Mr Cooper Group Inc (COOP)

[boarddork]

Consolidated filer versus Unconsolidated filer. Learn the difference! It's what we are failing to see, IMO. https://www.investopedia.com/terms/u/unconsolidated-subsidiary.asp

Seeing how WMIH trading as COOP, and loves to SEC report and be accounting audited based on "Consolidated subsidiaries", I thought I'd read up on how "Unconsolidated Subsidiaries" can be hidden in plain sight on balance sheets and financial statements.

An Unconsolidated WMIH subsidiary, where WMIH/COOP has less than 20% or zero shareholder control..(like say where legacy who released for DTC markers own the majority), in true hide-the-sausage fashion, this "passive investment" can be hidden by recording this investment (no matter how massive it has grown to be over 12 years and counting...) under its 'historical cost' or 'purchase price'.

Unconsolidated Subsidiaries can literally be worth tens of billions of dollars right now, yet be reported on Consolidated financial statements under historical cost or purchase price.

When you look at what legacy WMI shares and DTC tracking markers are worth then and now, historical price is really nil.

WMIH trading as COOP has been able to literally sweep the entire value of legacy WMI, under the rug.