Mr Cooper Group Inc fka COOP

[fsshon]

Voodoo Good Post. TPS has the goods on JPM or vice versa, they will fight in another court if they need to. The USSC may have to eventually rule on whether a regulatory agency can wipe out a security that is tied to the highest rated collateral in seized entity without a moments notice to the receipients of the notes. TPS has a very good case for an appeal..

Walrath ruled there was an exchange event, but the timing of such does not support it. It was her way of continuing to support JPMC, not JPM. JPMC is benefiting from the collateral that TPS was tied to and if the exchange event did really occur, the hold co immediatley filed for BK protection and that included TPS.

Did the exchange event occur and if so who is responsible to the TPS creditors? If the Estate is responsible to the TPS creditors are they considered unsecured equity preferreds? Who is entitled to the collateral of the TPS if the estate has to be subject to taking on more debt because of them? Why should the shareholders of the WMI estate have to incur more debt because of the exchange event? Should JPM not be responsible for satisfying the TPS securities because they hold the collateral that was a part of WMB and should have been setoff by the FDIC-R. Should JPMC have to turn over the collateral that make up the TPS to WMI Estate or TPS holders?

Example.. I come to my friend Voodoo and say hey Voodoo loan me $25,000 and I will give you a lien on my car. You say Okay fish here is the money, sign right here. I pay you an interest rate and can pay off the lien in time. We sign the deal.. You now get my 2011 Convertible Camaro if I default on the loan.. However, the government decides It has a better use as a taxi for the local taxi company because the city buses were destroyed in a massive fire and the need was there so they just come and take it and gives it to the taxi company. I tell you "they say" an exchange event occured and now you have to talk to government about getting your money back. You say no way Don, I made the loan to you, you have a clear title, no liens, so I own the car. I tell you they took it and gave me a phone number to have you call if you have any questions. You call the government and they say call the Taxi company because they have it now. You call the taxi company and they "no way jose the gov gave it to us as part of a large transaction for hundreds of vehicles, how can we just single out one car?

It's called the run around and eventually my case would also be in front of a Judge. In the meantime how does this help you Voodoo? Do you ever get paid back the 25K or at least get a Federal Judge to give you the car? hopefully in one piece by the time you get the car, will the value have decreased drastically? Will it have 100k miles on it by then and is the value the same as when the gov took it? how is this made up to you? Will the taxi company have to reimburse you for the use of the vehicle, I know I own the title, but the gov decided the taxi company could use it more than I and gave it to them. You decide, no Don, I loaned you the money, you owe me, so I am going to sue you. I say you leave me no choice so I file for Chap 13 personal BK, you now will be a creditor who may or may not get the car.. RUN-AROUND in one big circle. I am sure this is how the TPS holders feel right now!

Walrath ruled the exchange event did occur and now WMI estate is responsible, but the collateral is with JPMC. Oh DAMN this one is so corrupt I can't even make an example the right way..


These questions and more coming to a courtroom near you. I know one thing TPS is not going to sit idlely by and let JPM rape them of their securities value. No and they have a very good firm in Brown Rudnick representing them. DOes JPM want to take a chance on an appealate ruling that will overturn the Walrath court? Would you? I know Dimon is arrogant, but his counsel should be giving him the low down on what a loss in the appealate court and what surrendering the collateral would mean..JPMC needs to settle with TPS ASAP.

I think I am reading this right.. Mordicai, Reptile etc correct me on the fine points please? Help me I can't figure out how any judge would side with the OTS and FDIC-R on this one..

Thank You

~Don~