Mr Cooper Group Inc (COOP) News

Thank you very much Ron.

Chris Marshall left Mr Cooper... there were some wondering why Chris Marshall was not on conference call this week... It's because he is no longer with company

**********************
Sagent names Mr. Cooper’s president as executive chairman
Chris Marshall will be focused on helping to launch a cloud-native software platform in 2024

January 22, 2024, 12:30 pm By Connie Kim

Sagent, a fintech software company providing a servicing management platform for banks and lenders, appointed Chris Marshall as executive chairman. Marshall is vice chairman and president of Mr. Cooper, but announced plans to retire last year and will transition out of his role leading Mr. Cooper’s businesses at the end of January.

His term as executive chairman began on January 19.

https://www.housingwire.com/articles/sagent-names-mr-coopers-president-as-executive-chairman/

LG

where did Coop say

COOP advised they will divulge the name of the highly important client in the second quarter ?

Thanks

I Like this Poster.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174267065

Please remember that the MBS are insured. That means minimal risk to the issuer of the notes.
The function of LIBOR Litigation is the resolution of the Derivative Market that insured the notes.
CDS, CMO…
The derivative contract writer’s owe Us money for the MBS notes losses.
It’s called ‘insurance’.

With LIBOR; JPM and friends are just asking ‘how much do we owe you?’



Ron

Nice to finally see the share price predictions/targets in the high $80's and even in the $90's. Amazing how even those targets are low relative to actual performance/results.


AIMHO, STRIKE

Thanks Large! Gltu

Roulette comes to mind.

The Market is a Roller Coaster. A Casino if you will.

WAMU was a Thursday, very uncommon to other banks that get seized.

I'm still trying to wrap my head around as to why a LIBOR settlement is needed first, etc. If JPIG didn't pay the "correct" price for WAMU to begin with, then what changed/changes with this settlement. These two events are independent of each other.

If WAMU, or WMI was harmed by LIBOR, then why didn't they institute the lawsuit instead of the FDIC?....the reason is WAMU,WMI did not have a case, or was harmed, but the FDIC was in insuring the Liabilities of WAMU Banks which they were not being paid for !!!!! duhhhh.....so, since the FDIC does not borrow money, they were harmed by the bogus interest rates ,not the banks.....Lodas

Just afraid FDIC will come up with another reason not to pay.

Whether it's on a Thursday or a Friday, it doesn't matter, as the taxpayers' hard-earned money was protected in an exemplary and heroic manner in both cases. Read the 2013 WMIH 10-K, check out our great charts, trade options or get a day job if you need money! Move along, there's nothing more to see here!🤣

Every LIBOR Settlement is Good For Us.

Us is WMI, Lehman’s and F&F.

We are all included in the Derivative Market correction process of LIBOR (CDS/CMO…).

Our ABS(MBS/RMBS…bonds) were insured by the CDS…
WMI, Lehman’s and F&F all reinvested in their bond offerings.
Required to hold 15% minimum of their offerings.
Many Hedge Funds are invested in the same bonds we are.


Here is a great post;
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174314875



Ron

Ron, could this be connected to the agreement made between JPM, Deutsche Bank, the FDIC and WMI that was agreed on in 2017 or 18? If so, and if my memory serves me right, that was supposed to be the last agreement in the waterfall before shareholders started getting wet. I specifically recall a quote from one of the court filings where JPM and Deutsche Bank had outlined the percentages each would get “if” funds came back from the FDIC. If the FDIC is currently calculating Libor adjustments, that ought to reduce if not eliminate - or even change the outcome to be in WMI’s favor, since both JPM and DB were implicated in the Libor scandal.

Wow, can you really believe that it got seized on a Friday?

Republic First Bank , a $6B institution gets seized yesterday, bought out the same day by Fulton Bank which agreed to assume substantially all of the failed bank’s deposits ($~4B) and buy essentially all of its assets, yet the FDIC states it will cost them $667M? So the FDIC is paying Fulton $667M to take RFB? How did the FDIC sell a bank the same day they seized it and how many other banks had an opportunity to bid on it? Oopps! I forgot, the FDIC gets do what ever they decide they are going to do... Rinse/Repeat.

https://fortune.com/2024/04/26/philadelphia-bank-implodes-failure/

How soon you forget the Illegal Fifth Admendment taking of WAMU.

I'll get my millions, but there is no soup for you!

