Mr Cooper Group Inc (COOP)

[sharing4u]

newflow,

You will find the position of WMILT in many of filing documents.
For instance, the quarterly summary report:

http://www.wmitrust.com/wmitrust/document/8817600171031000000000001

This Quarterly Summary Report of WMI Liquidating Trust (the “Trust”), as successor-in-interest to Washington
Mutual, Inc. (“WMI”) and WMI Investment Corp. (together referred to as the “Debtors”), to the United States

Successor in interest:
https://definitions.uslegal.com/s/successor-in-interest/

In addition to successor in interest, the term equity interest is extremely vital in the legal wamu saga to follow:

This is how it was defined in POR7, P12:
1.103 Equity Interest: The interest of any holder of one or more equity
securities of WMI (including, without limitation, voting rights, if any, related to such equity
securities) represented by issued and outstanding shares of common or preferred stock or other
instrument evidencing a present ownership interest in WMI, whether or not transferable, or any
option, warrant, or right, contractual or otherwise, to acquire any such interest, including,
without limitation, unvested restricted stock.

The former WMI Group owned a certain percentage of RMBS(certificates) and entitled monthly income and distribution. Although it is very difficult to get the break down between the debtors and/or subsidiaries. On the whole as the family group, the participation should be substantial in monetary terms in tens of Billions (my guess only, no proof).
Just judging from the 91% increase of JPMC servicing rights of residential mortgages after taking over that of WMB: the increase was about $557B from WMB. Some figured out that the average participation percentage in RMBS was about 8% (I guess it should be more as a whole), just counting this 8%, it will net $44.6B... By intuition... it should be much much more than just $45B from the WMI Group - the Mortgage Monster.

So equity interest is a term laid in the foundation in the definition from POR7.

Once I was wrong to follow some legal terms on definition and think that
with respect to Court of Chancery that such definition of equity interest under Chancery Laws overrides Common and Statutory Laws.

As an escrow marker owner, I was upset to conceive the idea that WMIIC owns the rights to receive all SPE Trust participation of the WMI group. But in fact it could just own a portion only.
Majority of the ownership was by WMI Group, now under WMILT.
In the 2 months settlement and subsequent related meetings between numerous legal eagle fighters to arrive the agreed POR7, there could have had term sheets fighting and bleeding moments among creditor committee, equity committee, TPS, debtors....... lAWS AND REGULALTION OVERRIDES, of course with many compromises to let everyone to accept POR7. WMILT still had to take a haircut to let WMIIC to have something for WMIH.

WMILT is the successor in interests to the debtors (WMI & WMIIC) and owns all properties including assets and beneficiary interests.

That makes the escrow marker holders the final winner. (IMHO)

Comments are welcome.