LODAS
""I just don't see why WMI has to purchase something that already belongs to them"" As far as we know RIGHT THIS MINUTE there is only WMIH/COOP and ALL HERE NEED TO GET IT THROUGH THEIR COLLECTIVES HEADS WMIH the reorg'd DEBTOR can NOT EVER be given the OLD ASSETS, states it PLAIN and CLEAR in the GSA/POR
I guess ya missed all the CLASSES on SAFE Harbor and the requirements for something to be classified as being in SAFE HARBOR.
IMHO WMI (NOT WMIH NOT COOP) owns only one thing relating to those assets, THEY HOLD/OWN THE BENEFICIAL INTERESTS to any payments DUE (principle and interest)
Just like COOP may have those and MAY be servicing, BUT AS A SERVICER, they ONLY get the servicing fees and the principle and interest goes to WHOMEVER it is due to go to, LIKE SAY WMI and ESCROW HOLDERS
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