Mr Cooper Group Inc (COOP)

[Large Green]

ATTENTION SIGNIFICANT ESCROW SHARE ACCOUNT OWNERS!

I believe this is one of the most single important posts that can be made since most of us do not know for sure how this ends until we connect the final dots along with the official P&A closure by the FDIC. I would say this is close and MAY match what is under court seal with the only difference being the VERY LARGE NUMBERS are under the court seal showing how they divided the assets which IMHO will flow to the escrow share account owners at some point.

Keep in mind it was the SNHs who divided up the former 350 billion dollar organization between 12/2009 and March 2010. If investors do not think there is any money for escrow share account owners, then SNHs must have been very naive NOT to cut themselves into the deal. No way IMHO, they cut themselves into a great deal and all of this would be under the court seal which was signed on March 11, 2010 followed by Rosie's infamous rant about no money for equity and his new POR on March 12, 2010. What ultimately changed was who is actually on the receiving end of all this wealth and it is no longer the original Planners but EQUITY via escrow share accounts! Of course, all of this is my opinion based on following the facts of this case and connecting the dots!

I suggest for all significant escrow share account owners look at letters A through Q very carefully before going to sleep because I am sure this will make you sleep VERY well, that is unless you do not have any or very few escrow shares. Remember, to look at each point very carefully because some of these points represent VERY LARGE dollar numbers IMHO!!!
______________________________________________________________________________
Thanks goes to tanjazielman (IHUB # 400941) for an EXCELLENT Summation!

http://s3.documentcloud.org/documents/813494/jpmfdic.pdf

These releases are IMO part of a deal. A deal has to be negotiated.

The release of AAOC was not something that they would get for free. And handing over 95% ownership of WMIH for equity didn't cut it either. Not if you have negotiators like Ed Sargent and Mike Willingham at the table.

My opinion is AAOC would give a whole lot more to be rescued from a dangling sword above their heads waiting to fall down at any moment in the future.

EC got a good hand there. Insider trading charges against Hedge Funds with big clients. People would be facing jail time, and their methods would be monitored more strictly on a permanent basis. They would do anything to sweep it under the rug! The releases must be given at all cost!

If one thinks the EC didn't have a strong leverage here, one must be completely oblivious to power play.

The EC was willing to talk (and especially listen) And remember: only Willingham and Sargent sat at the table for the EC!

(Remember Susman & Godfrey's motto: "Trial by agreement")

JPM and FDIC were not present at mediation. WHICH WASN'T NECESSARY BECAUSE THE NEGOTIATION WAS ALL ABOUT THE RELEASE OF AAOC.

Also: All term sheets are under seal. PAA is still effective until end of September. And let's sum up what we have seen so far by the LT:

- Litigating Trust: 20 million used for litigation? No way man! We bring back 12 million, we don't need 20 million... "we're not gonna sue anyone!" Until today that appears to be FACT.
- Depositions and subpoena's of former employees, directors and JPM are postponed until after the life span of WMI LT. Don't believe anyone who tells you the three years can be prolonged with three years. It's not going to happen. Why? It's not necessary!
See the statement above why the LT is not necessary.
- Escrows are not an asset of the WMI LT. It's not on the books, there is no mention of it in the FAQ on wmitrust.com. But the legal definition in a bankruptcy context it is a "legal obligation to distribute assets, mostly money". Whole different beast then an LTI? And who got those? PIERS of course.
- Susman, who takes care of the claims FOR the LT, didn't bill squat.

Also look at the whole bank PAA. The one that is still effective right now. At this very moment. Until this coming September:

"13.12 Term of Agreement. This Agreement shall continue in full force and effect until
the sixth (6th) anniversary of Bank Closing" (which is until 25th of Sept. 2014, ladies and gentlemen) Which literally STATES what we end up with:
SCHEDULE 3.2 - Purchase Price of Assets (Whoa-Billions-YOU DON’T SAY!)
(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 Subsidiaries: Book Value
(j) amounts owed to the Failed Ban by any Book Value
Acquired Subsidiary:
(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
Ban by others and related contracts.
(0) Bank Premises: Book Value
(p) Furniture and Equipment: Book Value
(q) Fixtures: Book Value

PS. What I forgot to mention was these assets were supposed to go to the SNH's in POR 6 (and POR 5 maybe?). Which was probably in a term sheet between JPM/DFIC and SNH's that was also under seal. But since our collective memory sometimes gets a bit foggy, happy to help refresh it. You are all welcome!