Mr Cooper Group Inc fka COOP

[boarddork]

And "Mortgage Assets" were also no included in the PAA sale to JPM. However JPM can pay BOOK VALUE is they choose.

A "True Sale" by and amongst WMI consolidated (WMI legally sold to itself thru a series of independent sales to itself) made mortgage collateral and cert participation income untouchable to all, once BK and receivership triggered the 'Safe Harbor and Legal Isolation kept Off Balance sheet' event.

JPM didn't actually seize them. More like controlled them like one temporarily holds lease ownership of a car. When you lease a car, you can can do whatever you want, under the allowances and penalties of the lease agreement.

JPM could service the legacy WMI portfolio all they want, within the ultimate guidelines available.

When the car lease is up, you settle up and pay up for damages or money owed.

JPM will settle up and pay up for damages as well, and the FDIC is on the ultimate hook as it reconciles the receivership.