Replies to post #516981 on Mr Cooper Group Inc fka COOP

[jerrylev]

Re: The surviving estate cash/assets of WMI/WMIIC POST -March 2012, is absolutely different than cash/assets of the surviving estate PRE-March 2012


So what you are saying is that after the ED, bankruptcy was over and the SH is not needed anymore and it can be freely transferred to WMILT, is that correct? Nobody can claim them anymore such that let say 1 year from now, it will be revealed how much money we have and then somebody else such as the bondholders may file a claim for that money and they cannot, because it used to be SH money. For other money not in SH then there is a risk that somebody can claim it unless they have already settled.

Perhaps that explains why this is dragging for so long and we are not paid because not all assets are in SH and somebody can claim it unless they have settled.

[goodietime]

Board, Thank you for that reply. It looks to be a substantial amount.

[soundincrest]

BD : Any thoughts on WHEN? Are you thinking before/after merger?

2018 ?,2019? 2020 ?

Appreciate you THOUGHTS

[hotmeat]

Excellent post, in that it encompasses what most here believe is the case...re Mortgage Interests that belong to the WMI Estate (inclusive of WMIIC).

Where i'm having an issue is who are these "estate owners"??? I've been posting this excerpt from the POR, which ALL parties to the plan (Debtors/JPM/FDIC) must abide.

It states clearly that ALL Certificates and Documentation representing Prefs (TPS, PQ's + KQ's) and Commons were made null and void.

By what mechanism would Commons former standing as "owners of WMI-(WMIIC)" be resurrected at this stage since Equity (Prefs + Commons) was essentially cancelled???

I have long held the belief that the major impediment to resolution is the FDIC Receivership and to a much lesser extent the bankruptcy, where Creditors are owed <$50M and therefore not a major issue.

[jerrylev]

Re: Per the 2013 Dept. of Justice Settlement Agreement (1 of 2 Settlement Agreements) with JPM, JPM.....DID NOT.....become successor in interest to Washington Mutual Bank, WAAC, WMMSC, or Long Beach.

Securitization principle, interest, investor participation slips, liquidations, etc. originally generated by WMB, WAAC, WMMSC, and Long Beach, (trustee managed by DB, USBank, LaSalle, BofA, etc.) were those assets that "could be pursued later" by the surviving estate once safe harbor protections were no longer needed or required. The surviving estate cash/assets of WMI/WMIIC POST -March 2012, is absolutely different than cash/assets of the surviving estate PRE-March 2012 "


Just for fun since this is Friday.

I got to give RD some credit although he is throwing dart in the dark. Our money is not held in one place and so it may come, some from USBank, some from BoA, some from Wells Fargo, DB, etc. And so if you look for signs that money is being transferred to pay us, it will not come from one place. Except that every hour and everyday, there are tons of interbank transfers and you would not know which ones are for us.

And I agree with BD that some of the money that JPM will pay to DB, may be money for WMI and us, although this has nothing to do with old preferred but has to do with securitization.