Replies to post #120648 on Mr Cooper Group Inc fka COOP

[ez2bl8]

Hey Johnny, I put in WMI and WMB and WMBfsb...not sure what to use, but nothing came up for either. what symbol did you use?

[SamuraiProgrammer]

Looks to me that those bonds are trading in the $90 range. Isn't the face value of bonds $1000?

That would mean that these are trading at between 9%-10% of value.

Preferred stock are trading at roughly 2.5% of value.

This makes the bonds 4X more likely to cash in (according to the market).

It is not trading at or near face value as far as I can tell.

Someone that knows for sure (with links to pertinant info) please correct me if I am wrong.

[bigrow]

I typed in Washington Mutual Inc under corporate bonds and it came up empty but when typing in washington mutual bank it shows the bank bonds. So you are incorrect.

[Sculelos]

Thanks, well guys here is the bond info of what appears to be bonds the WMI IS liable for, it would also explain why the WAHUQ's are trading at nearly 25% of what they are worth as they will be included in the secured debt.

1 Bil WAMU.IE 01/15/2009
.0 Bil WAMU. GL 03/15/2009
.5 Bil WAMU.JB 08/24/2009
.504 Bil WAMU.IL 01/15/2010
.25 WAMU.IM 01/15/2010
.5 WAMU.HE 04/01/2010
.361 WAMU.JC 08/24/2011
.375 WAMU.IP 03/22/2012
.450.WAMU.IO 03/22/2012
.5.WAMU.IS 09/17/2012
.75.WAMU.IH 09/17/2012
.73.WAMU.IT 09/15/2017
.5.WAMU.JG 11/01/2017

Not that the total equals a grand total of 6.42 Billion, so we could potentially have 7.8 Billion in Secured debt, 6.42 Billion in bonds, 3.5 Billion in Preferred shares and whatever is left would go to the shareholders.

We could need as much as 17.72 Billion dollars to cover debt in it's entirety and before WAMUQ would see money but I don't believe this will be a problem for WMI.

My reasoning.

3.24 Current Assets / 7.8 Billion current secured debt

Then we got, at the very least if we win the current court cases.

7 Billion in tax refunds
4 Billion in WMI deposits
13 Billion from in damages the FDIC

That would still leave us with 27.24 Billion total - 17.72 which still equals over 5$ for the commons easily, and I don't know about you but there are many, many questions that still need to be answered before we find the true value of what was stolen from WMI in discovery. We still may find ourselves in a very good spot from now, either way thanks Johnny for increasing my understanding but know that I still stand strong on my position.