Replies to post #179052 on Mr Cooper Group Inc (COOP)

[umaw]

Why is this "great news"

We have already known this for months! Nothing new here folks!

[shiftaz]

WaMu agreed to receive $900 million of a $2.6 billion expected return, with the rest going to JPMorgan. A second $2.6 billion return will be bring in $1.04 billion for Washington Mutual with the rest going to the FDIC.

error there. should be 3 billion.

[maekuz]

It's not great and it's not new. eom

[ptolomeo]

maybe it's a good new in Bangalore...

but not in the rest of the world. At least not for us.

Greets

[redskinpride]

Why do you believe this is great news?

[CIGGYGAG]

from seeking alpha.........

JPMorgan may get $1.4B tax windfall. JPMorgan (JPM) is close to a deal with the FDIC that would allow the bank to receive as much as $1.4B in tax refunds, thanks to a little-known provision in the economic stimulus bill. JPMorgan, which took over Washington Mutual's banking operations in 2008, reportedly plans to claim more than half of the $2.6B in tax refunds that WaMu is eligible for because of its heavy losses. The money would be held in an FDIC receivership which JPMorgan could tap to satisfy certain claims related to WaMu's collapse. Hundreds of other companies have used similar measures to secure around $12B in federal tax refunds.