Ocwen Financial (OCN +2.2%
) reportedly wins the bidding for ResCap's mortgage servicing assets, bidding $3B vs. Nationstar's (NSM -14%
) $2.3B. Walter Investment (WAC +5.3%
), presumably a partner of Ocwen in the deal, also flies higher. A breakeven price had been assumed to be in the $2.7B area. Has Ocwen overpaid?