Mr Cooper Group Inc (COOP)

[wwhatthe]

It's just a question, take it as you will...

This is a question to Bart... 9/1/23

On the third Quarter 2015 CFO Report to the Board to the FDIC, on page 7
it says Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF...

The WASHINGTON MUTUAL BANK, Fund Code:10015, Failure Date:9/25/2008- Receivership Balance Sheet Summary for Period Ending June 30, 2023, (in $000's) shows Total Liabilities as $ 14,809,661.

What happens to assets after the liabilities are paid?

Answer from Bart...

Quote,

The remaining assets after the liabilities are paid are called net assets or owner's equity.

In the case of Washington Mutual Bank, the net assets are $284,190,339,000.

This means that if the bank were to sell all of its assets and pay off all of its liabilities,

there would be $284,190,339,000 left over for the shareholders.

In the case of a bank failure, the FDIC (Federal Deposit Insurance Corporation) will take over the bank and try to sell off its assets. The proceeds from the sale will be used to pay off the bank's liabilities, including the insured deposits of its customers.

Any remaining assets will be distributed to the bank's shareholders.

In the case of Washington Mutual Bank, the FDIC was able to sell off most of the bank's assets and pay off all of the insured deposits.

The remaining net assets were distributed to the bank's shareholders.

Here is a summary of what happens to the assets after the liabilities are paid in a bank failure:

The FDIC takes over the bank.
The FDIC tries to sell off the bank's assets.

The proceeds from the sale are used to pay off the bank's liabilities, including the insured deposits of its customers.

Any remaining assets are distributed to the bank's shareholders.

In the case of Washington Mutual Bank, the FDIC was able to successfully complete these steps and return most of the money to the bank's customers and shareholders.

End quote.

Please ask the question to Bart for yourself...

GLTA
Just my opinion, research and curiosity…

wwhatthe