Mr Cooper Group Inc (COOP)

[survivor Spain]

Debt:
I did check in detail during my early DD back in fall 08. And WMI debt and liabilities were in the 8B, range where Assets were in the 7B range - the 4B deposit included, and the rest valued conservatively.

And the beauty - and somehow uniqueness - in this BK process is that the L is almost totally composed of very long term debt, with holders whose expectation is to get their interests paid regularily and the capital returned in a very long term period. There aren't any creditors in urgency to get paid to keep their business alive - as with most BK processes.

As far as I know ..the 8k reports and SOFAs filed regularily have never shown any surge in debt since then. It's true that IRS's filed some claims in BK as well as WMB's bondholders requested and obtained presence in the BK process. But none of these claims have made any progress so far or none of the claimants have presented any merit proof of claim yet.

So at this point and unless someone gives me some facts/docs showing otherwise ... currrent total debt is 8B+Prefs(3.7) = 11.7B. All long term.

I may be wrong here, but this are the facts I know about.

I hope it helps, cheers.