Mr Cooper Group Inc (COOP)

[Duyrowndd]

UpTickMe That is a good quote. Glad you got it from the powers that be. Nice way to cherry pick in an attempt to make your point

"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."

Of course, nothing is coming to WMI from "WAMU". We all know this.

This quote is being presented in a context that is meant to ferment doubt and twist facts to infer something that was not said by the FDIC - that ALL Washington mutual entities have no value. This is wrong and not what is said in this FDIC release. This Statement ONLY deals with WMB - or "WAMU"

From this point on I use WAMU to refer to WMB

What we are all waiting for is the assets that WMI had before WAMU, a subsidiary of WMI, went BK.

WMI followed Wamu BK with their own BK - After losing their cashflow engine in the seizure - they became insolvent - they too needed BK protection for the remining assets. This is why it was a chapter 11 and not a chapter 7 BK

WMI was a holding company and had tons of assets in multiple subsidiaries prior to the WAMU BK. They were put there to protect and manage them. All banks do this.

The shareholders invested in WMI not WAMU.

WMI assets were not part of the WAMU BK due to the structure of the incorporation. WAMU was a separate corporation. WMI was bankruptcy remote from WAMU.

Statement from FDIC is factual, but you misconstruing it by inferring that it relates to WMI. It does not. WAMU BK is NOT WMI BK

It is OK that litigation tracking escrows were deemed to have no value. Because they had no value based on the WAMU BK litigation on which they were based.

The key here is WMI Chapter 11 and what was discussed in court about how the residual assets would be distributed. BK remote for the shareholders.

WMI has plenty of leftovers in multiple subsidiaries which will eventually be distributed.

That WMI shows no money on the books because they were made by the courts to be BK remote to protect them. They are sitting in organizations running as Delaware Statutory Trusts and held remote from the BK. WMI was found to be insolvent - meaning not enough cash flow - but asset rich.

We will see how these assets flow back in time

So here we all sit waiting