Replies to post #411004 on Mr Cooper Group Inc (COOP)

[Large Green]

Bk, you are correct in that the bankruptcy case through tranche four which include Piers will conclude with Piers either paid in full or left somewhat impaired to give the bankruptcy case some credibility. Since all Creditor claims will be totally finished at this point with Escrow Shares showing zero return here, this is the point the US Trustee will file a "Post-to-Close" and the all parties will sign off and the court will approve. This is the actual end of the bankruptcy case...The end and then the following happens.

Tranches 5/6 will be worked along with the reconciliation process with the FDIC/JPM where there will be HUGE value returned from assets that were taken, court registry accounts, over-funded claims and far more for starters all in my opinion based on FDIC mandated processes that have been posted.

[boarddork]

Absolutely incorrect. FDIC policy addresses when and how to inform claim holders their claims are worthless. It's called a "worthless determination letter/notice." Indymac got one sixteen months after failure.

Determination of Insufficient Assets to Satisfy Claims Against Financial Institution in Receivership, 74 Fed. Reg. 59540
Google it." (m_r2000)

Has WAMU got one yet? Nope!,,,,,6 years later, the fdic is still reconciling the WAMU $300Billion RECEIVERSHIP....cha-Ching. There will be enough left over for those who released. Stay tuned Observer.

God I frickin love my escrows. Happy Life Changing Event. I feel sorry for any PIERS holders who were 'guilty by association' when the main class holding SNH's greed and Inside Trading changed the pay matrix hierarchy.

[hotmeat]

"In this receivership, they are $11B short out of the gate, JPM has 31 claims for billions to date and the Deutsche Bank $13 billion isn't even there yet. Cowboy down."

(1) JPM claims? Provide one example where JPM has prevailed against the FDIC with these frivolous claims? They were in essence paid to takeover WMB(negative goodwill purchase)and have been reaping the rewards ever since -$XX Bil. Cowboy up

(2) Deutsche bank is suing JPM for their claim not the FDIC. As a matter of fact, they even have the backing of the FDIC against JPM -$13 Bil. Cowboy up

(3) IF and I repeat IF the WMI estate is declared as a CREDITOR of WMB by the FDIC as they clearly assert in multiple filings(remember the $500 Mill down streamed to WMB just prior to seizure ie subject of the possibly new D&O suit?) then they will move ahead of the bondholders(some/all???)in terms of payment -$11 Bil. Cowboy up???

Can anyone confirm #3 in terms of payment priority?. I am a bit fuzzy on the payment structure.

[deekshant]

Bk, I love and respect your presentation with facts in support of how you want others to see. Its a lawyers speak regardless of who’s side he is on. Hardly convincing otherwise who fails to address what's not given that has been shown to exist. I only wish you had rendered a helping hand beyond what is given with your level of expertise and comprehension to cover the whole as against in parts

Peace and thank you!