Mr Cooper Group Inc (COOP)

[clawmann]

If the seizure was illegal, why didn't WMI immediately file a challenge to the seizure in court? They didn't. You would think that WMI would have done that if they had believed they had a reasonable shot at selling that argument to a judge. But they did not challenge the seizure. And the statute of limitations on that potential action has long since run out.

Besides, did you know that an institution does not have to be technically insolvent to be seized?

So even if we assume for the sake of argument that you are somehow correct in asserting that the seizure was illegal, as of today that has no bearing whatsoever on any recovery the LT might receive. None.

BTW, yes I believe that Sheila and Jamie orchestrated the seizure so as to get it done before TARP became available. I also believe that WMI was not put on the "no-short" list for the same reason. But it's all water under the bridge now. It is simply too late to lodge any sort of legal attack on what happened 6.5 years ago.