3...2..1...Ignition
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AZ,
How have you been ?
MW also got a boatload of free shares while being a director, close to 600,000 shares of WMIH when he resigned from the BOD. That is roughly 50,000 of today's COOP shares - it is all in the filings. The way I look at it he is up 3x times on his original investment plus of course cash compensation as described in the filings.
On a different note, COOP just refinanced 600M of debt which were coming due fast, now the pressure is off...and...and the new debt could be redeemed for by equity offerings up to 40%...that's is a good thing.
Cheers,
Uncle Bo
page 30
JWW, you think...
KKR shares don't trade and a lot of the institutions are accumulating that makes the pool of available shares very, very small - basically whatever they can shake out of retail which is perhaps <15% at this point.
Cheers,
Uncle Bo
This is the end...of the saga
http://www.wmitrust.com/wmitrust/document/8817600191101000000000001
Justice, thanks for the updates
When do you see a completion of the "cup pattern" into the 16-17 dollar range, where the PPS was at the RS. In what time frame - a month, two...?!
Cheers,
Uncle Bo
Thanks Xoom!!!
What the heck - who is...
Really, I still remember the infamous email from the bankruptcy case, something to the tune of ..."wait of them to fail and let the FDIC take the losses, we get the assets"
Anyone has this handy to post it ?!
https://www.foxbusiness.com/business-leaders/who-is-charlie-scharf-wells-fargo-ceo
GAP and GO....
Yepperini Indeedy, my friend ...
Discretionary cash flow for COOP:
Q1 51MM
Q2 93MM
Let them sell and move away...
US 30 YR bond below 2% lowest ever...
“This sunset exists. Tomorrow does not exist. There is only now. Please look. It is so beautiful and it will never happen ever again, never, not this sunset, never in all infinity.”
James Clavell, Shogun (Mariko San)
I beg to differ...
Pay down high yield debt - deleverage and increases cashflow as a double whammy, less interest and speedy use of the DTA. This is where COOP is going IMO and based on what they said in the transcript.
A dividend at some point would be very nice.
Cheers,
Uncle Bo
JWW, Thank you !
Justice,
What else do the technical charts say ?
It seems to me that on the intra-day COOP has begun consolidating for a run above 10 !!!
Cheers,
Uncle Bo
Thanks Mordicai, page 50 of the Q-1 filing for more detail...
Yes, Ron - Overruled! Hail Mary!
-The end-
"the Moms and Pops" are waiting.
Cheers,
Uncle Bo
A&M weren't they supposed to...
get a 10 day letter notification that their services are no longer needed when it's time ?!
Cheers,
Uncle Bo
The 50MM owed to creditors has been breached...
Therefore more representatives of equity must be appointed to the TAB
Anyone has an opinion on that ? Have you forgotten the trust agreement ?
Cheers,
Uncle Bo
"ginning people up emotionally" is what attorney's do'
Yup, where were we ?! with the plan's implementation...
AZC,
Now that is funny, I am also wondering ?! reading the latest QSR of the trust - what is it that the trust needs to say it is "aware" that the reorganized company changed its name to "Mr. Cooper Group"...
Uncle Bo
...the latest attempt to delay the inevitable, page 32 says it all
Thank AZ,
Uncle Bo
Thanks Ron,
Good stuff, I don't remember from the 66.5 million how much is owed to class 18, if I recall correctly something to the tune of 38 million...
Cheers and Happy New Year!
Uncle Bo
Thank you for the succinct summary and the filing!
Cheers,
Uncle Bo
Yup, one should have made their choice long time ago
GAP AND GO, we hope...!
mypenneys,
I don't see a market for options developing as of yet...but it might. Yes, the options are there, but no liquidity.
I think, COOP is slowly entering the "typical" earnings cycle - run up on expectations, perhaps gap and go or retreat back if it is nothing spectacular. Of course, excluding any surprise 8-Ks IF such would occur.
GLTA,
Uncle Bo
JWW,
I hear what you are saying, but for the time being the market does not seem to be buying what COOP BOD and executives are selling. Basically, with a market cap of about ~1.3 Billion, the markets seem to have "taken out" the incremental debt of 630 million from the previous equity valuation of NSM (roughly 1.9 Billion). Of course, the NOLs value is zeroed out because having too much debt and NOLs doesn't make sense as Tagar Olson pointed out during one conference call long time ago before the NSM acquisition. Meaning COOP deducts interest BEFORE taxes. So the NOL benefits and utilization gets diminished greatly.
All invested here are waiting to see something else here - rapid growth, more acquisitions, "free" legacy MSRs and on boarding of servicing assets etc. Who knows may be the markets will have a change of heart ?!
Uncle Bo
Thank you AZC, for keeping things in perspective...
bond-007, I would agree here, the attorneys are with their hand out to get paid and then they are out of there, there would be no bond or an appeal
Cura asada,elaborate please...
Can you please let us know where did the numbers come from ?! Is this millions, billions etc.
TIA,
Uncle Bo
Tnank you, JWW - wow ! P/E at 32.17