Mr Cooper Group Inc (COOP)

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Not sure if this has been posted on the MB. Below is an blip from the 2019 FDIC Annual Report. On page 44 it states the FDIC will distribute proceeds then terminate the receivership. There have been discussion on the board concerning the signing off of the receivership with the thought that this would start the flowing of dollars to escrow. From this it appears the process is all is paid prior to the signing off of the receivership.

https://www.fdic.gov/about/financial-reports/report/2019annualreport/2019ar-final-noblank.pdf#page=11



Receivership Management Activities Te FDIC, as receiver, manages failed insured depository institutions and oversees their subsidiaries with the goal of expeditiously winding up their afairs. Te oversight and prompt termination of receiverships help to preserve value for the uninsured depositors and other creditors by reducing overhead and other holding costs. Assets remaining after resolution are liquidated by the FDIC in an orderly manner, and the proceeds are used to pay receivership claimants, including depositors whose accounts exceeded the insurance limit. During 2019, receiverships paid dividends of $1.2 million to depositors whose accounts exceeded the insurance limit. Once the assets of a failed institution have been sold and its liabilities extinguished, the fnal distribution of any proceeds is made, and the FDIC terminates the receivership. In 2019, the total number of active receiverships under management decreased by 28 (10 percent) to 248. Further, the FDIC terminated more than 75 percent of new receiverships within three years of the date of failure.