Mr Cooper Group Inc (COOP)

[jackson227]

"Preferred stock is rated in a similar fashion to bonds as well. Standard & Poor's ratings range from AAA (best) down to D (worst). These ratings help investors make judgments as to whether the underlying company will be able to pay dividends. Should the company default on dividends and declare bankruptcy,



PREFFERED stock holders are ENTITLED to ASSETS ..........


BEFORE common stock holders. "



"The bottom line is that preferred stock is less risky than common stock. It's designed to provide an income generating opportunity for investors while raising capital for the underlying company. As Buck investors, we probably shouldn't be thinking about preferred stock until we approach retirement in 30 years, but it's good to know the difference. "

This is a partial quote from one of the almost INFINITE # of

RESOURCES that are available that can answer a LOT of your ?s






https://www.techagreements.com/agreement-preview.aspx?num=628198&title=Washington%20Mutual%20-%20Securities%20Purchase%20Agreement




http://www.secinfo.com/dsvrp.uXuv.htm



BYLAWS: http://www.secinfo.com/$/SEC/Documents.asp?CIK=933136&Type=EX-3


http://investors.wamu.com/interactive/lookandfeel/102028/V23402_WAMU_424b5_Clean_.pdf



Washington Mutual (WM) Prices 3M Convertible Preferred Share Offering

More News related to WM
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Investors Suffering Stock Market Losses as a Result of Holding Over-Concentrated Positions May Have Claims Against Their Brokers; The Law Firm of Stein, Rosenberg & Stein, P.A. is Investigating
Markel (MKL) Estimates Losses From Recent Hurricanes; Comments on Losses From Lehman and WaMu
WaMu Bank Noteholder Group Represented by Bracewell & Giuliani LLP Forms to Participate in the Receivership for Washington Mutual Bank and the Chapter 11 Proceedings for Washington Mutual, Inc.
More News related to WM

More News related to Equity Offerings
More News related to Equity Offerings
December 12, 2007 8:37 AM EST

Washington Mutual, Inc. (NYSE: WM) priced a public offering of 3,000,000 shares of 7.75% Series R Non-Cumulative Perpetual Convertible Preferred Stock with a liquidation preference of $1,000 per share, resulting in an aggregate liquidation preference of $3.0 billion.

The transaction was increased from its initial announced size of 2,500,000 shares
http://www.streetinsider.com/Equity+Offerings/Washington+Mutual+(WM)+Prices+3M+Convertible+Preferred+Share+Offering/3193052.html



http://newsroom.wamu.com/phoenix.zhtml?c=189529&p=irol-newsArticle_Print&ID=1086545&highlight=


WaMu Shutters Subprime Unit, Slashes Dividend
by: SA Editor Roy Mehta December 11, 2007 | about stocks: WM
SA Editor
Roy Mehta
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In a move to raise $3.7 billion, Washington Mutual (WM) announced Tuesday it will slash its dividend, cut its workforce, and sell preferred stock. America's largest savings and loan, WaMu has been hit hard by the residential mortgage crisis. It plans to exit the supbrime market completely and cut more than 3,000 jobs. The company's quarterly dividend will also drop to $0.15/share from $0.56/share.

CEO Kerry Killinger created a growth plan last year that relied heavily on loans to borrowers with tarnished credit histories, and now the company has the largest exposure to risky loans of the top five mortgage lenders. Killinger's leadership has come under question: "You just might say now's the time to take the golden parachute and walk away," said analyst Richard Bove of Punk Ziegel. The company will also take a $1.6 billion writedown related to home loan losses, and said it will suffer a loss in the fourth quarter. "Credit losses from WaMu's mortgage operations will be noticeably higher than previously estimated," and the bank's profitability will not "begin to recover" until 2010, Moody's said. The company also announced it will shutdown its broker-dealer unit. Shares of Washington Mutual were down 8.4% to $18.21 in early action Tuesday.


Sources: Bloomberg, Wall Street Journal
Additional Reading: Washington Mutual Is Headed Lower
Earnings call transcript: Washington Mutual Q3 2007






http://seekingalpha.com/article/56941-wamu-shutters-subprime-unit-slashes-dividend


NOT REALLY RELATED TO YOUR QUESTION BUT THE LAST SENTENCE
SAYS IT ALL! : ^ )

http://www.reuters.com/article/businessNews/idUSTRE4A66SY20081107