The auction process for the government-controlled Residential Capital Corp. (ResCap) could last for up to five days with the bankruptcy court not approving a winning bidder for almost a month, which could come on Nov. 19, according to a new report from Sterne Agee.

In its research note, Sterne Agee analysts Henry Coffey, Jason Weaver and Calvin Hotrum write that a “hard look at the data” suggests that “none of the major bidders” hold a material advantage. (The official bid date is Oct. 23.)

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.