My understanding is they do not have to take the lowest bid. I think the bids have been opened and now they are in an evaluation period. Could be that NSM had the lowest bid or that they were close enough in the bids that a closer look was needed. This may be one of those things where they take the numbers in consideration and will make a decision at a later date. Heaven forbid. I have been there and that is not a fun time if it takes more than a day or two. After 3 of these I never bid on a Federal or State project again. I knew better, but like a little child you have to get spanked a couple of times before you learn your lesson.
One article I read stated that after the auction, the winning bid would have to be approved by the BK judge SOMETIME IN NOV. that applied to both the MSRs and the mortgage portfolio. It's fun try to put the pieces together (OCWEN, stock movements, etc) to determine the outcome. We know a secondary offering is coming (if we win), just how much is the question.
I think NSM is going to win this. My theory on why NCT is down big is because it's probably going to cost more than they were originially hoping for which means NCT is going to have to do another SO to cover their share.