Replies to post #487560 on Mr Cooper Group Inc (COOP)

[EXDIMER]

Thanks for the reply

All I am saying is that all loans were on the consolidated balance sheet as Portfolio loans or loans held for resale, or if the loans had already been scheduled for securitization but not delivered to the investors they would temporarily be held in safe harbor to protect the buyers/investors prior to the agreed upon delivery date. MBS are typically sold forward i.e. sold with agreed upon future delivery dates allowing time for pooling of the mortgages according to Private MBS agreements or Fannie/Freddy requirements depending on the security type. So, the loans were sold and delivered to investors or seized and sold to JPM depending on the category. There was not and there is not any way for a regulated Banking entity to legally hide mortgage assets or the income from them. The IRS would be all over it and I don't think the large players involved in this BK would miss any opportunity to file claims for anything if they thought there was anything there. It's been a really long time and nothing missing has been discovered. That is a plain FACT. I released, I had a substantial position in WAMU stock as a result of the WAMU purchase of Dime but I have very limited hopes for escrows based on the WMILT disclosures.

[CBA09]

Ref: I concede that i erred in terms of my statement that non performing loans in securitizations were replaced by the originator from in house loan pools.

Comments:
Why would you have erred? Upon the perusal of hundreds of Pooling & Servicing Agreements (PSA's) I have seen numerous terms / conditions written that govern the original / issuer charged with the responsibility to replace non-performing assets with performing assets. So not uncommon to have True Sales with recourse.