Replies to post #401796 on Mr Cooper Group Inc fka COOP

[Maniek]

Man, you rock! GLTY!!

[Bizreader]

Whoop, there it is!

[jhdf51]

Great post..I agree.

JHD

[Milk Duds]

Terrific post.

It was always puzzling to me why Sussman only showed up in court that one time. I knew it couldn't have been for something minor.

You've laid out a very logical explanation.

I was about to say we may never know what actually went on behind closed doors. But if we see a large return on our "escrows", we kind of will know--and you were probably right!

[Olti]

I love your DD and honestly the problem is at Sussman ad Willingham behavioure as they are the ones to start the fight and make the whole case turned around.Arent we entittled to know Sussy and Willy dont care to start thinking to make a claim against Either JPM or FDIC for those BONDS which are to Big to not be fight For?

[Juschilln]

Your post really make me tingle all over!

[xoom]

THAT Tanjazielman.. is one of THE best posts on this board.....
No rebuttals needed....

Thank you.....

[sometimes_right]

ONLY $26.3B are sub-prime loans...approximately 4% of total mortgages WaMu processed??? And only a fractional amount of sub-prime loans were foreclosed??? WTF... that's almost approaching historical average default rates... WHERE'S THE CRISIS HERE???

http://seattletimes.nwsource.com/ABPub/2008/09/25/2008204177.pdf

OTS Fact sheet for WAMU as of Sep. 25, 2008 states:
"Total loan servicing: $689.7 billion total loans serviced, including $442.7 billion in loans serviced for others and $26.3 billion of subprime mortgage loans"

[The Yogi]

THANKS FOR THE Wonderful DD AND EXPLAINATION(S)!!!!! EOM.

[Donotunderstand]

Tanjaz
LG
?

ok - one can see what you all present

now - for a moment - assume - please - escrow gets nothing

which of you hires what lawyer - given the amount is > 100B

would not some law firm take it on contingency

which ones have any of you contacted ?

[investorhub123]

Post of the day......you have really painted a masterpiece this time..... It's what many of us have thought as we read between the lines as we followed the court case and you have given persuasive facts to back it up.

Hopefully, this saga ends soon.....

Love the great DD being done on both sides of this argument.......BK, Donut and Catz, I believe the ball is in your court.....

[fsshon]

Excellent Post Taz. Thanks for the info, it looks like there is a huge chunk of assets sitting at FDIC-R that were the "off-the-books" type. All I can say... "We will see what is up with all of this in the future."

One thing to keep in mind. When we went after the "Hoffman seal motion" in the bankruptcy court, we had a very hard time finding a lawyer to handle the case because every lawyer in the area who practiced bankruptcy law had a "conflict of interest." either with JPM or all the other firms and creditors in the case. Charles Brown was the only one in the area who could handle the Motion by Hoffman. JPM had most of the firms "locked up."

I believe the answer to all of this lies in a vault in the Bankruptcy court that contains the sealed documents.

Hopefully someday we will read those docs! :-)


Cheers

[Large Green]

tanj, another great post with factual evidence. Please keep up the excellent due diligence. The following few words below will explain what has been going on since the final posting and tweaking of the final POR7 by the court literally days to hours before court approval by design.

This is where the Matrix payout was changed for reason allowing equity to receive all left-overs and ensuring the the final receiving end was indeed equity. Again, thanks goes to Willingham/Susman team.


Creditor Investor = NO ESCROW SHARES
___________________________________________________

Equity Investor = ESCROW SHARES

IMHO, this explains what has been going on with all of the conversation regarding escrow share account owners receiving "COMPREHENSIVE PAYOUT" or not.

Have I discussed lately how much I LOVE MY ESCROW SHARES?

[mad4]

Awesome DD and facts! I have always believed that WAMU would give me a comfortable nest egg and I still do. I rarely post, but I follow daily, and without a doubt I am hoping that LG and yourself are right and know that justice should be served, even if it takes a while. Thieves and scoundrel like JPM will never have my business. They should be ashamed of the difficulties they have made thousand of investors pass for their greed and inhuman moral character.

[Large Green]

tanj, thank you very much for this VERY informative post and yes, to answer your question and others that have asked, I will repost the following.
____________________________________________________
Here is the difference in the WaMu case:

THEY WERE CAUGHT...THEY WERE CAUGHT...THEY WERE CAUGHT!!!

