Replies to post #238350 on Mr Cooper Group Inc (COOP)

[WithCatz]

I stand by my thoughts that there is no logical reason that the FDIC would NOT extend this date over and over and over. {Read that as the FDIC will extend this... sorry for the double negatives}

This changing of the price and other administrative items {again, the P&A is a firm contract, though}, is an item of the highest leverage that the FDIC has over JPM.

For them, the FDIC, to give that up, until all of this is put to bed, is unfathomable.

JPM agreed to this unilateral extension. Just like you do for your credit card -- the contract is firm and solid, the credit card company - because you agreed to it -- can change your rates, unilaterally. Same here, the P&A is solid and bi-directionally enforceable, but JPM signed that they were OK with certain specific and unilateral changes to the price, etc.

Until the dust settles, and the P&A needs to have a full closure, the FDIC will extend this. It costs them NOTHING to extend it, and everything if they don't.

...Catz