Replies to post #536458 on Mr Cooper Group Inc fka COOP

[hotmeat]

I'll say it again....100% wrong!!!

Read the FDIC doc, Note 8 refers to the $40.2B A-rea as a Discovered Asset and Liabilities, ie $26.4B Discovered Asset and a $13.8B Liability (ie Claim).

Quote: "Yes...Eclipse is WMIIC".

That's just one example of a pattern.

[JusticeWillWin]

IMO absolutely wrong again. We had a discussion here (hotmeat and I) some weeks ago that has shown that the WMB Euro Notes (the Covered Bonds you are talking about) are with JPM and not the same as the WMB Senior and Junior bonds (which are not covered) that are in the FDIC receivership.

Two different things!!!

JWW, The WMB Bond are Covered Bonds.

The WMB EURO Notes are over funded MBS, and are now all cash. The Notes are JPM's responsibility not WMI's and paid for themselves with their own money. Therefore don't subtract them from the WMB Balance Sheet to WMI claim against FDIC.

Quote:
Nooo! JPMC got the $258.5 billion assets because they also assumed exactly the same amount ($258.5B) in liabilites.


Are you saying that all ~2200 Bank locations are worthless?


Quote:
But the FDIC subtracted these $40.2B asset related equity adjustments...


The $40.2B is the WMB loan losses and is an equity adjustment for the value of "WMB and it's assets".

You are welcome!

Thanks for the TA Charts.