ResCap Auction Is Key for Servicer Supremacy

Nationstar Mortgage Holdings Inc. and Ocwen Financial Corp., which have seen their share prices more than double this year, are battling to become the largest non-bank home-loan servicers in a consolidating industry.

They’ll resume bidding today in a bankruptcy auction in a midtown Manhattan hotel for Residential Capital LLC’s loan- servicing unit after trading competing offers in a session that lasted into the evening. Warren Buffett’s Berkshire Hathaway Inc. didn’t participate after losing the lead bidder role to Nationstar, whose stalking horse bid was about $2.3 billion.

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