Replies to post #520948 on Mr Cooper Group Inc (COOP)

[jerrylev]

Actually it is the opposite. If 100% of WMB assets were in SH or securitized then there would be nothing to seize.

The FDIC and JPM discovered to their surprise after they seized and sold WAMU that a lot of assets were in SH or securitized and cannot be seized, and that's why they have to change the rules one year later.

Initially they took everything including WMI but upon closer inspection of the books, they had to return a bunch of assets or simply managed on our behalf.