Replies to post #601328 on Mr Cooper Group Inc fka COOP

[hotmeat]

All of your arguments are based on nothing but "what if's", MB rumors and being uninformed.

A+M was being paid for doing all the accounting work for the LT, and also fully staffing WMIH until the merger with NSM was finalized and the transition complete.

Those duties were why they were being paid $500K/qtr, not some baseless MB fantasy about "managing assets".


BTW, I can't believe you even have to ask why there was so much billing for seemingly so little work...they were "milking" the estate, as has been done in virtually every bankruptcy...EVER!

[PickStocks]

Yes that is basically what it was A&M was given free money from the LTI agreed by hosen. They were not managing funds as everyone thinks if you look close at the break down with the number of employees it matches the amount billed. Basically by hosen milking the company he was to manage. This is why hosen cried at end of settlement begging that he stayed on and not be replaced by another firm.