Nationstar Mortgage Holdings Inc and a consortium of Ocwen Financial Corp and Walter Investment Management Corp are expected to make offers for Residential Capital LLC's mortgage business in a bankruptcy auction that begins next week, sources familiar with the situation said.Nationstar, a mortgage servicer majority-owned by Fortress Investment Group LLC, is the starting bidder for the mortgage business at $2.45 billion. Ocwen, another growing servicer, is teaming up with Walter for its offer, the sources said.ResCap, the mortgage unit of auto lender Ally Financial Inc, filed for bankruptcy in May in an effort to wipe out legal liabilities from mortgage-backed securities it sold during the housing boom.Bids are due by the end of business Friday for ResCap's mortgage platform as well as a portfolio of loans. The private auction begins Tuesday at a New York hotel.
Fortress Investment Group LLC (Fortress) is a global investment management firm. Shares of FIG fell by 3.2% or $-0.15/share to $4.54. In the past year, the shares have traded as low as $2.86 and as high as $4.72. On average, 765675 shares of FIG exchange hands on a given day and today's volume is recorded at 645030.
Nationstar Mortgage Holdings Inc. is a non-bank residential mortgage servicer with a range of services across the residential mortgage product spectrum. Shares of NSM fell by 3.32% or $-1.12/share to $32.58. In the past year, the shares have traded as low as $13.00 and as high as $37.20. On average, 1085760 shares of NSM exchange hands on a given day and today's volume is recorded at 610115.
Ocwen Financial Corporation (Ocwen), through its subsidiaries, is a provider of residential and commercial mortgage loan servicing, special servicing and asset management services. Shares of OCN fell by 1.0% or $-0.36/share to $35.70. In the past year, the shares have traded as low as $12.71 and as high as $37.92. On average, 1939930 shares of OCN exchange hands on a given day and today's volume is recorded at 1917005.
Walter Investment Management Corp., together with its subsidiaries, is a fee-based business services provider to the residential mortgage industry. Shares of WAC fell by 2.75% or $-1.17/share to $41.34. In the past year, the shares have traded as low as $17.87 and as high as $44.12. On average, 414135 shares of WAC exchange hands on a given day and today's volume is recorded at 1480638.
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