Mr Cooper Group Inc fka COOP

[jerrylev]

Re: When are we going to see the payments to class 17 wmb notes from the main safe harbored portfolio (not just the $3B put back claims) resume?

Does safe harbor mean protection from creditors, and bondholders are kind of creditors?

I think class 17 is not paid yet because their trusts are being sold.

This is a big mess, all entangled together. OK class 17 is not in any tranche and it is the responsibility of the trust to pay. But it is the FDIC responsibility to pay and currently the FDIC uses the employee claim which is somehow tied up with CIC, to stop class 19-22 from getting paid. Misc claims are in tranche 5 or higher and so tranche 6 cannot be paid until tranche 5 is paid.

Why does the FDIC use the misc claims to block us from being paid? Is it possible that our distribution partly comes from the trust (WMILT) and partly from FDIC-R and the FDIC has to pay class 17 first before paying us?

HM, what do you think about the above scenario?