Mr Cooper Group Inc (COOP)

[SamuraiProgrammer]

Gee, I thought my posts were advocating patience...

On the surface, I can agree with you. However, I have been watching as this unfolded. There were several times where, if I recall correctly, months (even over a year) would go by with no movement at all. It seemed over and over again that the BK was artificially being held up by some other timetable.

When it looked like that, I rejoiced because I had come to believe (and still do to some respect) that the next step in the BK would trigger a series of events that would culminate in payment to escrows.

I still believe that, one day, some event will occur that will start knocking down the dominoes and, lo and behold, escrows will be paid.

I don't know if the BK really has anything to do with the delay. I suspect it does, but I truly don't know. It would seem that the closure of the BK would be enough. But again, the judge made it clear that it could still be reopened.

And just for the record.... I am not nearly as concerned with the BK stringing out so long as I am that the FDIC sold the bank within such a short period of time. That act reeks of prearranged collusion. It is not humanly possible to accomplish due diligence in that short period of time. (I have been through due diligence in a corporate buyout.
It is physically impossible to do it that quick.) Considering it was the largest bank foreclosure in history, I cannot imagine that such a short time between seizure and auction was fair and equitable for the shareholders.

I'm not accusing anyone of collusion. I am just pointing out how it looks. I dare anyone to refute that it looks that way.