Ocwen Financial Corp. is still planning to bid for for Residential Capital, LLC's (ResCap) business at the bankruptcy auction. Paul Koches, General Counsel for Ocwen said, "We remain interested in the opportunity." Potential buyers interested in the mortgage assets of ResCap will bid at the auction on October 23, 2012.

Ocwen will have to out bid Nationstar Mortgage Holdings Inc., which is the lead bidder for the assets with a bid worth about $2.5 billion. The New York Post reported that Ocwen was partnering with Walter Investment Management Corp. to make a bid worth $2.5 billion for ResCap's assets.

Dow Jones said that Koches, a spokeswoman for Walter Investment and a spokeswoman for ResCap did not make any comments on the matter.