Mr Cooper Group Inc (COOP)

[marayatano]

APR is strict only in a straight BK, when there is a settlement, APR is only a template. That said, if a "release" is needed from commons, then "consideration" must be exchanged to obtain that "release".

I am pretty confident that commons will obtain distribution, but IMO, that 70/30 split of the NEW WMI2 "may" change in favor of preffereds.

I believe that TPS have an easy win on the liquidating trust as 100% going to prefferds because that is the way it is being followed within the POR, except until it hit equity.

Bottom line: Commons, imo, will get distribution under the current POR.

IMO