Mr Cooper Group Inc (COOP)

[Bizreader]

http://www.kccllc.net/documents/0812229/0812229090330000000000263.pdf

This is a proof of claim from JPM filed 3/30 in which their lawyer says they want what is coming to them.

My take is that Sheila is going to have to fix this since the FDIC was the agent of sale and as such must have some responsibility in deciding what was sold.

Basic contract law principles apply, I think. The exact terms of what the FDIC is responsible for is something I covered last week in a post here. The issue is, imho, that the FDIC didn't do their job; it was hasty and obviously not executed in the least expensive manner protecting the insurance fund for which it is paid to use and protect. The FDIC is now in legal trouble, and JPM basically insists as much, as does WMI.