Mr Cooper Group Inc fka COOP

[ron_66271]

Because the Credit Default Swaps

Haven’t Covered The MBS/RMBS Trusts Losses yet.

That is what LIBOR is all about.

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

• Globic; DB as Trustee for ~$625 Billion WMB RMBS.
• $13 Billion in WMB EURO Notes.
• $4 Billion TPS.
• $3 Billion Series R.
• $.5 Billion Series K.
• Other?

That accounts for $645.5 Billion.

$2,000 - $645.5 Billion is unaccounted for. Sort of!

The MBS pools were over stuffed with loans. Therefore the bank WMB never needed to supply put-backs to the pool.

The WMI senior notes were simple debit and not backed by assets and paid.



Ron