Mr Cooper Group Inc (COOP)

[JusticeWillWin]

"60x par to each Class 19 security and approximately $125 per Class 22 security..."

For sure *lol*!
Then I'll be a high double digit millionaire, and here are people with more Ps and Us than I own...

The shockers of all shockers

"The MBS
21. In late 2019 Plaintiff received information from another Legacy Holder in communication
with an employee of a major securities broker (the “Source”). The Source stated that when
Plaintiff’s federal appeals are finally adjudicated and the Trust dissolved,3
Mr. Cooper will
distribute Mr. Cooper Stock to Legacy Holders. The Source stated that defendant Mr.
Cooper is in possession of approximately $550 billion in mortgage-backed securities and/or
mortgages owned by WMI or the Trust (the “MBS”) which assets are subject to interests
of Plaintiff and other Legacy Holders.
22. In early April 2021 the Source stated that all the MBS would be given to Mr. Cooper by
June 30, 2021 and that the Mr. Cooper Stock disbursed by various brokers. The Source
further said that Mr. Cooper was obligated to report receipt of the MBS in its ’34 Act filings
in the same quarter as the date of receipt but did not do so while Plaintiff’s Third Circuit
litigation with the Trust survived and is planning to disburse the Mr. Cooper Stock
regardless of the Final Decree. The Source was told that: “Griffin will be surprised.” The
Source indicated that Mr. Cooper’s management was very anxious about fulfilling its ‘34
Act regulatory reporting requirement with respect to the MBS. The Source also indicated
that the value of the MBS had increased to about $600 billion.4
(The current value is
unsurprising given the total MBS retained by WMI in its securitizations through 2008
totaled approximately $135 billion according to archived WMI ’34 Act filings.) 5 Further,
3
Pursuant to the final decree closing WMI’s chapter 11 case dated December 20, 2019 (the “Final Decree”), the Trust
is prohibited from dissolving until Plaintiff’s appeals are exhausted.
4
To illustrate the impact of the MBS, for each $10 billion recovered each Class 19 security receives par and each
Class 22 security receives approximately $2.10. Therefore, by Plaintiff’s estimate the $600 billion in MBS would
provide as much as 60x par to each Class 19 security and approximately $125 per Class 22 security, both payable in
Mr. Cooper Stock.
5
During her appeal before the District Court Plaintiff reviewed WMI’s ’34 Act filings from inception of its mortgage
securitization scheme until the end of the last reporting quarter before its two banking entities were seized by the
Case 1:21-cv-04554-GHW-SN Document 1 Filed 05/20/21 Page 7 of 26
8
the Source stated that in addition to the Mr. Cooper Stock, Legacy Holders will
contemporaneously receive a cash payout of 2.5x par.
23. The Source further revealed that circulating within his/her enterprise was an internal
memorandum listing the names of Legacy Holders, their holdings, and indicating these
persons would be treated as private wealth clients rather than retail clients once they
received the Mr. Cooper Stock.

gov.uscourts.nysd.560703.1.0_1 (1)