Attached files
file | filename |
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8-K - FORM 8-K - Mr. Cooper Group Inc. | d534146d8k.htm |
Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF MARCH 31, 2013
(in thousands, except share data)
March 31, 2013 | ||||
ASSETS | ||||
Investments held in trust, at fair value: |
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Fixed-maturity securities |
$ | 197,948 | ||
Cash equivalents held in trust |
15,879 | |||
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Total investments held in trust |
213,827 | |||
Cash and cash equivalents |
6,878 | |||
Fixed-maturity securities, at fair value |
10,143 | |||
Accrued investment income |
1,398 | |||
Premiums receivable |
1,117 | |||
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Total assets |
$ | 233,363 | ||
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LIABILITIES AND STOCKHOLDERS EQUITY | ||||
Liabilities: |
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Losses and loss adjustment expenses |
$ | 63,346 | ||
Contingency reserve |
37,878 | |||
Losses payable |
2,384 | |||
Unearned premiums |
194 | |||
Accrued ceding commission expense |
118 | |||
Other liabilities |
222 | |||
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Total liabilities |
104,142 | |||
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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 |
(37,878 | ) | ||
Retained earnings |
97,219 | |||
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Total stockholders equity |
129,221 | |||
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Total liabilities and stockholders equity |
$ | 233,363 | ||
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WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED MARCH 31, 2013
(in thousands)
March 31, 2013 | ||||
Revenues: |
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Premiums earned |
$ | 1,078 | ||
Net investment income |
13 | |||
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Total revenues |
1,091 | |||
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Expenses: |
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Underwriting Expenses |
467 | |||
General and administrative expenses |
198 | |||
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Total expenses |
665 | |||
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(Loss) income before federal income taxes |
426 | |||
Federal income tax benefit |
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Net (loss) income |
$ | 426 | ||
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