Replies to post #193886 on Mr Cooper Group Inc fka COOP

[SlyOne]

think of it like when someone buys a bunch of 'bad credit card debt' that the banks or credit card companies can't collect. they sell it to someone for pennies on the dollar. Then the person that buys it can potentially make a fortune, or lose everything. But the bank or credit card company can never come back and claim it, they sold all their rights to it. Cause someone else bought and took on the risk.

lets say the return bad credits is 50%.
lets say the paper is worth $20 with recovery
both parties know this.

the buyer should pay $10

but, a corrupt employee of the seller sells it for $2.
buyer return is still expected to be $20. but, the buyer pays the corrupt employee $1. Now, this is fraud.

Can the seller try to recover its loses from it corrupt employee and get back the $8 it is owed? YES from a judge. if not from the buyer.