Mr Cooper Group Inc (COOP)

[Planet Paprika]

Yes that`s correct. However, there were these "$ 15" she mentioned. some poster criticized.

Now, my own dd...

I have meticulously proven, another board, `nother country, that the FDIC is

above the SEC, above ALL institutions, above the DTC (!!!!!) stands .....
and can and may ONLY be influenced by the POTUS or the Senate.

O-quote FDIC : " we don't have to do ANYTHING "
or here only one example from the Handbook for Settlements January 15, 2019...............Chapter 5 Receivership Process - Post-Closure Activities.

"Congress has recognized the importance of deposit protection to the stability of the national economy. For this reason, THE CONGRESS HAS GIVEN THE FDIC SPECIAL AUTHORIZATIONS FOR THE LIQUIDATION OF ASSETS OF FAILED DEPOSIT INSTITUTIONS AND THE PAYMENT OF CLAIMS AGAINST THE Bankruptcy Estate.

The FDIC, as receiver, is NOT subject to the direction or supervision OF ANY other agency or department of the United States or of any state in the operation of the receivership.

Similarly, the COURTS are prohibited from seizing or executing assets held by the FDIC.

However, these statutory provisions DO NOT PREVENT the recovery of DAMAGES."

These provisions ALLOW THE RECEIVER TO OPERATE WITHOUT interference from other executive agencies and to EXERCISE HIS DISCRETION in determining the most effective resolution of the institution's assets and liabilities.

Pursuant to the National Depositor Preference Amendment and related duties, claims will be paid in the following order of priority:
1. administrative expenses of the receiver
2. deposit liability claims (the FDIC claim takes the position of all insured deposits)
3. other general or senior liabilities of the institution
4. subordinated liabilities
5. SHAREHOLDERS' CLAIMS

Payments on any of these claims are referred to as "DIVIDENDS."

Other claimants can SUE the FDIC, but they cannot seek injunctive relief, and their damages are LIMITED to the AMOUNT they would have received in a liquidation.

However, the FDIC is not just the BIGGEST creditor.
A detailed examination of the capital structure of failed banks shows that the FDIC is usually the ONLY major creditor and that the value of the FDIC claim almost always exceeds the value of a failed BANK's assets.
V. Bank holding companies and nonbank financial companies.
So far, this article has focused on controlling the resolution of failed BANKS.

V. Bank holding companies and non-bank financial companies.
So far, this article has focused on controlling the resolution of defaulted BANKS.

WE NOW TURN TO HOLDING COMPANIES,
that own the stock of these banks or companies that provide financial services.
Most banks are TOUCHHOLDING COMPANIES of bank holding companies whose banking subsidiaries are wound up by the FDIC.
While their bank subsidiaries are being wound up by the FDIC, the bank holding companies and their nonbank subsidiaries can and do (did ) seek protection under the Bankruptcy Code.

Part III argued that the FDIC should have the power to dispose of a failed bank's assets because it is the remaining claimant to those assets.
(Note: this is how it came to be, which was most clearly criticized by the authors here, : )
In this section, we ask whether this justification supports proposals to change the resolution process for certain bank and financial holding companies. We conclude that it does NOT.

THE COMPREHENSIVE FINANCIAL REFORM ACT RECENTLY ADOPTED BY CONGRESS MODIFIES ( but) THIS ALLOCATION of resolution authority for the largest bank holding companies and nonbank financial companies.

My opinion : Not good, the law would (have) APPLY TO US ......it does NOT.
Came TOO LATE, sorry Sheila.
Resolved WAY AND AFTER the WAMU case )
see among many legislative changes " the creation of a sub-agency under..... :

hehe : ....natural FDIC omnipotence !!
: Legislature CREATES AN "Orderly Liquidation Authority" (OLA) for "Covered Financial Companies". "Covered Financial Companies" essentially include
bank holding companies, their nonbank and broker-dealer subsidiaries, and nonbank financial companies whose revenues are derived primarily from financial activities.
These companies are subject to the OLA's SPECIFIC resolution process if their actual or probable failure would have a "serious adverse effect on financial stability in the United States."
The initiation of Resolution Act proceedings DEPRECIATES the Bankruptcy Code and terminates an ongoing insolvency proceeding of the holding company or its covered subsidiaries.


Bottom line : almost all posters have been writing for a long time how elementary the fdic-wmb completion of the receivership is. i say if alice appeal time is over and logan and smith complete the trust, above all else fdic MAY continue to be a KEY reason for all the delays even if sec and dtc HAD an ok. from trustees.....
IMHO