Replies to post #499212 on Mr Cooper Group Inc fka COOP

[Johnnyiwantsome]

statute of limitations for reference
CBA09 You,AZ,&Ron are on it like donkey kong!

From FDIC
(A) IN GENERAL.--Notwithstanding any provision of any contract, the applicable statute of limitations with regard to any action brought by the Corporation as conservator or receiver shall be--

(i) in the case of any contract claim, the longer of--

(I) the 6-year period beginning on the date the claim accrues; or

(II) the period applicable under State law; and

(ii) in the case of any tort claim (other than a claim which is subject to section 21A(b)(14) of the Federal Home Loan Bank Act), the longer of--

(I) the 3-year period beginning on the date the claim accrues; or

(II) the period applicable under State law.

(B) DETERMINATION OF THE DATE ON WHICH A CLAIM ACCRUES.--For purposes of subparagraph (A), the date on which the statute of limitations begins to run on any claim described in such subparagraph shall be the later of--

(i) the date of the appointment of the Corporation as conservator or receiver; or

(ii) the date on which the cause of action accrues

https://www.fdic.gov/regulations/laws/rules/1000-1220.html

[LuckyPanda]

Thank you CBA09. That is what I suspected originally. Safe Harbor assets release should have been controlled by the MBS trustee. What I don't understand is how DB as trustee could be discharged from probate without WMI receiving our assets? If DB is gone, who is the current trustee of our assets?

Unless of course, we do have the MBS assets under Wamu 1031 Exchange and are currently awaiting stock for value exchange with WMIH. Could this explain the delay?

I still don't like that DB has been discharged as trustee and we do not know who is currently looking out for our interests.

[Large Green]

CBA09, you said the following. Let us know your current thoughts. Thank you

Friday, 12/08/17 08:04:10 AM
Re: LuckyPanda post# 499154 0
Post # of 614652
Ref: Is there a time limit for disclosure of what's in safe harbor?

Does FDIC have any fiduciary duty to disclose final accounting of all assets in safe harbor? If so, is there a time limit?

Comment:

We are talking Off-Balance Sheet Assets - FDIC has not seized MBS in SPE's/ Trusts assets. They have no control or standing with such assets. The pooling & service agreements govern the disposition of all "Retained Assets" respectively within each Trust. Here - "WMI" in its sole capacity as Parent will the final recipient. That is why those in the know wanted "IT ALL" for themselves.

Off-Balance Sheet Assets are those sold and the only requirement of WMB was to reflect the following:

As of each Balance Sheet Date. - Monthly

1) Remaining Principal Balance of those sold assets as Off-Balance Sheet.

2) Risk Obligations such as Recourse Liability.

3) Trigger Events that might accelerated / increase obligations.

4) Description of Trigger events, etc.

Also in 8-k of the Risk Section such estimated obligations would be disclosed.