EX-99.1 2 wmih-ex991_6.htm EX-99.1

wmih-ex991_6.htm

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF SEPTEMBER 30, 2015

(in thousands, except share data)

ASSETS
Investments held in trust, at fair value:
Fixed-maturity securities	$	32,140
Cash equivalents held in trust		5,353
Total investments held in trust		37,493
Cash and cash equivalents		8,216
Fixed-maturity securities, at fair value		4,978
Accrued investment income		283
Prepaid expenses		5
Premiums receivable		376
Total assets	$	51,351
LIABILITIES AND STOCKHOLDER’S EQUITY
Liabilities:
Losses and loss adjustment expenses	$	4,506
Losses payable		146
Unearned premiums		836
Accrued ceding commission expense		36
Other liabilities		141
Total liabilities		5,665
Stockholder’s equity:
Common stock, $1 par value; 1,000 shares issued and outstanding		1
Additional paid-in capital		69,879
Retained (deficit) earnings		(24,194	)
Total stockholder’s equity		45,686
Total liabilities and stockholder’s equity	$	51,351

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED SEPTEMBER 30, 2015

(in thousands)

Revenues:
Premiums earned	$	396
Net investment income		115
Total revenues		511
Expenses:
Underwriting (benefit) expense		(135	)
General and administrative expense		150
Total expenses		15
Income before federal income taxes		496
Income tax benefit		—
Net income	$	496