such information is not
provided, the applicable LTI cannot be issued by the Liquidating Trust.
https://www.kccllc.net/documents/8817600/8817600210115000000000001.pdf

[Royal Dude]

Hoping when they the brokers announce, they will give us loans until payment

[Royal Dude]

JHD It is part of the weekend process to begin the the medium term Bonds non interest notes. 1sr payment June1

[Boris the Spider]

Wwhatthe, thank you as always.
You are a voice of reason, fact, and sensibility in this sea of chaos.
Whilst your post may seem complex to some, it is an excellent summary and really quite logical and simple. I have also tried to reassure people that our escrow positions are safe and sound. They just need to keep their accounts up to date, ensure profile accuracy update beneficiaries etc.
If they received that small share allocation way back when that validates their account and is proof that they are on the list.
I believe we are close to seeing money, likely initially from Libor.
Thanks sir, and dont be a stranger.
I feel very optimistic about our chances.
Happy Easter to you and all believers.
Boris

[Large Green]

wwhatthe, while you have written several posts before, I can say from everything I know about the WaMu travesty of justice that this SPECIFIC post of yours is EXACTLY SPOT-ON CORRECT. Thank you for sharing,


...

[wwhatthe]

CAL622003

You asked a good question.

I'm only an investor but, for Sits and giggles...
I would like to try to answer your question...

How on earth would anyone ever be paid?

All IMHO...

But first, Keep in mind,
The company’s liquidating trust pays off the creditors and distributes the new company shares.

The WMI liquidating trust had 200,000,000 new shares to distribute...
And only $7.3 Billion Dollars in cash...

This is because the FDIC seized $307 Billion in assets.

When the WMI liquidating trust closed... this indicated that all the creditors were paid,
and all the new company shares were distributed.

To illustrate my point...
This is a statement from judge MARY F. WALRATH
before the UNITED STATES HOUSE OF REPRESENTATIVES COMMITTEE,

It's after the bankruptcy,
She says…
Quote,
In excess of $7 billion was distributed to
creditors and shareholders. Virtually all creditors received
100% of their claims with post-petition interest and shareholders
received stock and warrants in a subsidiary that was capitalized
with $150 million in new money… End Quote

This excerpt shows us the creditors received about $7 billion Dollars and shareholders received new company stock.

The quote says,
“was distributed to creditors and shareholders”

But we're interested in,
How or in which way was that distributed?

So,
Let's start here,
This is from pdf page# 355/755 of the,
DISCLOSURE STATEMENT
It is about our tracking markers or contra-CUSIP positions.
It’s also about our escrow positions and the Depository Trust Company... (DTC)

Quote…
…The Trustees may conclusively rely upon the distribution instructions received from the debtors or their agents with respect to contra-CUSIP positions and escrow positions set up by the Debtors or their agents with the Depository Trust Company, and the Trustees shall close and terminate the original CUSIPS after making initial distributions of Creditor Cash and shall have no further distribution obligations thereafter…
End quote

Here where it says,
“may conclusively rely upon the Distribution instructions received from the debtors or their agents with respect to contra-CUSIP positions and escrow positions set up by the Debtors or their agents with the Depository Trust Company”

They are talking about our escrow position which according to the above excerpt, was set up by the Debtor (the company).

Every class has an escrow position... Every class has a Trustee.

The company had your information on record,
and because of the bankruptcy... it was used to set up your escrow position with the Depository Trust Company.

If you own your shares by street name... which means your shares are registered in your brokers name on the company's books... Which most do.
So, if you purchased your shares through a brokerage firm, they have your W9 tax information and would know how many shares you had.

Or,
If your shares are registered in your name on the company's books.
They know how many shares you had, but you may have had to provide a W9 tax form.

Either way, the company and TDC would have your name and information... including the use of your W9 tax information from your broker.

Our escrow positions... is because...

When you purchased shares in WMI, you created an equity position in WMI (the company).
When WMI filed for bankruptcy your equity position... also became an escrow position.

It's,
The Debtors (the company) or their agents who set up our escrow positions with the Depository Trust Company.

IMO... Not if, but when,
Anything comes back the Depository Trust Company has all the information they would need to make a distribution.
It would be the same as when it was done for the creditor’s cash, and our new company shares.

