Replies to post #466141 on Mr Cooper Group Inc fka COOP

[muyuan51]

If you have a look at the Voluntary Petition (VP) - WMIIC Statistical/Administrative Information (SAI), you will see that the Estimated Number of Creditors are in the ticked-off box 1 - 49 !

If you go to pg. 6 & 7 of this VP - WMIIC
LIST OF CREDITORS HOLDING 20 LARGEST UNSECURED CLAIMS, you will see that Stewart M. Landefeld EVP, on page 6 confirmed that there was ZERO, NULL, ZILCH Creditor and (smile, smile) on page 7 declared under perjury that he had read the foregoing List of Creditors (ZERO, NULL, ZILCH), see pg. 6 and that the list was true and correct ....

If you have a look at the VP - WMIIC, SAI, you will see that the Estimated Liabilities are in the ticked-off box $ 0 - $ 50,000 !

You are right that in the VP - WMIIC, SAI the Estimated Assets are in the ticked-off box $ 500,000,001 - $ 1 billion !

Perhaps they did it, if you wanna have a look at VP - WMIIC
Chapter 11 Debtors, so that they could mark the square "Debtor is not a small business as defined in 11 U.S.C. § 101(51D) !

To your "$40B hypothesis": Here is what I was writing in fact:

I was playing a little bit with numbers ... any idea about the value for every single WAMUQ - ESCROW if for example
$ 40,000,000,000 are acquired from dissolving parts of WMIIC ?

Next !

[boarddork]

imho, the FDIC eceivership interrupted the relationship between WMI and WMI INVESTMENT (WMIIC) and any current or future asset certificate income from securities, until a later point in time. . The receiver seized both 1) bank and 2) holding company/subs/assets at the same time.

The balance sheet on the FDIC website is for the bank, not including the entire holding company. Any mortgage related assets in receivership situations, whether the bank, the holding company and its wholly owned investment subsidiaries, including all ABS, MBS, RMBS, REMICs, etc., are held by FDIC mandate - through bridge bank or other temporary options, OFF-Balance sheet in safe harbor and legal isolation, within each securities 'ring-fenced' special purpose vehicle LLCs. i.e. WMI had 3 separate Thackeray LLCs during BK, which became - a still active in DE, Thackeray III Bridge LLC.

The FDIC has no legal permanent ownership of any WMI or WMIIC assets, and once the resolution and receivership of WaMu the bank is reconciled, any residue must be returned to WMI or WMIIC respectively + 8 years compounding interest.

Assets of WMI and WMI Investment reported at initial BK filings #2, and #1 respectively, would reflect the current balances after the FDIC temporarily stripped them from their holding LLCs, and placed them in safe harbor and legal isolation purgatory. WMI and WMIIC in that snapshot of time, really didn't have anything to report, it was just taken. And in our current snapshot of time, there is still nothing to report until the FDIC receiver reconciles the WHOLE estate......Bank, Holding co parent WMI, and WMIIC.

The battle became who would eventually own and inherit the legacy Washington Mutual estate. Fight and Win to own the parent WMI (equity wasn't expected to make it. but we did), and you get to own the downstream legacy residual assets. The fight wasn't largely for WMI itself, it was technically and quietly for WMI INVESTMENT.

This was Bankruptcy genius, imo.