Replies to post #553826 on Mr Cooper Group Inc (COOP)

[Reptile]

Legal Fees of $3,121,194.19 sure sounds excessive, especially since they had little hope of recovery.

[wcheng]

Is there a date by when Rosen needs to object by?

[Dmdmd2020]

Documents filed as of January 04, 2019:

Doc #12573, #12574, #12576, #12577, #12578 are supplemental filings for claims. Doc #12575 is a joinder.

Tabulation of all Ex-Employee Claims and the documented Attorney Fees are as followed:

Take note, not all the Attorney Fees were tabulated within the Documents filed.

Ex-Employee Claims without Legal Fees = $22,003,047.24

Legal Fees above = $3,121,194.19

All Total including Legal Fees above = $25,124,241.43

WMILT DCR a/o 9-30-18 = $67,991,094.00

Total Disallowed Golden Parachute Claims = $42,866,852.57

WMILT Total Assets as of 9-30-18 = $87,606,833.00

Total DCR cut out after Disallowed Golden Parachute Claims = $62,482,591.57

Total PIERS (Class 16) as of 9-30-18 = $50,642,797.00

Total Left over after Class 16 is satisfied = $11,839,794.57


__________________

IMO...My conclusions as of January 05, 2019:

1) The supplemental filings above did not dispute the disallowance of the "Golden Parachute" claims, therefore Judge Walrath's October 16, 2018 bench ruling regarding the disallowance of the "Golden Parachute" claims will be final once she signs the revised order.

2) The adjusted DCR will take into consideration the numbers that were filed by the Ex-employee Claimants above.

3) After the cut out of the adjusted DCR is completed, there will be plenty of money to pay off the PIERS (Class 16) claims and there will be $11,839,794.57 left to pay other claims other than Class 16.

4) We are now just waiting for Rosen's objection to the above numbers that were filed yesterday and Judge Walrath will make the final determination on the adjusted DCR cut out figure.

5) After Judge Walrath makes the disallowance of the "Golden Parachute" claims final, then the FDIC can proceed with closing the Receivership!

6) The approximate "surviving claims" = $25,124,241.43 which includes the unknown Vested Equity Interests

Per WMILT Quarterly Summary Report filed on January 30, 2019:

http://www.kccllc.net/wamu/document/0812229190130000000000001

PDF page 8 of 15:

WMILT Net assets as of 12-31-2018 = $84,571,377

PDF page 13 of 15:

Total LTI balances (PIERS, GUC, etc.) = $50,803,824

_______________________

IMO...my conclusions as of February 02, 2019:

1) Per Docket #12585, filed as of February 01, 2019, Judge Walrath signed an order disallowing all outstanding Ex-employee Claimants claims and attorney fees, if there is no appeal and after the 21 day stay expires (February 22, 2019), then Total LTI balances ($50,803,824) can be paid.

2) calculations:

$84,571,377 - $50,803,824 = $33,767,553 left over to pay other claims

3) After Judge Walrath’s ruling is made final (with prejudice) then the BK cases can close.

4) Hopefully shortly after the BK cases are closed, FDIC can unfreeze the seized assets that were bankruptcy remote WMI non-Banking assets (i.e. retained interests/beneficial interests in certificate participation in MBS Trusts created by WMI subsidiaries, real estate, mineral rights, Credit Default Swap payouts, etc.) and fully resolve the Receivership.