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Mr. Cooper Group, Inc. (COOP)

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Last Post: 10/19/2018 2:31:54 PM - Followers: 1619 - Board type: Free - Posts Today: 81


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Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®.  Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies.

Upon completion of the merger between WMIH Corp. and Nationstar Mortgage Holdings Inc. on July 31, 2018, WMIH became the parent company of the Nationstar Mortgage Holdings Inc. family including Mr. Cooper (Nationstar Mortgage LLC, d/b/a Mr. Cooper), Xome and Champion Mortgage (Nationstar Mortgage LLC d/b/a Champion).

As of October 10, 2018, Mr. Cooper Group Inc. is the new name of WMIH Corp. On July 31, 2018, WMIH, now Mr. Cooper Group, became the parent company of the Nationstar Mortgage Holdings Inc. family including Mr. Cooper (Nationstar Mortgage LLC, d/b/a Mr. Cooper) and Xome.


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As early as late 2006, WaMu would begin to become a victim of what would eventually become the worst recession in US history since the Great Depression of 1929.  WaMu's aggressive business strategy would begin to unfold throughout the end of 2006 and become increasingly disastrous through 2007.  As housing rates were at all time highs before the recession began, WaMu would use its considerable leverage and assets to make large amounts of loans in both subprime mortgages and subprime credit cards.  The banking division of WaMu at one point before the end of 2007 had nearly 336 stand-alone branch buildings where various types of home loans were processed and approved.  WaMu would eventually over leverage themselves due to the high number of Adjustable Rate Mortgages (ARMs).  As the US economy slowed down, the number of home loan defaults began to rise in quick succession.  This coupled with the falling home prices throughout most of the US meant that even with foreclosures and the properties back in the hands of the company, they were unable to sell them back into the market, or were not able to derive enough revenue from the sale to cover the loan that was made on them.  In the mean time, the credit card division was also seeing a surge in the number of late and non payments being made.

By September of 2008, WaMu's stock price had fallen to $2 from its previous highs of around $50 just two years earlier.  Amid strong voices from the shareholders, then company CEO Kerry Killinger was dismissed by the company board.  In the meantime, the company went looking for a buyer for part of its banking division. WaMu had been unsuccessful in finding an appropriate buy until its seizure by the FDIC.  Overnight the companies banking division  was bought by JP Morgan Chase in a secret deal brokered by the FDIC for 1.9 billion dollars. Washington Mutual Inc. has reorganized to Washington Mutual Holding Inc. WITH SHAREHOLDERS INTACT
WMI Equity Escrow Calculator

WMIH: Here's how old shares relate in value to the new shares.

1 WAMUQ = 0.03349842 WMIH
1 WAMKQ = 0.4950146 WMIH
1 WAMPQ = 19.8005825 WMIH
1 WMIH = 29.85215422 WAMUQ
1 WMIH = 2.020142436 WAMKQ
1 WMIH = 0.050503565 WAMPQ

