Replies to post #599245 on Mr Cooper Group Inc (COOP)

[dimples52]

Ron, thanks for your reply. Did WMI win and received the $307B?

Yes, WMI sued for $307B.

[PickStocks]

Hosen filed but withdrew it just as quickly. He filed two one against fdic and jpm but withdrew them in 2009 early 2010.

[2221]

Ron thank you ..but I must say when you say jpm will pay 307 billion it gave The impression that old (p k u)getting that money or most of it and that not the case. When you look at az numbers 8 dollars for Us and say 2 to 3 time face value we looking at 30 billion gave or take just saying good luck to all and happy holiday

[newflow]

Dimple..

There was equity of around $30 - $40 Billion at WMB level at the time of the seizure for which WMI was the equity holder.

WMB net asset valued by a professor was around $70 Billion.(probably way more).

FDIC has the fiduciary duty to maximize the asset value and distribute to the creditors of WMB and then to shareholder(s) of WMB which was WMI.

P&A should take care of that,we dont know the numbers.

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WMI assets were conveyed to JPM pursuant to GSA and 363 sale, saying that some of those assets would be taken care by P&A.

P&A continues as long as those thieves of WMI's shareholders assets are free and growing.

I sometimes wonder all these greedy sophisticated men and woman,knowing how the process of BK work,behind the doors, could you believe how much they must have made already and still waiting?.

They pulled their buddies such as GS Citi KKR..etc into this to maneuver WMIH,keep old equity below the rock bottom price of WAMUQ and continue the show.

They all live and work closely on Wallstreet and probably talk everyday on the estates money.

In P&A $1.88B paid was shown as "Initial Payment", so you can draw your own conclusion.

My first and last hope is EC and S&G.They steered the ch11 case in a different direction originally planned by WG,AM,JPM,FDIC...list goes on.

I strongly believe that Judge Walrath helped us to stay in the equation like get in there and figure out,LOL.

Litigation Subcommittee was allocated $20 mm for pursuing certain claims, EC hired somebody for that and they had the power to allow or reject or retain LTIs in the DCR.LT has no control over TAB once the CC claims are resolved.That is where we are now.

Long message, imho.

[PickStocks]

I do not know where you got that impression but from the fdic everything was purchased for 1.89 billion as of 2012 the pa&a was settled.

[zeus_0100]

dimples52, The $1.88B is;

One Percent (1%) of the of WMB's deposit base of $188B which was transferred to JPM as agreed to in the PAA between FDIC and JPM.

No, that $188 Billion in deposits were for JPM to manage,and the price to acquire the right to manage them was $1.88 Billion. it was not for them to have and to hold, until forever.

Yes the 1.88B was merely an administrative fee/down-payment.

No, the $1.88 Billion plus a $50,million payment, was the TOTAL price paid by JPM.

From your own post.

"Under the deal, JPMorgan Chase will acquire all the banking operations of WaMu, including $307 billion in assets and $188 billion in deposits."

the $307 Billion in assets were for JPM to service, they bought SERVICING RIGHTS, .