Mr Cooper Group Inc (COOP)

[AZCowboy]

~ The 1.8 billion paid and being referred to ~

was nothing more than a procedurally required payment, equalling 1% of the seized banks deposit base ... paid by the designated receiving bank to the FDIC as an administration fee ...

This administration fee paid to the FDIC, by JPM (the receiver, in our case) is a separate consideration from the WaMu Estate ... JPM paid a 1.8b admin fee to the FDIC, to gain access to the WaMu deposit base, in an effort to service the 188 billion dollar WaMu customer deposit base

All FDIC seized institutions do not have a receiving bank, or a parent corp in BK protection, ... however ... ALL FDIC seized institutions with a designated receiving bank, all have the same thing in common

... the receiving bank' is required to procedurally pay a 1% administration fee to the FDIC to access the servicing rights to the seized financials deposit and customer base' ... The FDIC does its best to maintain the customer continuity, and charges a 1% administrative fee for the transfer ...

Yes, a banks deposit base is considered a liability for accounting purposes, because the funding is actually owned by depositors, ... however, a banking structure can not function without a deposit base'

AZ