Replies to post #412009 on Mr Cooper Group Inc (COOP)

[rockie101]

But Mr.Green I'm getting old when will this all end ?

[JusticeWillWin]

Large Green, WMI Investment Corp

http://www.crmz.com/Report/ReportPreview.asp?BusinessId=2242

All of the banking assets of WMI were sold to JPMorgan Chase Bank, N.A. (“JPMC”) by the Federal Deposit Insurance Corporation (“FDIC”) prior to the Bankruptcy Petition Date and all of the securities and investments held by WMIIC were liquidated and the value distributed in connection with implementing its emergence Plan.

Business Summary
WMI Holdings Corp., formerly Washington Mutual, Inc. is a holding company. The Company is a parent of WM Mortgage Reinsurance Company, Inc. (WMMRC), and WMI Investment Corp (WMIIC). As of December 31, 2013, it had no operations other than WMMRC’s reinsurance business with respect to mortgage insurance. As of December 31, 2013, WMIIC does not have any assets or operations.

[WithCatz]

Huh? Which WMI Investment Corp assets are you talking about.

WMIH themselves say:

From the WMI 10k:

WMIIC does not currently have any assets or operations and is fully eliminated upon consolidation. Prior to September 26, 2008, WMIIC held a variety of securities and investments; however, such securities and investments were liquidated and the value thereof distributed in connection with implementing the Plan.

And the DS/POR says:

https://www.kccllc.net/wamu/document/0812229111212000000000005

PDF Page 72 - "After the Petition Date, the Debtors were required to liquidate the $266 million of investments held by WMI Investment to comply with section 345(b) of the Bankruptcy Code, which governs investment requirements for bankrupt companies. The conversion of these assets to cash was disclosed in the Schedule of Cash Receipts and Disbursements included as part of the MORs filed with the Bankruptcy Court and the SEC with respect to November 2008 through December 2008, as “Cash Receipts” from the “Sale of Assets/Securities.”"