Warren Buffett is in talks to buy Residential Capital — which controls Costa Mesa-based Ditech.com — from GMAC, the New York Post reported just before the holidays.
National Mortgage News ran a more recent story on ResCap, saying the Buffett deal is a likely scenario for the troubled company, which is the fifth largest loan servicer with a $380 billion portfolio.
Kate Berry, reporting for NMN and American Banker, writes that the biggest loan servicers have their own problems — lots of dud loans and pressure from the Obama administration to help homeowners — and are unlikely to take on ResCap.
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