Mr Cooper Group Inc (COOP)

[Boris the Spider]

Bop talked about receiving credit offers in advance of disbursements to escrow holders several months ago. I didnt think about it at the time. But now her prediction may be making some sense.
She said credit offers and loans would be how brokers and banks would make money from this.
So for instance, they do all they can to get our business now. Say, Capital One offers you a zero percent card and you take them up on it. Then in 4 months there is a Libor settlement and you get a windfall. You may say, they were good to me back before I had this money, so now Im going to deposit 250k in their bank because I like the way they do business. Good will.
Plus, if you take out loans against the funds in your account, you avoid taxes you wouldve incurred had you withdrawn the funds from your escrows IRA.
So many ways to look at this.
Lets see if escrowers start to get more offers. Of course many dont like to talk about their private finances online, and thats understandable in these days of rampant hacking.
Be Very careful. IF money comes keep it private. 250k per account is max for FDIC insurance, so a sweep account may be wise to spread out your funds among several banks. Get a financial planner and the best tax person you can find.