Replies to post #416475 on Mr Cooper Group Inc (COOP)

[Jacked]

may 15, 2015??? wow...

[drrugby]

LG, It would be very nice it that were to occur.

But,

I will state the following.

Based upon current SEC filings and WMIH PR Releases.

We will be doing the following.

1. WMIH Will pay Preferred first interest payment in Late March.
2. Voting on Incorporation to Delaware by April 28th.
3. 580m$ of Preferred Shares will be converted by July 5th into Newco WMI Holdings to WMIH Corp (WMIH).

Based upon prior deals with FDIC and JPM they typically occur in at the end of the year in Nov rumor mill announcements are made in Mid to late Oct.

I hope your right.

I believe we will see the second deal 2 months after the newco conversion has been completed where we will then jump to NASDAQ.

Then the WMIH would have 600m$ of new equity leveraged at 20 to 1 PE rates thus increasing our market value and PPS.

GLTA.

GO WMIH GO.

DrR..

[fsshon]

LG. I understand this is an investment board, as I have read in a previous post of yours that you believe previous P holders will see 3-12 times par. Can you produce evidence/fact that supports this?

1. We know the BK court setaside funds to pay allowed claims as they go through the remaining claims process. That was only 2.2 Billion. Even if they disallowed all claims that does not even equal par on P's.

2. The FDIC is currently in litigation regarding the LIBOR rigging suits. 38 Billion is the number. We know settlements that have had to do with depression-era (2008) suits is coming in 7-9% of pleading amount. 38x.08= in the neighborhood of 3 Bill. Even if they can 10% that is under 4 Billion. There are 30 Banks as parties to this suit. Do the math.
FDIC is only concerned with WMB Bank Bondholders, not WMI Hold Co shareholders.

3. There is no evidence (at this time) that the FDIC withheld evidence/mortgages on behalf of the Hold Co from the BK court. Absolutely Zero. Yes. There is JPM off-balance sheet entry from JPM, but no explaination other than contributed to WAMU mortgages. Remember Chase purchased WAMU "lock stock and barrel." Which included mortgages and MBS. The only reason this entry was made was to show the FDIC that we (Chase) will not be contributing these funds as part of our Tier 1 capital requirements as part of the new reporting requirements under Dodd-Frank. We also will not be paying deposit insurance on these funds to you. Some believe Chase is holding WMI's funds via the FDIC holding the mortgages back from the BK court. That is Bankruptcy Fraud and many would be going to jail if it were true. Rosen was slick, but not that slick. You do understand that Weil, Gotvha and Mangle could not withstand a shareholder lawsuit if this was true. They filed Bk at 32 Billion. Explained below.

3. If WMI actually owned 100 Billion in Mortgages, then why sell potentially half the company to TPG for 7.2 Billion? Why not just liquidate 7.2 Billion in Mortgages in 2007 when the losses were so great to just simply shore up your balance sheet? Here's another law on Hold Co's. Remember how the 80% plus of all Hold Company assets has to be your banking sub or you can not file Income Taxes as a consolidated group. WMB was only valued at 32 Billion in 2007. That means hold co assets would have had to be 6-8 Billion in value of Hold Co or they could not file as a consolidated group or they (accountants) would commit tax fraud. When we took the tax loss for abandoning WMB it was 26 Billion. That makes sense right? WMI filed taxes for WMB as a "consolidated group." Look up the rules.

I can not see where even par to escrows is going to come from. Enlighten me please. In my next post I will put up the content of my discussion with my father and hopefully make the board understand how this conversation is playing out in the psyche of those who read this board "every now and then and not daily."

Cheers
Blue