Replies to post #603034 on Mr Cooper Group Inc (COOP)

[Donotunderstand]

as a PIERs owner - but bad memory

my memory is the LT noted and put in writing the LT INTEREST I had about 4-5 months after I had an escrow #

I then had a $ number

A huge part of how the LT was going to pay PIERS was with money owed to LT from WMIH per the POR

WMIH had jr and sr secured paper they tried to sell en mass but could not get reasonable price.So they sent the paper to LT as paper (bonds). The LT distributed the paper to us as securities.

Those bonds - now held by PIERS owners in their accounts - were backed by a sinking set of bonds (money due to WMIH). As the LT got paid - they paid us

So it took a long time but the $$ obligation was put in writing by the LT - in full - way ahead of that

The LT has not done any dollar LTI for equity