Replies to post #537252 on Mr Cooper Group Inc (COOP)

[hotmeat]

Quote: "According to HM then WMB was sold entirely to JPM and so 26% of zero is zero. The only beneficial interest is from the 40B of mortgage assets that were retained by FDIC."



Jerry, you just don't seem to grasp the process of securitization. If WMB sells 100's of loans to individual customers and those loans remain on it's books, then those loans are not protected by SH.

If however WMB "transfers" those same loans along with 1000's of others to SPE's which then securitizes them and places them into Trusts, that loan in now off WMB's books and could not have been seized or sold to JPM.

Securitized loans placed into Trusts are no longer WMB's property, but may be a beneficiary of some percentage of the cash generated by the PI/BI's retained by it's SPE subs, along with WMI as the parent co.


Until there is an accounting of any such PI/BI's or of what exactly the FDIC may be"holding", it's nothing but a guessing game. Again, securitized Trust assets and PI/BI's are protected by SH!!!

[Dmdmd2020]

IMO...go to the FDIC website and look at the numbers yourself and add them all up.

Draw your own conclusions...but I still stand by my estimates of 26% certificate participation in beneficial interests in MBS Trusts which comes out to approximately $172 billion cash (using a 95% liquidation rate of all MBS Trusts).

Read all my posts...I detail all my calculations and all the public references with links. There is no hidden/insider information in my possession it’s all in the public’s purview...you just have to look for it.

I’m not here to convince anyone to change their minds...I’m just sharing my own opinions (whether it’s right or wrong).