Replies to post #543323 on Mr Cooper Group Inc (COOP)

[jerrylev]

Johnny, I agree with you, we will be paid and there is no doubt about it.

But what I and a few people are against are impossible scenarios such as:

- hundreds of billions will come back

- payment through S4V

- Escrow getting paid ahead of higher classes

- WMIH / COOP has anything to do with WAMU assets

- There are still trusts that will perform and pay escrow after WMILT is disbanded

- WMILT will be disbanded after 40M are distributed

- The 75/25 split til the end between preferred and commons only applies to the 40M.

- And on and on and on and on, the theories are endless.

[hotmeat]

From WAMU's 2005 letter to the FASB re changes to Safe Harbor rules....

Washington Mutual would like to take this opportunity to comment on the Exposure Draft ("ED") referenced above. Based on our consolidated assets at June 30, 2005, Washington Mutual, Inc. (the "Company") was the largest savings institution and one of the largest residential mortgage loan originators and mortgage loan servicers in the nation. The Company actively sells mortgage loans and servicing rights in securitization transactions and retains servicing responsibilities as well as senior and subordinated interests.


To most here there is little to no doubt that the company retained interests in it's securitizations as indicated above,...it was a banking norm.

The only issues are, how much were/are they worth (cash) and where are the remaining unliquidated interests/accumulated cash currently being secured.

IMO these returns may have to be shared with JPM (WMB) unless there are strict provisions WMI is entitled to all returns from those retained interests.