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Yada, yada yada! COOP PPS right now is down to $36.64, that's about half of your what your touting at $71.00. That $36.64 is nearly $20.00 under book value. No one is buying what your selling. We will not see $50.00 for at least a year or more.
The Pending RICO lawsuit filed against Jesse K. Bray, Chris Harrington and the several Mr. COOPER Group Subs is going to haunt us for a long time. If it goes to class action we are going to pay the price big time. WAKE UP!
Jay Bray was quite sneaky and very deceptive in his amended and modified 10b5-1. He knew exactly what he was going to do. He said he was going to sell 10% and has exceeded that nearly 5 fold if he has sold 46,0000 shares monthly since last August. His money is being put in trust so he doesn't have to report what he is actually investing in.
Don't be surprised if COOP buy the Companies he's involved with in the future. You do realize if "COOP" is sold or merged he will collect a $30,000,0000 dollar bonus.
Jessie K. Bray has 30,000,000 million reasons to arrange a merger or buyout or change in ownership and then walk away. Look for it to happen within the next 18 Months. I'm thinking 1st Quarter 2023.
Thanks Ron for the detailed summary.
Split T
"Plan 7 LT function and accounting is well documented as to its responsibility to the Creditors. P7 LT satisfies the Courts requirements to pay Creditors. P7 has fulfilled its purpose!
The Equity Community asked the Court permission to take control over the AAOC P6 LT as recored in the transcript. which was granted. I have posted the links and PDF pages. P6 did not require Court approval because the distributions stopped at AAOC’s and others Creditors claims.
AAOC P6 LT was created to protect assets and “hide the Sausage” from equity. Just like K-Mart did by minimizing assets values.
What’s in AAOC P6 LT managed by WK?
WMB Receivership Claim.
Non-Debtor Subs listed above.
WMIIC ABS/RMBS Distributions.
Other ABS/RMBS Distributions
Retained Earnings 75/25%.
Were did WMI Holdings Corp (Inc) go? 3 Wands.
++? 365 Sales of Leases! Was WMB leasing property from WMI? I say yes. See DS and footnotes for both WM Citation and H.S. Home Loan."
Hey Ron, This is quite interesting, do you have a link to this information?
"The WMI Non-Debtor Subs that were placed in the Plan 6 LT by AAOC are now Active as of last year by WK and CS. DL is not listed in the activation documents. So leave DL alone!"
wwhatthe, I always enjoy your take on WAMU/ WMI. It appears the LT finished their winding up, the facts should become apparent when they finally come clean...when is the Question.
I say they should no longer be able to hide the sausage after Dec. 31, 2022. The longer they wait, the higher the cost is of paying newly issued debt. Maybe that's what the Hedge Funds want.
This last 75 Basis Point increase in the Fed Rate was biggie. Will they wait until the Fed. Declares it's last increase of the year to pull the trigger? Maybe so!
Split T
It's a crying shame that the PPS has skidded back to where we were 9 Months ago. There is no real leadership, only those that look out for themselves.
Mr. Cooper Group is Named one of the Best Workplaces in Texas™ in 2022... Wonder what the just fired hands are saying now!
StrikeEagle. I became a licensed Real Estate Agent in 1972 and became a Real Estate Broker in early 1974. I began building spec. homes in in 1975 and put in my first of 36 Subdivisions 1976... I retired 7 years ago. I have seen it all a few times over. These are the times that separate the boys from the men. Damn right, Cash is King.
It is difficult to wrap my head around COOP at this point in time due to the extreme manipulation of the PPS. Makes no logical sense to me, but yet there are many players attempting to get shares on the cheap. This may be one of the most interesting Quarters when it all plays out. The dogs are sniffing, do they have a sent on the hidden sausage?
"COOP is so manipulated, and it should be a screaming buy.
Look at the fundamental's = https://finviz.com/quote.ashx?t=COOP
P/E = 2.08
EPS = 18.95
EPS THIS YEAR = UP 418. %
OPER. MARGIN = 57.50%
PROFIT MARGIN = 48.80%
SHARES OUTSTANDING - 73.86 M.
CASH/SH. = 7.51
BOOK/SH. 53.83
My guess is COOP will go up after Fed interest hike estimated at 3/4 point
Also, as per management each 1/4 point increase in interest Nets them an extra 200 Million
Good time to buy/add! IMO!"
redisnieurt, Once again you are a voice with a meaningful message of no nonsense. I wait, you wait, we all wait. Thanks for your succinct post.
Split T
"I dont think they buyback anymore until the economy stabilizes. They should be managing capital VERY closely.
