Mr Cooper Group Inc (COOP)

[SilverRose]

The PAA (Purchase and Assumption Agreement) supports this being the case on page 9, first in Schedule 3.1, last sentence: “the Assuming Bank purchases all mortgage servicing rights and obligations of the Failed Bank,” and again (though less directly) in Schedule 3.2 when it states: “All assets and assets of the Failed Bank subject to an option to purchase… shall be purchased at its Book Value.”

If memory serves me correctly, in Sept. 2008, all banks were allowed to temporarily keep mortgages off their books (until 2009?) because of how under valued housing prices were at the time.

It's not that much of a stretch that the FDIC would have delayed putting a fair market value on those particular assets.