Replies to post #671619 on Mr Cooper Group Inc fka COOP

[$27]

RKT...both eyes glued to it. So glad you are still here.
Be well

[xoom]

Glad to see you back Ron !!!
Agree, it’s silly to keep 500B in cash, without it generating any ‘meaningful’ interest.

[ItsMyOption]

Thanks Ron for pointing that out.
In part what FDIC stated and most important as RON pointed out is they are working under FIRREA and with gag order they don't need to disclose any payments going forward.

From FDIC email
Let me re-iterate that the receivership and the liquidation trust are separate legal entities, have different roles and responsibilities, and do not coordinate on each other’s missions. Therefore, the resolution of the receivership should not impact the distribution of holding company assets held by the liquidation trust. In addition, FDIC already paid preliminary dividends under the priority scheme under FIRREA to the general creditor class. Any future dividends will depend upon the receivership’s ability to recover additional value for the receivership.

Because of FIRREA as a gag order,

JPM could transfer the $500 Billion cash on hand to the FDIC and not be required to make an public announcement. The same is true for a transfer from FDIC to Holding Company, WMIH.

For JPM to hold that much money un-invested is irresponsible. Why didn't JPM make investments at lower creation of funds?


https://www.msn.com/en-us/money/markets/jamie-dimon-says-jpmorgan-has-stockpiled-500-billion-in-cash-that-it-will-look-to-invest-as-inflation-picks-up/ar-AAL3qRh



https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165240041

The securitized Trusts as Bonds of WMB where insured by the likes of JPM.

WMI sued the FDIC for $307 Billion, of which about $7.9B has been paid back.

Hence: $299 Billion according to the FDIC for WMB and its assets.


I'm still here.
HLCE,
Ron

More later after you think about it.

RKT?
COOP can't do it, but the Holding Company, WMIH can.

[ron_66271]

FDIC Sending Demands for Indemnification.

Note the date, early-mid third quarter. The FDIC is saying that Globic is now completed. Globic is the settlement of the Derivative Insurance put-back to cover the RMBS losses.

Note that Derivatives are never mentioned, or how much DB and JPM had to cover from Derivative contracts. "alleged"

WMB securitized Mortgages Trusts into Bonds as RMBS and as bonds they where insured by the likes of JPM from Derivative contracts.

Good job, ND9.


********************
FDIC Seeks to Recover WAMU’s Losses for Residential Mortgage Settlement

August 2, 2021

As Receiver for failed bank Washington Mutual (WAMU), the FDIC has been recently sending demands for indemnification of losses to residential mortgage companies. The losses for which the FDIC is seeking indemnification stem from a June 30, 2017, settlement between WAMU, Deutsche Bank National Trust Co. (Deutsche Bank), and JPMorgan Chase Bank, N.A., (JPMorgan) under which WAMU paid JPMorgan $645 million and gave Deutsche Bank an unsecured receivership claim of $3 billion. The FDIC struck this deal with Deutsche Bank and JPMorgan to settle claims for up to $10 billion in damages arising from WAMU’s alleged breach of representations and warranties made in connection with mortgages sold to securitized trusts.

https://www.jdsupra.com/legalnews/fdic-seeks-to-recover-wamu-s-losses-for-9648976/

[ron_66271]

No One Has to Tell Us Anything.

The Holding Company, WMIH is a Private Company that owns COOP.

FDIC and JPM can hide behind FIRREA.

No 8K's required.

Holding Company, WMIH will just make distributions to their Beneficiaries without fanfare.

UQ's.

No 75/25%.

What ever belongs to Class 19, that they will receive, and no more.
My math; 2.1X in performance payments for P's, and what ever the K's get.
Yes, I own P's.

TPS are paid in full with RE/DCR.

HLCE,
Ron

[ron_66271]

RKT? COOP can't do it, but WMIH can.

The Holding Company, WMIH should be very cash rich due to JPM and their $500 Billion brag, and FDIC's indemnification demands related to Globic.


WMIH is Private and owned by UQ's.


> What If <

1. WMIH bought out RKT (~$34.5 cap) with a all cash offer of $40 billion.

2. WMIH mergers RKT into COOP.

3. COOP gives each UQ holder one COOP for ten UQ, by 125 million new COOP shares. ~121.5 million of the new COOP shares to UQ holders and the remainder remains at COOP. 200 million COOP shares outstanding (125 + 75).


> Numbers <

Combined Capitulations of RKT and COOP;
~$34.5B + ~$3.25B = $37.75B

$37.75/.2 = $188.75 new COOP share price.

Work for you JWW?


WMIH/UQ is tooo cash rich. I pay taxes on cash. I would rather have some investments also.


HLCE,
Ron