Reuters - Nationstar, Ocwen and Walter Fight Over ResCap

Ocwen Financial Corp and Walter Investment Management Corp have teamed up to top Nationstar Mortgage Holdings starting bid for Residential Capital LLC's mortgage business, ensuring a bankruptcy auction goes ahead next week, writes Reuters. Several other potential buyers that have shown interest in the business, including private equity firm Blackstone Group and technology company IBM Corp, were not expected to submit offers, writes Reuters, potentially leaving Nationstar and the Ocwen-Walter group as the main contenders.

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