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Replies to post #665420 on Mr Cooper Group Inc (COOP)
So, some very rough napkin match would be,
* a singular released "P" is yet owed roughly $67.50 per year for 12.75 years, or $860.625 without any additional interest assigned'
* a singular released "K" is yet owed roughly $1.00 per year for 12.75 years, or $12.75 without any additional interest assigned'
* a singular released "uq", common share is yet owed roughly $1.47 per year for 12.75 years, or $18.7425 without any additional interest assigned'
In early April 2021 the Source stated that all the MBS would be given to Mr. Cooper by June 30, 2021 and that the Mr. Cooper Stock disbursed by various brokers. The Source further said that Mr. Cooper was obligated to report receipt of the MBS in its ’34 Act filings in the same quarter as the date of receipt but did not do so while Plaintiff’s Third Circuit litigation with the Trust survived and is planning to disburse the Mr. Cooper Stock regardless of the Final Decree. The Source was told that: “Griffin will be surprised.” The Source indicated that Mr. Cooper’s management was very anxious about fulfilling its ‘34 Act regulatory reporting requirement with respect to the MBS. The Source also indicated that the value of the MBS had increased to about $600 billion.(4) (The current value is unsurprising given the total MBS retained by WMI in its securitizations through 2008 totaled approximately $135 billion according to archived WMI ’34 Act filings.) Further, the Source stated that in addition to the Mr. Cooper Stock, Legacy Holders will contemporaneously receive a cash payout of 2.5x par.
(4) To illustrate the impact of the MBS, for each $10 billion recovered each Class 19 security receives par and each Class 22 security receives approximately $2.10. Therefore, by Plaintiff’s estimate the $600 billion in MBS would provide as much as 60x par to each Class 19 security and approximately $125 per Class 22 security, both payable in Mr. Cooper Stock.
08/05/21 7:14 AM
