Mr Cooper Group Inc (COOP)

[hotmeat]

There are several reasons why payments to WMI for ?ANY? retained interests are possibly not being made or have been suspended since 2008.

These include the interests being held in low priority Equity tranches, the existence of "first-loss agreements or the WMI/WMIIC bankruptcies .

Based on the data from the WAMU June, 2008 Form 10Q we know that their investment in equity tranches were minimal (<5%), thus limiting their exposure.

The first-loss agreements would also be a non issue since most Trusts have a default rate of <2% according to info posted here.

IMO, the bankruptcy is the reason why any payments due to WMI have been suspended and will not resume until this issue has been resolved and closed.

I've read previously that in many, if not most cases, bankruptcies result in Trusts suspending payments to some or all holders of participating interests.

In every case when this occurs, the Debtor's payment is always withheld by the Trust until the bankruptcy case is closed.

There is ample evidence that WAMU held interests based on the 10Q and that it was a common industry practice since retaining these interests enhanced the offering's credit rating.

To date there is actual documentation that WAMU held anywhere from $26B-$30B in these interests,...where they are currently being held is what needs to be determined.