Mr Cooper Group Inc (COOP)

[lodas]

wwhatthe.....the following link suggests a method for calculating "impairment" charges as related to investments....
https://viewpoint.pwc.com/dt/us/en/pwc/accounting_guides/equity_method_of_accounting/Equity_method_account/chapter_4/48_impairment_of_an.html#
pwc-topic.dita_e94d5b6e-ed1f-45f0-90ea-114ad2b51f55
the following example could be used to explain impairment: suppose your car engine is rated for 100 horse power, but it is only delivering 50 HP, so the engine is "impaired" 50%.. now is it permanent, or temporary?...if it is a sparkplug problem, the value of the engines out put can be restored to its original value, therefore no loss on your investment can be taken.... if the engine block is cracked, then the Loss is permanent, and the value of the car goes to " salvage value", and a loss is recorded on your taxes by the company for full value....IMO, when the voting began to sign releases, all the various classes were "impaired" because the values had fallen because of the Receivership takeover, but were restored to full value up to class 18 (18 being impaired) because of the GSA was signed... all these classes got 100% face value plus interest..... classes 19, and 22 voted releases under impairment, which meant the value of these assets were below market price....now are they temporary, or permanent?... well the link I quoted from the WMIH 10-q says that preferred and common shares were cancelled and extinguished...meaning?, temporary, or permanent.... I suggest the meaning is permanent, and no future recovery is to be made... IMO only.......Lodas