Mr Cooper Group Inc fka COOP

[Civil War General]

ISSUE OF OWNERSHIP is the key.

“The issue of ownership of the beneficial interests were under the jurisdiction of the bankruptcy cases, but the actual assets of MBS Trusts were outside of the bankruptcy cases and deemed in safe harbor thus being bankruptcy remote.”

There is little doubt that the assets are there. The real question being discussed on this board is WHO OWNS THEM!

Camp 1 says the Bankruptcy Court cancelled the prospectuses and issued escrow tracking markers (now visible in our accounts) which lump Preferreds and Commons into EQUITY and these assets will be shared 75/25 through the WMILT (most likely) or some other mechanism.

Camp 2 says Bankruptcy Remote means that they will ignore the Courts ruling cancelling prospectuses and the preferred class will receive its original face value as it was originally intended by WMI pre-Bankruptcy (now bankrupt and under the authority of the Court), thus the P, K and TPS will receive their $1,000, $25, and whatever TPS was originally supposed to receive, while all of the rest of the remaining assets will go to Common shares whether they released or not.


Take your pick!??