Mr Cooper Group Inc (COOP)

[CBA09]

Ref: CBA09, were the servicing rights an asset of WMI, the parent or WMB or a Sub? Either way wouldn't that asset have to be paid for or returned? TIA

Comment:
Servicing rights are generally retained by the orginator.

Assets transferred / sold to a Trust for securitization are assets of the Trust. These Trust owned assets ( Loan Receivables ) provide the collateral protecting the certificate holders interest. When sold to investors, (certificate holders), the initial proceeds are then forwarded to the originator.

Hope the above helps.