EX-12.1 2 wmih-ex121_6.htm EX-12.1

Exhibit 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED DIVIDENDS

| (dollars in thousands) |
| Six months ended June 30, 2017 |  |  | Year ended December 31, 2016 |  |  | Year ended December 31, 2015 |  |  | Year ended December 31, 2014 |  |  | Year ended December 31, 2013 |
Net (loss) income | $ | (3,535 | ) |  | $ | 201,700 |  |  | $ | (61,833 | ) |  | $ | 3,070 |  |  | $ | 338 |
Preferred deemed dividends |  | — |  |  |  | — |  |  |  | — |  |  |  | (9,455 | ) |  |  | — |
Series B preferred stock dividends |  | (9,000 | ) |  |  | (18,000 | ) |  |  | (17,748 | ) |  |  | — |  |  |  | — |
Net (loss) income attributable to common and participating stockholders | $ | (12,535 | ) |  | $ | 183,700 |  |  | $ | (79,581 | ) |  | $ | (6,385 | ) |  | $ | 338 |
Interest on runoff notes | $ | 1,209 |  |  | $ | 2,616 |  |  | $ | 3,702 |  |  | $ | 8,993 |  |  | $ | 14,897 |
Interest charges due to debt facility termination |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,232 |  |  |  | — |
Total fixed charges |  | 1,209 |  |  |  | 2,616 |  |  |  | 3,702 |  |  |  | 22,225 |  |  |  | 14,897 |
Preferred dividends |  | 9,000 |  |  |  | 18,000 |  |  |  | 17,748 |  |  |  | 9,455 |  |  |  | — |
Total fixed charges and preferred dividends | $ | 10,209 |  |  | $ | 20,616 |  |  | $ | 21,450 |  |  | $ | 31,680 |  |  | $ | 14,897 |
Ratio of net (loss) income to combined fixed charges and preferred dividends |  | (35 | %) |  |  | 978 | % |  |  | (288 | %) |  |  | 10 | % |  |  | 2 | %
Ratio of net (loss) income attributable to common and participating stockholders to combined fixed charges and preferred dividends |  | (123 | %) |  |  | 891 | % |  |  | (371 | %) |  |  | (20 | %) |  |  | 2 | %