Replies to post #686127 on Mr Cooper Group Inc (COOP)

[UpTickMeA$AP]

I have a link, directly from the authority at the FDIC that sees directly over the wamu debacle.

Here:

https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/wamu-settlement.html

Potential for Distributions to Subordinate Note and Equity Holders
On the day after WAMU failed, its holding company, Washington Mutual, Inc. ("WMI"), filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Case”). WMI owned all WAMU shares of stock and was the sole equity holder of WAMU. The Receiver does not currently have and does not anticipate accumulating sufficient assets to pay in full all of the allowed claims of the general unsecured creditors of WAMU. As a result, the Receiver does not project having sufficient assets to make any distributions to WAMU subordinate note holders or equity holders. Therefore, it is unlikely that any distributions will be made to WMI or its successor on its claim as sole equity holder of the failed bank

.

The trust also confirmed by ordering escrow deleted, deemed worthless, with no further distribution.

All levels of authority state the same, nothing else is coming back.