Ocwen Financial and Fortress Investment Group have emerged as the leading bidders in an auction for bankrupt Residential Capital’s $200 billion mortgage servicing portfolio scheduled for today, the New York Post reported. ResCap, which is owned by Ally Financial, filed for bankruptcy protection in May, saying it would sell most of its assets to Fortress. But Ocwen has taken steps to ensure it is a more attractive bidder after Fannie Mae – which owns 15 [more]
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