Mr Cooper Group Inc fka COOP

[ron_66271]

P’s are Non-Accumulating, Perpetual.

The interest payments are non-accumulating after BK.
But The Performance Payments are Perpetual for the life of the Trusts.

Some of the holdings in the Trusts are Commercial leases and long lived.

My math accounts for 2.2X face in Performance Payments for Series R (the P’s) based on Linear Interpretation of very good data points.
The Performance Payment is not associated with the February MOR Retained Earnings.


I don’t know about the Series K Preferred’s Performance Payments.

TPS of Class 19 went through the Exchange Event and are not associated with any trusts.



IMO;
Series K and TPS are only recipients of the February MOR Retained Earnings of 2.5X-2.7X face that satisfies their face plus past interest losses with a bonus.
Series R holders are to receive both the Performance Payment and the Retained Earnings.


The FDIC/JPM exaggerated dual claim of $27B was for the $25B on the BK table of WMI assets. ($33-$8=$25).
The FDIC/JPM ‘claim’ became the 363-365 Sales of the GSA.
These same assets of the 363 Sales are the same assets listed in the Equity Committees Presentation just before the Equity Committee took control over the Plan 6 Litigation Trusts. The 363 Sales assets became the RE.

…more protected assets outside of the BK…

The Debtor only has to display sufficient funds to cover all creditors.



Ron