Mr Cooper Group Inc (COOP)

[hotmeat]

I respectfully suggest you reread from whom the "Securitization Rule" ie Safe Harbor/Legal Isolation protects assets.

Where's the language that states Safe Harbor assets are shielded from the bankruptcy court once the bankruptcy is closed???

On the ED "certain assets" were transferred to the LT, ie bankruptcy assets pwned by WMI.

Any SH assets/interests owned by WMI could not have been transferred since they are....Bankruptcy Remote!!!

This does not mean that Debtor owned SH assets can revert to CANCELLED equity ie Commons as is being claimed.

The only existing claimants are our Markers and they are governed by the POR's 75%/25% ratio, as is the Debtors and the FDIC.

The FDIC being the most influential since they are the likely entity holding/managing any available Safe Harbor assets.



Quote 1: "The transferred financial assets have been isolated from the transferor (WMB or WMI)-put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership.

The above quote clearly shows that Safe Harbor is meant to protect investors assets from being sold by the Debtor, Creditors or the FDIC to pay debts. It does not fully exempt the assets from the bankruptcy process or the actions of the court.



Quote 2: "In the event of bankruptcy, receivership, or other insolvency of the transferor or any consolidated affiliate of the transferor that is not a bankruptcy-remote entity, the transferred asset would not be deemed to be part of the estate of the transferor or its consolidated affiliate."

Hence the transfer of "certain assets" to the LT on the ED since any such assets would also qualify for Safe Harbor protection even though the Debtors (WMI + WMIIC) were in bankruptcy.

Safe Harbor is "NOT BANKRUPTCY REMOTE" as is being claimed!!!


FASB Doc pgs 4-6