Mr Cooper Group Inc fka COOP

[ron_66271]

My Post on FNMA. The Same Applies to Us.

“F&F Will be a Beneficiary not a Captive in SWF.

TBTF owes F&F $60 Billion minimum to cover the losses at 11.9% (Globic). That is just from what they bought from WMB!

According to the FDIC; “WMB Securitized Two Trillion in RMBS of which $500 Billion was sold to F&F.”
F&F bought securities (bonds/preferred) that paid two dividends and one Performance Payment.
The dividends stopped, but the Performance Payments are accumulated in a DST.

The Performance Payment accumulation is calculated to be approximately 2.2X face value of the securities.
$1.1 Trillion to F&F from the purchase of WMB securities ($500B*2.2).

The JPS operates the same way. Therefore the JPS are satisfied.

According the the US Treasury in 2008; $13 Trillion in residential mortgages. True not all of the mortgages were securitized into notes, but this doesn’t account for the Commercial Mortgages.

$13 Trillion at 11.9% loss ratio is $1.56 Trillion.
TBTF owes $1.56 Trillion to RMBS/CMBS holders to cover losses of their securities.
That debt has not been paid.

TBTF Warrants to SWF because TBTF doesn’t have the cash.

JPM wrote 57% of the 2008 Derivative Market Notables.
Therefore $889 Billion.

F&F has paid off the governments SPS Claim.
No reason to exercise the SPS warrants.”

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Ron