Ocwen Financial Corp. and Walter Investment Management Corp. yesterday prevailed in a bankruptcy auction for Residential Capital LLC's mortgage servicing business with a $3 billion bid that topped rival Nationstar Mortgage Holdings Inc., Reuters reported yesterday. Ocwen and Walter teamed up to buy ResCap's mortgage servicing operation that handles payments for 2.4 million home loans with a balance of about $374 billion. ResCap, once a major subprime lender, also has a mortgage lending operation.
