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, 2016

(in thousands, except share data)

 

 

ASSETS

 

Investments held in trust, at fair value:

 

 

 

Fixed-maturity securities

$

29,495

 

Cash equivalents held in trust

 

2,329

 

Total investments held in trust

 

31,824

 

Cash and cash equivalents

 

405

 

Fixed-maturity securities, at fair value

 

2,979

 

Accrued investment income

 

252

 

Premiums receivable

 

260

 

Total assets

$

35,720

 

 

 

 

 

LIABILITIES AND STOCKHOLDER’S EQUITY

 

Liabilities:

 

 

 

Losses and loss adjustment expenses

$

576

 

Losses payable

 

10

 

Unearned premiums

 

298

 

Accrued ceding commission expense

 

25

 

Other liabilities

 

134

 

Total liabilities

 

1,043

 

Stockholder’s equity:

 

 

 

Common stock, $1 par value; 1,000 shares issued and outstanding

 

1

 

Additional paid-in capital

 

69,879

 

Retained deficit

 

(35,203

)

Total stockholder’s equity

 

34,677

 

Total liabilities and stockholder’s equity

$

35,720

 

 


WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED SEPTEMBER 30, 2016

(in thousands)

 

Revenues:

 

 

 

Premiums earned

$

266

 

Net investment income

 

13

 

Total revenues

 

279

 

Expenses:

 

 

 

Underwriting expense

 

30

 

General and administrative expenses

 

134

 

Total expenses

 

164

 

Income before federal income taxes

 

115

 

Federal income tax benefit

 

 

Net income

$

115