Replies to post #644541 on Mr Cooper Group Inc (COOP)

[Royal Dude]

But if they did and the P's are put into U's 20:1 then they are really adding assets to WMIH where the assets are spread over all commons only. The original P's will still be kept in the first distribution in the Por Ratios per MW in court illustrated.

[AZCowboy]

~ BoardDork, Here Is The True "Process" From The Company WMI & WMIH' as placed on the ("COOP") SEC site' (and without any of the if, if if, if, hogwash' and / or conjecture') ~

WMI pre bk' used a non-banking subsidiary to manage the WMI "P' preferred offerings' ... ABS Certs "Trusts", would distribute into WMI's Sub, and in turn the WMI Sub would manage, calculate, and distribute the interest earnings, which in turn the Parent Corp WMI would then approve of and issue the appropriate dividend' ...

through a series of events, ... WMI has obviously reorganized into WMIH ... and none of the original non banking subs, or the preferred non banking sub, or their procedures have actually changed' ... other than being restricted during the BK's of course' ...

However, ... WMIH as the reorganized WMI', ... has been using those same interest generated earnings, or the preferred funds earnings, to pay the coupon and the costs and fees for the newly issued WMIH preferred, ... the WMIH Corp issued A' & B Preferred issued to KKR' ...

So, Here Are Some of the Income & Loss Reported Numbers' ...

Successor; (after the reorganization)

Year Ended December 31, 2017
Net income (loss) $25,882,000.00
minus Series B' Coupon Paid <$18,050,000.00>

Year Ended December 31, 2016
Net income (loss) $201,700,000.00
minus Series B' Coupon Paid <$18,000,000.00>

Year Ended December 31, 2015
Net income (loss) $(61,833,000.00)
minus Series B Coupon Paid <$17,748,000.00>

Year Ended December 31, 2014
Net income (loss) $3,070,000.00

Year Ended December 31, 2013
Net income (loss) $338,000.00

Period from March 20, 2012 through December 31, 2012
Net income (loss) $(12,353,000.00)

Predecessor; (before the reorganization)

Period from January 1, 2012 through March 19, 2012
Net income (loss) $(3,433,000.00)

Year Ended December 31, 2011
Net income (loss) $(10,873,000.00)

So Year 2017 was the last reporting period as the B's all transitioned in July 2018 at the exact same time as the acquisition of NationStar' ...

AZ


























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(10,873

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