WaMu was CLEARLY a SOLVENT CORPORATION WHEN SEIZED

INSIDER TRADING...INSIDER TRADING..."CORLORABLE" by the COURT!

Two Months of MEDIATION...SEALED DOCUMENTS GALORE and MORE!!!

Six years worth of blacked-out worldwide communication!!!
_______________________________________________________
Now when the Hedge Funds could have avoided a federally court issued mandate trial for insider trading - does it seem rational that these people would have put their license on the line, their standing in society and potential prison time for a handful of tax attributes in a supposedly fifty cent worthless shell company? The answer is a RESOUNDING NO - They were after FAR MORE and we have basically found what they were really after. I had said years ago it would have to be a VERY LARGE CASH PILE and it appears to be even MORE BILLIONS than I imagined IMHO.
____________________________________________
CREDITOR INVESTORS EQUAL ZERO/FEW TRUST MARKERS
++++++++++++++++++++++++++++++++++++++++++++
EQUITY INVESTORS EQUAL an ABUNDANCE of TRUST MARKERS


HAVE T TOLD YOU LATELY HOW MUCH I LOVE MY ESCROW SHARES?

[W3Research]

T, thanks for that very interesting Post. Seems to show that there truly was a "smoking gun" in this case and Susman found it. Now all we have to do is wait for the compensation funds to appear in our Preferred Escrow Share Accounts, hopefully sooner rather than later. What is everyone's opinion?

[955]

"It's all over"

"He could have gotten more" (about Susman)

BK shadow,

Let's resolve this once and for all.

You're talking about a net increase of $225,823M in loan value from 2007 to 2008.

The increase you come up with is INCLUDING WHOLESALE LOANS. As we all know those are NOT considered PORTFOLIO LOANS!

Look at this one, one more time:



If we look at consumer loans (after all that's where we are talking about, loans in PORTFOLIO and NOT the WHOLESALE loans) the net resulting difference is only:

482B minus 306B=176B

Look further and you'll see 20B of this difference is explained by an increase of 20B in credit card loans (which mostly comes from WaMu).

176B minus 20B= 156B difference

Of which 81B is coming from WaMu (in the form of the so called PCI loans, see below)

According to JPM's filing found here at page 32 under PCI loans, look at 2009 figures (there are no values to be found from 2008):
https://www.jpmorgan.com/cm/BlobServer/New_Zealand_bankstats10.pdf?blobkey=id&blobwhere=1158634493600&blobheader=application/pdf&blobheadername1=Cache-Control&blobheadervalue1=private&blobcol=urldata&blobtable=MungoBlobs

81B is the combined total of PCI loans in 2009 (vs. 69B in 2011).

As I explained in my previous post these PCI loans, which are pooled together and accounted for on a separate basis, are coming from WaMu through FDIC receivership.

81B in 2009 reported by JPM vs. 244B in 2007 reported by WaMu.

Let that sink in for a moment...

You're telling me 244B in assets from 2007 is devalued to a mere 81B in 2009?

I'm not gonna believe that.

What I do believe, purely by breaking down the numbers from the PCI loan breakdown, JPM took over half of the home equity loans, and almost all prime and subprime mortgages from Wamu. But no mention whatsoever about the home loans!!!

The actual first mortgages! WORTH 110 BILLION DOLLARS
according to this document in 2007: http://faculty.washington.edu/rbowen/cases/WaMu_case_10_08.pdf.


110 billion just went poof on the books.... Some shady accounting here.....

JPM doesn't have them on the books (PCI loans don't exceed 81B).

FDIC doesn't either.

WMI LT doesn't either.

OK those were the COLD HARD FACTS...

Now for some fun:

Someone is holding back assets!!

Can you say SMOKING GUN?

"It's all over"

"He could have gotten more" (about Susman)

Susman and EC got air of this, and confronted Walrath AND Rosie with these assets that were held back. All this on a beautiful day in 2011, in Walrath chambers, with only those three people present.

IMO Susman did them a huge favor for the sake of their professional careers, by discussing it in chambers and not on the record! Think and ponder about that one for a bit....


That's why their faces, according to eye witness records, saw a little bit scared and white. Can't blame them right?

Which made EC's seats on the mediation table very comfy.

