Replies to post #659370 on Mr Cooper Group Inc fka COOP

[ItsMyOption]

SP, Thanks for your optimistic take - I will remain in AZ's camp that someday $$ will come.

Did anyone listen to the hearing that was able to hear what Deekshant Lumar stated as I was cut off and it seems the court did not want others to hear. It went on a long time.

[Ray_137]

"I would like an accounting of the BK remote assets... what they were, where they have been, and where they are now. For whatever reason, no one will address that in this court". [color=red][/color]

Rosen said in court: There are bankruptcy remote assets our equity committee will like to go after it examiner need not to see those in his report.

What happened to those assets and why equity committee was dissolved without any resolution of this point? Beyond my understanding.

[BigBang]

Tax code changes would be retroactive to April of this year.

[ItsMyOption]

Samuraiprogrammer, You stated something in your post today that I wish to respond to:

(If someone can show me in a WMIH or COOP filing where they are, I will examine that with an open mind.)

Years ago when the last investor relation worked at COOP I was able to be in contact with him and he gave me access to all the investor based ABS/MBS that COOP was managing. This goes back possible over 5 years ago. After days of exploring those MBS I found pages all coded as WMI with a A1 or A2. I was unable to make a copy but asked the investor relation manager if he knew if those ABS/MBS where being serviced for the benefit of WMI Estate.

To make a long story shorter he could not answer so I asked if he could ask management that question and unfortunate for him he was fired for letting me have access - from what I gathered as my login to get to that file did not work after that date. After the new IR - Kenneth Posner started I called him to ask that same question about all those MBS/ABS that had WMI A1 or A2 and he informed me I was to never call or contact him again.

I believe COOP has been servicing many of our off book and BK remote assets for years. I sure will be glad when this is over. SOON?

[dragoon76]

Excellent post and I agree with 98% of what you said!

[goodietime]

"I don't know about you, but when I signed my releases, I did not intend (nor can it be reasonably inferred that I did) to absolve future misbehavior of anyone on the release list."

+10

[lodas]

Samurai.....it makes sense to me that this is how the whole chapter11 went down with wmih....since it was a chapter 11 restructuring, all equity residuals come under the purview of the company after survival, and all creditors have been paid off.... the WMILT was formed to do just that with only monies allocated to pay off creditors, which they did... the Wmilt was not formed to pay off estate holders, as the estate still comes under control of the corporation... so, Rosen is right... no money for escrow equity holders......so, WMI needs a vehicle to start up business again, gets funding from KKR, buys NSM to get the Safe Harbor assets back to the company they just acquired...how do we know this?... they stated that the assets were greater than present and future liabilities of the company when applying for the bridge loan...shorltly after acquiring NSN, 65 billion in MBS were "boarded" into NSM.. the reason the stock did not take off with that news is because it is not reported on the balance sheet of coop, pending resolution of the receivership and chapter 11...now however, june 30 seems to be some point of demarcation for coop, so a rash of motions are filed in court to stop, or alter the present course of closure..at the present price of about 33 dollars, the market cap of coop is about 3 billion dollars...boarding 65 billion in new MBS would have surely caused the price of the stock to rise dramatically, but it did not as yet.. why? IMO, those SH assets have been right under our nose all this time and sequestered in coop, but not on the books as yet...as AZ Cowboy says... coop is the "tell"..Lodas

[wcheng]

Good summary. Thanks. We still have some hope.

[PickStocks]

The best thing that happened today is we no longer have to hear her sham appeals of hearsay. Make this six failed attempts. Coop can now move forward until they clean up and catch up. Bk closed. LT done and out. Wmih ownership change ended. August 1, buybacks repeats itself.

[Prof Gonzo]

What she has accomplished is to convince the judge to state (from the bench) that no one who signed the releases may litigate COOP over anything related to the bankruptcy.


Can u explain ? The remote assets connected to coop ?
As an escrow holder that sold all coop shares ,do i have a problem ?

[Zalviny]

So you are Bopfan Griffin?

[cura asada]

Should the IRS have not noticed the hidden assets when they received a copy of their balance sheet and profit/loss reports icw their tax filings.