Items Tagged with 'Litton Loan Servicing LP'


  • Litton Gets Alt-A Servicer Rating from Fitch

    When firms like Litton Loan Servicing, LP begin getting rated for Alt-A servicing, you just know there's trouble in the sector: Fitch Ratings said earlier this week that it had assigned the Houston-based servicing platform for Alt-A products at RPS1, the agency's highest rating for any servicer.
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  • Fremont Completes Servicing Sale to Litton

    Troubled S&L Fremont Investment & Loan said Tuesday that it had completed the sale of its remaining mortgage servicing rights to Litton Loan Servicing LP, an affiliate of Goldman, Sachs & Co [stock GS][/stock]. The sale of the $12.2 billion servicing portfolio was first announced on May 9.
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  • Litton Picks Up Rest of Fremont's Servicing Portfolio; Bankruptcy May be Next

    Late Thursday, Fremont General Corp. said that it had agreed to sell its remaining $12.2 billion servicing portfolio to Litton Loan Servicing LP, a well-known subprime and scratch-and-dent mortgage servicer. The sale represents a coup of sorts for Goldman Sachs [stock GS][/stock], which picked up Litton from the rubble of former scratch-and-dent giant Credit-Based Asset Servicing and Securitization late last year.
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  • Goldman Sachs Mortgage Chief Quits

    The head of Goldman Sachs Group Inc.'s [stock GS][/stock] mortgage department unexpectedly quit on Friday, according to a report in the Wall Street Journal. Dan Sparks, who has been in the driver's seat at the Wall Street firm for roughly a year and a half but at Goldman for nearly 20 years, allegedly is "looking to do something different," the WSJ said, citing an unnamed source.
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  • Update: Goldman Sachs Takes Lead in Potential Deal for Litton Loan Servicing

    Bloomberg is reporting tonight that Fannie Mae is no longer pursuing Litton Loan Servicing, the special servicing arm associated with troubled scratch-and-dent operation C-BASS. Instead, it now appears that Goldman Sachs will be the latest Wall Street investment bank to own its own servicing shop: Goldman Sachs Group Inc. may buy Litton Loan Servicing LP, the Houston-based servicer of U.S. subprime mortgages, said people with knowledge of the matter ...
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