Replies to post #183241 on Mr Cooper Group Inc fka COOP

[maekuz]

He was acting on behalf of the creditors:

Cross, who represented a group of special servicers tasked with determining which creditors are due what took the lead in coordinating the efforts of an ad hoc group of secured creditors that were owed more than $12 billion.

But i like this part.

Cross’ novel strategy pushed back the maturity date of GGP's loans in exchange for a debt structure that increased amortization payments and gave lenders significant protection. In December, US bankruptcy court judge Allan Gropper approved the deal in December.

Thats what they should do here. Restructuring the debt and pushing back maturity dates. That would be a second life of WaMu without leaving the equity out.