~ First, You Must Study The Functionality Of A Real Estate Investment Trust’ ~
Then apply the WMI business plan of the packaging and selling of ABS-Cert “Trusts” ... Mostly asset backed by “Real” property (1st lien mortgage loans) ... WMI selling off most of the high maintenance residential products ...
Now, place everything associated with the WMI Holding Company, in a Holding Pattern while its BK’s were actively being litigated, a Plan of Reorganization approved, and then completed ... in between 12/26/2008’ to 12/23/2019 ...
Now, Include a study of the SEC allowances, which allow the separating of the 03/19/2012 Plan Implemented Reorganized WMI Parent Corp., currently WMIH-Corp ... from a direct subsidiary, currently reporting as the “Registrant”, ... (the)*Mr Cooper Group ...
”Real Estate Investment Trusts (REITs) can provide numerous benefits to a variety of investors looking to invest in real estate, but fund managers must be conscientious of the rules that come with using a REIT. Among the many requirements to qualify as a REIT, a REIT is required to distribute at least 90% of its taxable income in each taxable year. If a REIT distributes less than 90%, REIT status could be compromised and taxes might apply. Fortunately, there are remedies available to a REIT that determines it is under-distributed. The following provisions may help a REIT meet its 90 percent distribution requirement:
If a REIT declares a dividend in October, November or December of a taxable year and the dividend is paid to the shareholders of record in January of the following year, the distribution may be treated as paid Dec. 31 of the current year for purposes of meeting the 90% distribution requirement for the current year. The inclusion of the dividend as a REIT distribution in the year declared rather than paid also means that the REIT shareholders need to recognize that dividend in the year declared. These distributions are only deemed paid by Dec. 31 to the extent that the REIT’s earnings and profits for the year exceed actual distributions paid. Any amounts paid in January that are not deemed paid on Dec. 31 are recorded as distributions paid by the REIT and received by the shareholders in the year of payment.
A REIT can elect to include a specific amount of distributions declared and paid in the following year as paid during the current taxable year in order to meet its distribution requirement. This is permitted as long as the REIT declares a dividend before the due date of the filing of the tax return, including extensions, and the dividend is paid to the shareholders within the 12 months after the year but no later than the date of the first regular dividend payment. If a REIT uses this option, it should be aware of the distribution requirements for the following taxable year as there could be increased risk of an excise tax. The excise tax is 4% of the amount by which the actual distributions for the year fall short of the required distributions. Shareholders must recognize the dividend in the year received.”
WMI’s Capital Trust is a REIT’ ... (WMI’s common shares) ... It appears from your question, that you are intertwining posted confusion regarding the process with the actual truth ... it was WMI the Parent Corp., that participated by a percentage of investment in some of its own packaged Trusts ... generally WMI only keeping a percentage of the good paper, the private equity commercial lines products ...
~ Know What You Own ~
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