Mr Cooper Group Inc (COOP)

[writonwater]

BK, I find your reasoning to be clean and your references consistently sound. I agree that we have a potentially profitable future in wmih, given kkr's track record.

Regarding escrows, I have one point to make. Judge Walrath gave us a terrific precedent by agreeing, far outside the norms of bankruptcy waterfall, to allow equity a recovery prior to total recovery of creditors.

This is tantamount to an admission of wrongdoing by the fdic and jpm in the taking of wamu.

There is no other viable explanation for a bankruptcy judge to award equity a recovery out of order.

To me, that award provides precedent for further action against jpm and the fdic in a court of law based on fraudulent taking.

Whether this is to come will depend upon the returns coming to escrow holders (or not) when this is closed out, and secondly, dependent upon the spine of the escrow holders collectively: If we are to succeed in pursuit of recovery it will be costly and it will take a long battle.

Just my perspective on things...Sam