Mr Cooper Group Inc (COOP)

[aladin61]

From jberg:
"so the 4 bill is then part of the current 7.2 billion being used to pay off SNH's ? "

Yes. JPM is to return it as part of their consideration for the GSA.

The reason why we care about the $4B, aside from the fact that it is a huge amount of money which makes the creditors nearly whole, is the fact that in settlement negotiations JPM immediately agreed to give up any claim to those funds.

That information was known by the Settlement Noteholders and would no doubt have provided them with the knowledge that WMI bonds would likely be paid at or near face value at least.

The SN's would like to pretend that this was not material information once their agreements expired, but it clearly was not known to the rest of the market. They then appear to have used that information to significantly increase their position in WMI bonds as well as the PIERS.
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_W/threadview?bn=86316&tid=784206&mid=784369