Mr Cooper Group Inc (COOP)

[ron_66271]

I’m Open for Discussion. LIBOR Numbers.

Please remember that LIBOR is an adjustment for losses due to the manipulation of the interest rates regarding the Derivative Market Meltdown.

A start point;
According to the FDIC; “WMB securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F.”

For discussion: let’s say that the LIBOR manipulation is just a half of a precent. .5%.

Plus remember that the losses are covered by the derivative insurance contracts at no loss to the notes.
.5% plus the losses are paid back.

$1.500 Billion x .005 = $7.5 Billion losses to investors in these WMB insured Notes.

WMI/WMB was required to hold 15% minimum of their offerings.
$7.5 Billion x .15 = $1.125 Billion. This should be annual.

Please see PDF 3;
The action period is August 2005-> 2007 then to 2011

https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/Exhibit-3-Corrected-Plan-of-Distribution/nysd-1:2011-md-02262-04029-003

It’s basically all settled.
Upstream Issues is about criminal penalties.

Yes the FDIC is asking for ~$400 Billion regarding the seized banks losses.

WMI sued the FDIC for $307.2 Billion “WMB and it’s assets “.
The FDIC and JPM lost.

We read ‘$86 Billion for WMB’.
True statement for WMB alone.
Those estimates are only based on WMB’s revenue stream.
No reference to the assets of WMB like WMBfsb with ~$50 Billion in deposit’s and ~$50 Billion in cash, and other Assets.

I’m only discussed the RMBS. What about the rest of the ABS generated by Washington Mutual?



Ron