Replies to post #400478 on Mr Cooper Group Inc (COOP)

[Donotunderstand]

iPrelude

I work in very round numbers

Distinguish between the RUN off notes and the WMILT claim

You should have a dozen letters showing your total calim per released set of H shares (say my three accounts get three letters to my HOUSE)

The value of the RoNotes - used to START payment on the H holder total claim is not supposed to equal your claim. Depending on the math you use they are 34-37% of your claim (Again someone else can be more precise)

So assuming your math is off (as % change up v down are very different) - if this number value is say 35% of your TOTAL claim then you got the right number - per my sense of what the WMILT did

NOTE ------ the WMILT will likely send cash and reduce your RONotes as THEY want to get rid of the 13% obligation (even if all they were going to do is pay it for 10 years and close shop)

That cash likely will go to your brokerage account where they put the book entry bonds. As you get cash (that is no a quarterly dividend - interest payment) then the value or number of bonds goes down - as they redeemed thme or called them or bought them from you at PAR

Money on the remaining say 65% of your claim - if and when available to the WMILT will be sent to your house to reduce that obligation

[Donotunderstand]

H holders got no WMIH and no escrow and got a claim against the LT as H shares as TRUST prfd had a bond like call on the estate

Other regular pfd and common got some WMIH shares and an escrow that is a place holder that says when every penny owed above equity (tranch 6?) is paid and done - then ALL that is left (if a penny or a Billion) goes to escrow

again
equity got WMIH and escrow (right to the very end of the liquidation trust - should there be any money up to 100B - see LG)

trust prfds - H - got a claim against the estate - that is being paid off in cash and started with a RONote payment

trust pfds do not have WMIH or escrow
equity does not have a high claim on the LT - its claim is the escrow that many of us believe is worthless - much like that in 99% of bankruptcies (the escrow is establish in almost all 11 cases and in almost all is not paid a dime)

Do not shoot the messenge espeically as I hold ALL (and lost a ton pre seizure by Sheila - and more when Rosen stood up and said there are BILLIONS for every one - and more BILLIONS but not a dime for equity - or regular prfds ouch outch

I might make a bunch back on H if it pays 10.55-10.60 (as I bought a bunch more when the higher level bonds stripped the H of much of their interest but drove the price to super low dumb prices - or so I thought)

I too will only get even on common and pfds if Escrow bails me out - but I have no such expectation whatsoever. And I am old enough to be happy to be proved wrong and have LG crowned King of the Universe if he is right