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

|About: Nationstar Mortgage Hold... (NSM)|By:, SA News Editor

"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.