Replies to post #558134 on Mr Cooper Group Inc fka COOP

[Dmdmd2020]

IMO...conclusions as of February 07, 2019:

1) The assets of WMI subsidiary created MBS Trusts are in safe harbor and are bankruptcy remote

2) Per SEC press release as of September 25, 2008, stated that FDIC did not sell any WMI non-Banking assets to JPMC.

3) Per Purchase and Assumption Agreement , page 2, under “Article I Definitions”:

“Assets means all assets of the Failed Bank purchased pursuant to Section 3.1. Assets owned by Subsidiaries of the Failed Bank are not “Assets” within the meaning of this definition.”

4) WMI and some WMB Subsidiaries owned the beneficial interests to certificate participation in MBS Trusts that were created by WMI subsidiaries. The issue of ownership of the beneficial interests were under the jurisdiction of the bankruptcy cases, but the actual assets of MBS Trusts were outside of the bankruptcy cases and deemed in safe harbor thus being bankruptcy remote.

5) Therefore, the only surviving rightful owners to the above beneficial interests to MBS Trusts are the shareholders that properly released their shares prior to the Effective Date (March 19, 2012).

IMO...my conclusions as of February 08, 2019:

1) WMI Non-Banking assets were not sold by the FDIC to JPMC, or any other entity because they are not under the jurisdiction of the FDIC or the bankruptcy proceedings thus making them bankruptcy remote. Therefore, non-Banking assets will not be returned through the FDIC Receivership. Thus the FDIC can claim that it has zero assets returning to WMI Escrow Marker Holders.

2) Non-Banking assets : MBS Trusts created by WMI subsidiaries, mineral rights, etc.

3) Per the testimony of a lawyer representing the Unsecured Creditors Committee in the bankruptcy proceedings, the “retained assets” will be there (“Holy Grail”). IMO...the “retained assets” are referring to the non-banking assets.

4) the important insiders (i.e. Bonderman et.al., Underwriters) have been patiently waiting quietly, and they haven’t filed any suits lately against the WMILT or FDIC

5) The Judge Walrath ruling on February 01, 2019 (disallowing all Ex-employee Claimants’ claims) isn’t final yet until the 21 day stay has expired (February 22, 2019) for an appeal.

6) IMO... After the Bk cases are closed and the FDIC can finally unfreeze all the illegally seized non-Banking assets (5th amendment taking), there will finally be accounting of recoveries to WMI Escrow Marker Holders.