Mr Cooper Group Inc (COOP)

[Jestiron]

You wrote:
"...my sincerest hope, since i hold only commons,...that yes, perhaps preferreds could be indeed canceled, if allowed."

Would you hope that the preferred were cancelled if you held preferred?? Probably not based on that comment. Fortunately for those who HOLD PREFERREDS, the decision isn't yours! WOW!

They are called "PREFERRED shares" for a reason, not just a different type that you don't happen to own. In BK, it is the word PREFERRED that makes them valuable IMO!
Yes, there is a possibility that a conversion may be a term of coming out of BK by the court, or by an agreement with the other entities (FDIC or JPM), but, as many have mentioned, the role of the BK Court is to make all classes WHOLE. Conversion of the preferred into common would be a HUGE failure of the court as it applies to the THREE classes of preferred (or TWO if HUQs arent convertible) and would also dilute the commons O/S and force a shift in the ownership percentages (%).

On a tangent, I think we should see an A/S change issued to the SEC if they dilute, yes? I dont know the current A/S and quite frankly, I'm mega late for work!

Have a good day!

Jest.