Mr Cooper Group Inc (COOP)

[LuckyPanda]

Does FDIC or DB control safe harbor distribution?

If we all believe that the portfolio under safe harbor protection really belonged to WMI and not WMB, then technically it is not part of the FDIC receivership -- which has control of the bank sale related assets, not WMI assets.

Maybe, this is why the Wamu loan portfolio assets were always listed as "off-balance" on the receivership ledger.

It is possible that WMI loan portfolio is simply being shielded by safe harbor for solvency risk issue and the timing of its distribution is solely controlled by its trustee, DB.

Then it makes sense to reason, that once DB gets final distribution approval from the judge, it will be the entity in charge directing FDIC to distribute the assets under safe harbor.

So who really has control for release? FDIC or DB?