Goldman Mulls Sale of Litton Unit: Report

Goldman Sachs is considering a sale of its Litton Loan mortgage-servicing division, the <I>Financial Times </I> reports.
By Joseph Woelfel ,

NEW YORK (

TheStreet

) --

Goldman Sachs

(GS) - Get Report

is considering a sale of its Litton Loan mortgage-servicing division, the

Financial Times

reports.

Litton is one of many mortgage servicers to be caught up in federal investigations into foreclosure practices that used robo-signers, the

Financial Times

notes.

The sale of Litton could bring an end Goldman's three-year foray into the business of collecting home loans and foreclosing on delinquent borrowers, the newspaper says.

Goldman has been approached by at least one potential buyer, but the talks broke down over price and no sale is imminent, people familiar with the situation told the

Financial Times

.

Goldman has determined the Litton business isn't a core operation, the people said. Goldman bought Litton in December 2007.

-- Written by Joseph Woelfel

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