Mr Cooper Group Inc fka COOP

[Civil War General]

Yes, WMI did not own the trusts.

However, the proceeds due to the former WMI, the debtor in this bankruptcy, ARE the property of WMI, and are being held remotely until the bankruptcy is discharged.

Equity, both commons and preferreds, being the legacy owners of the estate, will “step into the shoes” of the former WMI, and receive the benefits of the proceeds that were originally due to WMI from these trusts.

That’s how it works.