Mr Cooper Group Inc (COOP)

[LuckyPanda]

FDIC disclosure doesnt add up. Where are the assets from the trusts that DB released? Shouldnt the WMB bond holders (class 17) be paid with trust assets from the probate? The 2.7 billion is only the cash in receivership from WMB sale.

Last week, Johnny found out feom Janice from FDIC receivership that they were delaying with the status update due to the loan servicers from the hurricane regions. We've determined that those servicers were the ones listed in the DB probate. So why delay if all they are going to distribute is the $2.7 billion cash on hand? They wouldnt need to deal with the loan servicers? and no need for delay.... something doesnt add up. Where happened to the assets from the DB trust probate?


Also, what the hell is the receivership going to do with just $100 million left? Lawsuits are expensive. If they are suppose to get large money from JPM over Libor, they will need much more than $100 million for lawyers.

My suspicion is all the trust assets are part of the Safe Harbor accounting and will never show up under the receivership because those assets never belonged to WMB and hence were not part of the sale transaction.

I know there are missing assets in safe harbor. What I dont understand is the process of how it will eventually return. I really thought we would see them by now with the DB probate approved. Now I'm really puzzled.

My only hope now is that they are holding bacj disclosure until WMIH announces merger with the safe harbor asset. So I'm hopeful until then...or at least until WMIH extends its financing deal next month...then we maybe waiting for another year.