Dec 3 Goldman Sachs is pondering the
sale of Litton Loan Servicing LP, the bank's mortgage
servicing unit that was recently caught in the home
foreclosure storm, the Financial Times said, citing people
familiar with the situation.
If the sale happens, it would spell an end to Goldman's
three-year foray into the business of collecting home loans
and foreclosing on delinquent borrowers, the newspaper said.
Goldman, which had bought Litton in 2007, has been
approached by at least one potential buyer but the talks broke
down over price and the sale is not yet imminent, the paper
However, Goldman views Litton business as only peripheral
to its core investment banking and trading services, according
to the paper.
The New York-based bank has been reviewing the practices
of Litton after regulators and state attorneys general asked
for information about its practices as part of an
industry-wide probe into the foreclosure practices of banks.
Goldman could not immediately be reached for comment by
Reuters outside regular U.S. business hours.
(Reporting by Sakthi Prasad in Bangalore; Editing by