Mr Cooper Group Inc fka COOP

[Nightdaytrader]

wwhatthe, from your post below, in red font, you're saying JPM Chase paid $240 Billion and that now belongs to WMI? Is that what you are saying?


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The Trust still can’t be dismantled or dissolved… but…
The Mortgages, or WAMU’s part of the income stream, and the Trust, now all belong to JPMC…

Here in a statement Dated, Jan 13, 2010 (Link at Bottom)
JPMorgan Chase Testimony before the Financial Crisis Inquiry Commission

JPMC states…
With the acquisition, we purchased approximately $240 billion of mortgage and mortgage related assets… with $160 billion in deposits…. and $38 billion in equity… We immediately wrote down most of the bad or impaired assets (approximately $31 billion) …. and established proper reserves for the remaining assets, ….as well as for severance and close-down costs.

This demonstrates, that JPMC is the new owner of the Mortgages and the Trust…
It also shows, that, with the purchase of the Mortgages, JPMC also assumed the financial obligation to the Mortgage Backed Securities investors. So, the investors still get their part of the income stream.

WMI’s part of the income stream, no longer belongs to WMI, or the Estate… but, they did receive $240 billion for it…[color=red][/color] JPMC, also purchased the remaining assets.

The FDIC states they have a total of $299 Billion Dollars in WAMU assets… [color=red][/color]

Quote…” Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF” (Deposit Insurance Fund) … unquote.

These are the talked about assets…
“the assets are retained and therefore the liquidating trust can go ahead and pursue them”.

This is a Bankruptcy Liquidation…
Everything is sold and turned into cash.