From the 10K report:
Mr. Cooper Group Inc.
(Exact name of registrant as specified in its charter)
Entity Registrant Name
Tag dei:EntityRegistrantName
Fact Mr. Cooper Group Inc.
Period 12 months ending 12/31/2020
Exhibit 21.1
Subsidiaries of Registrant
Subsidiaries Jurisdiction of Organization
Nationstar Mortgage Holdings Inc. Delaware
Nationstar Sub1 LLC Delaware
Nationstar Mortgage LLC Delaware
OVERVIEW - SOME MUD TO CONFUSE US
Mr. Cooper is a corporation duly organized and existing under the laws of the state of Delaware since May 11, 2015. On July 31, 2018, Wand Merger Corporation (“Merger Sub”), a wholly owned subsidiary of WMIH Corp. (“WMIH”), merged with and into Nationstar Mortgage Holdings Inc. (“Nationstar”), with Nationstar continuing as a wholly owned subsidiary of WMIH (the “Merger”). Prior to the Merger, Nationstar was a leading non-bank mortgage servicer, while WMIH had limited operations and was focused primarily on acquisitions.
Interesting??
AZ and other how do you read the highlighted below? variable interest entities (“VIE”
Basis of Consolidation
The basis of consolidation described below was adopted by Nationstar and applied to the Predecessor financial statements for the periods impacted by the adoption. The Successor’s financial statements reflect the adoption of such standards.
The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries,
other entities in which the Company has a controlling financial interest, and those variable interest entities (“VIE”) where the Company’s wholly owned subsidiaries are the primary beneficiaries. Assets and liabilities of VIEs and their respective results of operations are consolidated from the date that the Company became the primary beneficiary through the date the Company ceases to be the primary beneficiary.
NOTE: TRYING TO UNDERSTAND IF THIS IS STATING THESE VIE - variable interest entities ARE NOT PART OF THIS 10k AS THE COMPANY CEASES TO BE THE PRIMARY BENEFICIARY???
The Company applies the equity method of accounting to investments where it is able to exercise significant influence, but not control, over the policies and procedures of the entity and owns less than 50% of the voting interests. Investments in certain companies over which the Company does not exert significant influence are accounted for as cost method investments. Intercompany balances and transactions on consolidated entities have been eliminated.
