Mr Cooper Group Inc (COOP)

[bkshadow]

AZ, not really disagreeing...

...but a couple of notes just for thought (in blue).

... Correct' ~ Nothing Has Changed ...

... The difference is the literal terminology utilized and referenced, ... The seizure of a solvent bank is illegal as everyone knows ... and WMB was at the time, Sept 2008' .. solvent' ..

I agree that WMB was solvent when seized. I believe the press releases and the interviews at the time stated as such. I believe the regulators and deep NY pockets collaborated in turning the "solvency" criteria into second position behind "liquidity" and they focused on the $16.7B "9-day run on the bank by depositors (9% of WMB's deposits). I could also believe that such a run was not all individuals, organizations and businesses "as usual;" I could believe that the "run" was "pushed." Whether one considers this legal or not, or constitutional or not (taking of property), the fact of the matter is that there is no reason to believe that anyone (or group) can take such matter up (initiate litigation, have standing, etc.), and even if so, have a "chance in Hell" of being successful (because that is the jurisdiction that the perpetrators reign in control without a conscientious objector in the lot).

However' ~ there is more to consider'

IF' one wants to dig very very deep into the documents, this "so called seizure" .. was what is referenced legally as a ... "Taking ~ for the betterment of the country" ... (judging the right or wrong of this is not my place, however "a taking" in extreme times of distress within the country, this is allowed)

They have made that argument and, to date, have won with no challenge in sight.

... Let me just get back to the basics ... JPMorgan only received the servicing rights to WMI's Loan File ...

I simply find this factually inaccurate. Below is an image of what was disclosed in the JPM Notes to the Audited Financial Statements also in SEC 10K. For any reasonably prudent person to look at the Assets and Liabilities purchased for $1.9B, and then take out the $206B of Loans disclosed, would mean that JPM would have recorded a net loss on the purchase of (not negative goodwill income of $10B, but $196B loss on the acquisition. I am sorry, I don't know how any reasonably prudent person can give that theory even a grain of salt.

The 1934 Act will mandate that the FDIC-R will finalize in proper fashion with the estate' ...

As the PA&A agreement terminates, as I have just posted the link to the signed document ... I believe things begin to happen beyond the sixth anniversary coming up here in a few days on the 25th.

AZ

Again, no real disagreement on what you and I believe was wrong and illegal; but those who are responsible for justice are complicit with the actions. It is what it is.

Again, look at the Assets and Liabilities of the net assets acquired. It is irrefutable that they bought $206.456B of WMB loans (and they also bought 'servicing rights ~ identified as "Mortgage servicing rights for $5.874B").