Replies to post #409627 on Mr Cooper Group Inc (COOP)

[clawmann]

I think one needs to look at an itemized description of the concerned assets and the value assigned to each at that time to get an understanding of how they arrived at that figure of 32 billion.

A thing's value is not static; it changes.

[gjw46]

Providian Financial was acquired by WMI in 2005 for around $4.5 bil and today Providian is a subsidiary of JPM. IMHO If this was a WMI subsidiary then it should be returned to the debtors or paid for at market value. Am I getting this wrong? G

[tanjazielman]

Nice JWW!

The 24.7B figure is very good.

But what about the billions in collected interest from former WaMu-mortgages over more than 6 years, serviced by JPM?

It says so black and white in the P&AA (section 3.2).

And the bylaws of the FDIC state that any surplus will flow to former shareholders (minus the part that will flow to the Bondholders)