Mr Cooper Group Inc (COOP)

[ron_66271]

The WMB Notes are Covered Securities.

The Asset backing for the WMB Notes is ~$26 Billion to cover a ~$14 Billion claim.
The valuation of these assets is still pending due to the LIBOR Litigation.

The FDIC will start dividend payments before the Receivership closure.

The WMB Notes are JPM’s responsibility. And JPM needs to pay full book value for the WMB Notes backing assets over and above the notes obligation.

So yes equity can receive payment before the WMB Notes.
Not our problem!!



Ron