Replies to post #586089 on Mr Cooper Group Inc (COOP)

[Royal Dude]

Every once and a while you write a CYA post like the last one. Just close the BK and get over yourself

[Boris the Spider]

Mr. Meat. The WMI assets were not under the auspices of WAMU.

You said:

The theory is relatively simple in that it is 100% confirmed that WAMU retained interests in it's securitizations, but, what is still unclear is whether those interests were pledged to WMI.

You sound confused here.

WMI's assets were owned by WMI. WAMU did not have authority to tell the holding company what they could or could not do, as you assert.

Therefore, the WMI assets were put into safe harbor, regardless of what happened to WAMU. Period.

You are correct that said assets could be released after the bk closes. I say there ARE assets and those will be released to the estate after the bk closes by EOY.

You said:

If yes, it's just a matter of waiting for the bankruptcy process to close, which should allow the respective Trustees to recontinue making distributions to the current holders of WMI Equity; ie, our Markers.

Correctamundo.

Mr. Meat. Your large holdings of P's will do quite well. :)

[keeblerz28]

"IF WMI did indeed possess interests or a stake in MBS interests retained by it's SPE subs, we could indeed see some form of reasonable return."

Where would information be located to prove or disprove this hypothesis? Even if the process needs to wait for close of bankruptcy, there should still be some documentation showing what is waiting to happen.