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8-K - 8-K - Mr. Cooper Group Inc.d688953d8k.htm

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF JANUARY 31, 2014

(in thousands, except share data)

 

 

 

ASSETS

  

Investments held in trust, at fair value:

  

Fixed-maturity securities

   $ 157,698   

Cash equivalents held in trust

     18,429   
  

 

 

 

Total investments held in trust

     176,127   

Cash and cash equivalents

     4,903   

Fixed-maturity securities, at fair value

     7,559   

Accrued investment income

     874   

Premiums receivable

     925   
  

 

 

 

Total assets

   $ 190,388   
  

 

 

 

LIABILITIES AND STOCKHOLDERS EQUITY

  

Liabilities:

  

Losses and loss adjustment expenses

   $ 36,016   

Losses payable

     7,164   

Unearned premiums

     1,321   

Accrued ceding commission expense

     83   

Other liabilities

     206   
  

 

 

 

Total liabilities

     44,790   
  

 

 

 

Stockholder’s equity:

  

Common stock, $1 par value; 1,000 shares issued and outstanding

     1   

Additional paid-in capital

     69,879   

Retained earnings

     75,718   
  

 

 

 

Total stockholder’s equity

     145,598   
  

 

 

 

Total liabilities and stockholder’s equity

   $ 190,388   
  

 

 

 


WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED JANUARY 31, 2014

(in thousands)

 

 

 

Revenues:

  

Premiums earned

   $ 820   

Net investment income

     475   
  

 

 

 

Total revenues

     1,295   
  

 

 

 

Expenses:

  

Underwriting Expenses

     1,283   

General and administrative expenses

     194   
  

 

 

 

Total expenses

     1,477   
  

 

 

 

(Loss) income before federal income taxes

     (182

Federal income tax benefit

     —     
  

 

 

 

Net (loss) income

   $ (182