Replies to post #397660 on Mr Cooper Group Inc (COOP)

[Large Green]

AZ, again thank you very much for all of your due diligence. I know you have done very much reading of the contracts, POR 6 and POR 7 versus message board ramble. It shows very clearly that most people have NOT done their due diligence on these issues since 2008 and especially before the exchange for escrow shares was too late.

If they would have researched the Piers more and why the HUGE drop before exchanging of shares for escrow shares was too late, who could have owned/sold these and this many to create such a huge drop? If they would have done this and had the faith in Willingham/Susman like they should have had, then they would have owned preferred primarily and NOT PIERS.

[fsshon]

Yeah that is exactly why I never got involved in the PIERS. There was a time in 2010, that I flirted with the idea of owning them, but I settled on the P's and K's. I liked their chances of recovery much more, than the PIERS. That back-pay interest clause was a stopping point for me, from purchasing those securities. "They were beholden to the Senior Noteholders and owed interest to the crooks of March 2010." If Olti was a PIERS holder, oh my how he would have been PO'ed.

IMO the Preferred holders along with the equity holders of WAMUQ are in good shape for the tranches, once the funds come into play. However, the WMILT has not released anything about a recovery for them, until they do, we are holding placeholders of little to no value. This is obvious to most on here, but we hold out hope that the tranches will get to us and a recovery can be realized.

We did come out great in the settlement (IMO) because we were given common shares in a NEWCO that "are generating gains for our portfolio's." Escrow shares in WMILT that "may generate gains for our portfolio's." I don't know about you guys, but $1 to $3.40 is a 240% gain on your investment in 2 years. If you averaged down you are in a considerable green position. I for one, feel the KKR SIP and SPAC/V deal is going to blow WMIH "wide-open" real soon.

I am very happy with the outcome of this BK. I researched too many BK's after March 2010 and I was not happy with the results. We are very lucky that we got out of their with our skin intact. Yes, we lost some of it, but we still look good, We can afford the Plastic Surgeon to the fix the rest." Many Pre's are in the red, I understand this, but you've held on this long, the future of the NEWCO should make you green again. We will see what the future holds for us...
"light thru the trees!"

~Don~

Cheers

[Donotunderstand]

AZ

last year I paid taxes on a cap gain on H (they sent the 1099 and I dug up my associated expense or cost basis)*

this year indeed I paid taxes on a small amount of interest

WMILT would not fool with official tax letter distributions

the cap gain 1099 for CY12 was sent when they (LT) realized they had money to pay H (I think it was pegged at around 65-60% of claim which is the amount they felt comfortable they were paying as of 12-12)

the interest 1099-int for CY13 was sent as indeed until we get paid the obligation accrues interest

H will be paid - as a creditor - before the escrow sees a dime

I have a bunch of markers from common and other preferreds etc

I have WMIH

I have H

The first to pay well will be the H - fact

In the meantime I watch WMIH and hold on

My kids may some day see a few dollars from the escrows chiseled into my brokerage statements - mabye but no one is holding their breath

If there was a legal way for me to trade you all my escrow markets (a bunch) for 25K face of $25 H shares I would do so in a nanosecond