Mr Cooper Group Inc (COOP)

[etzetrade]

Me too, definitely have some connections. By the way, I also have both FnF preferreds and commons.

As pre-BK, WMI had $24B net assets, and served $300B+ MBS to earn 2.5% service fee. I believe that WMI had invested her money in mortgage, and packaged with other investors' mortgages then issued the packages as guaranteed securities.

As LG said, JPM never bought MBS. It's true. However, during the period ( 2009 - 2014), JPM refinanced, by her own money, old wmi's MBS. Plus, liquidated a lot of bad MBS. All the processing accumulated $100B+ cash then sent it to depository trust. So, now JPM owns all the mortgages which were owned by WMI before.

Questions is how much WMIHLT would get after other investors, or share equally against write-off by JPM. Remember, JPM said she did the best decisions to protect the value of MBS. JPM's write-off is more than $24B. IMHO, we may see nothing to LT.

It turns out thatJPM is the largest winner. Not only convert all old WMI' MBS without any additional efforts now under JPM' umbrella, plus 2.5% service fee for 6 years.