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"Price matters," says Nationstar (NSM -12.4%) CEO Jay Bray, explaining why he pulled the company...

"Price matters," says Nationstar (NSM -12.4%) CEO Jay Bray, explaining why he pulled the company out of the bidding for ResCap's mortgage portfolio. As the "stalking-horse" bidder, Nationstar is entitled to a break-up fee, but it's unclear how much this is. Meanwhile, Ocwen Financial (OCN), the winner, has given up its 10% spike and now trades flat amidst ideas it overpaid.
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  • 166649
    , contributor
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    Analyst believes this is a positive for OCN as it can still make money with a $3 bln price tag; positive for WAC;

     

    believes PHH the big winner; NSM loses in the deal
    24 Oct 2012, 01:14 PM Reply Like
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