Replies to post #495846 on Mr Cooper Group Inc fka COOP

[ReikoBlack]

Pg. 13
http://www.wmitrust.com/wmitrust/document/8817600170728000000000001

"Note 9: Investment in Subsidiaries Since the Effective Date, the Trust had five (5) dormant subsidiaries without any active business operations. The subsidiaries adopted a plan of liquidation in October 2012. The assets held by these subsidiaries were comprised solely of cash and cash equivalents. On June 23, 2017, four of the subsidiaries were merged with and into the last remaining subsidiary, WaMu 1031 Exchange. Prior to such mergers, such subsidiaries distributed their remaining cash to the Trust. The Trust received $444,333 on June 27, 2017. The last subsidiary, which no longer has any assets, is expected to be dissolved by December 31, 2017."

"Wamu 1031 Exchange is set to dissolve by Dec 31"

Is there an estimate on the 'value' of this 1031 Exchange?

Where is this value going to?

All theories welcome.

[LuckyPanda]

Wamu 1031 Exchange corp does not have any assets in itself. It is a tax deferment transfer medium between escrow markers and safe harbored assets. I believe the 2.9% profits collected from the $330 billion Wamu loan portfilio since 2008 plus any remaining future profit interests now will return to WMIIC. Those tax deferred "assets" (i dont think taxes have been paid on profits in safe harbor) which belongs to WMILT will then return to its last subsidiary - Wamu 1031 Exchange.

I believe WMIH will exchange 3.5 billion shares for all those assets (cash + remaining interests in future loan portfolio profits) with Wamu 1031 Exchange.

Wamu 1031 Exchange will then distribute the 3.5 billion shares to escrow markers by using WMILT as pass through.

Tax on those interest profits are now deferred until escrow holders sell their newly aquired WMIH shares.


WMIH will then be valued at all merged assets from safe harbor (cash + remaining interests in future loan portfilio profits) divided by new 3.7 billion shares base (3.5 billion to escrow + current 200 million shares).

In the end current 200 million shares will get a free valuation ride up. But escrow owners will still own 95% of new dilutes company. Win win for everyone but a big big win for WMIH BOD members who have been collecting millions of shares since 2012 for their "service".