Replies to post #413066 on Mr Cooper Group Inc (COOP)

[bkshadow]

The FACTS are right there in B&W...

...and, when looking at ~

1. The Amended Petition

2. The Original Petition

3. WMB's Net Assets @ FDIC Inception

...one can easily see the BOOK VALUE of the WMI Investment in WMB, "subtract it from WMI's petition filing total assets, and get a real good idea of the "NON-WMB Assest" that WMI had.

The Abandonment Motion and the worthless stock loss deduction was almost $9B, however it was pro-rated in accordance with IRC to the $6B.

The reason why it was down to $9B was, because of the loss by WMB on it's seizure (selling price of zero; the FDIC-R got the money, not WMI or WMB) it took massive losses. HOW MUCH? Simple, it's Net Assets at the inception of the receivership. That is what generated the massive NOL 5-year carryback tax refunds thereafter (on a TAX versus BOOK basis).

Simple math from there on out. The difference, $4B in deposits and the net liquidated value of the Non-WMB subsidiaries "at that time." Later, tax refund would modify that number.

And it is exactly the point of why the original petition "WAS AMENDED."