Subsequent Events

6 Months Ended

Jun. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

Note 14: Subsequent Events

On July 5, 2018, the State of Hawaii Insurance Division approved a transfer of up to $11.1 million from WMMRC to WMIH.  On July 10, 2018 WMMRC declared and paid a dividend of $10.4 million to WMIH, and such funds are available for general corporate purposes.

On July 13, 2018, Merger Sub closed the previously announced Offering of Notes. The proceeds of $1.7 billion from the Offering were deposited into escrow, which upon release will be used, together with the issuance of WMIH’s common stock and WMIH’s cash and restricted cash on hand, to consummate the Nationstar Transaction and the refinancing of certain of Nationstar’s existing debt and to pay related fees and expenses or otherwise in accordance with the terms of the escrow agreement, dated as of July 13, 2018, among Merger Sub, Wells Fargo Bank, National Association, as trustee, and Wells Fargo Bank, National Association, as escrow agent. For additional information on the Offering, see Note 1: The Company and its Subsidiaries.