The origination business is likely to have an operating loss (again, you can only reduce fixed costs by so much), and if the economic conditions result in soaring delinquencies then Coop will have to manage all that extra "touch time" with the borrowers (for no extra fee) and ALSO need to provide servicing advances to the investors, taxing authorities and Insurance companies.
Servicing advances basically mean a borrower doesnt make their payment, but Coop is still required to remit back to the investor as if the borrower HAD made a payment.
I think if you had a few pieces of information about the MSR portfolio and then made a range of assumptions about delinquency rates you could estimate the dollar amount of servicing advances COOP would need to make and then figure out when they would burn through their available cash. In fact, I'm sure they are working on this as we speak, and so is every stock analyst that is covering COOP.
In the end, Coop will be made whole. But in the meantime, they need enough cash and liquidity to weather the storm.
they will NOT buyback using excess capital before the "storm" has passed. That could be a fatal mistake."
Fed raises rate 3/4 %!
federal-reserve-lifts-interest-rates-in-first-triple-sized-rate-hike-
https://www.msn.com/en-us/money/markets/the-federal-reserve-lifts-interest-rates-in-first-triple-sized-rate-hike-since-1994-e2-80-94-driving-mortgage-rates-and-borrowing-costs-even-higher/ar-AAYvisU
redisnieurt, you nailed it. My sentiments mirror yours. Thanks for telling it like it is!
"I assume people realize that the loan origination volume is going to absolutely tank for ALL mortgage companies, and Coop is not immune. If it isn't already happening, Coop will SLASH is workforce in an effort to right size capacity with dwindling demand, and Coop will struggle to generate enough revenue to cover the fixed costs of the mortgage business.
Coop WILL pick up the MSR valuation gain from the impact of rising interest rates, but it will not be 200M for every 25 bps. We saw that theory get debunked last quarter. It's not linear. A 25 bps increase when the rate is 2.5% is alot more impactful that a 25 bps increase when the rate is 4.5%. But nonetheless, the will be a valuation gain, although prudence generally dictates that MSR valuations are usually hedged....
Also, lookout for increased Operational costs for the servicing business as inflation puts the squeeze on borrowers and will drive an increase in delinquencies and rising rates crush people with adjustable rate mortgages. Delinquent loans take probably about 20X more "manpower" to manage than a performing loan.
If you rode COOP this far, it may makes some sense to stay in. If you think COOP is just going to bounce back up to the 50s and you are counting on solid earning to be the driver.... well you may want to rethink that. I think Coop will still be profitable and hence the TBV per share will continue to tick upwards. And when the next cycle kicks in, we will see a steep recovery to where Coop is trading just around book value. If you like to buy on the downturn, then you getter have some dry powder. Once people realize that the origination biz is toast, they will bail out of this.
Banks that are "mortgage banking heavy" will experience this exact same problem. Their revenue stream will dry up quick. Banks that do more short term lending with a low cost of deposits will CRUSH it over the coming quarters due to the Net Interest Margin spread increasing."
Woody , Pipers two largest stockholders are BlackRock and Vanguard, together they own 20%+-. IMO Keven Barker has always publish his take to assist pipers largest clients and shareholders. They are the deadly duo that control hundreds of stocks together. Their Ties to the White House are down right scary. If I recall correctly, BlackRock was charged by the Fed. last year to Manage many assets under the Feds jurisdiction. Possibly just another JPM in sheep's clothes. Between BlackRock and Vanguard they are the new wreaking crew. I've got an idea that the option plays of COOP are directed by them presently. They have many hedge funds doing their dirty work IMO. You, of all people, who has watched the MM's manipulate the Price of COOP, etal should see the massive new front lineup being put forth in the Options just in the past 30 days. These Boys are frothing at the mouth and lying in tall grass like lions waiting to sink their claws into our behinds the first chance they get. If new shares are issued there will be blood in the street and it will be the shareholders doing the bleeding. Thanks for keeping a watchful eye out for us these past 14 years. Kudos to you.
Split T
Large Green, Thanks for the information of the FEDs normal release of information at 2:15 CST tomorrow. It will be a wild ride tomorrow as many already know what is going to be announced to us peons. The COOP Option Players will create a WILD trading session tomorrow. The spread will be a wide gap IMHO.
"NORMALLY, the FED announces their interest rate decision at 2:15 Eastern Time, concerning interest rate rise or not and how much."
