Mr Cooper Group Inc fka COOP

[wwhatthe]

Howard Hughes, thank you for posting this.

My thoughts on that article.

You said…
ESCROWS WILL NOT BE PAID....EVER!

That’s true… But,

That’s because…
We don’t get paid for our Escrow Markers or Escrow CUSIPs …
We get paid for our Equity Interest.

You Posted,
Quote…
(…As previously disclosed, however, former positions represented by such Escrow Markers or Escrow CUSIPs are not entitled to receive any distributions under the terms of the Plan and they do not, in and of themselves, represent an entitlement to any possible future distributions from the Trust, Reorganized WMI or the Federal Deposit Insurance Corporation)
End quote.

Here where it says…
“former positions represented by such Escrow Markers or Escrow CUSIPs”

The words “former positions represented by such Escrow Markers or Escrow CUSIPs” …
Refers to those shareholders that released and received new company shares…
plus, they received their Escrow Markers or Escrow CUSIPs, for their disputed shares.

At this point…
All new company shares including disputed shares, have now been distributed…
So, that “former positions” is completed and now has no meaning.

“former positions” …
Only includes those Preferred and Common shareholders that released…
and received Escrow Markers or Escrow CUSIPs…

“Equity Interests” …
Includes all Preferred and Common shareholders, whether you released or not.

So…
Equity Interests represents shareholders that released… and shareholders that did not release.
Or “all shareholders”.

What the paragraph is saying is that…
Any future distribution…
does not only go to those shareholders that released, or to only those that have a,
former position… represented by such Escrow Markers or Escrow CUSIPs

This is because…
We don’t get paid for our Escrow Markers or Escrow CUSIPs … we receive new company disputed shares for our Escrow Markers or Escrow CUSIPs.

We get paid for our Equity Interest.
Which, includes all Preferred and Common shareholders shares, whether you released or not.
Or includes “all shareholders”.

From page 21, or pdf page# 36/767 from the…

SEVENTH AMENDED JOINT PLAN OF AFFILIATED DEBTORS (Link)

1.170 Preferred Equity Interest: An Equity Interest represented by an issued
and outstanding share of preferred stock of WMI prior to or on the Petition Date, including,
without limitation, those certain (i) Series K Perpetual Non-Cumulative Floating Rate Preferred
Stock, (ii) Series R Non-Cumulative Perpetual Convertible Preferred Stock, and (iii) the REIT
Series.
The Petition Date is September 26, 2008

So…
Issued and outstanding shares… refers to all the shares of your class, not just those shares that released.
It’s the total amount of shares, prior to or on September 26, 2008… which includes everyone’s shares… released and/or not released.

For REIT… it’s 4,000,000 shares with a
liquidation preference of $4 billion dollars or $1,000 per/share
(not the 3,729,658.260 shares released)

For Series R or P’s… it’s 3,000,000 shares with a
liquidation preference of $3 billion dollars or $1,000 per/share
(not the 2,906,421 shares released)

For Series K… it’s 20,000,000 depositary shares with a
liquidation preference of $500,000,000 dollars, equivalent to $25 per depositary share.
(not the 18,166,565 shares released)

Total Preferred Equity Interest is equal to 4,000,000 shares plus 3,000,000 shares plus 20,000,000 depositary shares or, 27,000,000 total shares… with a liquidation preference of $7.5 billion Dollars.

It’s not the 24,802,644.26 shares that released, with a “former positions represented by such Escrow Markers or Escrow CUSIPs”.

Or… Preferred Equity Interest is equal to $7.5 billion Dollars.

This is where Common Equity Interest is defined…

Pdf Page# 221 of 755 from the DISCLOSURE STATEMENT It states… (Link)

The Seventh Amended Plan defines “Common Equity Interest” as collectively, (a) an
Equity Interest represented by the 3,000,000,000 authorized shares of common stock of WMI, including, without limitation, one of the 1,704,958,913 shares of common stock of WMI issued and outstanding as of the Petition Date

It’s not the 1,194,340,178 shares that released, with a “former positions represented by such Escrow Markers or Escrow CUSIPs”.

So…
Common Equity Interest is equal to 1,704,958,913 shares which represents all the common shares… released and/or not released.

Equity Interest has nothing to do with released shares or a former position… represented by such Escrow Markers or Escrow CUSIPs.

Creditors are paid by the bankruptcy.
Equity or our Equity Interest, is paid by the FDIC.

Thank you for your Post on that article, it gave me a chance to point this out.

all IMHO…
Stay safe… Stay healthy

GLTU

wwhatthe