Goldman Sachs Readies Litton Loan Servicing Acquisition

According to reports from Dow Jones, subprime investor Credit-Based Asset Servicing & Securitization LLC (C-BASS) is poised to sell its Litton Loan Servicing mortgage servicing unit to Goldman Sachs Group Inc.

Goldman Sachs currently owns Avelo Mortgage LLC, a much smaller servicing firm that operates under its Archon Group LP unit.

The prospective acquisition comes on the heels of news regarding Fannie Mae's interest in buying Texas-based Litton Loan Servicing. According to Dow Jones, the GSE is no longer pursuing the deal.

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