Replies to post #406248 on Mr Cooper Group Inc (COOP)

[investorhub123]

Isn't that where the NOL's came from, the stock abandonment?

[David West]

...with respect to the WMB Stock to the FDIC...

WMI owned all (100%) of the WMB Stock. They petitioned the court for permission to abandon the stock, knowing the act would generate a large amount of NOLs. The "creditor" angle was referring to a loan made by WMI to WMB. Different animals. Is WMI a creditor? It is possible. More information is needed before certainty is assured.

[zeus_0100]

Yes, what you say is true. But remember, the stock was deemed worthless, to WMI, because of the TAKING of WMB. Now that has nothing to do with the damages caused by the FDIC that was outlined in that footnote. It was termed a "TAKING", and CONVERTED, meaning effectively, STOLEN. Also, violated the 5th amendment I believe. This is the point that seems ambiguous to me.
REmember, WMI had already downstreamed big money to WMB, and they never got it back, so that alone makes WMI a creditor, no?

[BBANBOB]

"abandon all rights, title, and interest with respect to the WMB Stock to the FDIC".


all fine and dandy

That is not being disputed here at all , it is being question WHAT was WAMU's ,JPMC HAS OUR CORP BOOKS , one must ask themselves WHY do they hold our books? The books tell the story and show CHAIN

Did the Bank's WMFS and WMB own WAMU (PARENTS/HOLDING CO') corp offices? Or the Loans OR the 4.7 bill demand deposit acct IN WAMU 's name,The BOLI/COLI , wind farms ,visa shares, aircraft


This has always in my eyes been a taking case or one of a conversion of assets.