Mr Cooper Group Inc (COOP)

[UpTickMeA$AP]

Just got word from the FDIC, and the trust.

The FDIC states:

Potential for Distributions to Subordinate Note and Equity Holders

On the day after WAMU failed, its holding company, Washington Mutual, Inc. ("WMI"), filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Case”). WMI owned all WAMU shares of stock and was the sole equity holder of WAMU. The Receiver does not currently have and does not anticipate accumulating sufficient assets to pay in full all of the allowed claims of the general unsecured creditors of WAMU. As a result, the Receiver does not project having sufficient assets to make any distributions to WAMU subordinate note holders or equity holders. Therefore, it is unlikely that any distributions will be made to WMI or its successor on its claim as sole equity holder of the failed bank.

https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/wamu-settlement.html


The Trust states:

Escrows have been deleted, deemed worthless, with no further distribution.



Nothing else is coming back. Fact.