Mr Cooper Group Inc (COOP)

[porkchopranch]

From the FDIC reply to me:

2) The Receivership did not accidently/improperly seize any assets of WMI.

3) As you noted in your request the Purchase and Assumption Agreement did not include Schedule 3.1a. The FDIC did reference the following on the WMB Receivership webpage the following:

“ATTENTION: The reference to "Schedule 3.1a" in Article III, Paragraph 3.1, (page 9) of the
WAMU P&A Agreement is a scrivener's error—there is no Schedule 3.1a”

The link to the WMB Receivership webpage is:

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


Given the immediate need to close WMB in September of 2008, the Receivership was unable to itemize assets, the Purchase and Assumption Agreement reflects the intent of the Receivership to sell everything to Chase except those items specifically excluded in the agreement. Consequently, the agreement did not require itemization to transfer assets and business lines that were not excluded.

4) The bid amount of $1,888,000,000 was not amended and no other funds were paid by Chase under the terms of the Purchase and Assumption Agreement.

5) The Purchase and Assumption Agreement with Chase was for 6 years and expired on September 25, 2014.