Mr Cooper Group Inc (COOP)

[tcr7309]

fred, you are killing me, the more a look into this the more you guys are being led to slaughter.

You do realize that the lists you gave me are all abs, ie, asset backed securities, and are not worth 20% of what is listed. These are not mbs's but abs's secured by credit card loans, second mortgages, high interest commercial loans, etc..

Yes there is value there but watch what you ask for, this is junk assets, especially from the years of everyone gets credit and second mortgages. wow, this is what you are banking on.

On paper, it may look like 20 billion especially since wamu holding probably threw the kitchen sink at the asset list but in no way is the value worth anywhere near there.

I will state it again, it would not surprise me if jpm culled the good assets and leave the junk. Who is going to fight them.

all imo