Replies to post #532239 on Mr Cooper Group Inc fka COOP

[jerrylev]

In 2012, TPS already refused to sign the release and only after meeting with MW, they agreed to sign. So that tells me that there are something. If it is next to nothing then what do they have to lose by not signing? They already refused to sign.

Then the LT spent a total of 91M since 2012 to do something. If our return is close to zero then they should wrap it up quickly and give us back at least 80M

Then there is the Safe Harbor and securitized assets. There are signs that there are some SH assets that the FDIC could not seize and they don't like it and tighten the rules in 2009 to restrict what kind of assets can be put in SH. So either WAMU put a good portion of assets in SH or do nothing but it makes no sense to spend the effort and put a little bit.

And then experts like HM and Justice found some balance sheet data that show that the FDIC retained as much as 40B.

Taking into account all of the above, I cannot say that the return is close to zero. At the same time, I cannot be sure that it is more than 20B either let alone hundred of billion.

So my middle ground is at least 10B - 15B.

[Large Green]

EXDIMER, what are your thoughts on the following?



***From a Certified Bank Auditor-Subject Matter Expert***


Ref: if safe harbor rules protect the assets to pre-bankruptcy ownership then its distribution should not apply to POR7. Does that mean escrow markers are moot? Will all Wamu shareholders receive a distribution including the non-releasing ones? Thanks in advance for your input. I have been wondering about this for some time.

Comment:
Liquidation of assets involves two distinct assets:

1) Property of the Bankruptcy Estate - (Por7 applies).

2) Non-Property of the Bankruptcy Estate - Safe Harbor Assets ( regular bankruptcy code procedures / priority apply).

While the above two are distinct in nature "ALL" residual interest will go to Escrow Markers. So, no, not moot. Escrow Markers are the legacy shareholders. Thereby, have final legal standing and in turn sole contractual rights / title in residual interest.

Ownership Chain -
WMI owns the assets of WMI and in turn has legal title to all the assets of it's subsidiaries. Shareholders of WMI have legal title to all the assets of WMI. All assets that end up in WMI thru it's subsidiaries are thereby assets that WMI shareholders have legal contractual rights.

Por7, thru its declarations, have addressed the distribution of liquidated Bankruptcy Estate Assets. All residual interest of estate assets will go to Escrow Markers per the 75 % / 25 % allocation.

Since our Safe Harbor Assets are outside the bankruptcy estate, those captured within SPE/Trusts will follow each respective Pooling & Service Agreement (PSA) provisions. Generally, it's Parent that receives cash flows of residuals. Note, SPE# 1 create the SPE# 2 /Trusts, SPE 1 are many times direct subsidiaries of the Parent. And, SPE # 1's have a great deal of involvement in residual interest of SPE # 2 / Trusts.

In a solvent entity shareholders cannot force a distribution. A Corporation, thru it's board, has to declare a distribution of it's profit before shareholders are to receive any distribution in the form of dividends.

PSA are compelling and indivisible - only one end stop - Escrow Markers.



Have I told you lately how much more, more and more I love my Escrow ShareMarkers that continues to grow immensely every single day forward?

[iPrelude]

Exdimer

Thanks for answering

I believe you are defending your Wamu interests/investmnet the way you believe is better for you; that is very human and understandable

Probably that is why your "answer" was as it was

I still believe and will "hold tight" to this

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139196773

[JusticeWillWin]

EXDIMER, what's your take on the 40.2B asset related equity adjustments. The 40.2B are the sum of the 13.8B WMB Bonds and the complete 26.4B equity.

Could you please explain as detailled as possible why the FDIC subtracts this value from the Net Assets?

I understand they subtracted the WMB Bonds because JPM chose transaction #3 which excluded the bonds, but why do they subtract the complete remainig equity?

TIA