Ocwen Financial Corp. and another company are competing for a $122 billion mortgage-servicing portfolio being sold by Ally Financial Inc.'s bank, a person familiar with the matter said Thursday.

Ocwen and the other company are "neck and neck" in bidding on the portfolio, this person said.

It wasn't immediately clear who the other bidder is, though the person familiar with the matter said it isn't Nationstar Holdings Inc. or Walter Investment Management Corp., two other companies that recently have acquired servicing portfolios from banks.