Mr Cooper Group Inc (COOP)

[boarddork]

Think of it like a house closing. I flip houses and when the sale closes, I'm the last one to get paid, lol.

As I sit down in the Escrow office for one last transaction - for each and every hud statement within escrow (the final final transaction) - the banksters get paid, title gets paid, govt property taxes get paid, 2% Govt excise taxes get paid (WA state), utility bills get paid, escrow fees get paid, each realtor gets paid......first, before me, even though I'm the guy who owns it all.

And then and only then, I get a check!


The FDIC's reconciliation of a P&AA (to overly simplify) is like a house sale closing.

We, those who released, will get paid when all the parties earlier in the transaction get paid. Frustrating to wait, but there is an inevitable Happy Life Changing Event at the end of this transaction.