Mr Cooper Group Inc (COOP)

[keeblerz28]

From the Q3 2020 Earnings Call Oct 29, 2020:
Q/A

"Mark DeVries -- Barclays -- Analyst
Hey, good morning. I just wanted to clarify on one point. I think, Jay, you mentioned a date at which kind of the limitations on the buybacks from the DTA expire. What date was that? And also, I think you said, post that, you expect to be able to consider meaningfully larger buybacks.
Could you dimension that at all for us?

Chris Marshall -- Vice Chairman and Chief Financial Officer
Yeah. This is Chris, Mark. There is a -- essentially a 10% safe harbor on buying back shares in the first three years after a merger. So $382 million essentially limits that and that's how we size the $100 million buyback.
So you should think of that as our limit through August of -- you know next summer, August of next year. After which, I think our message was, let's hope our stock improves in value, where it is today and what we expect to build in book value over the next five quarters, we think the stock has tremendous value. If our stock was trading where it was today in August, we'd be buying our shares back in a far more aggressive way"

Essentially the company is not able to buy back additional shares until 3 years after acquisition, i.e. August 2021.