Replies to post #119320 on Mr Cooper Group Inc (COOP)

[Rumble]

The MOR shows only the cash and bank accounts of WMI and WMI Investments. Right now they are waging a legal battle, and of course the cash balances are being spent down. They still hold plenty of cash for the intermediate term, and are lining up assets to emerge from bankruptcy.

Part of the statement in the MOR, is that it shouldn't be relied on for investment purposes. It is not a complete financial statement, only what is required of bankruptcy law while they are in chapter 11 filing.

Have patience, the whole picture will come clear in the near future. I have hope by the end of the year, or early next year.

[Dragynn]

There is also no proof to suggest Weil or anyone else is considering canceling them either. To comment either way, is not much different than musing on whether the sun will explode tomorrow, in truth, it's a 50/50 chance, but the smart money is betting it rises just like it has every day that any of us has been alive.

The document you are referencing, the Sept. MOR, is also at the SEC, but somewhat abridged and in HTML instead of PDF, just seems a little easier to get through. And I agree with you, everyone should read it thoroughly, the section regarding cash and cash equivalents owned by WMI in a Chase account is especially juicy!

Looks to me like JPM is holding over 4 billion of WMI's cash, and THAT amount, has gone up in the last year!

http://www.sec.gov/Archives/edgar/data/933136/000090951809000754/mm10-3009_8ke991sep.htm

[cashgrinder]

i read that the liabilites dropped signifacantly. I am pretty sure they won the liability case against IRS and 10b owed in taxes or soemthing like that. I can dig further when time allows.

I feel either they get a fair settlement and sell or emerge and conduct business as a new entity. I just dont see them going away quietly like you suggest. You like many know alot of facts in the case. I dont understand how you can appear so knowledgable and think there will not be some kind of settlement. NO judge is going to rule with JPM or the FDIC in this case especially since many of the facts are clear as day.
The only question is that is the settlement in 3 months or 5 years IMO.