Mr Cooper Group Inc (COOP)

[wwhatthe]

Hotmeat…
I hope you don’t mind me saying, but you might want to consider this…
This is directly from a JPMorgan Chase News release, dated Sept. 25, 2008. (link at Bottom)

Quote,
As part of this transaction, JPMorgan Chase will make a payment of approximately $1.9 billion to the FDIC.

Unquote.

This statement is from JPMorgan Chase themselves…

So, the $1.9 billion Dollars is only a payment. ($1.88B + $50million)
It’s the “Initial Payment” at inception on 09/25/2008.

The “Initial Payment” is explained in the
PURCHASE AND ASSUMPTION AGREEMENT

And…
We can see the $1.9 Billion Dollar payment on the,
WASHINGTON MUTUAL BANK Inception document Date: 09/25/2008

This is also from,
JPMorgan Chase themselves… (no longer linked)
January 13, 2010.
JPMC states…
With the acquisition, we purchased approximately $240 billion of mortgage and mortgage related assets…

So, on 09/25/2008 there’s the “Initial Payment” and on January 13, 2010, there’s the mention of the purchase of approximately $240 billion of mortgage and mortgage related assets.

Then on November 5, 2015, the FDIC states it has $299B in WAMU total assets.

So… If WMI’s, WMB assets were seized by the FDIC and sold to JPM… (and they were.)
And, if the $1.9 billion is a payment… (and it is.)
Then it’s a payment for WMI’s, WMB’s assets…

It’s been stated in the documents, there are two sets of assets,
There’s the WMI’s WMB assets, and WMI’s non-bank assets…
The WMI’s non-bank assets are gone… (just like you said, used up in the bankruptcy)
So, there’s only the WMI’s WMB assets left.

The $299B in WMB assets, the FDIC is talking about… is the only source for a recovery…


GLTU, All IMHO,

Take care…

wwhatthe

from my Research, Post# 611579
and Post# 611591
JPMorgan Chase News release, dated Sept. 25, 2008