Mr Cooper Group Inc fka COOP

[Dmdmd2020]

First. Happy Easter to all my fellow WMI community! It is truly a happy day!

Thanks to Tstanton, NHT, and all the rest!

Per the previous post #515441:

"However, administration of the Trust is not complete, with claims remaining
to be reconciled and certain assets remaining to be collected. Accordingly, the Trust filed a request with the Internal Revenue Service and on November 21, 2017, the IRS notified the Trust that extension of the Trust’s term will not adversely affect the determination that the Trust is a liquidating trust and ruled that the term of the Trust may be extended up to an additional three (3) years. "

IMO...The actually IRS letter is on this link dated February 23, 2018:

https://www.irs.gov/pub/irs-wd/201808004.pdf

Page 3 of 6, first full paragraph

"... The Plan provides that the beneficial interests in Trust would be distributed to certain holders of senior notes claims, subordinated notes claims, general unsecured claims, guarantees claims, preferred income equity redeemable securities claims, and holders of certain debt of Y. In addition, the Plan provides that, in the event such claims are fully paid, the interests in Trust would be redistributed to certain holders of subordinated claims, and after such subordinated claims are paid in full, certain holders of preferred equity interests, Dime Warrants, and common equity interests."

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IMO...conclusions:

1) WMILT is expecting beneficial interests from
MBS Trusts (over $692 billion securitized from 2000-2008). From my previous post #504195, I calculated that WMI/WMILT/Escrow Marker Holders retained approximately 5.16% beneficial interests of all MBS Trusts assets.

$692 billion x 5.16% = $35.16 billion (not including any interest over 9+ years)

2). When will beneficial interest assets from MBS Trusts return to WMILT? I don't know, but I'm willing to wait for as long as possible...and the IRS is waiting for another 3 more years to get its taxes from it.