Residential Capital LLC (ResCap) received approval of the sale of the bankrupt company’s mortgage servicing and origination platform assets to Ocwen Loan Servicing LLC and Walter Investment Management Corporation Nov. 21 in the U.S. Bankruptcy Court for the Southern District of New York (In re Residential Capital LLC, Bankr. S.D.N.Y., No. 12-12020 (MG)).
The court also approved the sale of ResCap’s whole loan portfolio to Berkshire Hathaway.
‘Smooth Transition’ for Homeowners.
The joint bid from Ocwen and Walter is a total purchase price of $3 billion, while the bid from Berkshire Hathaway is a purchase price of $1.5 ...
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