Replies to post #398498 on Mr Cooper Group Inc (COOP)

[Donotunderstand]

AZ

I have H claims

I have escrow from common and both regular prfds

I bought H based on it being debt (TRUST preferreds have been viewed by all cases involving banks etc as debt. E.G. For better or worse - at Citi - regular pfds were converted to common - as both are equity. Trust preferreds at CITI were treated as the lowest debt - but debt

Same here - I wanted the lowest debt. It was selling for months and months at a price that assumed near zero payment. I assumed it would get the 25 bucks. I was almost right until the FED interest rate pay up to sr paper. That left 10.50

And I was right that H was positioned in a higher tranche and I had full expectation that whatever money was found - by the time they hit H - PIers - those claims had to be paid in full before the tranch was closed

I held by common and prfd to own WMIH - as I still think that will move to 6

Re escrow - I never expected money - but if new NOLS or ? (the secret squeeze by Sussman rewards) come to be before the close of the case and it collects dust - I hope it is 5 billion and we all get rich

I do not have a conflict -- seriously. No conflict with LG or anyone. I simply state - and believe - and wait to see - that debt while not promised to be paid in full can not be left not paid and equity paid.

ONE HUGE MASSIVE EXCEPTION was wrtiten into the final "map" - newco with the NOLS and cash and borrowing capacity went to equity before all claims and assets were decided. Very unusual but done. IMO that is the deal SUSSMAN could reach (good or bad is not my issue). That did occurr. But WMIH assets were defined in the "map" and any further money found (if any) must pay Tranch 4 - any other higher remaining claims not voided as trash and then can move to escrow. So if billions are found (have been held to not embarass JPM in the 11 etc) they will indeed flow to the escrows .... but not until all higher creditor etc claims are paid per the MAP

LG is saying - and Catz asked again - that escrows would see money before H saw 10.50 (NPV) - wrong

[GO4AWILDRIDE]

AZ

I bought WAHUQ's after the major drop in price from $16-12 range to $4 range.

Then I bought just as many at the $1.28 range.

It made sense to get into JR SUBORDINATE DEBT at such low price when the POR 7 was stating $10.50 as the possible payback.

Decided to buy in for the possible 4X as well as making sure I could vote the PIERS to make sure we got the best possible BK outcome.


GO4AWILDRIDE

[WithCatz]

AZ -- I'm thinking that the why I invested in PIERS has little to zero relationship to the open questions on the PIERS LTIs being paid.

Or, are you inferring, those that didn't purchase PIERS have a vested interest in misrepresentation?

My original question stands -- regardless of anyone's reason or rationale on why they purchased PIERS.

We're past the point of "why" -- folks either did or did not invest in PIERS and for whatever personal reason.

Now we're into the "how" they will be paid -- and that is the only viable question moving forward.

And the questions being asked stand.

...Catz