Mr Cooper Group Inc (COOP)

[justnormal]

Some more info from the doc

http://blogs.reuters.com/alison-frankel/files/2014/10/jpmorganMBStrustee-fdicSJmotion.pdf

Chase Unsuccessfully Tried To Change The P&A Agreement To Exclude

The Mortgage Securitization Liabilities.

Within hours of Chase receiving the Q&As, Chase’s outside counsel, Mitch Eitel of

Sullivan & Cromwell LLP, sent an email to David Gearin in which Chase proposed to change

Section 2.5 of the P&A Agreement to omit WaMu’s repurchase liabilities from those transferring

to Chase. Dep. Ex. 78. Chase’s draft language for Section 2.5 would have expanded the scope

of the section to preclude Chase’s assumption of liabilities for any claims arising from WaMu’s


Since at least the spring of 2007, Chase had shown a strong desire to acquire WaMu’s

business. An internal Chase case study on WaMu indicated that “n March 2007, the [Chase]

Operating Committee conducted a broad review of potential acquisition targets, including large

domestic banks. . . . From a strategic standpoint, Washington Mutual (WaMu) was clearly a

preferred target.”



Zitat:
41. Chase was modeling a potential acquisition of WaMu from an FDIC receivership as early as July 2008, even though the FDIC did not approach Chase about such a transaction until
mid-September. Durdan Dep. 103:14-104:14;