Mr Cooper Group Inc (COOP)

[wamutrader]

..POR7 doc bottom pg. 56 thru top page 57 states in summary:

My Summary - non professional wording: In regard to Preferred Equity Shares: Preferred to receive Pro Rata share of 75% trust when all above classes paid in full.

In regard to Common Equity Shares: Common equity to receive Pro Rata share of 25% of trust when all above classes paid in full.

Basically, Common Receives pro rata portion of 25% of trust when above class Preferred equity and all others above paid in full first. There is no waterfall trigger to Common Equity at 25% until Preferred Equity PAR paid first (ex WAMPQ at $1000 each share.)

Everyone including Preferred Equity has to wait for higher tiers to be paid before waterfall trickles down to the next guy.

Once Preferred Equity PAR paid then all Equity shares 75/25 till the end of Trust bounty.

Am I incorrect in my assumption? I am not any financial or professional person. Read the POR 7 and decide using legal advice.