Total revamping of the Options...Pick your price ,half a dollar at a time. COOP Option players have really ramped up and are playing some huge numbers. New shares coming IMO and the players are lined up to get yours. Then we have the FED for the next two days deciding if they are raising it 50,75 or 100 basis points. With the number of additional option players here, I say 100 basis Points. Been there, done that several times in my 80 years. Makes it tough on every one. The next two days the pps of COOP will continue to sink. If there is a bright side it will be reflected in the Mark to Market. The picture of COOP won't be all doom and Gloom for the 2nd Quarter. I expect to see a rabbit jump out of a hat before the end of the month, but we may not know about it until they see the advantage of an 8-K or the results for the Quarter and our June 30th year end Report is revealed. I'm not sure what time on WEd. the Fed will make an announcement. surly it will be after hours as during hours we will see blood in the streets, but that may very well be their intent.
seafino1, Coops price is hampered for the very reasons you point out. Shortly we shall see if the PPS of COOP goes up with the perceived and touted view of of the Board due to Xome's projected Business and Income. For sure, COOP"S origination's will be way off as higher interest rates and the exorbitant price of houses, food and fuel will dee to that.
Bban, COOP's PPS and earning are hampered for several reasons including commodities and fuel. Our system has spiraled out of control due to stupid decisions by our inept leaders. Here is an interactive fuel price chart which gives exact prices weekly. Fuel affects every thing we buy and will not be going down anytime soon. I'm appalled at the price of groceries and fruit and vegetables. You can't pick up a piece of fruit that isn't nearly a dollar a piece. COOP's PPS should be higher for sure, but new home sales are slipping and people cannot afford new houses, food and gas at these ridicules prices. Wages are not keeping up with the price of actual inflation. COOP as well as others have a tough road to hoe.
https://www.eia.gov/dnav/pet/pet_pri_gnd_dcus_sca_w.htm
Only time will tell the fate of Xome and how it affect COOP PPS. With BlackRocks appetite for buying large amounts of foreclosed properties for rental , actual owner occupants might not have a chance to buy. There is always a loop hole....
" NCST does this by facilitating sales of distressed homes to community-based partners, providing technical assistance and capital for single-family rehab, and conducting federal policy advocacy grounded in knowledge of local housing markets."
They are not sell it. Period! We are at $43, No way that we are going to see $50 anytime soon, $70 is laughable at this point.
"COOP could be $70+ instantly when they successfully sell their Auction Exchange..."
Yes, and the same Piper / Kevin Barker/ gave us a $7.00 rating not long ago while other analysts were over $$20.00. I have no trust in any thing he puts out. After all, BlackRock and Vanguard are the biggest Stock holders of Piper and Mr. COOP. Kevin is their front guy helped them to pick up several Million Shares off the back of hard working Retail shareholders.
UPDATED $COOP price targets: Piper Sandler:$71, Wedbush:$60, BTIG:$60, Credit Suisse:$59, Barclays:$44
Mr. Cooper Group (NASDAQ:COOP) Price Target Cut to $44.00 by Analysts at Barclays.
According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.40.
The lipstick is on the pig @ $71.00. They can have 100K shares @ $60!
ItsMyOption, Thanks for sharing your experience with the whole board. I have been curious about Options for a long time and had the shares to play them, but I only play in areas where I can maintain an Ace in the Hole. That area is Land Development. A smart buy always come back to location, location, location. If it's desirable, they will come!...eventually. lol
Municipalities with sane policies, morals and real leadership are a must. The same is said for great Companies!
I have no doubt that your ability or tenaciousness will have you back on top in no time. Everyone has been screwed at one time or another, smart people always find a way to come back from adversity. I've got as much faith in you as I do myself. Best of luck .
Split
It's My Option, If you should decided to get an SEC Attorney please let me know.
Woodie, I don't recall seeing weakly options before, but one thing is for sure. Some one big wants our shares and will attempt to get them any and every way possible. The tragedy that happened to It's My Option in getting his 40k+ shares sold by his Broker on a Margin technicality shows you we are dealing with some slick people. News will be coming to a couple of them shortly from the SEC.
"They are going to drive this down below 38 to 37.
Again the short positions we as shareholders need to get this question out there!"
OH, no hurry to buy, ARCA is going to bring it down a bit more. But not to worry, our book value is going to save us and the market as a whole.
Woodie, I believe that MM ARCA represents A-hole in one LLC as well as other off shore fetish Investor groups. You are quite correct in your post. COOPS options should be examined to get a fuller understanding of the Play.
But, but, Jhdf51, Coops Book Value is over $50.00, why can't the market understand that? The PPS must go up as the interest rates are now 5 1/4% and going up. What's not to like about those facts? lol
No one should worry or pay attention about their account gyrating 50-100K daily, Huh? Ain't it great to be a holder of COOP stock and have untold confidence in Management? Median housing costs ares up 19%...go COOP Go!
