Mr Cooper Group Inc (COOP)

[SamuraiProgrammer]

In all reality, I think that the Examiner is a mileston, and while it is true that it may speed up the process, I believe we are still a looong way from the finish line.

I also believe that this will be settled in at least 2 if not 3 steps.

1) Bankruptcy reevaluation of P&A agreement

2) Judgements awarded by courts from JPM

3) Judgements awarde by courts from FDIC

Step 1 will happen first. Steps 2 & 3 may happen in either order.

The real catch will be (IMO) that after step 1, there will be a huge delay in settling steps 2 & 3. This delay will be long enough to make it an interesting decision on whether to hang around for it or not. This decision will be based on 'how much can this wealth make for me if I put it to work somewhere else instead of leaving it in WAMU and wait for the court decisions.'

The converse will be true (at least for JPM). The delay will be long enough that they won't care that they lose... They will have made enough more money by not paying immediately to cover it.