Walter Investment Management agreed to acquire all of Residential Capital‘s Fannie Mae mortgage servicing rights, and related advances for $540 million according to a filing with the Securities & Exchange Commission.

Ocwen Financial put up the rest of the total $3 billion winning bid.

The joint bid beat out Nationstar Mortgage Holdings. Walter and Ocwen were determined at an auction sponsored by the US Bankruptcy Court to have submitted the highest and best bid to acquire the mortgage servicing and origination and capital markets platforms of ResCap, according to the SEC filing.

The assets to be acquired include approximately $50.4 billion of Fannie Mae MSRs, $183 million of related advances, and the ResCap originations and capital markets platforms.

jgaffney@housingwire.com

Most Popular Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By

Latest Articles

Foreclosures rose in October, but are still down for the year

Foreclosures rose 13% in October from September, a new foreclosure market report from ATTOM Data Solutions said. Although foreclosures went up in October over the previous month, they were down 17% from a year ago.

Nov 14, 2019 By