AZ & LG if you both see a share for value exchange take place before shareholder vote. Would this dilution of shares have any negative effect for the NSM shareholder? I would think so.
I see value coming back, but it could also be in the form of managed assets - where and cash value get paid to escrow holders and remaining MBS/ABS go under managed servicing fee and no share for value exchange given out which would dilute share value.
This managed asset would be win win as the new company would grow by added servicing MBS/ABS and escrow holders would get dividend payments for long time.