Replies to post #489755 on Mr Cooper Group Inc (COOP)

[newflow]

You are so right, i agree with you 100%.I am sure that WMILT had $30.8 thousand runoff note at the time of effective date or trust agreement.But there is some uncertainty around creditor cash and runoff notes.If all the creditor cash was used for run-off and if that is being called,there should be significant cash IMHO.
Run-off is used for tax purposes imho using the same old cash and same old assets,how?, i do not know . JIMHO.

[Large Green]

clawman, exactly correct.

WMIH is responsible for the run-off notes but NOT the principle on the Piers.

So with the run-off notes called one hundred percent that leaves about 49 million to pay on the Piers BUT the Piers have their own bucket that they can be paid from and that only includes the insurance run-off business (WMMRC) and tax refunds.

Again, the Piers principle cannot be paid from anything else and WMIH is NOT responsible for this 49 million of Piers principle.

In my view, the Piers had to be backed by something considerable in it's day, so there could be a lot left over that comes back to Escrow ShareMarkers from this source.

I believe the aforementioned is true if not, I will stand corrected.



In terms of those assets that originally backed the Piers and with the run-off notes paid 100%, I believe we can move forward. I have no doubts there is enough money to pay the 49 million Piers off from tax refunds and WMMRC, so the question is when will this happen?

Remember, anything over 25 million, WMILT can make a payment anytime and does not have to wait until the next 11/01/2017 distribution date.

Also, WMIH MUST be moving forward very soon because WMILT has not asked or filed for an extension with this scheduled to be shut down no later than 3/19/2018 UNLESS funding returned on 1/5/2018, replacement funding announced or in place before 1/5/2018 and/or a QA before 12/31/2017 announced.[/url][tag]insert-text-here.

[Civil War General]

As a result of WMIH issuing runoff notes to the PIERS in exchange for a portion of their total payment, as elected in the releases or not, WMIH received the cash that was set aside for the PIERS.

[katekir1234]

I for one liked the 13% intrest on my notes:nice money but good for them they called them all now.I also got my money but no more 13% intrest now.