Relevant:
- UPDATE 4-Ocwen, Walter win bankruptcy auction for ResCap unit
- Ocwen, Centerbridge eye ResCap
- ResCap/Ally Will Settle With Fed Over Foreclosure Reviews
- Hedgie who owns debt in ResCap asking political rival for help keeping lender out of bankruptcy
- Analysis: ResCap bidders line up for rare subprime mortgage sale
2012-11-09 — nasdaq.com
``The mortgage-industry settlement contained provisions meant to ensure that if a distressed servicer was forced to sell its assets in bankruptcy, as ResCap ultimately was, a buyer would be bound to the terms of the settlement, according to papers filed by lawyers for the U.S. this week.
In the template deal for its bankruptcy auction, however, ResCap proposed to take its buyer off the hook for some of the industry cleanup provisions. That deal was with Nationstar Mortgage Holdings Inc. (NSM), which ultimately lost to Ocwen at a bankruptcy auction.''
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.