Mr Cooper Group Inc (COOP)

[Large Green]

W3Research - Thanks and KUDOs to your secret admirer. Notice item number 7. From this information, the Brokers should have been notified of incoming funds from the DB/JPM/FDIC settlement. Notice what I have highlighted in red below.

http://www.occourts.org/tentativerulings/wclasterrulings.htm

7
17-00906790

Morgan Stanley - Trust - ABS Capital 1 Inc. Trust 2007-HE6
Petitioner Deutsche Bank National Trust Company's Verified Petition for Instructions of Deutsche Bank National Trust Company as Trustee

The Court thanks Deutsche Bank National Trust Company, solely as Trustee for the Morgan Stanley ABS Capital I Inc. Trust 2007-HE6 (the “Trustee”), for the supplemental papers filed 08/10/7 and 08/28/17 and the Expert Report filed on 9/27/17. The petition is GRANTED, except that the order will not state that (1) it is “binding upon [ ] any other persons having or claiming any interest, beneficial or otherwise, in the Trusts” (Petition p. 15:3-5), or that (2) the terms of the Settlement Agreement are “binding upon all Certificateholders and any other persons having or claiming any interest, beneficial or otherwise, in the Trusts” (Petition p. 15:3-5).

Notice of the petition is “to be served in the manner provided in Chapter 4 (commencing with Section 413.10) of Title 5 of Part 2 of the Code of Civil Procedure on any person, other than a trustee or beneficiary, whose right, title, or interest would be affected by the petition and who does not receive notice pursuant to subdivision (a).” (Prob. Code § 17203(b) [emphasis added].) “[W]here notice is required to be given and is not given, the resultant order is void and may be collaterally attacked by anyone at any time.” (Estate of Sigourney (2001) 93 Cal.App.4th 593, 601, 598-99.)

The Court understands that it is the Trustee’s position that it has provided notice to the Depository Trust Company, who in turn is obligated to give notice to financial institutions that ultimately include beneficial owners. Accordingly, any final order should exclude the aforementioned language.