Mr Cooper Group Inc (COOP)

[boarddork]

It actually doesn't matter who WAAC belongs to......WMI, or WMB, or WMBfsb. Take every asset, regardless of the parent ownership tree, and there is a separate path of some returned value. They all come back to us, after their each unique 'journey' settling the appropriate claims in front. Ultimately those who released benefit from the residuals of whatever remains, from wherever.

This is KEY, to not getting lost in the 'weeds' that sprout up here daily.

The WMI consolidated entities "mortgages held in portfolio" assets are MASSIVE, and dwarf the senior claims before we, who released.

For example:

If we come to find the mortgage assets are solely WMI's: $80B legacy WAMU - $5Billion-ish unvetted claims left on KCCLLC register = HUGE life changing event. or,

If we come to find the mortgage assets are solely WMB's: $80B legacy WAMU - $25Billion-ish unvetted claims left against WMB = Huge life changing event. or,

If we come to find the mortgage assets are solely WMBfsb's: $80B legacy WAMU - $25Billion-ish unvetted claims left against WMBfsb = Huge life changing event. or,

If we come to find the mortgage assets are solely a blend of WMI/WMB/WMBfsb's: $80B legacy WAMU - $25Billion-ish in unvetted claims left against WMI/WMB/WMBfsb = Huge life changing event.


It's a happy life changing event (HLCE), whichever way the assets fall. And mortgage assets weren't kept just in one subsidiary. Different paths, different HLCE from each.