Replies to post #508827 on Mr Cooper Group Inc (COOP)

[Johnnyiwantsome]

History dating back to 1889, Washington Mutual, Inc

Grandfathered



BUSINESS

General

With a history dating back to 1889, Washington Mutual, Inc. (together with its subsidiaries, "Washington Mutual," the "Company," "we," "us," or "our") is a consumer and small business banking company with operations in major U.S. markets. Based on its consolidated assets at December 31, 2007 the Company was the seventh largest among all U.S.-based bank and thrift holding companies.

Since the early 1990s, the Company has expanded its retail banking and lending operations organically and through a series of acquisitions of retail banking institutions and mortgage companies. On October 1, 2005, the Company acquired Providian Financial Corporation, a credit card lender, thereby entering the credit card lending business.

The Company's earnings are primarily driven by lending to consumers and small businesses and by deposit taking activities which generate net interest income, and by activities that generate noninterest income, including the sale and servicing of loans and the provision of fee-based services to its customer


It would most certainly want to retain that ability as its old share holders are still representative of that.

Regards,
B

[boarddork]

That could very well be. I'd love it to be true, and there is a lot pointing to that truth.

It was also just pointed out to me by a friend, that NationStar's info says it is both a:
1) Servicer
2) Loan Originator

So even if WMIH didn't have a charter to originate loans, it sounds like Nationwide or one of its subs can.

Sounds like new WMI is heading back in business, to do what it always did best.