Mr Cooper Group Inc fka COOP

[SamuraiProgrammer]

This is definitely incorrect. (Not you BBANBOB, but the AI)

🏦 Capital Stack Waterfall in the WaMu Bankruptcy

When WaMu went under, the court applied the standard bankruptcy priority:

Secured creditors – Paid first from collateral.

Unsecured creditors – Senior notes, trade claims, litigation settlements.

Subordinated debt – Junior notes, trust preferred securities.

Preferred equity – WAMPQ, WAMKQ, etc.

Common equity – WAMUQ (your shares).

💡 Key point: Common equity only gets paid if all higher-priority claims are satisfied in full.
📉 What Happened to WAMUQ

You of all people should remember about the 75%/25% business...