Replies to post #483302 on Mr Cooper Group Inc (COOP)

[mypenneys]

That was a Great Post by LuckyPanda
Thank You very easy to understand.

[willie424]

nice synopsis-thanks clarified many points for me- sincerely hope things work out as you describe .

[mufa]

Great post!!! Thank you

[etzetrade]

HaHa, we earn the net profit just penny less than gross profit. We pay no body no expenses, except A&M 2 million annually.

I like it. Thanks for the posting.

[mordicai]

Please enlighten the board on how escrows benefit. The POR specifically excluded the wmb stock from all the "debtors property" which was transferred to the liquidating trust. Same holds true for the Reinsurance company stock and wmiic , wamu capital trust, etc. The only difference is wmi abandoned the wmb stock to the fdic declaring its permanent relinquishment to obtain the nol. It is my understanding under Washington State Law abandonment does not equate to ownership transfer . I believe wmih as successor in interest to wmi could reclaim the stock or wmb property , but sacrifice the nol or part thereof as a result. I do not see how the LT can be said to have been transferred a cause of action over property to which it was never transferred. For example, say I have left a truck in my landlords yard. Although I have abandoned the truck to the landlord, the law in Washington ,requires the landlord or any other party to turn the property over to the State, and gives me the right to reclaim it. I have not transferred ownership to the landlord. Now say a neighbor torches the truck. Even though I have abandoned the truck I still own the cause of action against the neighbor. So I have a problem with the idea that the LT benefits when nothing wmb was transferred to the LT in the first place. Jmho

[Bluzie2]

Appreciate the research - great job. That said, I can't find any evidence of an agreement between WMI and anyone else (including any trust) that would require payment in the way you describe. Moreover, if the agreement was between WMB and WMI, that would probably be voided out in bankruptcy. But I'm not expert.

My (personal) best hope is that the trust and servicing agreements require excess distributions back to WMI after interest/principal payments or the termination of the trusts. In looking at a few, though, I tend to get a bit overwhelmed.

[bkshadow]

Thanking Sheila Bair* is misplaced...

...IMO.

...or JMW.

...or Brian Rosen.

...or the FDIC.

...or JPM.

...or Tepper.

...or even Willingham and Susman.

...time has already told, and as the receivership and WMILT wrap up, time will tell the end that what they disclosed in December 2011 as a result of the mediated settlement was 'real.

...the analysis of WMB is not only incorrect, it is moot.

...there was a bankruptcy where such, at one point, was 'active; however, the Global Settlement Agreement was approved and then the 7th Amended Confirmed Plan.

...fully disclosed in the DS, and outlined in the Equity Support filings (Committee and Chair).

LuckyPanda

now, dont you all rush to thank sheila blair to make all this possible for us WMI bankruptcy vultures!! :)

...the WMB profitable operations have been owned and for the benefit of JPM since September of 2008.

...as fully SEC filed and Audited since 2008.

...$-0- is coming back from such sources to escrows.

[UncleBo]

JPM only received servicing rights...

Trust assets cannot be purchased they are trust owned and other statements are baseless and unfounded.

Correct, cover the deposits over time...

From the latest FDIC balance sheet - where did this money came from ?! Circa the FDIC publicly stated position "WaMu did not cost us a dime"

SubTotal - Proven Deposit Claims $ 151,150,664 100 %
Less: Dividends Paid to Date 151,150,664 100 %

Total Unpaid Deposit Claims $ 0 0 %

https://closedbanks.fdic.gov/drrip/Ext/BalDetails/10015

[DocKB]

LP-- I've been reading posts for almost nine years. This is the best one I've seen. Beautiful assessment/summary.

[Philborn27]

Purchase prices are "equity" value and do not include debt reductions. JP paid 1.9 billion "equity" value and did not get a reduction in debt. Otherwise people would sell their own loans to other people at a discount. There are assets backing the debt that JP did not purchase.

[Maniek]

I like the way you think and strategize!

[stoxjock]

I agree with all you said except this:

"JPM never stole Wamu. They bought a bank with no income stream. The value of Wamu had always been the income stream (interest profit margin) of its $300 billion loan portfolio..

Sorry, I differ. In fact they had been conspiring to STEAL WAMU from Project WEST days... And the 2008 Crash provided them the Opportunity.. But , as we all know, even that "Opportunity" was precipitated by them, they hatched the Plan and in Cahoots with FDIC & GS, 'manufactured' the Run on the Bank...You may say they did not gain much but Getting $200 - $300 BB Deposit Base and getting a 3000+ Retail Branch Network provided them a 'ready-made' Platform to Scale up in Size in a New York minute...