Mr Cooper Group Inc (COOP): The original merger SEC filing said that...

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Mr Cooper Group Inc (COOP)

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Re: mordicai post# 523215

Friday, 06/22/2018 4:04:45 PM

Friday, June 22, 2018 4:04:45 PM

The original merger SEC filing said that the 2.7B was planned to pay off NSM debt and cash out a number of NSM shares.

A few weeks ago, there was a news that an undisclosed buyer has bought CIT reverse mortgage portfolio and the deal will close in Q2, 2018.

NSM itself has about 800M in cash.

Can this money be used now to pay for the reverse mortgage portfolio instead of paying off the debt?

In any event, the loan was originally given to NSM alone. Now if NSM merges with WMIH, it will need to get consent of the lender for the merger if the loan is not paid off.

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