Replies to post #511726 on Mr Cooper Group Inc (COOP)

[Donotunderstand]

Yes
WMIH owed money to LT and paid that obligation in notes investors did not want

The LT could not sell those for good price - so they moved them to brokerage accounts held by PIERS LTI holders

Eventuall WMIH called all back as they had a coupon of 13%

I think I got 2+ years of 13% on the junior issue and I know I got paid full par by WMIH calling the bonds in at PAR