Agreed. This should be trading at 1.42 based on the minor details of the deal. We don't know the true health of Nationstar.
Once we get a true idea of assets, debt incumbrences, and forward looking revenues of Nationstar, the price will adjust accordingly.
They bought a lot of mortgages over the last 10 years from failed institutions like Countrywide etc...
My guess is that incumbrences will be high due to where we are currently in the housing market pricing. We are topping out in the housing prices.
I think the value here, will be fed interest rate increases over time. Thus, the wmih share price will stay under $2 for 2018, but will likely shoot up steeply in the coming years. Perhaps a $7 stock by 2020.
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