Replies to post #650593 on Mr Cooper Group Inc (COOP)

[traderpaul]

ok, I don't live on this board so just checking there's better opps elsewhere.

[Planet Paprika]

they are all hiding.....,YET....... all,......especially the FDIC:

yeah, JB, that`s right, no 100% safety, YET.....


"it is unlikely that the Receiver will have funds to distribute to holders of receivership certificates issued to WAMU subordinate note holders or equity holders"

Last Updated: 10/23/2020......... [e-mail]


I love -theoretically possible-
and "revised upward due to changed circumstances"....

Little billion dollar error by the FDIC. Can happen with a smaller bank chain,
that it was said that there were no residual values, even more so : no value for stakeholders.

"SUPPLEMENTARY INFORMATION: On April 15, 2013, the FDIC determined that the assets of Colonial Bank, Montgomery, Alabama, were insufficient to make any distribution on general unsecured claims, and that such claims therefore had no value.
....published in the Federal Register on April 19, 2013."

Ooopsss :

"The FDIC has now withdrawn its determination because the Receivership's theoretically possible recoveries have been revised upward as a result of changed circumstances and could possibly exceed the previously calculated $1.698 billion deficit, which in turn could possibly result in payment on non-deposit claims under the most favorable circumstances.

Dated: June 4, 2014.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary."


".....The FDIC has now withdrawn its decision because the
theoretically possible recoveries of the receivership

have been revised upward due to a change in circumstances

and could potentially exceed the previously calculated deficit of $1.698 billion
(positively) exceed it,
which in turn could potentially result in
payments on non-deposit claims under the most favorable circumstances."

www.federalregister.gov/articles/2014/06/...ncial-institution