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Mr. Cooper Group, Inc. (COOP)

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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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COOP News: Mr. Cooper Group Reports Third Quarter 2018 Financial Results & Signed Agreement for Strategic Acquisition of Originator with... 11/08/2018 07:00:00 AM
COOP News: Mr. Cooper Group Inc. to Discuss Third Quarter Results on November 8, 2018 10/30/2018 11:23:00 PM
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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
#547300   "Remember, not to be the smart guy because goodietime 11/16/18 10:08:42 PM
#547299   He's referring to SH assets where Class 19 hotmeat 11/16/18 09:23:16 PM
#547298   Do you or anyone else know if the hotmeat 11/16/18 09:12:48 PM
#547297   Do the math of what? The affiliated mattchew 11/16/18 08:53:46 PM
#547296   No we have not! mattchew 11/16/18 08:50:13 PM
#547295   Of zero importance if anyone does or not. hotmeat 11/16/18 08:49:12 PM
#547294   If this happens I will receive that! mattchew 11/16/18 08:48:01 PM
#547293   "If, if, if" mattchew 11/16/18 08:46:16 PM
#547292   We have all agreed from day one that hotmeat 11/16/18 08:43:51 PM
#547291   Just think of how many more p's they Royal Dude 11/16/18 08:42:32 PM
#547290   Positve , Do not Trust them, remember ASAP Royal Dude 11/16/18 08:33:20 PM
#547289   If 75/25 results in $2000/PQ, I will receive hotmeat 11/16/18 08:30:17 PM
#547288   Not saying no distribution in November, but class mattchew 11/16/18 08:27:22 PM
#547287   Negative, 510 subordination. mattchew 11/16/18 08:21:32 PM
#547286   Remember, not to be the smart guy because Royal Dude 11/16/18 08:19:07 PM
#547285   Well said boarddork! mattchew 11/16/18 08:13:23 PM
#547284   And what are the assets for WMILT = Escrows? Oberthal 11/16/18 07:44:09 PM
#547283   One more time: jerrylev 11/16/18 07:11:22 PM
#547282   No, I am not worried about mine but jerrylev 11/16/18 07:00:18 PM
#547281   diamond, I like you wish we would see Large Green 11/16/18 06:49:50 PM
#547280   Payment for Dec 1st Royal Dude 11/16/18 06:39:57 PM
#547279   LARGE........I already KNOW "COOP" is a very HUGE diamondguru-one 11/16/18 06:37:33 PM
#547278   What does that mean K's are domestic 144(a) ? madmaster 11/16/18 06:31:00 PM
#547277   "no such distribution will be made during November. Royal Dude 11/16/18 06:20:12 PM
#547276   Dmd, it started out as a creditor claim LuckyPanda 11/16/18 05:59:58 PM
#547275   diamond, let us look at some relatively small Large Green 11/16/18 05:59:25 PM
#547273   Are you concerned that someone will use part SamuraiProgrammer 11/16/18 05:32:27 PM
#547272   Dmd, I am referring to this statement of yours: jerrylev 11/16/18 05:30:14 PM
#547271   Jerrylev, I’ll make it abundantly clear...IMO...75/25 to the end. Dmdmd2020 11/16/18 05:25:20 PM
#547270   Aren't classes 19 and 22 all the same jerrylev 11/16/18 05:21:22 PM
#547269   Very interesting. I always distrusted the SamuraiProgrammer 11/16/18 05:16:46 PM
#547268   Large before the end of year would be diamondguru-one 11/16/18 05:10:26 PM
#547267   Maybe I'm misunderstanding, but if this is true, goodietime 11/16/18 05:09:06 PM
#547266   No performing trusts once they are sold and jerrylev 11/16/18 05:05:39 PM
#547265   LG Really a great tell. The underwriter insiders are dmceng 11/16/18 05:05:39 PM
#547264   ?? Then WHY did Rosen even think there goodietime 11/16/18 05:02:55 PM
#547262   LP For the benefit of Ps or Us? Ps dmceng 11/16/18 04:51:38 PM
#547261   Dmdmd2020...PERFECT explanation! Your response regarding the people who Large Green 11/16/18 04:47:54 PM
#547260   DM I think its a significant clue to LuckyPanda 11/16/18 04:42:46 PM
#547259   LP dmceng 11/16/18 04:42:26 PM
#547258   With the lack of fiduciary responsibility they have Royal Dude 11/16/18 04:42:07 PM
#547257   LP Is the DB settlement $656 and since it dmceng 11/16/18 04:41:15 PM
#547256   Large Green, thanks for expanding more on many ItsMyOption 11/16/18 04:40:06 PM
#547255   LuckyPanda, I am of the belief that underwriters (Morgan Dmdmd2020 11/16/18 04:35:38 PM
#547254   ItsMyOption, WMILT just advised today there will be Large Green 11/16/18 04:34:53 PM
#547253   LP Seems that the 100 MIL number is being dmceng 11/16/18 04:33:01 PM
#547252   ~ Yep, That’s What I’m Also Doing, Watching AZCowboy 11/16/18 04:32:22 PM
#547251   Think about it this way.......the LT only has boarddork 11/16/18 04:31:53 PM
#547250   I received my WMI LT statement - no ItsMyOption 11/16/18 04:22:55 PM
#547249   Underwriter’s Actions Prove Beyond ANY Doubt Large Style Large Green 11/16/18 04:20:26 PM
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