Mr Cooper Group Inc (COOP)

[ItsMyOption]

MY RESPONSE TO FDIC WITH COPY TO Chairwoman:Jelena McWilliams [e-mail]

I also attached my initial Complaint letters. My plan is to send this daily to all departments heads of FDIC until we get answers.

Priscilla,

For how long it took the FDIC for this response to my Complaint is not only unacceptable but seems to be just a canned response – please review the Status of Washington Mutual website for all the answer to your inquiries. It is possible that you have not gone to see the last update was 12/06/2019 so it is far from anything that provide any update. You should know the courts finalized the Chapter 11 as of the end 2019 so what is taking FDIC so long and is any damages or interest on those delaying this receivership?

I and many other plan to send daily letters requesting Transparency to our questions / concerns to the Chairwoman McWilliams on down until we get answers. You can review the letter attach on some of the questions I need answers to. In the Globic Settlement agreement was the Class 17 Bank Bond holders claim of about 13 billion was the responsibilities of FDIC and JPM – so who is holding this payment up and is any interest payments attached as damages for this delay? When will Class 17 Note Bank Bond holders get paid?

I can absolutely show you SEC documents filed by JPM of assets that have disappeared. Just a few below

https://www.fdic.gov/about/strategic/corporate/cfo_report_3rdqtr_15/0915_cfo_report.pdf

***Bottom of page 7***

'Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF'

JPM year ending 2014 10K reported R-203...... (Off Balance Sheet 165 Billion) report, and list it as considered assets of the former WaMu Estate.
http://www.secinfo.com/dJ5e.m8v.b.hem


In 2014 JPM made an announcement about shedding 100 billion before the filed there 10K filing showing 127 billion in off balance sheet collections regarding former WaMu.


JPM SAYS ASSETS at FDIC!

1WaMu Asset Acceptance Corp., as Securitizer, is filing this Form ABS-15G in respect of all mortgage-backed securities representing interests in pools of residential mortgage loans for which it acted as depositor and which are outstanding during the reporting period. On September 25, 2008, JPMorgan Chase Bank, National Association (“JPMCB”) acquired the banking operations of Washington Mutual Bank from the Federal Deposit Insurance Corporation (“FDIC”). It is JPMCB’s position that certain of the repurchase obligations of Washington Mutual Bank remain with the FDIC receivership. Assets are reported herein in accordance with Rule 15Ga-1 regardless of the validity of the demand or defenses thereto, and nothing in this report shall constitute, or be deemed, a waiver of any rights, defenses, powers or privileges of any party relating to these assets.

http://whalewisdom.com/filer/wamu-asset-acceptance-corp

See FOOT NOTE ONE - Following Link

http://www.sec.gov/Archives/edgar/data/1317069/000092963815000128/wamu-67348_abs15g.htm

FOOT NOTE ONE: 1WaMu Asset Acceptance Corp., as Securitizer, is filing this Form ABS-15G in respect of all mortgage-backed securities representing interests in pools of residential mortgage loans for which it acted as depositor and which are outstanding during the reporting period. On September 25, 2008, JPMorgan Chase Bank, National Association (“JPMCB”) acquired the banking operations of Washington Mutual Bank from the Federal Deposit Insurance Corporation (“FDIC”). It is JPMCB’s position that certain of the repurchase obligations of Washington Mutual Bank remain with the FDIC receivership. Assets are reported herein in accordance with Rule 15Ga-1 regardless of the validity of the demand or defenses thereto, and nothing in this report shall constitute, or be deemed, a waiver of any rights, defenses, powers or privileges of any party relating to these assets.


AS Note of FACTS: This paper below was written Doctor, Sankarshan Acharya, Associate Professor of Finance who work as top financial advisory to the FDIC so he know FDIC and the corruption of the big banks on Wall Street that FDIC seems to be in a circle of collusion of Fraud with them.

