Replies to post #439760 on Mr Cooper Group Inc (COOP)

[Donotunderstand]

yes

and it is paid by WMIH not the LT

as explained to me here

WMIH issued a ton of notes per the POR

at 13% they should have been of interest to creditors

most creditors took cash or WMIH stock or ? but not these notes whose only recourse is the runoff re insurance book of business

WMIH owed the LT money but as it had the notes left over it paid the LT with these notes

The LT tried to sell them as a mass and create cash and did not get a satisfactory bid

The LT paid part - part - of the PIERS LTI with these notes

I did think that all the SR paper was called and thus I think this partial call by WMIH (not the LT) is of JR notes at par and now trading about 90-97 cents on the dollar