Mr Cooper Group Inc (COOP)

[DarkB4Dawn]

Here is the document: https://www.sec.gov/Archives/edgar/data/933136/000119312514100035/d630387d10k.htm

Nowhere in the document does it mention "Off Balance Sheet Assets, or Safe Harbor Assets. Go ahead and take a look. You said they make those statements, they don't.

You state "auditors state that WMIH was worth 76.1 million dollars TOTAL if sold at the exit of chapter 11." it doesn't say that anywhere either.
It does state that a willing buyer would pay $76.6M but you have left out a key piece of information. Let me help you.

"A significant difference exists between the Equity Value determined by management and the value determined by the Court in an opinion dated September 13, 2011 in which the Court expressed its view with respect to the Company’s value (including the value of the NOLs). While the NOL asset has been recorded on the Company’s opening balance sheet at the value assigned by the Court, management also has recorded a full valuation allowance relative to these assets. The valuation allowance was determined to be necessary as management is unable to identify potential earnings from its existing operations and assets which would allow the Company to benefit from the utilization of these NOLs now or in the future. In the event that earnings are recognized in future periods, the availability of NOLs could result in additional value to the shareholders."

Now obviously as the company Mr. Cooper has acknowledged, those NOL's are helping out immensely and BTW, KKR felt so strongly they stepped in to provide additional financing. So while you continue to call out BS, maybe do a bit of review on your side. While an LT lawyer may have made some statements, the 10K did not and clearly referenced they believed the significant NOL's could potentially be valuable and disagreed with the court. Go 9er's and have a good weekend