Mr Cooper Group Inc (COOP)

[hotmeat]

Quote: "Assets outside the BK case (safe harbored MBS Trusts beneficial interests): residual assets will be distributed according to the individual PSA (Pooling and Servicing Agreements) of each MBS Trust."



Have you ever come across a PSA that specifies how Trust payments would be treated in the event of a bankruptcy or receivership of the Originator/Depositor?



Not sure how a PSA written years before the bankruptcy/receivership occurred could predict the cancellation of WMI's stock and thus determine how residuals would be distributed.