Replies to post #315630 on Mr Cooper Group Inc (COOP)

[aladin61]

From jberg:
"so the 4 bill is then part of the current 7.2 billion being used to pay off SNH's ? "

Yes. JPM is to return it as part of their consideration for the GSA.

The reason why we care about the $4B, aside from the fact that it is a huge amount of money which makes the creditors nearly whole, is the fact that in settlement negotiations JPM immediately agreed to give up any claim to those funds.

That information was known by the Settlement Noteholders and would no doubt have provided them with the knowledge that WMI bonds would likely be paid at or near face value at least.

The SN's would like to pretend that this was not material information once their agreements expired, but it clearly was not known to the rest of the market. They then appear to have used that information to significantly increase their position in WMI bonds as well as the PIERS.
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_W/threadview?bn=86316&tid=784206&mid=784369

[never-again]

Remember when Cross from Venable said " this will be very difficult of they try to settle with equity's money" I think his words are ringing truer everyday since.

The whole thing thus far has been predicated on BS, GREED, & saving the insolvent JPM. All the while keeping it a secret and making the ugly truth seem more palatable. Somehow the perpetrators think feeding everyone BS but saying its ice cream will make it better.

Its WMIs money, always has been and everyone knows this.
We will get it back and that will happen without jpm calling it a contribution to the estate.