Mr Cooper Group Inc (COOP)

[ReikoBlack]

yes he said the NOLS were gone on a post 2 months ago.. lol

Yet, they were mentioned on the Amendment of Series B Preferred Conference Call on December 12. (just 6 days ago)

25:27
John (Dee?): (Kahuna?)

[Q: John] Hey, guys. Thanks for taking my phone call. All kidding aside, there’s been reports from deep inside WMIH that one of the reasons why a Merger has not been consummated is that KKR wants the entire NOL for itself. This transaction bears this out with it’s creeping ownership. Any comment? And, just a reminder, you know, KKR’s reputation is kind of on the line here.

[A: Tom Fairfield] Well, the…i think the Amendment speaks for itself in a sense that it discloses all the terms. And, KKR is a meaningful Series B investor. There are also other Series B investors. They don’t own it exclusively. They own about a third of that stock issue. So, and, the Amendment was done on terms that the Company believes were reasonable. It was heavily negotiated. As you’ve heard, i think, from some of the people that who have called in, there are Series B holders who are not thrilled with the Amendment, as well. So, we think the deal was struck on an arms length basis and gives the Company the opportunity to go forward and identify an Acquisition, and close it, which is the objective. So, that’s why it was done. It wasn’t done for any conspiratorial reason with KKR. And, we’re hopeful that we’ll go forward and able to reach the goal.

[Q: John] Alright, guys.

[A: Tom Fairfield] It gives us the time to do it. And, it sustains the capital resources to complete it.

[Q: John] Alright, sorry. There’s one of the problems with the size of the NOL and it’s finding an Acquisition that’s going to be cash flow positive enough to use the NOLs in a timely manner.

[A: Tom Fairfield] Well, i think the challenge for, you know, completion of the Acquisition is multifaceted, and it isn’t one thing. Any M&A transaction, if you’re going after an attractive company, there are typically competitors to buy it. So, there may be price competition. There may be other structural issues that, because of our NOL, we’re limited in certain ways that others might not be. We’re not a strategic buyer. You know, we’re a financial buyer. Depending on the transactions and size, we may be raising debt or leverage that we have to go to third parties for. So, there’s a variety of factors depending on the transaction, to bring any transaction by any buyer across the table, you have to overcome all of those obstacles and make it all fit. And, we’ve made significant efforts to do that. We’re disappointed that it hasn’t happened yet, but we do believe we’re capable of getting that done.

[Q: John] Alright, well. There’s a lot a disappointment with the shareholders as well, but i wish you guys good luck.

[A: Tom Fairfield] Thank you.

[A: Bill Gallagher] Thank you.