Mr Cooper Group Inc (COOP)

[Chiron]

Uzual didn't say anything about the effect of an agreement announcement on the stock price. He just said even if there was an agreement announced on 11/7, we still would not exit until 2012.

Now, what effect on the pps that would have depends on the details. We had a leak of settlement back in May, and it ran commons from .04 to .23. However, this time people will want details.

If they just announce a settlement has been reached with no details, I don't expect much for commons. Preferreds will rise because they are certain to get something, but I doubt they will rise that much.

Traders/investors are very wary about Wamu at this point. They've seen a hostile debtor try time and time again to wipe out equity, as well as JPM/FDIC throwing their weight around to kill us off as well.

For the pps to see a significant rise, meaning more than .25 and over $100 on P's, we'll need substantive details.

I also think on the flipside if there is no settlement, it will benefit Preferreds because we know Walrath will force disgorgement of the SNH's leading to a recovery waterfall. God knows what else a trial will produce on all adversarial parties.

'No settlement' possible is not a bad outcome.