Mr Cooper Group Inc (COOP)

[mordicai]

I just read the holding company's brief in support of their motion to dismiss JPM's counterclaims and am confident WMI will prevail on this motion. This was filed yesterday. It is interesting to note that within the brief, the holding company asks the court to hold a hearing on the summary judgment motion right after Ms. Logan's (sp?) deposition is taken. That says to me the holding company lawyers are very confident in her testimony and in their summary judgment motion.
With respect to the motion for leave to appeal, the bankruptcy judge was very confident in her decision yesterday denying jpm's motion to dismiss the holding company's claims against JPM stating there was no change in the facts or law and that her previously ruling was now the law of the case. She knows about the pending motion for leave to appeal...and if she was any bit concerned about the possibility of that motion being granted by the chief judge, she would have delayed making additional rulings until the chief judge ruled on the motion.
Now, ask yourselves can JPM really afford to let its counterclaims be dismissed before settlement is reached? Moreover, remember that the holding company's lawyers are asking that the district court action against the fdic (which jpm cannot become a party by law) be stayed until the pending bankruptcy adversary matters are resolved. Why? The claims are different so there is no reason to delay that litigation unless the fdic has indicated it will settle imho. So although I don't like to predict when settlement will occur, my thinking it has to be close at hand. Seems the denial of the motion for leave to appeal will be the straw that breaks JPM's back. JMHO.