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#539980  Sticky Note I want to attach this post to the Dmdmd2020 10/02/18 01:01:28 PM
#397110  Sticky Note WaMu Seesaws On M&A Speculation fsshon 03/24/14 04:17:07 PM
#502732   Az, I have a question about the dual letter carrier 01/04/18 06:49:29 AM
#502730   Actually this is not related to the bankruptcy, Civil War General 01/04/18 02:11:12 AM
#502729   It's called "Bankruptcy Law" where all creditors must sometimes_right 01/04/18 01:27:52 AM
#502728   Now after all Subs are dissolved including 1031, nosch 01/04/18 01:07:11 AM
#502727   Great comeback!! "Suspect" wamuvoodoo 01/04/18 12:03:09 AM
#502726   Why is it BOD likes to pay everyone wamugold 01/03/18 11:57:46 PM
#502725   Is it really that improbable that our Markers hotmeat 01/03/18 11:11:48 PM
#502724   Thanks but it is that difficult for me. Countyroads 01/03/18 10:51:16 PM
#502723   Quote.."WHEREAS, the Company entered into the Original Escrow hotmeat 01/03/18 10:49:18 PM
#502722   It has to do with a regular escrow SamuraiProgrammer 01/03/18 10:47:58 PM
#502721   I didn't get that quote from an article. Countyroads 01/03/18 10:39:44 PM
#502720   This is the $600M preferred offering between WMIH hotmeat 01/03/18 10:29:02 PM
#502719   Half a billion- thats $50 per P. Nice! AaronTrainer 01/03/18 10:19:56 PM
#502718   I suspect the use of the words escrow SamuraiProgrammer 01/03/18 10:19:36 PM
#502716   LP, welcome back! intuitive3 01/03/18 10:13:23 PM
#502715   Maybe the DB money came in...around 600milliom mad4 01/03/18 10:04:31 PM
#502714   What is this about? Why didn't anyone Countyroads 01/03/18 09:58:27 PM
#502713   Looks like KKR and Citibank getting paid Civil War General 01/03/18 09:22:44 PM
#502712   You really know how to pick the Best Olti100 01/03/18 08:45:45 PM
#502710   Good bless you too Altini. I've been LuckyPanda 01/03/18 08:26:40 PM
#502709   thank you wamutrader! bump to top. LuckyPanda 01/03/18 08:20:40 PM
#502708   Section 1504 of the IRC - 61 months newflow 01/03/18 07:47:11 PM
#502707   "______, 201__" is a whole different animal than ",201". sidedraft 01/03/18 07:25:50 PM
#502705   O well ther is always 2019 keep waiting REALtime64 01/03/18 06:49:13 PM
#502704   Question to the Judge: huhubukti 01/03/18 06:39:18 PM
#502702   You don't think it's possible the date refers Mr Bombastic 01/03/18 06:38:46 PM
#502699   What's this about wamuvoodoo 01/03/18 06:10:29 PM
#502697   201 Comes From the Original Doc ron_66271 01/03/18 05:42:49 PM
#502696   to wamuvoodoo cattop 01/03/18 05:41:38 PM
#502691   Happy New Year LP and I am happy Olti100 01/03/18 05:17:16 PM
#502690   dmceng, I still feel a Material Development has Large Green 01/03/18 04:54:16 PM
#502689   In some, mostly European companies dates are set Maniek 01/03/18 04:53:12 PM
#502688   Fwh Let's get ready to RUMBLE!!!! dmceng 01/03/18 04:47:38 PM
#502686   I have no idea Donotunderstand 01/03/18 04:32:43 PM
#502684   Thanks BigAW. “Never argue with a fool, onlookers David West 01/03/18 04:30:34 PM
#502683   Can I make ANY of you understand that fwh3334zeke 01/03/18 04:28:55 PM
#502682   What if the ",201" is a bad copy/paste? sidedraft 01/03/18 04:28:07 PM
#502680   and Donotunderstand 01/03/18 04:25:07 PM
#502679   BBAN the hedge funds and ... and own WMIH Donotunderstand 01/03/18 04:24:03 PM
#502678   "shaking the tree" is a well known term lodas 01/03/18 04:03:34 PM
#502677   Typically when managing more than $10M, the fee DRgreek 01/03/18 04:00:09 PM
#502676   Where did the 100M come from? BigAW 01/03/18 03:52:32 PM
#502675   Thanks for the article. It’s makes you think. footballref-8541 01/03/18 03:51:19 PM
#502674   WELL FOR SURE ! AS I SAID MANY Johnnyiwantsome 01/03/18 03:45:32 PM
#502673   Thanks Ron and also the calling and cancellation cura asada 01/03/18 03:41:40 PM
#502672   RON you WOULD PUT THAT in a template BBANBOB 01/03/18 03:34:05 PM
#502671   Yes, past tense, because it is the template JusticeWillWin 01/03/18 03:32:43 PM
#502669   "Consummated On", Past Tense. ron_66271 01/03/18 03:31:30 PM
#502668   There has been no amendment to the KKR mordicai 01/03/18 03:27:32 PM