Mr Cooper Group Inc (COOP)

[Johnnyiwantsome]

Everyone Please Read Hotmeat'S post 511543 ! HOT MEAT That post is so on the mechanism that I tried to give you a PLUS 1 for that post ,however it said the system was under maintenance. I must say that was the best, most concise, layman's explanation and honest post I have seen to date explaining 'The Process" from that is to say a 30,000 foot perspective, with regards to assets if any that will be returned Via .....the IMHO the only path available!

It has to come thru the LT ...HAS TOO! Great Post, Great Explanation, Great Summary.

The end of a bankruptcy usually results in assets going to the reorganized debtor (eg WMIH). In our case the TITLE holder of WMI's beneficial interests would be the WMILT as a matter of law.
Also,the FDIC being unreleased deals with their mandate to fulfill the GSA by returning our property and the other agreements contained therein. Until those agreements are met, they are not released.

The only avenue for WMIH to receive "assets" would be the LT remaining as the Beneficial Owner of SH interests where CASH payments are continued to our Markers once WMIH takes control of those "assets".

Here, WMIH would regain control of WMB SPE's interests (WMAAC, WMMSC etc) in Trusts and the pre bankruptcy beneficial rights of CASH payments to WMI, are now transferred to WMI's legal successor,...the WMILT. The SH asset is now once again isolated from the WMILT as it was pre bankruptcy with WMI.

The alternative of WMIH receiving all legacy assets will result in KKR and Fortress being GIFTED our assets. That IMO will not happen.

Beneficial Owner is a legal term where specific property rights ("use and title") in equity belongs to an entity (WMI/LT)...even though legal title of the property belongs to another (WMIH)"

Excellent Post, pure excellence and that is based on its content not you as a person because as you I believe you can't get around the delivery vehicle.
Regards,
B