Replies to post #688602 on Mr Cooper Group Inc (COOP)

[JusticeWillWin]

The assets of WMIIC at the moment of the transfer to the WMILT were in the "millions" range, if I remember correctly. Yes I read the first WMI bankruptcy filing, showing $32B in assets and $8B in liabilites for WMI, which later was amended and said these 32B mainly contain the stock in WMB.

COOP is servicing not only $650, but now $796 billion in UPB, see https://www.mrcoopergroup.com/

That does not mean they have $796 billion in asssets. That is the "unpaid principal balance" of the loans. And I showed in a previous post that Nationstar already had $500 billion (sorry, cannot remember the exact number, but the range is correct, I have to look it up)

EDIT: see this PR from 2018 before Nationstar was acquired by WMIH https://seekingalpha.com/news/3370586-on-nationstar-mortgage-q2-sees-65b-upb-boarded-in-h2

Nationstar boarded $20B unpaid balance, ending Q2 at $498B; an estimated $65B UPB, consisting of mortgage servicing rights and subservicing, is scheduled to board in H2.

So Nationstar brought either the $498 billion or $498 + $65 billion = $563 billion to the table

JWW, So How Much Was WMIIC Worth?

Did you read the first day filing for WMIIC?

How come COOP is servicing more than $650 Billion loans?

How much did NationStar bring to the table?
~$30 Billion??