Replies to post #610816 on Mr Cooper Group Inc (COOP)

[FranklinC]

Further more.. (I just can't quit you WAMU)

This is how I see the subs.. as a Trust Fund.

Think of WMI as a trust fund kid, living on the streets. Lets call this kid WAMUQ. He blows his quarterly payments on smack. You can sue WAMUQ for all he's worth, which is only a few bucks in his cup. The second WAMUQ gets out of court, those beneficiary "participation" payments resume. Because the Trust Fund is untouchable.

WMI wasn't blowing the payments on smack but, the Trust is untouchable.

The silence is deafening. And a bit scary.