Replies to post #541726 on Mr Cooper Group Inc (COOP)

[AZCowboy]

~ DmDmD2020, I'm Trying To Follow Your Calculations ~

However, as most know, basically I've been a Delaware and D.C. Dual Tracking Legal Process Researcher, ... However, If" ? I may ask you Two Questions pertaining to your mathematical conclusions for a better understanding of your presentations' ...

1st: ... As You Say, ... "The ABS/MBS TRUSTS are not owned by WMI! WMI only has beneficial interests in the ABS/MBS Trusts." ... So If' ? You understand this (which I also agree with), ... Then how do you move to the consideration that the WMI-LT which, in the WMI-LT's own words, only represents the WMI Holding Co., has anything to do with the Trust Class Segregated dividend returns ... ? ...

It appears to me that you understand the Trusts separation and individuality', yet you appear to promote the "75/25 to the end", myth and lore' ... ? ...

If you believe 75/25 split to the end:

Class 19 preferreds = $172.50176 billion x 75% = $129.37632 billion in cash

Class 22 commons = $172.50176 billion x 25% = $43.12544 billion in cash

Old WAMPQ = $18,247.09

Old WAMKQ = $456.17

Old WAMUQ = $36.10

2nd: ... Again as you Say, ... "(approximately 26.24% participation per my previous posts) in ABS/MBS Trusts created by WMI subsidiaries." ...

Where is the 26.24% participation number coming from', that number of participation in the ABS-Cert Trusts' is not consistent with WMI's 2005, 2006, & 2007 SEC 10-K's referring to its "Retained Interest Earnings", and also referred to as "Retained Earnings" in the Feb 2012 MOR, just ahead of the Plan 7 Reorganization' ...

Thanks In Advance

AZ

[jerrylev]

Re: WMI subsidiaries securitized $1.616 trillion since inception of ABS/MBS Trusts. All bankruptcy remote “off-balance” sheet assets!

Dmd, I understand this and it is my exact point.

WMI can only have BI of assets that remain or are bankruptcy remote using your terminology. such as SPE, securitized and safe harbor assets.

But just from a ball part point of view, the securitized assets cannot be one trillion while the liabilities are only 262B? It's like owning more than what you have in the first place, before anything were taken by JPM.

It is like a company that come out of bankruptcy owning more that it once have. If it is true then every company should file for bankruptcy.

It is not logically possible.

P.S. just think logically. Before the seizure, JPM made an offer to buy WAMU for 30B, I believe. If there are one trillion of assets in WMI, JPM should offer 500B for WAMU at the very least,

Now after the seizure and stealing of WAMU, there are more than 200B after liabilities. This makes no logical sense.