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 MARCH 31, 2017

(in thousands, except share data)

ASSETS
Investments held in trust, at fair value:
Fixed-maturity securities	$	27,158
Cash equivalents held in trust		3,205
Total investments held in trust		30,363
Cash and cash equivalents		433
Fixed-maturity securities, at fair value		2,135
Accrued investment income		204
Premiums receivable		140
Total assets	$	33,275
LIABILITIES AND STOCKHOLDER’S EQUITY
Liabilities:
Losses and loss adjustment expenses	$	202
Unearned premiums		45
Accrued ceding commission expense		16
Other liabilities		186
Total liabilities		449
Stockholder’s equity:
Common stock, $1 par value; 1,000 shares issued and outstanding		1
Additional paid-in capital		69,879
Retained deficit		(37,054	)
Total stockholder’s equity		32,826
Total liabilities and stockholder’s equity	$	33,275

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED MARCH 31, 2017

(in thousands)

Revenues:
Premiums earned	$	134
Net investment income		29
Total revenues		163
Expenses:
Underwriting expense		24
General and administrative expenses		201
Total expenses		225
Loss before federal income taxes		(62	)
Federal income tax expense		—
Net loss	$	(62	)