Replies to post #399220 on Mr Cooper Group Inc (COOP)

[WithCatz]

Eazy, no. It's been known (and documented in the POR) for a long time that the RONs were going to the lowest level of creditors reached. {In this case, it was the PIERS}.

The PIERS are still due more payment (the RONs only accounted for about 4.21 of 10.52 due per former PIERS share)

{As an aside, there was an attempt by the WMILT to 'sell' the RONs so that cash could be distributed to PIERs instead... that was nixed due to risks against the NOLs due to a possible IRS interpretation of the second-tier RONs}

Former Equity - once/if PIERS are fully satisfied {and a few more classes afterwards} -- receives cash only. Again, if/when the waterfall satisfies all the other classes first.

Your Escrow CUSIPs track that former ownership for distribution, if/when available.

...Catz

[Donotunderstand]

only H - the trust preferred got RON

way to look at it

If you have received by now a dozen letters from the WMI LT showing a definite dollar amount of claim - you should get RONs and then hopefully 2x more in cash over the next x months

If you have not received such letters - the escrow - which is lower on the waterfal is what you have. It may find money if H is paid off and a few others

LG see Billions - some of us see - maybe 300-500 million - 75% to preferred and 25% to common

Do not shoot the messenger - if only because I too hold a nice clump fo escrows