Mr Cooper Group Inc fka COOP

[Large Green]

Thank you AZcowboy for your truthfulness, dedication, integrity and honesty in search for the truth as this gets more and more exciting every month that goes by for escrow share account owners.

WARNING - THIS COULD BE HAZARDOUS if ONE HOLDS FEW/ZERO ESCROW SHARES!

HAVE I TOLD YOU LATELY HOW MUCH I LOVE MY ESCROW SHARES?

Part one;
Procedurally, JPM Did Not Gain Total Ownership ...

... JPMorgan DID NOT' gain ownership of all of WMI's (the parent) assets at the FDIC seizure ... Primarily the WMI Loan Portfolio .. JPMorgan DID' gain the servicing rights to WMI's Loan Portfolio ... This IS substancially different ...

The following is from WMI's own SEC Filed report;

WMI (the parent) Operating Segments

"The Company has four operating segments for the purpose of management reporting: the Retail Banking Group, the Card Services Group, the Commercial Group and the Home Loans Group. The Company's operating segments are defined by the products and services they offer. The Retail Banking Group, the Card Services Group and the Home Loans Group are consumer-oriented while the Commercial Group serves commercial customers. In addition, the category of Corporate Support/Treasury and Other includes the community lending and investment operations; the Treasury function, which manages the Company's interest rate risk, liquidity position and capital; the Corporate Support function, which provides facilities, legal, accounting and finance, human resources and technology"

Off-Balance Sheet Activities

"The Company transforms loans into securities through a process known as securitization. When the Company securitizes loans, the loans are usually sold to a qualifying special-purpose entity ("QSPE"), typically a trust. The QSPE, in turn, issues securities, commonly referred to as asset-backed securities, which are secured by future cash flows on the sold loans. The QSPE sells the securities to investors, which entitle the investors to receive specified cash flows during the term of the security. The QSPE uses the proceeds from the sale of these securities to pay the Company for the loans sold to the QSPE. These QSPEs are not consolidated within the financial statements since they satisfy the criteria established by Statement No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities . In general, these criteria require the QSPE to be legally isolated from the transferor (the Company), be limited to permitted activities, and have defined limits on the types of assets it can hold and the permitted sales, exchanges or distributions of its assets."

When the Company sells or securitizes loans that it originated, it generally retains the right to service the loans and may retain senior, subordinated, residual, and other interests, all of which are considered retained interests in the sold or securitized assets. Retained interests in mortgage loan securitizations, excluding the rights to service such loans, were $1.23 billion at June 30, 2008, of which $1.13 billion are of investment-grade quality. Retained interests in credit card securitizations were $1.56 billion at June 30, 2008, of which $421 million are of investment-grade quality. Additional information concerning the pretax gains, cash flows, servicing fees, principal and interest received on and valuation of retained interests and loan repurchases, in each case, arising from the Company's securitization activities is included in Note 7 to the Consolidated Financial Statements – "Securitizations" in the Company's 2007 Annual Report on Form 10-K/A. Additional information concerning the revenue and expenses from the sales and servicing of home mortgage loans, including the effects of derivative risk management instruments is included in Note 8 to the Consolidated Financial Statements – "Mortgage Banking Activities" in the Company's 2007 Annual Report on Form 10-K/A. "

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6093324
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Part two:
WMI, (the parent) had substancial assets ...

including at the time of seizure, some, .. 24.375 billion dollars worth of Certificates still waiting to be sold (product on the shelf) when the September seizure occured ... Placed under the procedural guidance and protection of the FDIC - R' ...

(please' see my previous post, the link is provided)

WMI, (the parent) had been issuing Mortgage Pass-Through Certificates, as income generating vehicles, for many years, I only went back as far as 2002, and saw more than enough to satisfy my own curiosity ...

.... JPM did not get everything given' to it at seizure Sept 2008 .... due to the fact that it was simply, not the FDIC's to give' ....

.... During the court ordered mediation, the (snh's) gave up on their potential gamble' .... Had the "Litigation Morass" .... moved forward (which isn't what anyone wanted at the time) .... equity had requested of the court, ... "an equitable subordination" ... HOWEVER' ... the Court stated that they, (snh's) were gambling with the possibility of "equitable disallowance" .... if they lost? ... they were out' ... clean & simple

... Kind of a huge difference' ...

So, the Court wanted everyone to either figure out a way to settle up? (mediation) or for everyone to .. "take your best shot'" ....

In my opinion .... it made more sense for the snh's to share the cake' with equity via the ordered mediation than to .... gamble on the future result? ... and or drag this dog out for many years to come' .... (when ever you go to battle in the court system .... irrelevant of whether someone is right or wrong .... there is always a chance that you loose') ....