The contra-CUSIP number is assigned by DTC for use in reorganization activities, such as distributing company shares or cash.

For example, from the plan,
Some elected to receive shares...

So, some common and preferred shareholders received new company shares and were owed shares from the Disputed Equity Escrow Account.

So,
The Depository Trust Company knows if you are allowed to have shares or not...
That's because of the distribution instructions it received from the debtors (the company).

A contra-CUSIP number was used to distribute the 200,000,000 new shares.

Likewise,
The creditors were owed $7.3 Billion Dollars in cash.
A contra-CUSIP number was used to distribute the cash.

All from the Depository Trust Company with instructions from the debtors (The company).

The contra-CUSIP position is temporary... once the shares and the cash are distributed the numbers are no longer needed and they are removed.

Again,
The company’s liquidating trust pays off the creditors and distributes the new company shares.

There were 200,000,000 shares...
And only $7.3 Billion Dollars in cash...

When the WMI liquidating trust closed... this indicated that all the creditors were paid,
and all the new company shares were distributed.

Now,
Our focus should be on the FDIC’s $307 Billion in assets...
Because if the creditors are paid, then everything the FDIC has is equity and it belongs to the shareholders.

To illustrate this point.
This is from one of the SETTLEMENT AND RELEASE AGREEMENT’s

keep in mind,
WaMu is the Bank... and the Bank is owned by the WMI shareholders.

Quote,
FDIC-R succeeded to all rights, titles, powers and privileges of WaMu, including those with respect to its assets. Among the assets to which FDIC-R succeeded were all of WaMu's claims, demands and causes of action against mortgage brokers that originated mortgage loans for WaMu.
End quote.

The FDIC is a Conservatorship and Receivership...
As Conservatorship the FDIC protects the individuals and their estate.
As Receivership the FDIC preserves the value of the property.

The Estate and property are owned by the WMI shareholders.

One more about the FDIC...
This is from one of the court documents...

Quote,
“In its role as receiver for a failed depository institution, the [FDIC-R] has a statutory obligation generally to maximize the return on the sale or disposition of the receivership estate’s assets. The receiver distributes any funds realized from its liquidation efforts to the failed institution’s creditors and shareholders in accordance with the FDIC’s priority scheme.”
end quote.

So, the FDIC-R, sells the WMB’s assets and distributes the funds in accordance with the FDIC’s priority scheme…
Which is also, the distribution procedure and priority in the Plan on page 141 of the D/S…
And would also use the Depository Trust Company.

Keep in mind the creditors have already been paid by the WMI liquidating trust.

Also,
The FDIC is not a for-profit organization It's independent.
Their primary mission is to maintain stability and public confidence in the banking system,
The FDIC doesn't have shareholders or owners who receive profits... So, they do not generate profits. The FDIC is funded by premiums paid by insured banks, not by selling goods or services.

I know this post is getting long...

But,
Let's add this statement from JPMorgan Chase.

Because they purchased these assets from the FDIC-R...

Here in a statement Dated, Jan 13, 2010
JPMorgan Chase, Testimony before the Financial Crisis Inquiry Commission.

JPMC states…
With the acquisition, we purchased approximately $240 billion of mortgage and mortgage related assets… with $160 billion in deposits…. and $38 billion in equity… We immediately wrote down most of the bad or impaired assets (approximately $31 billion) …. and established proper reserves for the remaining assets, ….as well as for severance and close-down costs.

So,
To answer your question...

How on earth would anyone ever be paid?

Our escrow positions were set up by the Debtors or their agents with the Depository Trust Company,
The Depository Trust Company received Distribution instructions from the company... including your W9 tax information it had from your broker... we don't have to do anything but stay updated with our brokerage firm.

And,
We don't get paid for our escrow shares/markers...
We get paid for our Escrow position.

Sorry for the long post...

All IMHO...
Good luck to you.

