Replies to post #506509 on Mr Cooper Group Inc (COOP)

[hotmeat]

All I can say with some assuredness is that pre POR6 the hedgies held the vast majority of Piers, hence the $2M limit for participation in WMIH so they could exclude smaller Funds and retail holders.

Also if you look at the largest holders of released WMIH shares upon emergence, it is not difficult to determine that these were received from releasing Preferred shares due to their higher conversion and releasing rates.

The "Release" figures demonstrate this.....

TPS: 93.2%
WAMPQ: 96.9%
WAMKQ: 90.8%
WAMUQ: 70%