Mr Cooper Group Inc (COOP)

[Dmdmd2020]

I forgot to post this here yesterday:

Per the website :

https://tss.sfs.db.com/investpublic/

This particular MBS Trust is titled “Long Beach Mortgage Loan Trust 2000-1 ...February 21, 2019 Distribution”

PDF page 3 of 27:

“Total Orginal Face Value = 1,000,000,594.71

Total Realized Loss = 24,570,505.25

Total Distributions = 1,185,679,527.54

Total Current Principal Balance = 12,027,405.15”

IMO...my calculations :

Total realized loss percentage rate = $24,570,505.25 / $1,000,000,594.71 = 0.02457 = 2.457% realized loss

Total distributions percentage profit rate or Return On Investment (ROI) = $1,185,679,527.54 - $1,000,000,594.71 = $185,678,932.83

$185,678,93.83 / $1,000,000,594.71 = 0.18567 = 18.567% profit (ROI)

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Per Duff & Phelps document regarding DB Globic :

https://www.globic.com/wamurmbssettlement/pdfs/2.%202017%2004%2026%20FILED%20WAMU%20TIP%2002-Amended%20Declaration%20iSo%20David%20L.%20Zifkin%20Submitting%20Further%20Evidence%20in%20Support%20of%20Petition.pdf

PDF page 102 of 108:

“Exhibit A... Duff & Phelps, LLC as of March 31, 2017”

If you add up the two entries under LBMLT 2000-1 group 1 + LBMLT 2000-1 group 2

Orginal Group Collatetal Balance = $72,998,895 + $927,001,700 = $1,000,000,595

Group Losses to Date = $6,732,021 + $69,500,512 = $76,232,533

Total Group Losses percentage rate = $76,232,533 / $1,000,000,595 = 0.07623 = 7.623% group losses


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IMO...my conclusions as of February 25, 2019:

1) Per the DB document as of February 21, 2019, has a much less realized loss of $24,570,505.25 (2.457%) instead of the Duff & Phelps document (as of March 31, 2017) which stated losses of $76,232,533 (7.623%)

And total profit (ROI) = 18.567%

2) I compared LBMLT 2001-2 on the two separate documents and it yielded the same results. Which means that the Duff & Phelps document overestimated losses compared to the actual realized losses.

3) I haven’t compared all the other Long Beach MBS Trusts, but I assume they will yield the same conclusions.

4) Therefore, per the Duff & Phelps as of March 31, 2017, it stated that total “Group Losses to Date” = $16,673,212,335 (PDF page 204 of 108), which is approximately a 16% loss rate of all Long Beach Mortgage MBS Trusts. IMO...I contend that the actual realized losses are significantly less!