Replies to post #504731 on Mr Cooper Group Inc (COOP)

[Civil War General]

From the Globic Deutch Bank Transmittal of December 11, 2017
opening letter:
“Following court approval of the Trustee’s acceptance of the Settlement Documents, and pursuant to such agreements, on September 26, 2017 the FDIC, as receiver of Washington Mutual Bank, made a distribution of $666,328,957.38 (the “Received Funds”) to the Trustee, which amount the Trustee placed in suspense pending allocation and distribution in accordance with the Final Court Approval and the Final Allocation Approval (see Trust Instructional Proceeding Notice dated July 5, 2017). In conjunction with the distribution, the FDIC announced that this “interim dividend distribution” represents “approximately 95% of the receivership’s remaining total current assets.” The FDIC also announced that the “Receiver anticipates that it will make a final distribution at a later date.” The amounts and timing of any further distributions by the FDIC to the Trustee have not been announced by the FDIC. (See https://www.fdic.gov/bank/individual/failed/wamu-settlement.html)
The Trustee anticipates distributing the Received Funds to holders of WAMU Securities in future distribution periods after the Trustee and its retained experts have completed necessary analyses concerning allocation among the Trusts and calculations of amounts distributable to various classes of WAMU Securities of each Trust, including addressing any interpretive issues arising under the Governing Documents from such distributions. The Trustee does not anticipate that distribution of the Received Funds will occur prior to the January 2018 distribution dates for the Trusts. Distributions of the Received Funds will be included with the monthly distributions on the WAMU Securities; accordingly, distributions to holders of particular WAMU Securities will be made to holders as of the record dates for such WAMU Securities for the month or months in which such distributions are made.”