Attached files
file | filename |
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8-K - 8-K - Mr. Cooper Group Inc. | d924716d8k.htm |
Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF MARCH 31, 2015
(in thousands, except share data)
ASSETS |
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Investments held in trust, at fair value: |
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Fixed-maturity securities |
$ | 45,816 | ||
Cash equivalents held in trust |
8,838 | |||
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Total investments held in trust |
54,654 | |||
Cash and cash equivalents |
151 | |||
Fixed-maturity securities, at fair value |
5,204 | |||
Accrued investment income |
371 | |||
Prepaid expenses |
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Premiums receivable |
530 | |||
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Total assets |
$ | 60,910 | ||
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LIABILITIES AND STOCKHOLDERS EQUITY |
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Liabilities: |
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Losses and loss adjustment expenses |
$ | 5,989 | ||
Losses payable |
411 | |||
Unearned premiums |
934 | |||
Accrued ceding commission expense |
39 | |||
Other liabilities |
159 | |||
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Total liabilities |
7,532 | |||
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Stockholders equity: |
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Common stock, $1 par value; 1,000 shares issued and outstanding |
1 | |||
Additional paid-in capital |
69,879 | |||
Retained earnings |
(16,502 | ) | ||
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Total stockholders equity |
53,378 | |||
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Total liabilities and stockholders equity |
$ | 60,910 | ||
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WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED MARCH 31, 2015
(in thousands)
Revenues: |
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Premiums earned |
$ | 378 | ||
Other income |
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Net investment income |
49 | |||
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Total revenues |
427 | |||
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Expenses: |
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Underwriting expenses |
(444 | ) | ||
General and administrative expenses |
148 | |||
Loss from contract termination |
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Total expenses |
(296 | ) | ||
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(Loss) income before federal income taxes |
723 | |||
Federal income tax benefit |
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Net (loss) income |
$ | 723 | ||
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