Mr Cooper Group Inc (COOP)

[Large Green]

Cura Asada and Dmdmd1 On Same Page For Potential Distributions-Enjoy If An Investor Has Timely Signed Releases By 3/2012

Thanks goes to Dmdmd1 and Cura Asada for sharing their work


From Cura:

The reason for no distribution to Escrow holders is before or on the Closing Date, February 11th, 2023.

https://www.sec.gov/Archives/edgar/data/933136/000119312518045989/d539539dex105.htm

In my opinion, they had to complete the purchase agreement, and the 8K filed on February 10th, 2023, was a confirmation. We may see the Final Distribution to Escrow holders during the second week of April.

Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023, between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith

https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf

WMB Bk distr dates Feb 1 st, May 1 st, Aug 1 st, Nov 1st
WMI/WMIIC Bk Mar 1st, June 1st, Sept 1st Dec 1st

Litigation Trust Agreement

http://www.kccllc.net/documents/8817600/8817600120507000000000001.pdf


Exhibit No. Description Location
1.1 Distribution Agreement dated February 17, 2023, between
Wells Fargo & Company and the Agent named therein.
Filed herewith
104 The cover page from this Current Report on Form 8-K,
formatted in Inline XBRL.
Filed herewith

https://www.rns-pdf.londonstockexchange.com/rns/3568Q_1-2023-2-17.pdf

These are shares icw the February 12, 2020, $ 2.75 billion loan agreement, to buy outstanding equities that were merged into Nationstar

_____________________________________

From Dmdmd1:

IMO…I try to keep things simple these days, and I’ve learned a lot from this bankruptcy education :

1) I believe the $165 billion refers to the R-203 document, stating the off-balance sheet Private securitizations per JPM 10-k

2) I think they were all Deutsche Bank MBS Trusts that JPM only serviced.

3) THE FDIC-Recivership has no jurisdiction over these bankruptcy remote assets, and a FDIC lawyer stated that in a letter to a WMI shareholder. I contend that the delay in WMI recoveries is not due to FDIC-LIBOR litigations

4) WMI retained beneficial interests in these securitizations ($101.94 billion original face amount)

5) The “source” confirmed my valuation estimates and I think it also confirmed Alice’s valuations too.

6) The WMI recoveries are waiting to by distributed after some timing mechanism, some confluence of events. What that it is, has obviously been kept out of public purview.

7) Other than the FDIC-Receivership being open, there is no other impediment to WMI recoveries. So, common logic has me believing that it is the last obstacle. But I don’t think it is. I believe that WMI recoveries can start despite the FDIC-Receivership being open.

8. Everyone is waiting, and since the “source” confirmed the growth of WMI recoveries (since 2008 from $101.94 billion to $625 billion as of 2021), I think the big boys are happy that it isn’t dead money doing nothing.

9) eventually the WMI recoveries will start, and my WAG is in Q1-Q2 of 2023. The announcement might be as early as first week of April 2023 (deadline for proxy materials to be sent out prior to annual shareholder meeting in early May 2023).

10) IMO…one thing is for sure, every day we wait, the bigger the WMI recoveries grow.

I contend almost 99% of all MBS Trusts have been liquidated into cash by now, and since DSTs have to keep cash in short term obligations, it’s very coincidental that there is an inverted yield curve with respect to bond yields. This inverted yield curve is good for short term obligations!

https://www.investopedia.com/terms/i/invertedyieldcurve.asp

Excerpt:

“ Does Today’s Inverted Yield Curve Signal a Forthcoming Recession?
At the end of 2022, against a backdrop of surging inflation, the yield curve got inverted again.

As of Dec. 2, 2022, Treasury yields were as follows:

Three-month Treasury yield: 4.22%
Two-year Treasury yield: 4.28%
10-year Treasury yield: 3.51%
30-year Treasury yield: 3.56%

As you can see above, the 10-year U.S. Treasury rate is 0.77 percentage points below the two-year yield. That is an unusually large negative gap and the widest since late 1981—when the economy was pushed into a deep recession.”

_______

And US Federal Reserve stated that it will stop raising interest rates in May 2023.

So with the confluence of events above:

1) Inverted yield curve makes short term obligations more profitable

2) US Federal Reserve will stop increasing interest rates in May 2023

3) Mr. Cooper Group’s annual shareholder meeting in first week of May 2023

4) it would mean that if WMI recoveries start in May 2023 or June 2023, then all WMI legacy shareholders would have a lot of dry powder during a continued recession! Thus, all equities are at a severe discount!





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