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8-K Filing
Mr. Cooper (COOP) 8-KRegulation FD Disclosure
Filed: 10 Jul 13, 12:00am
Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF MAY 31, 2013
(in thousands, except share data)
May 31, 2013 | ||||
ASSETS | ||||
Investments held in trust, at fair value: | ||||
Fixed-maturity securities | $ | 183,995 | ||
Cash equivalents held in trust | 8,394 | |||
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Total investments held in trust | 192,389 | |||
Cash and cash equivalents | 5,137 | |||
Fixed-maturity securities, at fair value | 22,623 | |||
Accrued investment income | 1,239 | |||
Premiums receivable | 1,084 | |||
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Total assets | $ | 222,472 | ||
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LIABILITIESAND STOCKHOLDER’S EQUITY | ||||
Liabilities: | ||||
Losses and loss adjustment expenses | $ | 57,406 | ||
Losses payable | 2,886 | |||
Unearned premiums | 1,686 | |||
Accrued ceding commission expense | 113 | |||
Other liabilities | 200 | |||
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Total liabilities | 62,291 | |||
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Stockholder’s equity: | ||||
Common stock, $1 par value; 1,000 shares issued and outstanding | 1 | |||
Additional paid-in capital | 69,879 | |||
Retained earnings | 90,301 | |||
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Total stockholder’s equity | 160,181 | |||
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Total liabilities and stockholder’s equity | $ | 222,472 | ||
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WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITEDCONDENSED STATEMENTOF OPERATIONS
FOR THE MONTH ENDED MAY 31, 2013
(in thousands)
May 31, 2013 | ||||
Revenues: | ||||
Premiums earned | $ | 1,086 | ||
Net investment income | (1,386 | ) | ||
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Total revenues | (300 | ) | ||
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Expenses: | ||||
Underwriting Expenses | 87 | |||
General and administrative expenses | 192 | |||
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Total expenses | 279 | |||
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(Loss) income before federal income taxes | (579 | ) | ||
Federal income tax benefit | — | |||
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Net (loss) income | $ | (579 | ) | |
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