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.
