Mr Cooper Group Inc fka COOP

[jerrylev]

When we use the word "protected", it only means protected from seizure and from the creditors. Otherwise, those assets are under the jurisdiction of the bankruptcy court to give it back to the Estate. Now there are two options: The Estate can get transferred to the reorganized company which is not what the court had decided in the WAMU case, or they will be liquidated and the proceed given back to shareholders, and in our case only to shareholders who signed release and not to any shareholders.

So there are assets from the Estate to be liquidated and we don't know if it SH or just WMI assets, but who cares? They will be all liquidated eventually and the proceed returned to shareholders who signed release.

That is pretty simple and clear cut. At this point, it is not important to distinguish if an asset is SH or securitized or not bceause they will be all sold. The only thing to consider is if an asset was SH or belonging to WMI then it cannot be seized and sold for cheap for 1.9B or petty cash to JPM in 2008. That is our biggest fear.

And JPM and FDIC were surprised in 2008 too that after the seizure, they thought that they got it all to gift to JPM only to find out that many assets were SH or securitized and have to be bought later at market price. That's the biggest joke of all.