Replies to post #521288 on Mr Cooper Group Inc fka COOP

[Dmdmd2020]

AZCowboy,

Thanks for your continued insights and DD!

What is your opinion regarding the percentage cash/liquidation of the class 19 preferreds?

IMO...90%-92% have been liquidated and are now in cash.

Thanks in advance. Your responses are greatly appreciated.

[Juschilln]

So AZ, simple question; I only have Class 22's, so does this mean we will most likely ONLY RECEIVE some type of share exchange with WMIH?

TIA! Your post are very much appreciated.

[boarddork]

Thanks AZ ! It is extremely relevant that if one tranche backed by securitization is revving up its motors to run again as they did once before, than that means 100% that the other tranches are as well - that safe harbor is no longer a yoke to legacy WMI.

Safe Harbor is itself a 'none-shall-pass' gate. When cash/dividends prepare to move, than the floodgates are beginning to crack open.....slowly at first, and then all tranches get wet.

I see your point, about why Class 17 Euro backed tranches visibly show changes now, while domestic based ones don't as of yet. And yes, I am watching WMIH and my broker for hints of change to come.

I am beyond ready to move on from this fiasco!

[tpg]

What security was under class 17?

It's been such a long time to keep up with all classes
Thank you always appreciate your post

[Donotunderstand]

Does the money you see - the shares plus money - come to us directly or come to us via our ownership of WMIH which owns these assets?

[UncleBo]

AZ, Thank you for your insight yet again...

I have spoken with my broker several times and they have been clear that the markers, ALL markers, are controlled by the reorganized company. The broker will only do as WMIH Corp instructs them to...nothing less nothing more.

Also the remaining RMBS which are backing the preferred series, a quick note here. Everyone remembers that when Deutsche settled (a.k.a. Globic) we all saw the real numbers after nearly 10 years of these mortgages being run off. So from the original 165B-ish, there were just a bit over 13B left of unpaid principal balance or ~8%. Now take that percent and apply based on the assumption that the preferred backing mortgages have been liquidating at the same rate...

The original amounts total 7.5B which is comprised of 3B (Ps), 0.5B (Ks) and 3.5B (TPS used to be before the exchange event) - now all class 19.

So 7.5B x 8% = 600 million - Hm ?! Where have I seen this number...

Did you really think that KKR will flush their money down the toilet without any backing ?! I don't think so.

Oh, yeah and on top of that we just purchased a little revenue generating company and we have fully licensed re-insurance company.

Cheers,

Uncle Bo

~ BoardDork, Here Are My Own Opinions ~

It “currently” appears to me’ that the WMB Tranche 5 Class 17’s are being “Broker” prepared, for the Direct Owners of same, to receive their distributions, ... (DTC) ... activating the original WMB Class 17’s (now settled with Globic’), ... legal process and their necessary ... “Releases” ...

Now, ... The WMB Noteholder Program, Originally Issued Out of The UK’, ... (WMB Tranche 5 Class 17’), ... doesn’t have anything to do with the reorganized WMI, ... WMIH-Corp’, ...

... However’, ... Both’ have the exact same securitization processes, originally utilized by WMI the parent Corp., ... in common’, ... this is important ...

So, while I can monitor my own Class 17 ownership progression currently going on, ... I also believe the same is ALSO going on with the Class 19’s ... We’, ... just can’t see it, NOT QUITE YET’ ... WMIH-Corp is actually in control’ of these WMI (Exchange Event Transitioned), ... Series’

So, again in my opinion, ... When My Class 17’s receive a distribution ? So will my Class 19’s ...

There is a difference though, ... it appears to me that the Three Tranches of the Original WMB Noteholder Program, ... should be ALL’, “Cash” by now, ... and’, ... The Original WMI Preferred should be just MOSTLY’, “Cash”, ... just not quite all’, ... there are a few Class 19’ tranches that hold RMBS fixed rate 30 year mortgages, ... I believe WMIH-Corp will use the WHHMP series to accommodate those that originally own these, ...

So, ...

Tranche 5 Class 17’s ... “Cash”

Tranche 6 Class 19’s (P’s) ... “Cash” plus a new preferred issue’ (perpetual)

Tranche 6’ Class 19’s (K’s) ... get redeemed plus a non cumulative dividend payment (redeemable)

Tranche 6 Class 22’s ... Common Share Owners of the Original WMI Estate ... WMIH-Corp needs its own common shares, to accommodate a partnered ownership of the reorganized company’ ...

Remember, ... WMIH-Corp, is truly the reorganized WMIIC / WMI

AZ

[pm1012244448]

AZ , Are you thinking Commons will not receive any cash?