Replies to post #716334 on Mr Cooper Group Inc (COOP)

[LuckyPanda]

Boris, do you have a link to the amount that FDIC is suing for? TIA

[LuckyPanda]

Here's a link to FDIC Libor liability recovery report for 2022.

https://www.fdic.gov/resources/resolutions/professional-liability/annual-reports/pl-2022-annual-report.pdf

As of March 2023, they have recovered a total of about $8B after expenses. See the table on the page before last page. Unless there remains a large claim to be resolved this year, which I havent seen, I think this is the main source of our recovery.

I still believe our main source of recovery lies in the residuals from the loan portfolio sitting isolated in remote bk. Wamu loan portfolio generated close to $9B in profit a year at the time of bk....I'm guessing if our interest in that portfolio somehow was shielded in remote bk, we might be looking at at least $30B to $80B in recovery.

I just dont know if we have been robbed of those retained interest. Hoping the 15th year statute of limitations runs out on Monday and we will hear something by end of the year.