Mr Cooper Group Inc (COOP)

[ron_66271]

Because Stuart Landerfield in the first First Filing Said So.

BK-28.

Stew said that no one can see the assets of WMIIC other than himself, the Judge, and WMI Counsel/WGM/Rosen. Basically a Direct statement in the first document!

Even The WMI BOD was bared from viewing the assets of WMIIC. Therefore Nelson was also bared from discussion regarding WMIIC and it’s assets.

Possible simple numbers;
WaMu securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F.
The securitizer is required to hold a minimum of 15% of their offerings.

$1500 Billion x .15(15%) = $225 Billion minimum.
The losses are covered by the derivative contracts.
Hence: LIBOR.

WMIIC is a sub of WMI not a sub of WMB. The BK filing is the proof.

Please remember that investments are liabilities until liquidation.

WaMu is the FDIC’s way of being ambitious as to WMI/WMB.



Ron