Mr Cooper Group Inc (COOP)

[ron_66271]

FDIC Sending Demands for Indemnification.

Note the date, early-mid third quarter. The FDIC is saying that Globic is now completed. Globic is the settlement of the Derivative Insurance put-back to cover the RMBS losses.

Note that Derivatives are never mentioned, or how much DB and JPM had to cover from Derivative contracts. "alleged"

WMB securitized Mortgages Trusts into Bonds as RMBS and as bonds they where insured by the likes of JPM from Derivative contracts.

Good job, ND9.


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FDIC Seeks to Recover WAMU’s Losses for Residential Mortgage Settlement

August 2, 2021

As Receiver for failed bank Washington Mutual (WAMU), the FDIC has been recently sending demands for indemnification of losses to residential mortgage companies. The losses for which the FDIC is seeking indemnification stem from a June 30, 2017, settlement between WAMU, Deutsche Bank National Trust Co. (Deutsche Bank), and JPMorgan Chase Bank, N.A., (JPMorgan) under which WAMU paid JPMorgan $645 million and gave Deutsche Bank an unsecured receivership claim of $3 billion. The FDIC struck this deal with Deutsche Bank and JPMorgan to settle claims for up to $10 billion in damages arising from WAMU’s alleged breach of representations and warranties made in connection with mortgages sold to securitized trusts.

https://www.jdsupra.com/legalnews/fdic-seeks-to-recover-wamu-s-losses-for-9648976/