Replies to post #485804 on Mr Cooper Group Inc (COOP)

[tanjazielman]

I am saying the following:

FDIC-R will return to shareholders:

- 100+ billion in cash. Minus 17.5 billion for creditors/costs/bondholders/3B DB claim/direct Wamu Trust investors, leaves 82.5 billion roughly for equity.
- 30+ billion in unliquidated mortgages in the remaining Trusts (through reorganized debtor WMIH).

Look at the R-203 assets mentioned in JPM 10k of 2015 vs. 2016.

Those off balance sheets are not mentioned in 2016 anymore. Probably because the "Turnover action" was completed in 2016.

For more info I would refer to Article XII of the P&A Agreement.

I will post a detailed breakdown of my interpretation later. If I can struggle throught the legalese, that is.