Mr Cooper Group Inc (COOP)

[jerrylev]

Dmd, you said:

"the lion’s share of recoveries are from beneficial interests in certificate participation in MBS Trusts created by WMI subsidiaries. IMO...The participation rate is about 26%. "

Dmd, I would like to hear from both sides and will keep an open mind.

So according to you, the participation rate of beneficial interest is 26%. So it is 26% of 80B - 172B of MBS Trusts.

According to HM then WMB was sold entirely to JPM and so 26% of zero is zero. The only beneficial interest is from the 40B of mortgage assets that were retained by FDIC.

It is like if a football player who lost his legs or arms and so he is now worth zero.

Or somebody used to have several rental houses and get a lot of income from it but they got burned down and he has no insurance and so his income is now zero.

So what do you think about your estimate versus HM estimate?