Mr Cooper Group Inc (COOP)

[bkshadow]

From MBS, to PCI Loans, to ....

tanjazielman Monday, 07/21/14 06:48:33 AM
Re: WithCatz post# 402055
Post # of 402070



Quote:
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The FDIC hasn't even made it past the $1.9b that JPM paid. Not a dime has reached the $3.2b due to WMB bondholders. So much of the hypothetical is mute. Unless you believe that $10b is coming in somehow.

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I believe this quote amount is generous. Look at the liabilities on the Balance Sheet and look at the Creditor amount supported below. BTW, call the LT and ask if WMILT has an existing "creditor certificate" in that amount. I know the answer, but give it a try.

tanjazielman Monday, 07/21/14 06:48:33 AM
Re: WithCatz post# 402055
Post # of 402070

This is not so hard to explain, considering THE SALE IS NOT FINALIZED YET.

Whole bank P&A, 25th of September.

Other than "indemnity claims," per the P&AA, the only claims not on the above FDIC-R Balance Sheet are JPM claims and Deutsche Bank litigation outstanding. Those that purport that the WMB status "as a creditor" to the FDIC-R (not recovery claims, litigation claims, etc.) in the ABANDOMENT ORDER, are gone on the effective date (they were open from the abandonment date to the effective date only).

http://www.fdic.gov/about/freedom/wsj-responsiverecords.pdf

http://www.fdic.gov/bank/individual/failed/wamu_amended_complaint.pdf

tanjazielman Monday, 07/21/14 06:48:33 AM
Re: WithCatz post# 402055
Post # of 402070

And it doesn't matter if there is a surplus of assets in WMB or WMfsb. Any surplus comes to us (WMB bondholders first)

HUH?

It appears there is still some back and forth on JPM not buying all of the WMB (and Subs) loans and servicing rights, although every aspect is clearly reported in the SEC filings and the Audited Financial Statements of JPM from 2008-2013, there are references to the P&AA that are being missed; the P&AA clearly identifies all loans and, if you look at the following, all servicing rights.