Replies to post #428038 on Mr Cooper Group Inc (COOP)

[bkshadow]

There aren't $151B in assets belonging to WM...

...as the matter has been thoroughly explained.

Part of what JPM bought was WMB's "servicing rights" of Mortgage-Backed Securities that were bought by investor owners in series and tranches in trust notes (in which WMB was PAID for the MORTGAGES sponsored, i.e., sold); such as the $165B in Trusts administered by Deutsche Bank subject to the litigation by the Deutsche Bank Trustee "on behalf of the investor owners" for the "put back" or "repurchase obligations" for the underperforming WMB loans they BOUGHT.

These "Repurchase Obligations" are off-balance sheet liabilities (not assets). JPM disclosed that they did not increase the reserve for loss for such off-balance sheet liabilities as they thought they (the "Repurchase Obligations" the "off-balance sheet liabilities") belonged to the FDIC-R. They appear mostly right per the Court's ruling.

[PickStocks]

Just like the 30 billion JPM may have it documented as being owned by WMI but in the end will go on the ledger of JPM nothing coming back......It may have already been hijacked as there is no cash......