Replies to post #501193 on Mr Cooper Group Inc (COOP)

[sharing4u]

CBA09,

Appreciate your time and spirit to provide expertise comments. You enriched me a lot in comprehending this wamu saga.

Questions here:
1. There will be huge assets leftover from receivership and bk plus mountains of treasure from residue interests of SPE Trusts. If these assets are to be returned to WMILT, how will be the flow with respect to time sequence and procedures in cash, real estate and illiquid assets?

2. There will be a bunch of Trusts, eg. DST classified as illiquid and many will exist way after 10-19-2019, current term expiration of WMILT. How would this be normally worked out with respect to WMILT and/or WMIH?

3. Many expect that there will be something to happen to WMIH, probably an acquisition news before 1-5-2018 and amending Preferred B giving out more bones to holders, KKR with majority, was just a Plan B (smoke screen). What is your take on this?

Again my sincere thanks to you! Merry Christmas to you and your kins.

[hotmeat]

I found this post by AZ to be very compelling and would appreciate your own take on the content and assertions made,..at your convenience of course. I've personally highlighted certain portions in blue for emphasis. The original post# is 501576. Happy Holidays!!!






Quote..."~ Merry Christmas Everyone', WMIH-Corp IS' "The Tell" ~

Washington Mutual Inc., Filed 02/29/2008
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2007

https://www.sec.gov/Archives/edgar/data/933136/000104746908002083/a2182890z10-k.htm

This 02/29/2008 document, as it refers to, "Retained Earnings"

Retained Earnings as of 12/31/2007 = $18,921,000,000.00 (EDIT: pg 104 of 10K document)

... (plus' ? don't miss this next part' ... $18,921,000,000.00 - $2,220,000,000.00, ... right' ?) ...

"The Company's retained earnings at December 31, 2007 included a pre-1988 thrift bad debt reserve for tax purposes of $2.22 billion for which no federal income taxes have been provided".

Monthly Operating Report for Debtor in Possession for the Period February 1, 2012 Through February 29, 2012, ... ("this would be the last MOR', able to be filed ahead of Plan 7's Implementation Date on 03/19/2012")

Docket # 10004 Filed 03/30/2012
http://www.kccllc.net/wamu/document/0812229120330000000000007

This 02/29/2012 document, as it refers to, "Retained Earnings"

Retained Earnings, pre-petition as of 09/26/2008 = $16,739,175,191.00

Retained Earnings, pre-petition as of 02/29/2012 = $20,770,648,942.00

Retained Earnings, post-petition as of 02/29/2012 = $1,043,405,792.00

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turn the page' ...

Washington Mutual, Inc., utilized securitization process' ...

Loans securitized(3) 6,147 (this is the number' of loans, not their value)

* 3; Represents the interests retained by the Company which are included as an adjustment in this table as they have been recognized separately in the Consolidated Statements of Financial Condition

Certain securities that are sold in exchange for cash are subject to an obligation to repurchase the same or similar securities ("repurchase agreements"). Under these arrangements, we transfer the securities but still retain effective control through an agreement that both entitles and obligates us to repurchase them. As a result, repurchase agreements are accounted for as collateralized financing arrangements. The repurchase obligations are reflected as a liability in the Consolidated Statements of Financial Condition while the securities remain in the respective asset accounts.

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turn the page' ...

WMI Holdings Corp Filed 03/15/2013 (First "K" Annual Report)

ANNUAL REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2012

https://www.sec.gov/Archives/edgar/data/933136/000119312513110149/d445890d10k.htm

"Following emergence from Chapter 11, we adopted fresh start reporting in accordance with ASC 852 (Reorganizations), pursuant to which the reorganization value of the entity was assigned to the entity’s assets and liabilities in conformity with the procedures specified by ASC 805 (Business Combinations), which requires that the entity measure the identifiable assets and liabilities at their acquisition-date fair values. Adopting fresh start reporting resulted in a new reporting entity with no beginning retained earnings or deficit. In addition to the adoption of fresh start reporting, our post-emergence consolidated financial statements reflect effects of the transactions contemplated by the Plan. Thus, our future balance sheets and results of operations may not be entirely comparable in certain respects to balance sheets and consolidated statements of operations data for periods prior to the adoption of fresh start reporting and prior to accounting for the effects of the reorganization. Our historical financial information may not be indicative of future financial information."

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turn the page' ...

and ask ... ? ... Just what Are' ?, a company's "Retained Earnings" ?, ... and were' the company's, ... "Retained Earnings", ... Bankruptcy Remote ?, ...


Quote:
Retained earnings refer to the percentage of net earnings not paid out as dividends, but retained by the company to be reinvested in its core business, or to pay debt. It is recorded under shareholders' equity on the balance sheet.



Quote:
Retained Earnings

You can think of retained earnings as undistributed paper profits. Each year the firm declares a profit and does not distribute such profits, the retained earnings account grows. However, a positive balance in the retained earnings balance does not mean that the firm has a corresponding amount of cash on hand. Many growing firms have a great deal of retained earnings but little cash because all past gains have been invested back into the business. A firm also may lack cash because it has been unable to collect what it is owed. Firms forced into bankruptcy are often in that situation.



Quote:
"Retained earnings are corporate profits not distributed to shareholders. ... If corporations file for bankruptcy, they use retained earnings to pay off their debts as part of the liquidation process. However, not all corporations are able to retain earnings."


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And as we' all know, ... Plan 7's Approval was reorganized using "Cash", "Tax Refunds", ... and a $223,000,000.00 infusion from WMIIC' to balance out the numbers' ...

~ The "Retained Earnings" ? ... Have Actually Now Been' ... "Earnings Retained" ... and, ... have grown at a level of roughly $104 million dollars per month' ~

just sayin'

AZ"