Mr Cooper Group Inc (COOP)

[swooop]

The person selling a house does not tell the world the house is in default or almost in default and the fdic should not either.Your right why would any one pay full price for a ropo, but the banks wait until borrower fails. The fdic shoped wm before it failed. The real question to ask is if wm was in so bad of shape why did jpig want them so bad. To answer your question about buying a repo house from a bank you have to wait till it hits the market through a Realtor you dont go to a bank and say show me the houses your getting ready to foreclose on. Not all houses that get repo`d are good deal`s so thay stay on the market and the price comes down till they sell but the bank tries to maximize the price. The FDIC did`nt try to get top dollar. If you show link`s how bad WM was you should show the same links for all the bank`s mainly the TARP banks then the no short list banks compared to banks that got shorted.