Mr Cooper Group Inc (COOP)

[RajuSondh1]

Hoping this didn't hapen to us:

Under the SPOE approach, as outlined, FDIC would be appointed
receiver of the top-tier U.S. parent holding company of a covered financial
company determined to be in default or in danger of default pursuant to
the appointment process set forth in the Dodd-Frank Act. Immediately
after placing the parent holding company into receivership, FDIC would
transfer assets (primarily the equity and investments in subsidiaries) from
the receivership estate to a bridge financial company. By allowing FDIC to
take control of the firm at the parent holding company level, this approach
could allow subsidiaries (domestic and foreign) carrying out critical
services to remain open and operating. In a SPOE resolution, at the
parent holding company level, shareholders would be wiped out, and
unsecured debt holders would have their claims written down to reflect
any losses that shareholders cannot cover.