Mr Cooper Group Inc (COOP)

[nursejeffv2]

I was tring to convert my traditional IRA where my escrows are held into a ROTH as some on this board has said is possible.

Two things:
1. Fidelity said this is not possible. Has anyone here done this with Fidelity and if so provide me the details so I can use that as leverage.

2. Read my conversation.They are projecting future payments


Fidelity: Alright, I was able to get further clarification on the position for you. What the position for Washington Mutual you see in the Traditional IRA account is an Escrow position which is a placeholder from the company to earmark you account for any distributions they may pay. This took effect when Washington Mutual went through their bankruptcy process.

At this time, they are projecting future payments; however, there is no schedule for the payments.
Once Washington Mutual declares no further payments will be made, the Escrow position you see will automatically be removed from the account.


Fidelity: Because this is not a tradable position, and will never be, it is not eligible to be converted.