Mr Cooper Group Inc (COOP)

[Dmdmd2020]

My post earlier on boardpost.net:

https://www.boardpost.net/forum/index.php?topic=13075.0

“Per the FDIC website:

https://www.fdic.gov/bank/individual/failed/wamu.html

“VII. Possible Claims Against the Failed Institution

On September 25, 2008, Washington Mutual Bank was closed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation was named receiver. Subsequent to the closure, JPMorgan Chase acquired the assets and most of the liabilities, including covered bonds and other secured debt, of Washington Mutual Bank from the FDIC as Receiver for Washington Mutual Bank. Any claims by equity, subordinated and senior unsecured debt holders were not acquired.

There was no publicly-owned stock in Washington Mutual Bank. If you are an equity shareholder, your shares are in Washington Mutual, Inc., the holding company for Washington Mutual Bank, and not the Bank. Washington Mutual, Inc., and the interests of equity, debt holders or other creditors of Washington Mutual, Inc., are not included in the closure or receivership of the Bank. Washington Mutual, Inc. filed for bankruptcy protection on Friday, September 26th. Please contact Washington Mutual, Inc. directly for information about this bankruptcy proceeding.“

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IMO...conclusions as of September 06, 2018:

1) WMI equity interests (i.e. WMI Escrow Marker Holders’ beneficial interests in certificate participation in MBS Trusts created by WMI subsidiaries) were bankruptcy remote and the FDIC explicitly explains that those same WMI equity interests are not under the jurisdiction of the FDIC either.

This proves that the WMI equity interests could not be sold by the FDIC to JPMC or any other entity.

2) WMI Escrow Marker Holders are the only and true rightful owners of the WMI equity interests.