People familiar with the matter said that Nationstar Mortgage Holdings Inc. submitted a $2.67 billion bid to acquire mortgage assets of Residential Capital, LLC (ResCap). Nationstar Mortgage's bid reportedly topped Ocwen Financial Corp.'s $2.65 billion bid for ResCap. According to a person familiar with the matter, Nationstar had earlier bid $2.64 billion for the potential acquisition.

The auction started on October 23, 2012 and it might last multiple days. The companies are competing for ResCap's mortgage-servicing and origination platform including the rights to service 2.4 million mortgages that account for $374 billion in unpaid balances. The people said that only two bidders are left in the competition for acquiring the assets.