Mr Cooper Group Inc (COOP)

[hotmeat]

My opinions are based solely on the chain of title of the assets and/or interests ""controlled"" by WMI/WMIIC (the Debtors). Prior to the bankruptcy, it was WMI that was the legal recipient of the financial benefits (CASH) that were generated by it's Subs and their interests in stand alone Trusts.

When bankruptcy was filed nothing changed with regard to these assets in terms of WMI's ownership. We know that the LT is the sole and legal successor to WMI on behalf of our Markers. The interests in the independent Trusts that WMI ultimately received cash yields from, IMO, automatically transfers to the WMILT, not WMIH.

The assets, which is mostly cash, will be distributed according to the POR as agreed using the LT as the distribution entity. Read the recent PR from WMIH, WMIIC's assets were liquidated and used towards Creditor payments. IMO, it was WMIH's equity in WMIIC that was used as leverage to access the KKR loan even though they did not own the assets.

The LT owns the assets of WMIIC as evidenced in the POR7 and a subsequent 8K stating such. Due to the loose relationship between the LT and WMIH, this guarantor status of WMIIC was granted. If this is not the case, we should see some type of PR from KKR making some kind of announcement on this issue.

See my previous posts# 504313 + 504357 also.