Mr Cooper Group Inc (COOP)

[Bizreader]

OTS Fact Sheet on Washington Mutual Bank - credit goes to ron, but since these are facts it is what it is and the payments on these MBS are due escrows.


Institution Profile

Total assets as of June 30, 2008: $307.02 billion.

The Current FDIC-R number is $299 billion because around $6.5 billion was paid to WMI in the 363 Sale to cover the WMI Capital Contributions to WMB.

The Total deposits: $188.3 billion never became a liability of WMB, or WMI because the "seizure" was at no cost to the FDIC-R.


Institution History

WMI is the top-tier savings and loan
holding company and owns two banking
subsidiaries, WMB and Washington Mutual
Bank, fsb (WMBfsb), as well as nonbank
subsidiaries.

WMI is a holding company, not an Bank holding company.

Hence; the Grandfathered Corporate Charter to hold Banks without a "Bank Holding Charter".

Because WMI was not a Bank holding company, but a holding company the OTS/FDIC did not have legal authority to confiscate Private property. Hence; Fifth Amendment Taking [#5885].

For more fun, see Doc #1997. PDF 435


More;
These items are on WMB's books and are NOT the true sell loans placed in to Trusts and held by investors that hold the Trusts CERTs. IMO, these are on WMB's books to act as Servicer for the Trusts for put-backs into the Trusts for non-performing loans. WMIIC holdings in these Trusts are much larger.
Hint; DBNTC is Trustee for $165 Billion, which is much greater than $118.9 billion.

Loans held: $118.9 billion in single-family lo
ans held for investment - this includes
$52.9 billion in payment option ARMs and $16.05 billion in subprime mortgage
loans

Home Equity Lines of Credit (HELOCs): $53.4 billion

Credit Card Receivables: $10.6 billion