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Post# of 733786
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LuckyPanda

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LuckyPanda

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Monday, 04/30/2018 1:42:06 PM

Monday, April 30, 2018 1:42:06 PM

Post# of 733786
Let's entertain the position that WMIH was able to obtain $2.75B loan secured with assets and business value of NSM that it is about to purchase.

This proposed business model is the same thing as saying NSM will obtain $2.75B loan to do a share buyback from its shareholders.


Let's see...

NSM current market cap at the buyout price is $1.8B. It sits at a PE of 60. It earned $30 million last year. So that means it'll take about 50 to 100 years with growth to earn $6B so that it can use WMIH NOLs so that it can save $1.4B.

I would really love to meet the underwriters of this $2.75B loan to approve a billion dollar mortgage loan for me.

Eclipse is not likely NSM. There is still a very good chance that Eclipse is old Wamu safe harbored assets.
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