You may also be interested in my post #720961
"We don't get paid for our escrow shares/markers... We get paid for our Escrow position"

Thank you for reading my post.
Stay safe… Stay healthy

And of course,
Just my opinion, research, and curiosity…

Wwhatthe

[PickStocks]

Now we have predictions from BTS, RD and Cactus that distributions happening soon…let’s see who kicks the can down the road and April passes with nothing happening

[novascotiaSTS]

Just another of RD’s many failed predictions

Surprisingly enough the DTCC’s amended settlement procedure because of the Good Friday holiday had nothing to do with Escrows.

Who could have thought, right?

[user7770]

Thanks for letting us all know where you stand. 0% credibility.

[jhdf51]

In layman's terms what is this? Thanks!

JHD

[sillyinvestor]

Lodass doesn’t have a clue, probably doesn’t even recall the Fed window being closed to WaMu, while Tarp was saving the “connected” banks. He’s another NPC swallowing everything the govt tells him. I don’t even know why he’s in COOP.

Put him on ignore.

[BBANBOB]

GOODIE

This person is SO OUT OF TOUCH it is unreal

"""WAMU did not go into receivership because of a fraudulent government in this country, but by the malfeasance of the prior executive officers, and BOD"""

I CALL BS FIRST as you suggest it was an ORCHESTRATED WITH DRAWL of funds by the 10 HORSE MEN JPM had aligned with to buy the bank by taking their funds out.
2. THE OTS ( THE BOSS OF THE FDIC) told the FDIC NOT TO SEIZE WAMU.
3 JPM being at a tier level rating of 3.4 at the time and WAMU being at 7.4 JPM according to FDIC rules JPMC SHOULD NOT HAVE EVEN BEEN ALLOWED TO BID ON THE BANK AS THEY WERE IN TROUBLE.

Any that can not se this are deceiving themselves and are attempting to do the same to others here

IN OTHER WORDS THEY ARE FULL OF CHIT


NOW IF ANY QUESTION an orchestrated with drawl of funds was NOT ORCHESTRATED tell me WHY THERE WAS NO LOOKING INTO EXACTLY WHO took the 16 mill out of the bane, it would be easy to find out just exactly who they were

THis person just bait you all to respond, SO STOP and he will not be seen nor heard, nobody is gonna change his spew so stop listening and responding to it

[goodietime]

"WAMU did not go into receivership because of a fraudulent government in this country, but by the malfeasance of the prior executive officers, and BOD"

Well the 'mysterious Bank run' and NOT being on the Do Not Short list was not caused by the BOD or Officers.

The fraudulent Government aided and abetted the WAMU takedown/theft.

[PickStocks]

Let’s just see what April brings before kicking the can down the road…

[newflow]

And you are chewing it on 24x7 and don't like to move on because you like it?.

[newflow]

Great explanation about Trusts https://apiexchange.com/articles/legal-and-tax-update-v12-trusts-and-1031-exchanges.pdf

[lodas]

why should I move on?.....I make a contribution to this board with bona fide SEC documents with links supplied...I do not speculate, nor prognosticate events, or move goal posts as others do on this message board...so far, no one expecting recovery has posted one link to any documents that promise this recovery...its all speculation, and hype, and putting posters on ignore who post other wise ...finally, if I would move on, I would want an apology from those who have desecrated my character by calling some of the most vile names, which were not called for by so called civil people....I suggest that you move on if you have nothing to offer this board except speculation and hope... Lodas

[newflow]

lo... you are right, move on.

[newflow]

GREAT VIDEO ON TRUST ADMINISTRATION

[lodas]

Boris?....why not get your DD from approved SEC documentation as submitted by all parties involved with this WAMU, and WMI saga....?.....hoping and invoking the deity will not result in the resolution you have been seeking.......only that which was agreed to by settling parties to all cross complaints....there is no obligation for WMI, now defunct, to give the estate to old shareholders in settlement of any prior agreements that you, and others harbor.... WAMU did not go into receivership because of a fraudulent government in this country, but by the malfeasance of the prior executive officers, and BOD....I suggest that you read the 2013 WMIH 10-K as submitted to the SEC 11 years ago for factual data concerning your quest...everything in that document was adjudicated by the courts, and signed into law... nothing that you post will change the outcome, except a lawsuit implicating all players in this bk settlement for fraud....Lodas

[Boris the Spider]

Next two weeks are crucial for escrows.
If we dont get a settlement by 4/14 we likely won't until Oct. It's hard to believe Dimon would want to file depositions with the court now. Why would he? Would be stupid. He's hanging a pretty big matzo ball out there if he lets this go past 4/14. But arrogance can make you do some pretty stupid things so who knows? Personally I'd love to see him in an orange jumpsuit. I think Judge Naomi is the type of judge that could do it to. At 80 yrs old I'm sure she's sick of the evil and corruption that is so pervasive now in this country. This case will be her legacy. Hoping God guides her to a just decision.

