Replies to post #498890 on Mr Cooper Group Inc (COOP)

[2221]

The bankruptcy estate does not have jurisdiction over these SPE's/ Trusts. WMI in its capacity of equity interest does."

Question - 1
So, WHY isn't anything being distributed?

Comment:

The powers to be are surely suppressing the distribution of "Retained Assets" within trusts that have terminated. ,,,,,question. so how long they can do that {suppressing the distribution}??

[Large Green]

CBA09, I just wanted to say thank you very much for taking your time, your professional subject matter experience, due diligence and sharing.

Many of us were pre-seizure investors and have been here for years wading through the mess trying to find the truth about where we stand. Your help has been essential and most helpful to that end and most appreciated by me and so many others.

[LuckyPanda]

CBA09, wouldn't WMIIC as the depositor have control over the MBS trusts as to when to release the assets in safe harbor? If WMILT does not have control due to "bankruptcy remote", and FDIC-R do not have control due to "safe harbor", then who else could be in charge of the trusts release? I originally thought it was DB as trustee. Since DB just finished probate, I thought the assets should have been released by now.

Could they have been? Could the assets have already been released and are currently being worked through WMIH 1031 Exchange for merging with WMIH for the 3.5 billion shares stock for value exchange? And they we are simply waiting in a Sec mandated quite period?

Otherwise who else could have control over the MBS trusts in safe harbor? The only possible party left is FDIC-C. I'm afraid if they are the ones in control, we may have to wait until the last loan in the portfolio is paid off..could be another 10 years!!

[temocat]

Question: doesn’t the FDIC require a “release” before any $ distribution happens? Any insight on that possible impediment, timing and what would be the process and timing? (i.e. what has to happen prior to them getting such a release?) Thx