ResCap Auction Ends With Fannie Intrigue, Claims From Competitor of Overpayment
November 1, 2012
An auction last week for about $374.0 billion in mortgage servicing and the origination platform of bankrupt Residential Capital ended with Ocwen Financial and Walter Investment Management as joint winners along with some drama. Walter appears to have been brought into Ocwens bid due to concerns about offshore servicing, while Nationstar Mortgage, the loser in the auction, claims the firms paid too much for the assets. Special servicers Ocwen and Walter won...