Mr Cooper Group Inc (COOP)

[Dmdmd2020]

Nightdaytrader...thank you so very much for his letter and the link.
IMO...this proves the discharge of the MBS Trusts that were discharged by the Trustee (DB).

Per the link, PDF page 4 of 44:

http://www.globic.com/wamurmbssettlement/pdfs/DB%20WaMu%20TIP%20Notice%20to%20Holders%20re%20Distribution%20Timing%2012.11.17.pdf

"
001
Coast Federal 1992-1
002
GSAMP Trust 2005-S2
003
GSAMP Trust 2006-S1
004
Long Beach Home Equity Loan Trust 2000-LB1
005
Long Beach Mortgage Loan Trust 2000-1
006
Long Beach Mortgage Loan Trust 2001-1
007
Long Beach Mortgage Loan Trust 2001-2
008
Long Beach Mortgage Loan Trust 2001-3
009
Long Beach Mortgage Loan Trust 2001-4
010
Long Beach Mortgage Loan Trust 2002-1
011
Long Beach Mortgage Loan Trust 2002-2
012
Long Beach Mortgage Loan Trust 2002-5
013
Long Beach Mortgage Loan Trust 2003-1
014
Long Beach Mortgage Loan Trust 2003-2
015
Long Beach Mortgage Loan Trust 2003-3
016
Long Beach Mortgage Loan Trust 2003-4
017
Long Beach Mortgage Loan Trust 2004-1
018
Long Beach Mortgage Loan Trust 2004-2
019
Long Beach Mortgage Loan Trust 2004-3
020
Long Beach Mortgage Loan Trust 2004-4
021
Long Beach Mortgage Loan Trust 2004-5
022
Long Beach Mortgage Loan Trust 2004-6
023
Long Beach Mortgage Loan Trust 2005-1
024
Long Beach Mortgage Loan Trust 2005-2
025
Long Beach Mortgage Loan Trust 2005-3
026
Long Beach Mortgage Loan Trust 2005-WL1
027
Long Beach Mortgage Loan Trust 2005-WL2
028
Long Beach Mortgage Loan Trust 2005-WL3
029
Long Beach Mortgage Loan Trust 2006-1
030
Long Beach Mortgage Loan Trust 2006-2
031
Long Beach Mortgage Loan Trust 2006-3
032
Long Beach Mortgage Loan Trust 2006-4
033
Long Beach Mortgage Loan Trust 2006-5
034
Long Beach Mortgage Loan Trust 2006-6
035
Long Beach Mortgage Loan Trust 2006-7
036
Long Beach Mortgage Loan Trust 2006-8
037
Long Beach Mortgage Loan Trust 2006-9
038
Long Beach Mortgage Loan Trust 2006-10
039
Long Beach Mortgage Loan Trust 2006-11
040
Long Beach Mortgage Loan Trust 2006-A
041
Long Beach Mortgage Loan Trust 2006-WL1
042
Long Beach Mortgage Loan Trust 2006-WL2
043
Long Beach Mortgage Loan Trust 2006-WL3"


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IMO...conclusions:

1) there were 40 Long Beach Mortgage MBS/ABS Trusts under DB Trustee prior to the date of the letter (December 11, 2017). Per the letter distributions will not be paid prior to January 2018, but will be paid according to monthly payment schedules.

2) by searching the State of Delaware site, there only 6 Long Beach Mortgage Trusts left. Thus 36 of those Trusts were liquidated to cash, where all MBS investors will be paid (including the residual Equity Tranche/ Interests which are rightfully owned by the WMI Equity Marker Holders).

https://icis.corp.delaware.gov/Ecorp/EntitySearch/

__________________

Per CBA09 post #499401:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136770430

"Once a Trustee is discharged it signals the complete liquidation of the Trust Assets. No need for a Trustee."

Here is the full post:

"Ref: Thank you CBA09. That is what I suspected originally. Safe Harbor assets release should have been controlled by the MBS trustee. What I don't understand is how DB as trustee could be discharged from probate without WMI receiving our assets? If DB is gone, who is the current trustee of our assets?

Comment:
Once a Trustee is discharged it signals the complete liquidation of the Trust Assets. No need for a Trustee.

We no longer care about a Trustee. Are assets are protected.

Safe Harbor assets:
The "Retained Assets!" Residual Interest in such assets are represented by A Residual Certificate. Generally the first SPE within a two SPE Tier -MBS.

Like (WMMIC - SPE - Tier # 1 & SPE/Trust - Tier # 2. WMI being Parent reaps the final benefits.

Ref: 1031 Exchange - I do not believe so with Terminated Trust Assets. To be fully terminated means all obligations are satisfied to certificate holders. And, all assets liquidated to cash. "

__________________

IMO...overall conclusions:

1) DB Trustee has discharged all the 99 MBS/ABS Trusts under its responsibility

2) by just taking the example of all Long Beach Mortgage Trusts under DB, 34 out of 40 Trusts were liquidated.

Liquidation percentage = 34 / 40 = 85% liquidated in cash

Assumptions:

$692 billion mortgages were securitized by WMI subsidiaries from 2000-2008.

25% retention of MBS/ABS Trusts by virtue of residual Equity Tranches/Interests beneficially owned by WMI Escrow Marker Holders

Extrapolate 85% liquidation percentage across all MBS/ABS Trusts created by WMI subsidiaries

Calculations:

$692 billion x 25% = $173 billion

$173 billion x 85% = $147 billion liquidated in cash which belongs to WMI Escrow Marker Holders