Replies to post #505127 on Mr Cooper Group Inc (COOP)

[gjw46]

I agree with DB's fiduciary responsibilities and rights on the issue for that matter. Long Beach's paper was crap IMO and there were performance guarantees as with any other MBS of the day. DB was entrusted to deliver to terms. They had a good claim.
FDIC is not acting to protect investors out of their own funds. So that money is forseen to be available at some point coming from a place that continues to defy definition. To your question...I'm no specialist here but I thought WMIIC acted more like a trustee than an originator.
Why the trading of the WMIH shares after the initial distribution was allowed I'll never know. That should have never happened IMO.G