Replies to post #411037 on Mr Cooper Group Inc (COOP)

[WithCatz]

LG -- absolutely not. It is straight forward:

There have been suggestions/theories made that there still are items that are due back to the estate or shareholders (am not sure exactly what is meant by the difference)

And those - to my knowledge - have not been summarized for understanding.

And since I, and many many others, have significant escrow holdings - it was desired - again, by me and several others -- to gather it all into one place. To understand what the 'theory' is all about.

I have no legitimate 'standing' to make any motion. Nor the financial resources to do it. Nor, most importantly, any desire to.

It's all stuff that's been discussed, on the boards, and is "out there".

Besides, if the 'theory' is correct -- there is absolutely NO NEED to make any filing. It'll all be 'automatic' as it's the FDIC process.

Right?


...Catz

[go_wamu]

LG
...the best I'd ever read!

[fsshon]

1. WMILT can be capitalized with funds returned from the Bankruptcy court in the near future, as the claims are heard and either disallowed or allowed, the $$$$ that are in reserve will come back to the WMILT.

2. The D&O claims have been settled, the funds from them will flow back to the WMILT

3. The leftover tax claims in state and local jurisdictions that are still pending, the funds from the recovery there, will flow back to the all parties to the GSA.

4. FDIC-R can not and will not return any $$$ (at this time) to the WMILT once the claims against the receivership are settled. If funds are leftover after the WMB bondholders are made whole, the administration fees for the receiver will need to be paid and then anything leftover can come back to the WMILT.

5. Many here believe there are mortgages owned by the holdco, that will capitalize WMILT, I do not believe this and I do not expect the FDIC to return "one red cent" to WMILT. There are currently no filings that even get close to the number needed to get a dollar to WMILT. Also, WMI released all claims to the receivership in the abandoned stock filing. That means "All!"

So, in essence to be practical and realistic. Funds returned to the WMILT will come from "current filings in the bankruptcy court." In terms of anything above that, the LIBOR may return a little, but FDIC-R has stated "they are only concerned with capitalizing the bank bondholders." That is what they will do. JPM is responsible for Deutsche, but that is a MBS issue and not a bank bondholder one.

Bkshadow has done a good job of posting facts that help one to see the "light through the tunnel" when it comes to the future. It is not the FDIC-R that's for sure. Someday this will all come to fruition and many on here, will be wondering what happened. It is not the US Trustee who motions to close a bankruptcy, it is the debtors attorney.

In time, the musings on this board in terms of escrows will cease and the focus can be turned on the real future "WMIH"

Like I have said for years now, I do expect a recovery through the bankruptcy court and I expect the PIERS will be paid-off in the next couple of months. WMILT has publicly stated they do not intend to file any suits against the players, they originally intended to. The litigation will soon cease, because the discovery has proven much more than they originally thought in terms of liabilities from other parties in WMI demise. WMI was not innocent and the FDIC had the OTS seize all including the holding company, because the FDIC determined through their own discovery before the seizure that the "corporate veil" had been pierced and WMI and WMB were basically "one in the same" so that allowed BAIR to seize the holding company too.. Now is it possible there are WMI assets held outside the BK process? Yep, it is also possible they have all been sold to help with capitalization of WMB bondholders. It is also possible, the FDIC-C still has them in a lockbox. I do not have the answer to this, because there are no filings to substantiate the claim to such.

Cheers
Blue