Mr Cooper Group Inc (COOP)

[goldcanyon341]

Footnote 1 relates to actions that were taken on August 23, 2013. It refers to the 2nd paragraph in Judge Walrath's Order. It is describing the sequence of events.

The entire order when read as a whole, dismisses the employee claims.

The PIERS should be paid off November 1st. As a result, all creditors will have been paid off and the waterfall is going to drop down to equity. Equity may receive LTIs because there should be several million left in the WMILT. These LTIs, if granted, would be separate from escrows, which I consider to be the off balance sheet assets held by WMIIC. WMILT could use LTIs as the vehicle to move everything back including escrows or escrows may continue to stand on their own.

November 1st is the next major date to watch, but prior to that WMILT may request to vacate the reserve that was set up for employee funds.

This is a necessary step for the court to take, paying off the creditors before equity can receive anything.

This is significant and events are moving rapidly.