Mr Cooper Group Inc (COOP)

[Boris the Spider]

The BS legal action is over. But...

My perspective:

Most of us knew this suit was baseless, without merit, and would go nowhere. So why did it delay this saga for so many many months?
Because it was all by design. I will not go into those details here....I shouldn't have to explain it to you.

I will however say that it is curious that someone worked for JPM as posted on their online resume, and then suddenly and deliberately that work affiliation was deleted from said resume. Why? You be the judge.

Our country now is nothing more than a large banana republic. Law and order are out the window.
WAMU was obviously unjustly seized and it appears this could be swept under the rug for eternity. The shareholders and employees got screwed in an unfair 5th amendment taking in the middle of a sad and dark Thursday night.

But, while I have serious doubts escrows will ever see a dime, I still see possible light.

Now that the case is closed, the litigant stated:

"Sorry folks. I'm disappointed but that's all.
FYI, I've been hearing from back channels that something may happen on the recovery front in the next month or two. If so, there's euphoria on the Underwriters' side as I think people here will be shocked by the amount of money they eventually recover."

Excuse me? I'M DISAPPOINTED BUT THAT'S ALL?

After two years of nonstop legal actions this statement is astounding to me. No remorse for delaying this outcome for 9000 shareholders? Talk about self serving. Wonder what was really involved. And who funded this case...

Now, let us give the litigant the benefit of the doubt. Maybe her motives were honest. Maybe she did hear a whisper in the corridors of the courthouse. If so, then there may be cause for some optimism. My gut says we may get some restitution afterall. Possibly 10-20B. Certainly not hundreds of Bs. Never happen. But something could still come to escrows IMO.

If not, I expect severe and profound legal action coming in the next few months by the UWs, hedge funds, and even a few rich retailers.

There's money there and they know it. Now they can proceed.

It behooves the FDIC and JPM to take some quick decisive action on a settlement or all hell is about to break loose.

Good luck escrowers. You have all been through hell and back. I wish you the best.