The US Bankruptcy Court gave an order approving the sale of certain assets of Residential Capital, LLC on November 21, 2012. The debtor has been authorized to sell its mortgage servicing and origination platform assets to Ocwen Loan Servicing, LLC and Walter Investment Management Corporation the winning bidder for a purchase price of $3 billion. The sale of the assets, subject to satisfaction of customary closing conditions including certain third party consents, is expected to close in the first quarter of 2013.