Thursday, September 06, 2018 8:53:19 AM
Again, Loans owned by WMB were sold to JPM in 2008, those ""sold"" (true sale) to SPE's and then placed into Trusts as MBS's are the loans WMI could have Beneficial Interests in.
Does it cease to collect interest in 2008 or 2012 or until the loan is paid off?
In most cases the Trust Assets continue to perform as per normal even through bankruptcy until all loans are repaid or the Trustee decides to close the Trust. DB was different since there were repurchase obligations for non-performing loans. These loans could not be replaced once the bankruptcy was filed in 2008 or compensated for until the FDIC settled with DB in 2017.
you said that this interest money is not in the trust possession yet and so is it held by JPM now? Does JPM has to pay or everything will have to come from the 40B assets that FDIC has retained?
If there is cash from BI's they will be held in court sanctioned accounts, possibly with JPM or another bank. JPM does not own or control these funds. The $40B possibly retained by the FDIC has nothing to do with JPM. WAMU had $299B in assets, JPM received $258B so the FDIC may have kept $40B for their own use. Unless JPM chooses to purchase these assets, they owe the FDIC nothing.
As mortgages are paid off, do you think that the longer the trust hang onto those beneficial interest or DST or whatever you call, they will decrease in value? If so then why didn't the trust sells it sooner?
This was addressed yesterday. As payments are made to BI holders the total they are owed will obviously decrease, that cannot be helped. What affects the value of an asset is it's current worth and market conditions ie 2008 compared to 2018. If at the start the BI's were worth $2B Total, to be paid over 5 years, after 2 years of receiving payments it would not still be worth $2B since $800M would have been already paid to the holder. If the holder then decides to sell the remaining 3 yrs of interests now worth "$4.2B", they may have to sell it for $4B or less since the new investor needs to generate a profit. Selling it sooner could actually result in the original holder sacrificing profits since the asset would be discounted in order to cash in earlier.
These are all my opinions based on my interpretation of the facts I've read.
The Socratic Method...is the best method!
Recent COOP News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:07:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:36:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:33:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:28:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:26:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:24:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:22:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:19:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:17:44 PM
- Xome Democratizes Real Estate with Launch of DIY Sales Platform, No Agent Required • Business Wire • 05/22/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 10:47:32 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/15/2024 12:11:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 12:12:48 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/07/2024 08:22:09 PM
- Mr. Cooper Group Reports First Quarter 2024 Results • Business Wire • 04/24/2024 11:00:00 AM
- Mr. Cooper Group Announces Two New Senior Leaders • Business Wire • 04/23/2024 01:00:00 PM
- Mr. Cooper Group Inc. to Discuss First Quarter 2024 Financial Results on April 24, 2024 • Business Wire • 04/05/2024 03:37:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 09:34:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:05:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:04:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:03:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:01:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 10:59:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 09:28:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/14/2024 09:15:59 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM