Mr Cooper Group Inc fka COOP

[jerrylev]

Contrarian, you will have to verify with the sources of those 2 guesstimates because I can quote them wrong. But my understanding is as followed:

Dmd: he went to some pages at FDIC website where they list all the MBS trusts. Somehow he knows which ones belong to WAMU. He added them up and applied a 26% participation ratio and come up with 172B.

I think that Dmd flaw is that not because a trust has the WAMU name on it that it is not sold to JPM. If you have beneficial interest of some trusts that were gone then your BI will be zero.

Justice: He looks at exactly the balance sheet 10 years ago right after the seizure and see that the FDIC substracted 40B from the 299B assets and derives that this is the assets that are retained by FDIC. Only 259B of WAMU assets were sold to JPM.

To me, these 2 have the most logical guesstimates of all. Even if they are off by tens of billions, their theories are not off the hook, illegal and impossible such as the S4V theory.

These two guesstimates give me great confidence that the return is not just 40M. 40M is just an appetizer before the big meal.