Hedgies had the opportunity to walk away from murder, while caught in the act to sell the body for organs, but had to return their stolen house and 2/3 of the money on their bank account.

Sounds like a good deal. Hedgies don't go to jail, got a bit for their PIERS, and escrows make BIG FAT MONEY.

That's why PIERS were deemed popular just before reorganization.

That's also why buying of commons and preferred went on in big volumes even after the voting deadline with the ultimate risk to end up with shares you cannot sell (and haven't been sold!!)

That's why escrows are IMHO...

...BWTFDIK....

where the big money sits!

Case closed.

PS. I can post only once daily, so gotta make em count I guess ;)

[tzebedee]

3 years ago tanja?>? holy shnit

[W3Research]

TJM, As always, Outstanding DD that is truly helpful. Cheers!

[tony_t]

tanjazielman



BK shadow,

Let's resolve this once and for all.

You're talking about a net increase of $225,823M in loan value from 2007 to 2008.

The increase you come up with is INCLUDING WHOLESALE LOANS. As we all know those are NOT considered PORTFOLIO LOANS!

Look at this one, one more time:



If we look at consumer loans (after all that's where we are talking about, loans in PORTFOLIO and NOT the WHOLESALE loans) the net resulting difference is only:

482B minus 306B=176B

Look further and you'll see 20B of this difference is explained by an increase of 20B in credit card loans (which mostly comes from WaMu).

176B minus 20B= 156B difference

Of which 81B is coming from WaMu (in the form of the so called PCI loans, see below)

According to JPM's filing found here at page 32 under PCI loans, look at 2009 figures (there are no values to be found from 2008):
https://www.jpmorgan.com/cm/BlobServer/New_Zealand_bankstats10.pdf?blobkey=id&blobwhere=1158634493600&blobheader=application/pdf&blobheadername1=Cache-Control&blobheadervalue1=private&blobcol=urldata&blobtable=MungoBlobs

81B is the combined total of PCI loans in 2009 (vs. 69B in 2011).

As I explained in my previous post these PCI loans, which are pooled together and accounted for on a separate basis, are coming from WaMu through FDIC receivership.

81B in 2009 reported by JPM vs. 244B in 2007 reported by WaMu.

Let that sink in for a moment...

You're telling me 244B in assets from 2007 is devalued to a mere 81B in 2009?

I'm not gonna believe that.

What I do believe, purely by breaking down the numbers from the PCI loan breakdown, JPM took over half of the home equity loans, and almost all prime and subprime mortgages from Wamu. But no mention whatsoever about the home loans!!!

The actual first mortgages! WORTH 110 BILLION DOLLARS
according to this document in 2007: http://faculty.washington.edu/rbowen/cases/WaMu_case_10_08.pdf.


110 billion just went poof on the books.... Some shady accounting here.....

JPM doesn't have them on the books (PCI loans don't exceed 81B).

FDIC doesn't either.

WMI LT doesn't either.

OK those were the COLD HARD FACTS...

Now for some fun:

Someone is holding back assets!!

Can you say SMOKING GUN?

"It's all over"

"He could have gotten more" (about Susman)

Susman and EC got air of this, and confronted Walrath AND Rosie with these assets that were held back. All this on a beautiful day in 2011, in Walrath chambers, with only those three people present.

IMO Susman did them a huge favor for the sake of their professional careers, by discussing it in chambers and not on the record! Think and ponder about that one for a bit....


That's why their faces, according to eye witness records, saw a little bit scared and white. Can't blame them right?

Which made EC's seats on the mediation table very comfy.

Hedgies had the opportunity to walk away from murder, while caught in the act to sell the body for organs, but had to return their stolen house and 2/3 of the money on their bank account.

Sounds like a good deal. Hedgies don't go to jail, got a bit for their PIERS, and escrows make BIG FAT MONEY.

That's why PIERS were deemed popular just before reorganization.

That's also why buying of commons and preferred went on in big volumes even after the voting deadline with the ultimate risk to end up with shares you cannot sell (and haven't been sold!!)

That's why escrows are IMHO...

...BWTFDIK....

where the big money sits!

Case closed.

PS. I can post only once daily, so gotta make em count I guess ;)

[austin01]

How would the releases apply to going to court to request an audit of JPM's and FDIC's books on this matter, if need?