The borrowers and the FDIC was harmed by LIBOR, not WAMU... why?... WAMU just passed the higher interest rates to those that took out loans... The FDIC was harmed because they were over insuring the Liabilities of the WAMU banks and was not being compensated from the fees they got from the banks...WAMU was not involved in derivative contracts so they did not suffer losses like AIG did, and had to be bailed out,,,, WAMU sold home loans to GSE's, and MBS were packaged in Tranches and sold off to investors... there will be no LIBOR settlements going to WAMU, or WMI, .... the FDIC will keep any settlement monies to work off the 14 billion dollar loss on WAMU's balance sheet caused by the 16 billion dollar "run on bank deposits"...Lodas

COOP FAIR VALUE = $237.13
Why is it gong down so much? We were over $81.00 and the earnings were good. What's going on?
https://simplywall.st/stocks/us/diversified-financials/nasdaq-coop/mr-cooper-group/valuation

Yes, I don’t buy the “hedge fund ride” theory.

JHD

We don’t have much choice.

Hedge funds can wait long time. Not good for individual investors because of limited lifetime.

Good post!!

Xoom, if that is so, I'll be one very happy camper!

FFS still no cash?! Jack AZzzz’s! LOL

7. Assets of WMI's Non-Debtor Subsidiaries, Other than WMMRC
Pursuant to applicable law, and as stated by the Bankruptcy Court at the March 21, 2011
hearing, the Bankruptcy Court's jurisdiction is limited to assets of the Debtors and not to those of any
non-Debtor subsidiary. However, because the value of the Debtors' interests in such non-Debtor
subsidiaries and non-Debtor assets, including WMMRC, ultimately accretes to the benefit of the Debtors'
chapter 11 estate, the Debtors have reflected such value in their liquidation and recovery analyses. To
provide parties in interest with additional information, set forth below is information related to WMI's
direct and indirect subsidiaries as of the Petition Date, including WMMRC, as well as historical
information regarding any transfers of assets by WMI's non-Debtor subsidiaries from and after the
Petition Date. Pursuant to Section 1. 140 of the Seventh Amended Plan, WMI's Equity Interest in all of
its subsidiaries, except for WMI Investment, WMMRC and WMB, will be transferred to the Liquidating
Trust. For the avoidance of doubt, and as set forth in more detail below, with the exception of a few de
minimis residential real estate properties held by Ahmanson Obligation (defined below) as a result of
mortgage foreclosures, neither the Debtors nor their non-Debtor subsidiaries hold any real estate.
Page 49/129
https://www.kccllc.net/documents/8817600/8817600191119000000000001.pdf

This is a good reminder and the detractors have not really addressed this so I invite them to tell me why these guys have not been heard from.

This is what Boris wrote on 4/18.
401804/17/2024PROTECTIVE ORDER AND STIPULATION.regarding procedures to be followed that shall govern the handling of confidential material. So Ordered. (Signed by Judge Naomi Reice Buchwald on 4/17/2024)

This the FDIC settlement which is confidential. Hopefully because it’s too big to be out in the open.

This is not the FDIC settlement. Minor, only 3,45 Mil.!!!

ORDER (1) PRELIMINARILY APPROVING SETTLEMENT

WITH DEFENDANTS CREDIT SUISSE AG, LLOYDS BANK PLC, BANK OF SCOTLAND PLC, NATWEST MARKETS PLC, PORTIGON AG, WESTDEUTSCHE IMMOBILIENBANK AG, ROYAL BANK OF CANADA, RBC CAPITAL MARKETS, LLC, COPERATIEVE RABOBANK U.A., THE NORINCHUKIN BANK, MUFG BANK, LTD., AND UBS AG; (2) CONDITIONALLY CERTIFYING THE SETTLEMENT CLASS; (3) APPOINTING SETTLEMENT CLASS COUNSEL; (4) APPROVING CLAIMS ADMINISTRATOR AND ESCROW AGENT; (5) APPROVING NOTICE PROGRAM; (6) PRELIMINARILY APPROVING PLAN OF DISTRIBUTION; AND (7) SCHEDULING A FAIRNESS HEARING in case 1:11-cv-02613-NRB; granting (4009) Motion to Approve in case 1:11-md-02262-NRB. NOW, THEREFORE, the Court having read and considered the Settlement Agreement and the submissions relating thereto, upon all prior proceedings in the Action, and after due deliberation, IT IS HEREBY ORDERED: As further set forth by this Order. 1. Preliminary Approval of Settlement Agreement. The Court preliminarily approves the Settlement Agreement and the terms and conditions set forth therein, including the release contained therein, as being fair, reasonable, and adequate as to the Settlement Class (as defined below in paragraph 3). The Court finds that the Settlement Agreement was entered into at arm's-length by highly experienced counsel and is sufficiently within the range of reasonableness that notice of the Settlement Agreement should be given as provided in this Order. 2. Fairness Hearing. A Fairness Hearing pursuant to Rule 23(e) of the Federal Rules of Civil Procedure is hereby scheduled to be held before this Court at 11 : 30 a.m. on September 5, 2024, [a date at least 120 calendar days from the date of this Order] in a format to be determined by the Court that the Court will announce on the case docket in advance of the hearing. The Court preliminarily certifies, for purposes of settlement only, the Settlement Class identified below and finds that the Settlement Class satisfies the requirements of Fed. R. Civ. P. 23(a)(1)-(4) and 23(b)(3). 17.Stay. Unless otherwise ordered by the Court, the Court stays all proceedings in the Action against the Settling Defendants other than proceedings necessary to carry out or enforce the terms and conditions of the Settlement Agreement. 18. Settlement Funds. The cash consideration provided for in the Settlement Agreement is $3,450,000. Payment of the Settlement Amount by Settling Defendants shall be made pursuant to the Settlement Agreement. IT IS SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 4/26/2024) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB (tg) Transmission to Finance Unit (Cashiers) for processing.

https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262



Ron

This was expected to drop back down….yet it will go back up…

Quote: “for what is now' soon to come ! ! “
We are almost there….another decade or two or three or never and old escrows will get those ghost payments……yeah!! Cactus is the man…..

Mr Cooper growing earnings at 15-20 pct. At $10 in earnings stock should be $150-$200

Exactly, COOP's fair value was $200, now with the lower P/E even more IMO, see

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174283852

After the recent earnings, the PE ratio is now only 8.25, I think it was over 10 earlier, the stock should be trading much much much higher.

Not AZ, but the 36,000,000 new COOP could be for original WAMUQ commons
The multiplier you would use with your original WAMUQ common share count would be 0.03

So if you had 50,000 original WAMUQ, then you could expect
50,000 * 0.03 = 1,500 new COOP shares

For overall numbers:

1,200,000,000 (TOTAL UQ commons) * 0.03 = 36,000,000 new COOP shares

(Current pps of $78.xx could rise or fall depending how market absorbs the news)

After the recent earnings, the PE ratio is now only 8.25, I think it was over 10 earlier, the stock should be trading much much much higher.

Hopefully we are riding the Hedge Fund coattails and they are powerful enough to ensure we don’t get screwed..

Nd9

Holding my breath.

The FDIC has stated consistently they can not close the Washington Mutual case until all legal proceedings are closed. Besides LIBOR, there were about 6 cases last time I checked that were not settled. Sep,2023. They didn't even go after them until the deadline for bringing cases was looming last summer.

Would love to see them all closed and the case closed @ the FDIC but not counting on any windfall. FDIC has a lot of discretion to apply LIBOR settlements the way they want and where they want. So what's to keep them from building a "war chest" and justifying it by stating future bankruptcy case may require additional funding.

Think about how the FDIC has acted to date. No urgency, boiler plate responses to inquiries "currently we do not anticipate...", and glib responses to inquiries from shareholders. Further, how has the entire government treated this case? 5AT, changed laws to prevent another Washington Mutual holding company scenario, and clearly in the "WGAS about the shareholders camp"... Not holding my breath for the government to do the right thing but maybe they will surprise us?

AZ

I think this means, what I shows today in my 'history' portion on my Schaub account,
I will only be awarded 1/3rd of that total ($) per escrow when that day comes.!

Am I correct ?

thank kindly

J$J

If they can create a political charade they can do anything...I no longer wait each day for escrows to appear but hold a one percent chance anything is possible.

Meanwhile I enjoy the COOP ride and where this company is headed.

Respectfully,

JHD

~ "Defined" ... "COOP's" (current) Common Share pps, Is Directly' Related To a (2/3rd ish') Original Released WMI / WMIH (wamuq) (Plan) Common Share ~

The Following Transitional Event(s) ... were only' related to the WMI wamuq released common shares' ...

initial conversion @ .03349842 on 03/27/2012

conversion completion @ .00076346 on 08/03/2012

the tracking of the plan 7' released WMI (wamuq's) had to be "perfect" (in my opinion, for what is now' soon to come ! ! - COOPs return to 100m shares' ... yes, all planned for, a very very long time' ago ! ! ! )

any and all excess P' ... "Cash In" ... funding, would always have been maintained within the WMI / WMIH "Preferred Managing Sub" (segregated & NOT' involved in the Holding Company's Reorg) ... always maintained and held, for the original P' Fixed Income Bond, releasing Plan Participants' ...

yes, it's all coming together

"Abba Da Ayy"

just sayin' :) :)

AZ

So far they had always said there were open claims and no funds. With the LIBOR settlement that issue should no longer be valid. Let’s wait another couple of years.

I’m sure that they would provide you with useful information. They have had almost 16 years to do so and yet we’re still waiting!

What the price target have to do with wamu equity?

👉👉👉Chart=======>BREAKOUT of 4th BULLISH FLAG

Next leg up soon?

(click chart to zoom in)

There were other people on this board in the past that corresponded with the FDIC.

And...how exactly would you accomplish that?

Maybe a good idea to check early next week with FDIC if they can now complete the bankruptcy as there should be enough funds to cover any deficit that remains and the leftovers to us.