Replies to post #518712 on Mr Cooper Group Inc fka COOP

[JusticeWillWin]

Hmmmm, let's call it "Asset-Related Equity Adjustments"???

Part of your post (color added):

Based on my initial post re Available for Sale Securities, it is clear WAMU retained securitized products which they could liquidate if required, and as of June, 2008 these accounted for ~$24.4B worth.

If they did, that property was NOT among the assets sold to JPM, nor could the FDIC seize same to pay claims against the Receivership. Our problem is we don't have access to all the information.

Have a look again on the inception balance sheet. The -$40.2B asset related equity adjustments are comprised IMO of the $13.8B WMB Notes and $26.4B (the complete equity) in "assets" that were not given to JPMC.



Also this FDIC page...

https://www.fdic.gov/bank/individual/merger/2008/closebmerger.html

...says, JPMC acquired "only" $258.5B in assets, and NOT the $298B from the inception balance sheet, although it was a "whole bank" P&AA!



All IMO

Your complete post:

Any asset that was directly owned by WMB or pledged to it could have been seized and sold to JPM. Whether that actually happened this way has different interpretations here.

SH assets are different in that it sets out a specific way assets originated by WMb can be immune to seizure by the FDIC. Once that process is followed the asset is protected by SH rules.

IMO, virtually all MBS's securitized by WMAAC and WMMSC etc and transferred to Trusts are protected. Whether SH is moot depends on if those SPE's and/or WMI/WMIIC retained interests in those MBS's.

Based on my initial post re Available for Sale Securities, it is clear WAMU retained securitized products which they could liquidate if required, and as of June, 2008 these accounted for ~$24.4B worth.

If they did, that property was NOT among the assets sold to JPM, nor could the FDIC seize same to pay claims against the Receivership. Our problem is we don't have access to all the information.

Download pdf in link below for explanation of FDIC Safe Harbor provisions. (pgs 3-7).


Safe Harbor

[BBANBOB]

HM
Like I said at the time when JUSTIN was pushing to get his 24 bill on the RECORD IN COURT, lawyers are not accountants, and lawyers are very very careful about what they say in a case.
Along those lines I doubt seriously he just pulled those numbers out of his HAT!!!

Just like an AVG JOE six pack shareholder(not discounting at all!!!)
NATE TOMA was able to find and or see the insider trading going on at the time............ AND in fact saved our SOULS here..

Thanks go out to THJMW, SUSMAN and NATE as well!!!!!!!!!!!!!!!!!!!

I have suggested over the years that all of those that have trashed SUSMAN/THJMW over the years, will have the STRENGTH to come out and say they were wrong about both S&G AND THJMW when this all goes down!!!!!!!!!!!

If this goes down in our favor , IT DIDN'T JUST HAPPEN( Judges Chamber meeting)and equities FORCED participation

[jerrylev]

Re: IMO, virtually all MBS's securitized by WMAAC and WMMSC etc and transferred to Trusts are protected. Whether SH is moot depends on if those SPE's and/or WMI/WMIIC retained interests in those MBS's.


HM, thank you for the explanation. I take it from you that the bulk of our assets are in WMI and protected anyway. The ones that are "in jeopardy" are the SPE and WMIIC interests in MBS if they are in SH or not and therefore "protected".

For others who are in the S4V theory, everything was liquidated (sold). When we say that certain assets are protected, it merely means that they cannot be seized and included in the 1.9B price tag but have to be paid for at book value. But don't dream that WMIH + NSM will "buy" those assets with WMIH shares, which is by the way illegal in the first place per the POR and per the sale contract with NSM.

The best scenario that we can dream about is if JPM will let NSM + WMIH to service the WAMU loans that JPM had bought for a fee but JPM owns them.