Mr Cooper Group Inc (COOP)

[David West]

CarGuy64, it is very simple.

Wamu only lost (Net Operating Loss = NOL) Washington Mutual Bank and its subsidiaries, and abandoned its WMB stock; the $300B+ in mortgages and loans were not lost. WMI/WMB hid them in plain sight as 'exempt assets', which were not a part of the assets used in the bankruptcy proceedings. However, they are not exempt from FDIC-R who is now liquidating them. If any money is left over after the FDIC-R has paid themselves, WMI/WMB’s creditors, and any other allowable claims, the cash will be returned to the liquidating trust to make its way through the waterfall.