Replies to post #638244 on Mr Cooper Group Inc (COOP)

[Royal Dude]

This is is why the distribution has to be done by the EOY and why there needs to be 2 distributions. The 7 bil NOL must be protected until next year and therefore the merger of Northstar in COOP.

They have any time before December 28th but will probable be on December 15th or before.

"Pursuant to the issuance on May 4 of Rev. Proc. 2020-19, the IRS has relaxed the annual income distribution requirement for publicly offered real estate investment trusts (REITs) by temporarily reducing the amount of cash that needs to be distributed as part of an elective cash/stock distribution. This IRS guidance, which mirrors the IRS response to the 2008 financial crisis, provides welcome relief for many REITs that have been faced with the challenge of reduced cash flow as a result of the COVID-19 pandemic.

REITs must generally distribute at least 90% of their taxable income each year. This requirement can – and usually is – satisfied with cash distributions."

https://www.venable.com/insights/publications/2020/05/irs-relaxes-reit-distribution-requirement

[AZCowboy]

~ Hex, Yes That Is Correct, Reorganized WMI, "WMIH" Is The Parent Corp., ~

AZ - I know you’ve been through this 1000 times but From the point of view of the merger and fast forwarding today we’re still in the same position correct? - It seems clear as day WMIH Has remained separate

From the 2018 merger agreement first page:

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AGREEMENT AND PLAN OF MERGER
AGREEMENT AND PLAN OF MERGER (this “Agreement”), dated as of February 12, 2018, among NATIONSTAR MORTGAGE HOLDINGS INC., a Delaware corporation (the “Company”), WMIH CORP., a Delaware corporation (“Parent”) and WAND MERGER CORPORATION, a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”). Parent, the Company and Merger Sub are referred to individually as a “Party” and collectively as “Parties”.
R E C I T A L S
WHEREAS, the Company, Parent and Merger Sub desire to effect the Merger (as defined below);
WHEREAS, pursuant to this Agreement, Merger Sub will merge with and into the Company, with the Company surviving the merger as the surviving corporation and a wholly owned subsidiary of Parent (the “Merger”), in accordance with the General Corporation Law of the State of Delaware (the “DGCL”), and each share of common stock, par value $0.01 per share, of the Company (the “Company Stock”), shall be converted into the right to receive the Merger Consideration (as defined below) upon the terms and subject to the conditions set forth herein;

So this is where we are today Ever since the nation star merger we have WMIH as a parent - still not reporting anything yet and the sub that was name changed To coop And sec registrant reporting.

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Yes, ... "WMIH" has remained the Parent, ... while "WMIH and its Subsidiaries" ... were restricted while the Bankruptcy's remained open, ... But That's Not The Case Any Longer'

AZ