Replies to post #690359 on Mr Cooper Group Inc (COOP)

[cassiecasa]

Thank you ron for sharing your knowledge.

[MONICALAW]

Thank you Ron.Bliss

[PickStocks]

Yes, hosen did put in a claim for FDIC and JPM but also drop the suit. Hosen was trying to get them to the table and shortly stated equity should be wiped out but failed as well.

[redisnieurt]

Honestly, do you have any actual knowledge of how ANY of this works?

Quote: WMI Sued The FDIC for WMB Valuation of $307.2 Billion.

WMI knows the true value of WMB.

The FDIC response; “$299 Billion for WMB and it’s assets”, after $7.9 Billion returns to the Estate.
The numbers work!
Now factor in “Willful Misconduct”.

The 307B you are referencing is simply the asset size of Wamu. You need to subtract the liabilities to arrive at the actual "book value" of WaMu.

WaMu had roughly 30B in equity at the end. It was trading WELL below book value, so it's market cap was dropping constantly and got to about 3B.

The idea that a company that had 300B in assets and equity of about 30B somehow had 86B stashed away that nobody can track down is frankly insane.

[yes9]

Thanks Ron!