Mr Cooper Group Inc (COOP)

[ilenes]

A quick recap for you...not sure where you stopped following, so here is the very abbreviated version...

POR denied in January, but Rosen came back with some modifications and announced to the court his intention to move it quickly through a second confirmation hearing.

The Judge seized on the testimony presented at the December confirmation hearing (Nate Thoma) regarding possible insider trading by the hedgies and ordered them to comply with discovery by the EC.

All four of the hedgies brought in special counsel. Does not look like they are complying with the document requests by the EC. They had only two weeks to produce everything. Should insider trading be found, there is speculation that the waterfall will reach commons. Two attorneys at the last hearing said that it looked as though preferreds were in the money.

Wednesday's hearing may touch on the discovery and the apparent lack of cooperation. Speculation that some of the players are turning against one another and we will soon see a settlement.

Hope this helps as a broad brush stroke!

Ilene