Replies to post #481831 on Mr Cooper Group Inc (COOP)

[bkshadow]

ReikoBlack, yep, Long Beach Mortgage Co has...

...nothing to do with WMIH.

...also, nothing to do with WMILT.

...it was an acquired subsidiary of WMB in October of 1999.

https://www.publicintegrity.org/2009/05/06/12991/no-5-subprime-25-long-beach-mortgage-cowashington-mutual

...for informational purposes, WMB was seized by OTS in 2008, placed into receivership of the FDIC, which simultaneously sold such WMB assets to JPM.

https://www.fdic.gov/bank/individual/failed/wamu_settlement.html

...as an FYI for investors, banks that packaged and sponsored (sold) mortgage backed securities (bought by investor trusts by payment to the sponsor selling bank), don't get paid for them a second time (i.e., not coming back).

...the banks, WMB and subs, do have retained interests in such if the mortgages in the series and tranches perform better than prospectus; and such is recorded and fair valued on the balance sheet and income statement monthly.

...as such, they "are on the books."

...they are not "off balance."

...and such assets of WMB were seized as per the above.

...EOS.

...EOF.