Mr Cooper Group Inc fka COOP

[mwd44]

Hotmeat- I re-read the report as you requested. I think it is best I answer your last statement first. You said, "if the retained assets were actual assets the LT, by law, would have had to report them since 2012....Clearly they didn't.

You are correct in saying "clearly they didn't." However, You are incorrect in saying "by law, the LT would have had to report them since 2012."

The retained assets, as with all of the MBSs, are in a trust. By law, when assets are placed in a trust,the trustee assumes temporary ownership and the owner becomes the beneficiary. It is this feature that makes them BK remote.

As it pertains to evaluating the retained assets, I didn't see anywhere in your references where he says he evaluated them. There is a lot of talk about equity being out of the money. However, nothing concerning the evaluation of those particular assets. However, I did see an evaluation of the retained claims. But, as I am sure you know, that is something different.