Mr Cooper Group Inc fka COOP

[mwd44]

austin01-Class 22 wouldn't exist if someone wasn't representing them. The purpose of the 75/25 split was designed to keep common shareholders in the game.

The chances of getting the waterfall to the preferred shareholders was, at best, difficult. However, getting the waterfall to common shareholders was impossible. Hence, the birth of the 75/25 split.

The 75/25 split insured the life of all of equity. Even if one cent remained after all classes, ahead of equity were paid,common shareholders couldn't be cancelled. That penny would be split 75/25. Isn't compromise beautiful.