Mr Cooper Group Inc (COOP)

[LuckyPanda]

Escrow payment by May 31?

According to the DB-JPM-FDIC settlement, finaly payment by FDIC to JPM is required within 10 business days of "effective date" - which I assume will be May 17 when the probate court in california approves the settlement.

https://www.fdic.gov/bank/individual/failed/wamu_dbntc_jpmc_fdic_settlement.pdf

I assume, once the probate court approves the settlement, DB will be discharged as the trustee, and the trust will have to be dissolved, and hence, the assets will have to be distributed.

Does anyone know if the assets of the trusts need to be distributed before the probate court date?

or does the probate court need to approve the distribution first and then it happens?

I assume that DB cannot be discharged as trustee by the probate court until the trust assets are fully distributed.