Nationstar Mortgage bid roughly $2.907 billion for the origination and servicing assets of Residential Capital Corp. (ResCap), about $93 million shy of the top bid placed by Ocwen Financial and its partner Walter Investment Management Corp., according to a memo on the deal provided to ASR sister publication National Mortgage News.

The email, written by ResCap management and sent to employees, noted that Nationstar's bid remains in place for 30 days should something change in regard to Ocwen's offer.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.