Replies to post #510590 on Mr Cooper Group Inc (COOP)

[Black Hills]

Thanks Silly, I believe it may be something that my bank thankfully did for me, as the new share amount of wmih (long since sold) was exactly a computation of .03 for each common held (and still held at zero value, since there is nothing we can do with them that I'm aware of other than wait it out). I tried once to shift them from my IRA account with the bank to another trading-brokerage account (with the same bank), since due to the great depression I had ample capital losses in the other account, and in any case if we did receive something for them at some time, I could have sold them tax free due to offsetting capital losses. However, the bank would not let me move them-even though I argued that there was no value associated with them. The bank acted like that most likely there would be value at some time.

[Docsavag]

Silly, fwiw, it's always been my understanding that if you didn't release, you would not have been granted WMIH shares when they were initially introduced.

[Large Green]

sillyinvestor and Black Hills, if you signed releases by 3/2012 you would have received NewCo/WMIH shares along with Escrow ShareMarkers with your timely signed releases. The following are numbers from SG Edgar Sargent who is the attorney that worked on the WaMu deal.

You should have CUSSIP that align with former WaMu common shares which is 939ESC968 and former WaMu Preferred which is 939ESC992 and this means you signed timely releases.

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142,500,000 (75% of 190,000,000) are distributed to holders of preferred securities as well as claims subordinated to the level of preferred. Total disputed claims at the preferred level are $106,514,585.09. For those claims, 2,109,051 shares are reserved. The remaining 140,390,949 are distributed evenly by liquidation preference across the $7.5 billion of preferred shares. However, while the TPS are denominated in 1,000s, the Series K has a face amount per share of $25.

For the TPS, 3,729,658.260 shares provided releases and will receive 73,849,406 shares or 19.80058 new shares per old share. This share count is after giving effect to the mandatory exchange.

For Series R, 2,906,421 shares provided releases and will receive 57,548,829 or 19.8005825 new shares per old share.

For Series K, 18,166,565 shares provided releases and will receive 8,992,714 shares or 0.4950146 new shares per old share.

For the common shareholders, they are receiving 47,500,000 shares of which 4,165,750 shares go to the Dime Warrant holders, 2,631,933 shares are reserved for disputed equity claims, 693,806 shares will be distributed to Principal Financial on account of their claims and existing common will get 40,008,511 shares. For each share of existing common granting releases in the total amount of 1,194,340,178 shares, they will receive 0.03349842 shares.
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