Mr Cooper Group Inc (COOP)

[rramirez82]

The FDIC is going to be responsible for the lion's share of the settlement - and JPM knows this. If summary judgment is decided, it is going to create a presumption that the FDIC wrongfully conveyed other WMI assets to JPM in its seizure and conveyance of WMB. This is a major point that will subject the FDIC to major liability. Its only natural for the FDIC to try and buy some more time while it figures out a way to minimize its exposure to the whole ordeal. The fact is, however, that the parties have already exhausted every tactic under the sun - both frivolous and legitimate - in pushing it out this far. JPM's stance in the last hearing clearly indicates that the parties are ready to deal. Moreover, the billing records and documents supporting/opposing the formation of the equity committee revealed that the parties were extremely close to reaching a settlement in December - however, the plans were foiled (to our benefit) with the formation of the equity committee and Judge Walrath's recent decision denying WMI's motion to dissolve it.