Ocwen, Walter win bankruptcy auction for ResCap unit

Categorized | STOP FORECLOSURE FRAUD

Ocwen, Walter win bankruptcy auction for ResCap unit

Ocwen, Walter win bankruptcy auction for ResCap unit

Reuters-

A team of Ocwen Financial Corp and Walter Investment Management Corp won a $3 billion bankruptcy auction for a unit of Residential Capital LLC that collects mortgage payments from customers, ResCap said on Wednesday.

The sale will raise money for bankrupt ResCap which is looking to repay creditors including its parent, auto lender Ally Financial Inc.

Ocwen has been serially acquiring companies that collect payments on subprime mortgages, known as servicers, as banks and private equity firms look to shed them. The businesses can bring legal headaches, but can also bring profits as the housing market recovers.

[REUTERS]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8646 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

One Response to “Ocwen, Walter win bankruptcy auction for ResCap unit”

  1. Sharon says:

    I want to see headlines that say “Ocwen locked up for fraudulent foreclosure practices and Robo-signing”. Instead they are getting bigger when they should be shut down.

Trackbacks/Pingbacks


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives