Mr Cooper Group Inc (COOP)

[WithCatz]

RicoS -- the FDIC is suing on behalf of WMB as a failed institution that ended up their receivership.

The FDIC has prescribed payment order. Any monies received go first to their administrative expenses related to WMB, then next goes to WMB Bondholders (which got nothing, and are owed something like $1.5B) -- and then anything else goes to former equity via the WMILT.

It is unlikely that any monies received by the FDIC would approach paying the WMB Bondholders off... so beyond that is likely moot.

...Catz

P.S. @All -- I'm talking WMB Bondholders -- they got zip from the FDIC and were issued IOUs by the FDIC. I am NOT talking about WMI Bond/Noteholders who were part of the POR and subsequent waterfalls of the WMILT. Two different things.