Replies to post #238101 on Mr Cooper Group Inc (COOP)

[Kristallweizen]

Then what happens to all the billions of dollars that JPM made with WaMu?

[mehedi]

makes sense. when we were trying to wonder why the purchase of wamu is still incomplete makes sense now. It is not up to FDIC to complete the sale but rather it is up to JPM, pending law suits and all. But FDIC can simply deny the sale of wamu all together(if JPM wants too much money) if other buyers are interested. I mean its crazy not to have other banks be interested! IMO

[SlyOne]

Nope, FDIC can re-price the deal, it will have more than $6 billion. FDIC receiver still has upperhand over JPIG. Because, it the most laiblity $23 billion. The $23 billion is a guess, and would need to be paid by someone--- JPig --- or the assets will revertg back to FDic and into a trust which will then be liquidated (again)......

Consider what happens to uninsured depositor in an FDIC insured bank upon takeover, exactly the same....Bye Bye JPIG....