Mr Cooper Group Inc (COOP)

[boarddork]

COOP doesn’t own legacy P preferred assets. WMIH owns COOP, and WMIH separately owns P preferred assets.

COOP (frmrly nationstar) can’t own P preferred assets without paying for it…and I don’t know if that’s even ever gonna be on the menu. P preferred assets are instruments for WMIH (legacy WMI) benefit. Remember that’s how WMIH paid KKR’s preferreds A & B among other things. But KKR has been paid off years ago, and WMIH’s P preferred managing sub, has been storing the income ever since.