Mr Cooper Group Inc fka COOP

[kelseyf]

My correction but another simple method to possibly look at this new development of this tax law change from Nov 2009 allowing 5 years of prior losses and a basis of valuation for the common:

http://www.thestreet.com/_yahoo/story/10654616/1/wamu-may-get-26b-tax-boost.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

http://finance.yahoo.com/news/WaMu-says-tax-refund-may-rb-2711413788.html?x=0&.v=1

WAMU tax refund potential = ~$5.2B (double from $2.6B refund based on Nov change)
WAMU deposits = ~ $4.0B
WAMU possible settlement = ??

WAMU Projected Assets on just deposit & tax refunds before any possible settlement = ~$9.2B

WAMU liabilities according to the Novemeber MOR = ~$8.3B

Assets > Liabilities

O/S = 1.7B shares

A possible way to develop a current valuation of WAMUQ based on this development before any settlement.

$9.2B - $8.3B/ 1.7B shares = .529 per WAMUQ share.

It's a rough determination but the arguement and case continues to build that the current WAMU common is currently way undervalued is much strong now and supports that Sept 2009 WAMUQ run to .44 now that 2010 has arrived.

Kels