Replies to post #534841 on Mr Cooper Group Inc fka COOP

[hotmeat]

Quote: "WMI was a Holding Corp, not a Bank Holding Corp. Therefore the FDIC had no oversite of WMB. Yes WMI bought FDIC Depositor Insurance and met all FDIC insurance guidelines."

But the OTS did and were instructed by the FDIC to seize WMB, which they did and the bank was placed into FDIC Receivership.





Quote: "WMB was a 5AT, see #5885 Foot note 2 (yes I know you don't read footnotes). Due to the Fact of WMB being an improper seizure, WMB needed to become a true sale. WMI became a willing seller. The Final Price needed to be determined."

Are you serious??? LOLOLOL. WMB is gone and never coming back...the end. Willing seller???LOLOLOL. The bank was seized, WMI didn't have a choice in the matter LOLOL. Good grief.

I won't even bother with the rest of your post, you are literally making cr@p up as you go along. It's hilarious.

[jerrylev]

The FDIC seized WMB and sold to JPM, despite it to be a solvent bank, blah blah blah we all know about it. JPM bought WMB for 1.9B plus some unknown amount. The "final price" was already determined and known since 2008.

WMI was forced to go bankrupted and liquidated. This is the only part that we don't know yet how much the trust can sell it for. It's likely to be closer to 10B than to 299B.