Mr Cooper Group Inc fka COOP

[JimsZ]

Ok, I read your previous post and have this to say...

THE OTS stated that Wamu was solvent at time of siezure so that should remove ANY question of mark to market valuations, etc! I also believe that only 7% of Wamu's loans were subprime. And another item is the fact they had an 8% tier 1 ratio (better than many of the other banks out there at the time)



Let's go with my scenario now.

For instance you have a job paying $250k/yr and bought a $1 mil house making payments each month and your current balance is only $200k. Now lets take into consideration you just lost your job. The bank itself is out telling everyone else how horrible you are so no one is employing you (JPM to ratings agencies?). So now, even though you have enough in savings to make your payments for the next 8-10 months and could come up with additional money by borrowing from family/friends, you're deemed too much a risk to not pay so the bank forecloses on your house along with your vehicles in the garage and savings accounts because your house needed some pool repairs... Is this fair?

You hadn't missed payments, had money to make payments, yet were considered a "risk" so it was ok for them to take your house and your car, your money, you come home one day and the locks are changed and your possessions are on the front lawn.. Is this fair?

If you want to look at it that way, EVERY person out there is at the risk of possibly not being able to pay for any loan.