Mr Cooper Group Inc (COOP)

[LuckyPanda]

David, I think we own the interest margin on the $300 billion portfolio. We dont own the $300 billion principle but the interest spread between what that $300 billion portfolio generates and the interest and principle liability to the deposit base that went along with the bank.

The last available wamu 2007 10k filing showed that the interest margin on the portfolio was around 2.9%. I calculated about $80 billion in interest for the last 9 years with a theoretical $140 billion if carried through for 30 years.

So I'm expecting about $80 billion in cash and the rest in wmih shares for the remaining portfolio in a shares for value exchange.

This is all just my theory. I can accept the FDIC selling just the bank to JPM for $2.7 billion. But I cant accept it if the sale also included the main income stream of the $300 billion portfolio. That will leave a huge liability for fraudulant lawsuits for the FDIC. I dont believe such a conspiracy could have survived. There were so many hedge funds involved that would have slapped rico lawsuits to make hundreds of billions.

The FDIC didnt break any laws. They just cleverly tricked all the shareholders into thinking that they did. If we had sued them we would have never won. Thats why no law firm ever volunteered to sue on our behalf on contingency. If they really confiscated the $300 billion portfolio income stream, there would have been plenty of law firms doing class action lawsuits for 40% contingency fees.

My theory is the portfolio is under "protection" under safe harbor and DB will release it at the end of the probate.