Mr Cooper Group Inc (COOP)

[dragon52]

Another Bopfan read... lol it gets better

Re: Bopfan makes sense - No real news or good if anything 23-Jan-09 08:04 pm


You said: "So all of this was great news if indeed the claim with the FDIC is a claim of FC --- Bop?"

"Absolutely. Read 12 USC 1821(d)(3) for yourself. It says that if you want to bring ANY claim against the FDIC on account of a receivership, you must file a claim with the FDIC first. (This is a very common prerequisite when suing government agencies.) This includes a fraudulent conveyance claim in bankruptcy court.

WMI has met this requirement and, according to Tal, is engaged in "reconciliation" with the FDIC. I believe "reconciliation" means heavy negotiations, as the FDIC knows it will be sued if it doesn't work out a settlement with WMI. Which I think can happen at any time.

As far as your observations about what Tal could say given the A/L 8-K filing, you're absolutely right."

http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_W/threadview?m=tm&bn=86316&tid=62216&mid=62283&tof=26&rt=2&frt=2&off=1