Mr Cooper Group Inc (COOP)

[hotmeat]

Firstly I am no expert on these subjects so all is strictly IMHO based on what I've read and memory.


Honestly I don't see us receiving a distribution from DB since we never received any notification from DB when the probate judge ordered such and to date have received no indication we are eligible from either DB or the LT. Is it still possible?...Yes, but IMO unlikely.

Yes the FDIC has the legal right to wind up the receivership and distribute funds to official claims when they deem fit. The 10yr rule is not official so it could actually be longer. Again, not to be negative but, I don't see Receivership funds being distributed before resolution.

In any event I believe the delay is due to the complexity of WMI's relationships and interests with it's subs. The sheer volume of assets to be accounted for and ownership interests to be determined is a monumental task by itself. This in addition to the normal bureaucracy that plagues every government entity.

In any event WMB Notes are first in line to the tune of approx. $15B or so. IMO, no distributions will be made of WMB or WMI seized assets until the FDIC ensures that they have obtained those funds to satisfy those Note-holder claims.