Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Mr. Cooper Group Inc. | wmih-8k_20160531.htm |
Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF MAY 31, 2016
(in thousands, except share data)
|
ASSETS |
|
||
|
Investments held in trust, at fair value: |
|
|
|
|
Fixed-maturity securities |
$ |
29,220 |
|
|
Cash equivalents held in trust |
|
3,140 |
|
|
Total investments held in trust |
|
32,360 |
|
|
Cash and cash equivalents |
|
269 |
|
|
Fixed-maturity securities, at fair value |
|
3,554 |
|
|
Accrued investment income |
|
171 |
|
|
Prepaid expenses |
|
7 |
|
|
Premiums receivable |
|
294 |
|
|
Total assets |
$ |
36,655 |
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDER’S EQUITY |
|
||
|
Liabilities: |
|
|
|
|
Losses and loss adjustment expenses |
$ |
1,017 |
|
|
Losses payable |
|
15 |
|
|
Unearned premiums |
|
478 |
|
|
Accrued ceding commission expense |
|
26 |
|
|
Other liabilities |
|
131 |
|
|
Total liabilities |
|
1,667 |
|
|
Stockholder’s equity: |
|
|
|
|
Common stock, $1 par value; 1,000 shares issued and outstanding |
|
1 |
|
|
Additional paid-in capital |
|
69,879 |
|
|
Retained deficit |
|
(34,892 |
) |
|
Total stockholder’s equity |
|
34,988 |
|
|
Total liabilities and stockholder’s equity |
$ |
36,655 |
|
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED MAY 31, 2016
(in thousands)
|
Revenues: |
|
|
|
|
Premiums earned |
$ |
299 |
|
|
Net investment loss |
|
(2 |
) |
|
Total revenues |
|
297 |
|
|
Expenses: |
|
|
|
|
Underwriting expense |
|
30 |
|
|
General and administrative expenses |
|
140 |
|
|
Total expenses |
|
170 |
|
|
Income before federal income taxes |
|
127 |
|
|
Federal income tax benefit |
|
— |
|
|
Net income |
$ |
127 |
|