Mr Cooper Group Inc (COOP)

[ItsMyOption]

Willie424, re: “ Embedded derivative” as AZ understands, and may have better explanation. This “ Embedded derivative” is manly an accounting gimmick, and one that could ether help or hurt the company by booking artificial profits or losses.

IMO, the company and restricted preferred shareholder wanted this accounting gimmick in place to let the preferred holders – large Hedge funds understand if they move the pps of WMIH down then WMIH can book an artificial profit. This profit is in part the difference in the pps and the conversion price as per agreement.

Most likely this was known by all of those Hedge funds and the plan was in place to restructure the conversion price from the $2.25 level down to the now $1.35 pps. That agreement coincidently got changed when the pps was down at its lowest pps of around .77.

WHY, because company and hedge funds knew that as the pps needed to raise it would create the negative affect for the company by booking artificial losses as the pps when up. YES, as AZ has stated we need those preferred shares converted for those restricted shares and this “ Embedded derivative” gimmick to stop. I am expecting the ending quarter – June will show WMIH will need to show and book a Loss based on the raising price since last quarter.

YES, unfortunate the company approved this and the Preferred holders where in on this scam totally used to manipulate the pps for the benefit of both sides. IMO, I do not expect the pps will be above the $1.35 level until after the conversion of shares, and possible on June 29th. Where is the SEC and why do they let this happen?