Replies to post #536320 on Mr Cooper Group Inc (COOP)

[LuckyPanda]

FDIC-R stated after the DB settlement, they relesed all funds in the receivership (2.7B) minus $100 mil in change to continue receivership until Libor suit is settled. If you google it, I'm sure you can dig up the press release somewhere.

[JusticeWillWin]

Absolutely! If the FDIC really retained assets (as part of the $40.2B asset related equity adjustments on the FDIC inception balance sheet) in which the WMI estate has interests, but on the other hand the FDIC-R has to satisfy WMB Senior and Junior Bonds, but doesn't know (yet) how much money the LIBOR suit "...on behalf of the failed banks which includes Washington Mutual..." will return, they can neither pay the bondholders nor pay the former WMI estate IMO. That's why the delay IMO...

Justice, do you think that this LIBOR lawsuit or interest rate fixing lawsuit is related to our payment delay? How can it be?

Sure it is a lawsuit on behalf of the failed banks but it is more of a punitive penalty from the government. The Treasury dept will pocket all punitive damages.