I don't believe the snh's wanted to take the chance of .... being disallowed' ...
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WMI (the parent) stipulates to its procedures ... (posted)

The FDIC explains, .. Its' procedures, within its own website, regarding all seized financial institutions ... (posted)

The examiners report, Footnote 39; states the Loan Portfolio was not able to be accessed ... (posted)

WMI, also stipulates to its Off-Balance Sheet Procedures' ... (posted)

Proof that JPMorgan was NOT given ownership' to WMI's Loan Portfolio, interest income Pass-Through Certs ... (posted)
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Initially, we were all distracted by the Bankruptcy for a while' .... Had the case moved into "litigation?" and had Susman been successful at proving insider trading? .... there's not a court in the land that would have allowed the snh's to continue to participate' .... ("equitable disallowance")

.... It was just too much of a gamble, the financial stakes too high', for them (snh's) to continue to fight and NOT settle with equity' ....

Now? ... everyone gets a FDIC procedural return .... us? ... them? .... its all good'

AZ

(I separated the information into two posts, and surely hope this all made sense' ... )
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Part three:
FDIC Procedures & Bankruptcy are SEPARATE ...

... Regarding ALL, Corporate Bankruptcy's .... generally all bankruptcys end in some type of ... "settlement'" ... settlements are not determined by the court' .. only approved by the court, after a settlement has been achieved ... The details of the settlement would NOT be part of the Court's Records

(these settlements, usually only involve creditor classes damaged' .. making concessions since normally, a BK filing is necessary when ... liabilities exceed assets' ... etc)

So, the only interaction the Court would have, would be to

1st; help and direct all involved to reach a settlement' (in our case, the court ordered mediation)

and'

2nd; approve of the settlement achieved, within the guidelines of the law' ("The Goulding Document & The Plans Confirmation")

Remember' ... within our bankruptcy, our settlement allowed for all of the creditor classes to be paid with "Cash"

The sealed doc that was relevant, was filed on the eve of the Plan 6 approval hearing beginning, ... July 2011 .... filing # 8179 "The Standing Motion"

and then "Nate" put the nail in the coffin in front of the media for all the world to see'

Once the Court ordered the ... "mediated result" ... equity's inclusion in the outcome, became ... well, doesn't mattter now ~ Plan 7 WAS approved & ... Here We Are


Remember, though ~ generally, we are still in the same situation regarding the ... "lack of knowledge" ... I understand the procedures and also fully understand what the picture looked like in Sept of 2008, ... right or wrong not being considered ... however, at this point I figure we just wait it out and see' ...

The Pass Throughs pay monthly back to their recipient' ... (on the 20th of each month) ... mortgage holders pay on the first? ... and so on ... on 9/25/2008? ... WMI's cash receipts were in it's bank, the seized, WMB ... (we all saw what happened with the fight over the cash') ... the next Pass Through date would have been Oct 20th, 2008 and so on ... In Oct of 2008? ... the income received by all recipients within the income chain' (remember, pass throughs can be sold multiple times to multiple recipients) .. would have been minimal due to what was happening in the country ... simply put? ... things were a mess'

the "servicers" had their hands quite full ... Now? I believe things have leveled off and sometime during 2010, WMI (the parent) owned pass-throughs, would have begun to produce a positive return back to the estate, as they had before and were originally intended as income producing vehicles ...

NOW' of course, WMI the parents assets' .. under the control of "R" ... I get the transitional events, however, let me be clear ~ I have no idea of the amounts of return that have been coiffured by "R" on a monthly return basis since those days. ...

honestly, I don't want to start any ... "big thing" ... everyone is already way to sensitive regarding their Trust Markers, ... (everyone did not release') .. however the FDIC site does say that ... finalization is generally between 3 & 6 years, however it could take longer' .... its the ... "could take longer part" ... is why I am settling in for additional time' ....

So, do the trust markers hold future value? .... Yes In my opinion they do'

Are the discoveries of the separate procedural issues between what "R" is responsible for and the Bankruptcy court relevant? .... Yes, again In my opinion they are

Is this what the snh's knew procedurally to be correct when they attempted to jetison equity with Plan 6? .... Yes

The Key' was for equity to be included within the estate ... Done' within the settlement ...

Again, Plan 7 DID include equity' .... its all good'

AZ

OKAY; NOW, stepping away from the Due Diligence and factual issues ... The following is .. In My Opinion;

Do I believe APR was removed at settlement, more, in an effort to eliminate the class 19' caps of P = $1,000.00 & K = $25.00

Yes

Do I believe the returns to "R" regarding these income producing vehicles, after a six year acumulation to be quite large?

Yes

Do I believe we are speaking of the possibility of multiples of "PAR"

Yes

Do I believe we are waiting for the possibility of additional JPM indemnity claims to be received? (Sept 2014)

Yes
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FOOTNOTE 8:

Footnote EIGHT' Direct From The FDIC Accounting ...

Same FDIC Document, Different Footnote'

just sayin'

AZ

"8. Non-Cash Adjustments: Unrecorded assets and claims determined to have existed as of the institution's failure are deemed discovered assets and liabilities, respectively, and are recorded as non-cash equity adjustments. Other non-cash equity adjustments include the Estimated Loss on Assets in Liquidation, the Estimated Interest on Claims, as well as the write-off of remaining unpaid liabilities prior to the inactivation of a receivership. Note that certain non-cash adjustments such as the estimated loss on assets and probable litigation are reversed when they are recognized as liquidation transactions in the Statement of Operations."