[Bizreader]

September 2024 is the latest date mentioned.

[lodas]

banks were not harmed by fake LIBOR rate setting... the FDIC was harmed, thats why they instituted the lawsuits on behalf of the banks...... how was the FDIC defrauded?....The FDIC insures the liabilities of the banks balance sheet in case of a banks failure, and since the elevated interests costs by fake LIBOR rates ballooned banks liabilities, the FDIC was OVER INSURING the banks liabilities and not collecting the commensurate fees they charge the banks for this purpose....equity investors in major banks were not harmed when the banks made loans at higher interest rates, the borrowers making loans were....THERE WILL BE NO RECOVERY FROM LIBOR SETTLEMENTS THAT WILL ACCRUE TO HOLDERS OF WAMU COMMON OR PREFERRED INTERESTS.... the common , and preferred stock was cancelled, extinguished, and all rights associated with the prospectus is null and void... the chapter 11 was settled 12 years ago with releases signed by former holders of equity interests, which allowed WMI to cancel shareholders values in the stock....Lodas

[newflow]

US LIBOR Transition Timeline for Debt Securities
https://www.dtcc.com/-/media/Files/Downloads/Settlement-Asset-Services/Issuer-Services/DTCC-LIBOR-Cessation-Roadmap.pdf

[stoxjock]

The 4/14/2024 Date is not that far off...Let's see if all these 'expectations' pan out or we find out that we have been Duped again by the FDIC from paying us the "F&R Promised" and this 'LIBOR Litigation' delaying our "F&R Payment" is just a 'Chimera'...

[Royal Dude]

This is happening to to us today. The beginning of the end for our settlement. Have a great Easter week, The Lord is with us

"NSCC reports, and Machine-Readable Output (MRO) affected by this change include:
The Seg. Exemption processing referred to in this important notice is for an exemption instruction
processed by a Member to NSCC that overrides their CNS standing instruction on the NSCC master
file. For Members who use DTC’s Inventory Management System (IMS) to process exemptions, please
see DTC’s important notice schedule regarding Good Friday processing to determine their schedules
in effect."
https://www.dtcc.com/-/media/Files/pdf/2024/3/26/a9411.pdf

https://www.dtcc.com/-/media/Files/pdf/2024/3/28/MBS1316-24.pdf

[BBANBOB]

DARKB

We'll see

[DarkB4Dawn]

$75 on a single share trade. Meaningless. Same if I paid $84 dollars for a single share.

[BBANBOB]

From another board



"""....the cross appeals are BAFFLING....???.....something is definitely getting the full review.....dangerous, but probably GOOD FOR US.....???......

...the pundits are speculating that those perp banks are getting added back, or directing us to amend the original petition and basically recast the case...???......

....ALWAYS THE RISK THAT UBS WINS AND GETS THE sonterra/LIBOR STERLING case tossed out, on a legal loop-hole technicality......????....... """

[BBANBOB]

Have a GOOD ""GOOD FRIDAY"" and EASTER

Remember the reason for this HOLIDAY and WHAT IT IS REALLY ABOUT

GET ON YOUR KNEES and THANK HIM for what HE DID for us.

Ifin you have lost him in your daily lives, BRING HIM BACK as we need his help desperately in these time

[jhdf51]

Well, I only say what my heart believes to be true. I muddled my words as a young man due to some anxieties. I no longer fumble that football.

JHD

[Boris the Spider]

Hold2wm on bp feels we may see Libor any day now. 208b is his guess. That would give wamu about 100b. Maybe more.
Lets see what happens.
Pray. Happy Easter.

[UpTickMeA$AP]

Thanks for signing your post "JHD". Without it, I wouldn't know who it was.

😂