Mr Cooper Group Inc fka COOP

[lodas]

@mwd44:.......... according to google, this is what a Purchase and Assumption Agreement is:
Purchase and assumption is a transaction in which a healthy bank or thrift purchases assets and assumes liabilities (including all insured deposits) from an unhealthy bank or thrift. It is the most common and preferred method used by the Federal Deposit Insurance Corporation (FDIC) to deal with failing banks.

this method is used by the FDIC to sell the whole bank, assets and all to a buyer so that they don't get involved in disposing assets, and paperwork..... accordingly, the documents say the FDIC Sold Wamu banks, and related assets , and liabilities to JPM for 1.89 billion dollars in total... no further payments will be made....JPM then disposed of the assets they did not want, and sold them down to below book value....JPM, then makes the claim that they "found 30 billion dollars in the rubble of Wamu's assets".... mostly from lucrative commercial real estate mortgages....my point?.... there will not be anymore payments to the FDIC by JPM......... Lodas