Attached files
file | filename |
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8-K - 8-K - Mr. Cooper Group Inc. | d518914d8k.htm |
Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF FEBRUARY 28, 2013
(in thousands, except share data)
February 28, 2013 |
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ASSETS | ||||
Investments held in trust, at fair value: |
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Fixed-maturity securities |
$ | 197,952 | ||
Cash equivalents held in trust |
17,333 | |||
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Total investments held in trust |
215,285 | |||
Cash and cash equivalents |
4,169 | |||
Fixed-maturity securities, at fair value |
13,187 | |||
Accrued investment income |
1,516 | |||
Premiums receivable |
1,146 | |||
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Total assets |
$ | 235,303 | ||
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LIABILITIES AND STOCKHOLDERS EQUITY | ||||
Liabilities: |
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Losses and loss adjustment expenses |
$ | 65,381 | ||
Contingency reserve |
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Losses payable |
2,574 | |||
Unearned premiums |
202 | |||
Accrued ceding commission expense |
120 | |||
Other liabilities |
353 | |||
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Total liabilities |
68,630 | |||
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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 | |||
Contingency reserve |
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Retained earnings |
96,793 | |||
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Total stockholders equity |
166,673 | |||
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Total liabilities and stockholders equity |
$ | 235,303 | ||
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WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED FEBRUARY 28, 2013
(in thousands)
February 28, 2013 |
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Revenues: |
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Premiums earned |
$ | 1,100 | ||
Net investment income |
917 | |||
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Total revenues |
2,017 | |||
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Expenses: |
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Underwriting expenses |
1,147 | |||
General and administrative expenses |
254 | |||
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Total expenses |
1,401 | |||
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(Loss) income before federal income taxes |
616 | |||
Federal income tax benefit |
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Net (loss) income |
$ | 616 | ||
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