Mr Cooper Group Inc (COOP)

[lluther]

Interest on Past Maturity Bonds (per mr. bus. on Y)

Here is a issue no one seems to have brought up. Why does the estate have to continue to pay contract rate on a contract that has matured? Instead once a bond has matured the promise to pay a certain interest rate has been fulfilled. After the date of maturity the bond should only earn a nominal interest related to the bankruptcy court issuing payments. Money waiting for a payment to be issued is equivalent to a certificate of deposit. In other words after maturity date the bond should only earn FJR with FJR being calculated from the date of maturity not the date of petition.

(continued)



http://www.kccllc.net/documents/0812229/... (Starting Debt Amounts)

Table 1:

WMI Debt Oustanding (by date of maturity)

WAMU.IE - 4.00% - Matured: 1/15/2009 811,336K
WAMU.JB - 2.95% - Matured: 8/24/2009 359,556K
WAMU.IM - 3.09% - Matured: 1/15/2010 176,600K
WAMU.IL - 4.20% - Matured: 1/15/2010 508,398K
WAMU.HE - 8.25% - Matured: 4/01/2010 470,004K
WAMU.JC - 5.50% - Matured: 8/24/2011 362,948K

WAMU.IO - 3.50% - Matures: 3/22/2012 363,491K
WAMU.IP - 5.00% - Matures: 3/22/2012 375,001K
WAMU.IS - 3.22% - Matures: 9/17/2012 447,174K
WAMU.IH - 4.63% - Matures: 4/01/2014 745,636K
WAMU.IT - 5.25% - Matures: 9/15/2017 727,916K
WAMU.JG - 7.25% - Matures: 11/01/2017 450,824K

Matured Debt: 2,688,842K
Immature Debt: 3,110,042K