Replies to post #499160 on Mr Cooper Group Inc (COOP)

[CBA09]

Ref: 1) Could you explain the significance of the fluid Conditional Exchange between the Cayman Pref Securities-Trust Securities and WMI.

Comment:
The funds raised by the offerings were classified as Core Deposits thru the issuance of preferred stock. Thus a obligation within the equity section of the balance sheet - WMB


When the exchange event happened the obligation to the investors of the preferred stock went to WMI. In tandem so did the equitable interest in remaining balance of the initial $ 5.4 Billion HEL.