Mr Cooper Group Inc (COOP)

[warcton]

I probably wouldn't go as far as say there are "so many absolutely-detached-from-reality posts here", but I do agree with your conclusions.

Many, if not most, of the posters here have little experience with the US Court system and more specifically the US Bankruptcy Court system. Most Americans believe the US Court system is about justice, fair and "the best system in the world".

While many US Courts(not including Municipal) are about "justice", the US Bankruptcy Courts certainly are not.

There is justifiable frustration in that we can see what is going on in this case and we think JMW should also. Maybe she does, but she has strict rules she must follow. The "Debtors" brought the BK "case" and she is basically here to support them and bring this case to a close.

The Debtors have a GSA which is fair and reasonable(to the Court) primarily because of the $54bil in claims from JPM/FDIC. While we know those claims are frivolous and without merit, the Debtors have not contested them and Judge can't contest the claims for them.

The good thing for us(equity) is that the Debtors and SNH's "plan" cut the case really close in the waterfall so that they could "steal" WMMRC(the reorganized company) which has A LOT of value.

We now have a chance to gain full or near full control of WMMRC and take advantage of $17bil in NOLs and pursue claims against 3rd parties amongst other claims and assets.

We know WMMRC has been GREATLY undervalued by the Debtors and I think that the EC has also great undervalued WMMRC for other reasons.

Barring some great legal miracle from the EC, we won't be getting much from JPM/FDIC to settle. I think we may be able to keep more(maybe all) of the tax refunds but we won't be pursuing JPM/FDIC for the monster claims because those are being settled in the GSA. TPS is still a wildcard, so it is still uncertain if they will be considered equity or paid off.

However, equity is now in a great position. The FJR ruling will allow more money to flow down the waterfall to us.

Equity getting WMMRC would be huge. The judge's ruling about control of the Litigation Trust was also huge. When any class above equity is paid in full, they are pushed out of the Litigation Trust.

I think there is enough value in WMMRC for preferred and commons to see significant value.