Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Mr. Cooper Group Inc. | wmih-8k_20160731.htm |
Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF JULY 31, 2016
(in thousands, except share data)
|
ASSETS |
|
||
|
Investments held in trust, at fair value: |
|
|
|
|
Fixed-maturity securities |
$ |
30,026 |
|
|
Cash equivalents held in trust |
|
1,474 |
|
|
Total investments held in trust |
|
31,500 |
|
|
Cash and cash equivalents |
|
1,260 |
|
|
Fixed-maturity securities, at fair value |
|
3,291 |
|
|
Accrued investment income |
|
303 |
|
|
Prepaid expenses |
|
13 |
|
|
Premiums receivable |
|
271 |
|
|
Total assets |
$ |
36,638 |
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDER’S EQUITY |
|
||
|
Liabilities: |
|
|
|
|
Losses and loss adjustment expenses |
$ |
918 |
|
|
Losses payable |
|
23 |
|
|
Unearned premiums |
|
325 |
|
|
Accrued ceding commission expense |
|
27 |
|
|
Other liabilities |
|
132 |
|
|
Total liabilities |
|
1,425 |
|
|
Stockholder’s equity: |
|
|
|
|
Common stock, $1 par value; 1,000 shares issued and outstanding |
|
1 |
|
|
Additional paid-in capital |
|
69,879 |
|
|
Retained deficit |
|
(34,667 |
) |
|
Total stockholder’s equity |
|
35,213 |
|
|
Total liabilities and stockholder’s equity |
$ |
36,638 |
|
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED JULY 31, 2016
(in thousands)
|
Revenues: |
|
|
|
|
Premiums earned |
$ |
281 |
|
|
Net investment income |
|
35 |
|
|
Total revenues |
|
316 |
|
|
Expenses: |
|
|
|
|
Underwriting expense |
|
43 |
|
|
General and administrative expenses |
|
134 |
|
|
Total expenses |
|
177 |
|
|
Income before federal income taxes |
|
139 |
|
|
Federal income tax benefit |
|
— |
|
|
Net income |
$ |
139 |
|