Mr Cooper Group Inc fka COOP

[CBA09]

40.2 Billion Asset Related Equity Adjustment.

Hmmm...so the 191.5 B was overstated by 40.2B.

Per Asset Related Equity Adjustment Note 8 - 40.2B is a direct reduction from 191.5B. Thus 191.5B is overstated by the 40.2B

My empirical experience gives me the impression this negative 40.2B relates to securitization from a true sale. A true sale in which the 191.5B had the unrecorded 40.2 Real Estate Mortgage Receivable not yet deducted.

Note 8 refers to non cash transactions and clearly "Receivables" are non cash transactions.

To comply with GAAP is the reason the 40.2B was removed. Per GAAP we see the 40.B true-up entry.

In summary - within the 191.5 Billion there was an unrecorded 40.2 amount that met both legal and accounting requirements to be removed from the consolidation.