Rocket Companies Inc (RKT)

[ron_66271]

Yes, ~2X Over Backed Securities.

Ps, Ks, WMB Notes all over back with ABS/RMBS.

The interest payments went away with BK.
But the Performance Payments are accumulated into the Trust.

My math;
~2.7X from Performance.
~2.7X from Retained Earnings.

Common’s own WMI/WMIH.

Plan 7 was to pay Creditors.
Plan 6 is for Equity.
Thank you AAOC.

Yes TBTF still has to pay for the loan losses insured by their CDS.



Ron