Should Ally Financial break itself up, Ocwen Financial Corp. and private-equity shops might be interested in Ally's mortgaging servicing arm, Residential Capital, which has mortgage servicing rights of $1.2 billion on mostly impaired loans, Keefe, Bruyette & Woods (KBW) analysts wrote in a research note last week.

The analysts' commentary comes after earlier reports that Ally was weighing selling some or all of itself due to problems executing a planned $6 billion initial public offering.

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