The good Doctor, Sankarshan Acharya, Associate Professor of Finance University of Illinois at Chicago penned the below paper on the Economic Inefficiency of Short-Selling......especially relevant to WMI and WMB is example 2 on pages 9-11...... Note: I can also verify what he states as a fact!

http://www.pro-prosperity.com/Research/Sub-Optimality%20of%20Short%20Selling.pdf

Example 2 (JPM-WM): JP Morgan and Chase conceives of a plan (Project West) to acquire a successful, well-capitalized and valuable bank, Washington Mutual Bank (which is a subsidiary of Washington Mutual Incorporated, a bank holding company), to expand its operations to western parts of the United States. At this time, mutual funds passively hold 90% of 1.7 billion common shares of WMI. JPM then floats its interest in buying WMI. It does so to facilitate short selling of 1.5 billion shares of WMI common stock. JPM creates these shares synthetically or by pulling out of thin air. The Clearing House controlled by JPM does not question JPM on non-delivery of shares sold short. JPM sells these shares to the passive mutual funds, pension plans and individual investors. No buyer suspects anything when JPM has expressed interest in WMI. JPM simultaneously buys 500 million WMI shares through some of its subsidiaries. JPM has to buy some and sell more to entice other buyers through talks of buying WMI. At the end of the trading, JPM holds 1.5 billion shares short in its private trading-inventory account and 500 million shares long in its investment account. JPM files its long positions with the SEC and wins confidence of all other mutual fund holders. JPM has helped create a rule to not let regulatory agencies inspect its trading-inventory account held in its market making subsidiary. JPM has successfully justified and lobbied for keeping such accounts ultra-secret. At the time of constitution of the BOD and appointment of key personnel like the Finance Director of WMI, JPM now dangles its long positions of 500 million shares to project its weight as a benevolent large shareholder of WMI seeking to place its people in a company planned to be acquired.
JPM then obtains all important data to make a low-ball offer of $8 per share to buy WMI. But the WMI CEO refuses. Then JPM appointed WMI BOD fires the CEO with a golden parachute to replace him with a pliant CEO to serve JPM’s interest. JPM then uses its long and short positions to drive down the price of JPM stock to $1 per share. Cohorts of JPM like Goldman Sachs recommend everyone to sell WMI short. JPM simultaneously compels the public rating agencies to downgrade WMI bonds and stocks. The rating agencies have a model to downgrade securities based on dropping stock price. The rating agencies thus follow their model. JPM merely advises the rating agencies to perform their fiduciary duty of downgrading securities of a company with falling stock prices.
The rating downgrades make sure that WMI cannot raise capital on a competitive basis and Federal Reserve has not guaranteed existence of WMI, which is not a member of the clearing house. Then rumors circulate in the grapevine about the FDIC contemplating seizure of WMI. This leads to some WMB depositors withdrawing their funds. The FDIC, Federal Reserve and Treasury are now scared. So is Congress. They are so scared that they have to now ask JPM to take over WMB’s assets and deposits by zeroing all other security holders (WMI equity and debt and WMB bondholders).
Private property is thus seized unconstitutionally and given away to JPM for pittance. JPM CEO, after 1.5 years of the seizure, brags before his shareholders about the immense value of WMI assets it brought for them: about $18 billion in annualized profits which amount to a present value of assets of $360 billion, by using even a very high cost of capital of debt (5%) employed in the acquisition, and by assuming no growth. Washington Mutual Bank was not in default at the time of seizure. The WMB bonds were fully protected with the scheduled coupon payments duly paid on time. WMB bonds would be protected fully even if WMB were not seized and stayed with its previous parent company. Washington Mutual Incorporated (the parent holding company of WMB) was not in default at the time of seizure. Even now, in the bankruptcy court, WMI is highly solvent with all WMI bonds trading in the market above par. That the WMI BOD has acted at the behest of JPM is obvious. On bankruptcy, the WMI BOD has appointed a Debtor’s attorney to propose a plan of reorganization by giving away significant assets of the bankrupt WMI estate to JPM to void any legitimate claim of equity in the estate.
So, JPM has accomplished its Project West plan, unconstitutionally, to grow bigger to dictate sharper terms to the Congress and Regulators, more vociferously than ever before.
WMB was solvent with much more than the minimum required capital, as per the testimony of its primary regulator, the OTS, signed by the FDIC. The FDIC now faces a legal suit from Washington Mutual Bondholders for about $20 billion. These bondholders are too taxpayers. Thousands of families, whose security holdings have been zeroed out due to the seizure, have lost their wherewithal to live or retire. Some of them have committed suicide.
Some have faced painful divorce. They too are the taxpayers. Should their possessions have been unconstitutionally seized? Such unconstitutional seizure and pervasive tragedy leading to depression is possible due to short selling within the current system of money and finance. Short selling creates shares to increase its supply (beyond the legally approved outstanding under the company law) to depress the price and rob the true owners of a company. Short selling is unconstitutional and illegal, yet it is permitted by the Security and Exchange Commission.

Sincerely,