Mr Cooper Group Inc (COOP)

[PutYourWatchOn]

Here is the response to my email from yesterday that I sent to Jamie Dimon. Of course it was intercepted by a secretary.





Mr. W,



Given that there is pending litigation, let us answer your questions broadly.



The FDIC made the decision to put Washington Mutual’s banking operations into receivership. When the FDIC sought bids, JPMorgan Chase submitted a bid of $1.888 billion and agreed to take on all the loans (which were written down by more than $30 billion). The FDIC accepted the bid. The FDIC’s insurance fund did not incur any costs.



Under Freedom of Information Act filings, we learned that there were no other bids.



It is not appropriate for us to offer opinions on the actions of the SEC or the FDIC.



Sincerely,



Patty Baker



Patricia O. Baker

JPMorgan Chase Executive Office - SVP

10 S. Dearborn Street, Chicago, IL 60303

Office 312-732-6116 | Cell 708-204-8992 | Fax [phone] |

Email: [e-mail]