Mr Cooper Group Inc (COOP)

[hotmeat]

WMI was never put in receivership, correct?

Correct. WMB was placed into Receivership


So the assets from WMI goes back to WMILT and not through FDIC-R, correct?

Yes. All assets of WMI will be liquidated and distributed by the LT to LTI's redistributed (now held by Piers holders) to our brokerage accounts once all senior classes are paid in full.


And so if FDIC-R closes its door, WMILT can still distribute money directly to those who signed release and not through FDIC-R, is that correct?

IMO, once the FDIC can pay off the WMB Notes (~$13B) and DB claims (~$2.4B) in full any remaining cash will be distributed to Equity (Pref and Commons). The FDIC has no record of our holdings so any such payment will have to be funneled through the LT to our LTI's. IF, as AZ claims once the CIC occurs and the WMB Notes transition to JPM, the FDIC will need to pay only DB's remaining claim before Equity is paid.