Replies to post #365207 on Mr Cooper Group Inc fka COOP

[WithCatz]

IDK -- you've been on iHub for quite awhile, and you say you "used" to own shares. If there was significant interest, I'd have thought you'd have checked in more frequently.

Given that, it's really just too much to explain right now.

If you don't own shares "today", then it's pretty much a moot point.

But, for a generalized background, read the Q&A in the stickies.

...Catz

[clawmann]

Quick very general comment. The bank was taken over by JPM (with a little help from the FDIC). The bank was actually owned by another company called WMI. When you bought your shares you actually bought shares in WMI, not in the bank directly.

When WMI lost the bank, it still had some other assets and a substantial amount of debt. WMI went into a chapter 11 bankruptcy reorganization and it will soon emerge under a new name (but it will still be bank-less). Virtually all of its remaining assets have been used to pay off creditors. But it has some assets remaining (the result of some creditors having to take a haircut to avoid being pursued for insider trading). All prior WMI equity shares will be cancelled and the holders will receive new shares but only if they have already filed certain paperwork.

This is just to provide you with some basic conceptual framework that you apparently were missing. I don't know why you would want to know more as it would make no sense to buy shares at this point in time (too late to get the paperwork in).