Mr Cooper Group Inc (COOP)

[remmy]

WC, even tho both are in the same class, the pref's are supposed to be paid in full before commons get any $. While the prefs can voluntarily agree to take less than 100% and give the commons some to move a settlement along, they don't have to.

Many think the prefs blew an opportunity to get this done faster, get more money in total from the hedges, and, yes, agree to share some with the commons. But they chose to fight sharing any. And so here we are with the EC moving forward with the depos.

I think it's possible the hedges are negotiating with the prefs directly as we speak to get them on board with a new settlement in which they get more $. But that's mere speculation on my part. Clearly, the hedges have something to hide or they would not have made the settlement offer in the first place.

Is this how you see where we're at, more or less, or am I off base here?