Mr Cooper Group Inc (COOP)

[jerrylev]

You are comparing apple and lemon.

On one hand, you have 2 willing parties, the bank and you, entering a contractual agreement (loan) and if you default then the bank can go after you to get the money back (law).

On the other hand, you have two unwilling parties, WAMU and the FDIC, entering a forceful act by law (seizure) which then sold to a willing party (JPM) at a fraction of what WAMU used to be valued at.

Whether it is fair or not fair, this is all allowed by the law.

Similarly if you don't pay your mortgage, the bank will repossess your house and then sell at a fraction of its value, just enough to cover the amount of money that you owed.