Mr Cooper Group Inc (COOP)

[UncleBo]

Guys, one other thing I am curious about is...

Now that we see that these trust are being transferred back to WMIH, who is the successor of NSM (an approved servicer according to the DBNTC settlement). How is WMIH "getting" these servicing rights, I mean for free...perhaps.

If I recall correctly JPM booked 10B "unusual" gain on their BS way back when for the mortgage servicing rights which was taxable over the course of many years ahead (smart move by the way not take a tax hit). So basically they got to collect a servicing fee for 10 years for nothing. Now are they selling these servicing rights or they were order by FDIC to let go - free of charge back to NSM (FULL circle WaMu) ?!

By the way, WMALT 2006-AR4 which is listed on the NSM ABS tab is trust number 099 in the DBNTC settlement.

Uncle Bo