Replies to post #491373 on Mr Cooper Group Inc (COOP)

[hotmeat]

Ref post #489606.....Any comments bk ??? Thanks!



Quotes from post............

"Commentary:
Trust Sales accounting solidified! Reason - Two Tier SPE Entities. First tier (i.e., Depositors - “WaMu Asset Acceptance Corporation” and “Washington Mutual Mortgage Securities Corporation), Second Tier issuing Trusts.


Conclusion:
$615 Billion were removed from the Balance Sheet of WMB in true sales. Neither WMB / JPM nor the FDIC receivership has any claim to these securitized Trust assets.

Further, revenue that has & continues to be generated remains captive within each respective Trusts.

Now the caveat - The holding company generally receives the cash flow from Trusts either directly from the Trusts or indirectly thru it's Depositors. From here the holding company will past "on an as needed basis" cash to it's banking entities. To safeguard and protect the assets received by the holding company it will not have an expressed contractual rights to pass on what it receives."