Mr Cooper Group Inc (COOP)

[AZCowboy]

~ Tzebedee, Here Let Me Try Again ~

I see the recent LT's announcement of the PIERS' "FINALLY" achieving "Basis" as a very, very good thing for the Rest' of us' ... again,

Claimants in Class 16, PIERS, received an LTI at around the Effective Date. These LTIs initially did not have basis for tax reporting purposes. As LTIs in the more senior classes of claims were satisfied by distributions from the Liquidating Trust Disputed Claims Reserve, basis in the Liquidating Trust shifted pursuant to the waterfall set forth in the Plan. As of June 30, 2017, PIERS claimants have basis in the Liquidating Trust.

Now ?, What Does a Security Achieving "Basis" Actually Mean ? ...

Initial payments made to beneficial LTI holders were made at around the Effective Date from Reorganized WMI. These initial payments were made prior to the issuance of any LTIs and were made to Tranche 2 claimants, which included claimants in Classes 2, 3 and 12 and 21. These payments did not satisfy any Tranche 2 claims in full. Pursuant to Section 27.3 of the Plan, remaining assets available to creditors not distributed in the initial distribution were placed in the Liquidating Trust. LTIs were simultaneously issued to all holders and Tranche 2 claimants received basis, for tax reporting purposes, as a result of the contributions of assets to the Liquidating Trust (claimants in other tranches received LTIs but no basis).

As a result, Reorganized WMI issued tax forms for any payments made to Tranche 2 claimants in the initial distribution and for any initial basis received when issued LTIs. Any claimant that was allowed on the effective date but released his claim after the Effective Date also received tax form(s) from Reorganized WMI. Subsequently, any payments made to LTI holders after the Effective Date were made from the Liquidating Trust or WMI LT Disputed Claims Reserve, entities separate from Reorganized WMI.

Form 1099-B reported the amount distributed on account of the securities held by claimants. This was capped at the allowed claim amount. Any additional payment or basis would be reflected in a beneficiary tax information letter or Form 1099-INT.

So, ... In My Opinion ? ... The Tranche 4 Class 16 Piers Securities, are FINALLY No Longer a Variable Moving Forward' ...

AZ