Replies to post #672293 on Mr Cooper Group Inc (COOP)

[PickStocks]

Trueinsider, has a good insight. Let’s see what he comes up with….

[redisnieurt]

Maybe somewhere between 25-33%....

Also, I dont know where the 692B came from. I initially just accepted that number as the starting point, but it seems extraordinarily high.

Remember, all of these Trusts are related to Long Beach Mortgage which was essentially the Sub-Prime Lender under Wamu. It's a relatively small part of the full production WaMu would have in a given year.

I found a link that shows that WaMu did 195B in total production in 2006. So, most of this would have been agency eligible, and some would have been non-agency eligible that was securitized and sold privately. And some of this production would have gone into the WaMu loan portfolio. So I'm thinking 10-15% of this would have come through Long Beach. So I'm thinking Long Beach was doing maybe 20-25B per year. It would take dozens of years to add up to 692B in volumes.

So again, even if the "mechanics" of how this would unfold have been accurately described, I'm thinking the starting number simply is MUCH lower (like maybe 100B), and the ending number is soemwhere between 25-30% of that.

Again, I have no actual information about any of this. It's simply based on my first hand experience there.

http://www.mortgagedaily.com/WaMuProduction011708.asp