Mr Cooper Group Inc fka COOP

[hotmeat]

IMO it was a combination of factors...from the failing mortgage market which resulted in mounting losses for WAMU to underhanded moves by JPM, GS and others that compounded the problems.

Seems WAMU's best assets were held under WMBfsb which had in excess of $30B in equity and the intention was to upstream some of this cash to WMB in an effort to stabilize it.

Unfortunately for us WMBfsb was a direct sub of WMB, NOT WMI, hence it was likely acquired by JPM along with it's billions in assets.

As I've said before, lets hope WMI has secured interests in assets that have been placed "on hold" due to the bankruptcy, which will be released once the cases are closed.