"One great day makes no difference when the other day takes us right back down...lol"
JHD
JHD, here are my thought on COOP/ Mr. Cooper Group as something is terribly wrong when the Management of COOP Sells an Asset for $500,000,000 and then chose to retain a 9.9% interest valued at $50 Million Dollars and then less than 1 year later that value is reduced 83.11% to approximately $8,445,000.
That takes a negative toll on Shareholders Equity by about $41,550,000 or
$0.56 per share. This has cost many of us tens of thousand of dollars.
Blend Labs Inc - Class A
As of May 19, 2022 • 2:59 PM CDT
NYSE: BLND
3.53USD
-17.37(83.11%)
Large Green, I certainly agree with your time line and I would go so far as to say that right before the release of the 2nd Quarter earning would also be a possibility. We may get a hint shortly as this will be a major event if you/we are correct.
Hey Austin, Of course Cooperman realizes that the more capital one has the more that they can control their own destiny by leveraging their assets. He has no problem with Escrow holders, when Escrow is rewarded his show actually starts, untold new capital will be put to work and pump out obscene profits. What's not to like? IMO Cooperman is a bright individual and has the patience and insight to wait it out.
"IMO, this is very positive for COOP. It would be interesting to hear Mr. Cooperman's take on the escrows situation. I wonder if Omega Advisors would benefit from an escrows distribution."
Watch out for the Upcoming Gaps? Sigh!
COOP is right at 30% below book value, yet you think Xome is going to make you rich. That is freaking hilarious. There is a very good chance we will close below $40 tomorrow.
Make up your mind Please! You tout they are going to sell it on one hand and then on the other hand they are going to grow it.
It's not Ripe yet! There is a long ways to go to reach the past value of 2009-2013.
Why you can't you understand this simple truth is beyond many people's understanding!
jhd51, losing your beautiful and faithful companion and being pissed at COOP's BOD for playing with the price is understandable. My sincere sympathy and condolence is offered to your family for your tremendous loss.
Xome is still blue sky, short and simple! The platform has got great potential, but it's far away from the actual attainment of its potential value.
COOP's PPS will rise in relation to XOME growth and related income which is not being exhibited at this time. It may climb steadily or have a substantially jump depending on what positive PROOF COOP reveals in the FUTURE.
All talk and no action over the long haul means little to the PPS of COOP rising.
You have hit the nail on the head!
"I do believe XOME has great value. However, I don't believe that value is going to be realized in the next 3 years or so. Once the (IMO) impending real estate market crash comes and starts to climb out of the gutters, XOME will be a much more attractive asset."
Xome, is not anything like it was in it's hey day of 2009-2014 and it certainly is not worth even $500 Million at this point.. Outside influences keep it from growing, mainly the government not allowing foreclosures to happen,and when they do it will be a slow slow process though the Courts in many of the states. Many loans were reworked so that drastically cuts down on foreclosures. The conditions for growth are not there yet!
JHD, It falls right in line with a discussion on COOP's PB board. It is my belief you will be receiving JPM shares soon.
The present COOP Share Count according to Nasdaq is74,680,298. I believe that COOP Share Count will be down and will be reported on the Earnings Call.
News Flash! There is a huge difference in the world of Finance between real earnings and a Market Mark Up with lowered performance in the actual business.
Dropping the PPS and then bringing it back to where it was with a Billion dollar Mark Up is BS in the real world.
Bban, that was my point! A mighty big difference in the book value is being pushed right now.
Our shares price is where it should be at this particular moment. Blue Sky is BS.
The world economy and recent events are playing into our PPS along with a dramatic event that is getting ready to take place. At this point not one person can accurately predict the near future of COOP PPS.
Put this in your peace pipe and smoke it. A major event is about to take place in the world of Fiance.
Important Notice Fixed Income Clearing Corporation - MBSD Q MBS #: MBS1073-22 Date: April 11, 2022 To: Mortgage-Backed Securities Division Participants Category: Membership Updates Subject: J.P. Morgan Securities, LLC [JSDG, JSDH, JSDI, JSDJ] –Activation J.P. Morgan Securities, LLC has been approved for four additional full Netting Services accounts effective April 25th, 2022. The new account symbols will be: JSDG, JSDH, JSDI, JSDJ All trades with trade date of April 25, 2022 and earlier should be submitted for comparison on April 25, 2022. Beginning April 26, 2022, all trades are to be submitted for comparison on a trade date basis. Questions regarding these activations are to be directed to Juan Dottore (212) 834-6436 of J.P. Morgan Securities, LLC.
https://www.dtcc.com/.../Files/pdf/2022/4/11/MBS1073-22.pdf
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