Replies to post #548553 on Mr Cooper Group Inc fka COOP

[porkchopranch]

Good post Board. Sums it up in a nice tidy Christmas bow ??

[Johnnyiwantsome]

Boarddork,
It is always a pleasure to see your precise, accurate, and informative posting! Bravo!
Regards,
B

[goodietime]

"Every month, money flowed into WMIIC from trustees managing hundreds of securitization trusts that WMI participated in.......and that money promptly flowed out of WMIIC and into WMI as WMI saw fit.........Billions of dollars in annual income.........until: bankruptcy triggered safe harbor = flash frozen like Hans Solo, only be brought back to life in future when the time has come."

"Billions of dollars in annual income........."

board, Any idea how much per year?

[hotmeat]

Agreed...that's why IMO the female ex WAMU employee filed an objection to limit how the Debtors treated with WMIIC assets, which the Bk court eventually agreed to.

She may have had knowledge of WMIIC's asset portfolio and sought to prevent the Debtors from dissipating those assets without just compensation to the estate.

Could there be WMI owned residual interests in the DB trusts the FDIC settled last year, meaning we could receive a distribution from the $600M settlement?

[xoom]

Excellent reminder BD . Thank you.

[PickStocks]

Our understanding is that WMIIC has no money and we are not sure if anything did exist.