Replies to post #38877 on Mr Cooper Group Inc (COOP)

[DigitalTradz]

That means that WMI can re-open banks in the same area as they had them before without restrictions.

Basically a non-compete agreement means that you will not run a business(compete) within a certain geopraphical area for XX number of months after you have sold, disposed of, been fired from, quit a company. In this case, JPM grabbed the banks and in their haste to do so, they never had this provision enacted. Now whether they couldn't because they thought that they would drive WMI into the ground, or more likely that having the FDIC and OTS involved they couldn't, it is still not there.

WMI can emerge from Chapter 11 and immediately start thie banking business back up if they so choose.