Replies to post #595809 on Mr Cooper Group Inc (COOP)

[Major_Bankz]

I'M EXPECTING 2 Distributions to ESCROWS: DIST #1 at least $24B inside the CH. 11 ( BEFORE DEC 19), DIST # 2 outside of CH. 11 (Bankruptcy Remote Assets) $30B - $300B (AFTER CLOSE OF CH. 11) IMO

[Rootjim]

Would like to try to answer that until a better one comes along. Many countries such as China and Japan bought these MBS (Mortgage Back Securities). Also private investors, investment funds and so on. By owning these MBS they collected on the interest or received the property if there is a default.
..The bank services these MBS for a fee. In this case it is now(JPM) Chase Bank. The MBS that WAMA did own is now owned by(JPM) Chase Bank, which was a smaller part of the' total MBS. WAMU was suffering losses from credit card debt and a run on the bank when it was seized, regardless fair or not. So now the long drawn out bankruptcy. IMO

[wamuvoodoo]

Lehman is still open along with united western bank and thousands more..lol as the lawyer pigs keep scrapi6every cent they can

[mwd44]

The trustee.

[hotmeat]

They were purchased by INVESTORS; ie Hedge Funds, Pensions, Investment Co's etc, they were never owned by WAMU.

WAMU likely retained residual interests in their MBS's but the vast majority were sold off.

What happened to those residual or any interests WAMU retained and what was their worth is still debatable.

What JPM bought essentially was the right to service those MBS's, they could not buy what didn't belong to WMB.