Replies to post #500915 on Mr Cooper Group Inc (COOP)

[Donotunderstand]

WAHUQ holders not directly impacted

WAHUQ is owed its value - LTI - by the LT

At one point WMIH - the owners of the runoff policies - used debentures backed by the runoff profits to pay an obligation it had to the LT based on the POR

At that point the LT found it could not sell those notes near PAR price

So the LT issued out those notes at PAR as partial payment to H holders

Since then - WMIH (the owner) has paid 13% interest and importantly called in about 90% (or more?) of these notes

The notes are independent of the residual owed to H by the LT

And H must be paid in full for equity to see the light of day from the LT

Per last public information - assuming employee claims are not paid much - there should be no trouble for LT to pay H and maybe have 30 Million (not B) for equity too

I am not speaking to all the - so far wrong - ideas of off balance sheet assets not transferred to and held by the LT