Nationstar, which recently sold stock to the public, is continuing negotiations to buy Residential Capital Corp./GMAC from Ally Financial through a prepackaged bankruptcy agreement, according to industry advisors briefed on the plan.

If the deal comes off, Nationstar would gain $382 billion of mortgage servicing rights, giving it close to $500 billion of residential receivables. At that point it would rank fifth among all servicers behind Wells Fargo, Bank of America, Chase and Citigroup, according to figures compiled by National Mortgage News and the Quarterly Data Report.

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