Warren Buffett's Next Big Investment Idea Has Everyone Baffled:
NEW YORK (TheStreet) -- Warren Buffett and Berkshire Hathaway aren't exactly unknowns in the business community, so it is odd that their bid for Residential Capital LLC appears to be attracting relatively little attention in the mortgage servicing industry, where ResCap is the fifth-largest player in the U.S.
Buffett seems to want to keep the low profile going. Reached on his office phone, Buffett said, "I really can't help you. Thanks anyway," before hanging up.
Servicers act as middlemen in the mortgage business, collecting payments from borrowers and passing them on to lenders. Typically, they are the first point of contact for homeowners who have an issue with their mortgage, though homeowners often don't have a very clear understanding of who servicers are or what their role is.
...
Click to view a price quote on BRK-B.
NEW YORK (TheStreet) -- Warren Buffett and Berkshire Hathaway aren't exactly unknowns in the business community, so it is odd that their bid for Residential Capital LLC appears to be attracting relatively little attention in the mortgage servicing industry, where ResCap is the fifth-largest player in the U.S.
Buffett seems to want to keep the low profile going. Reached on his office phone, Buffett said, "I really can't help you. Thanks anyway," before hanging up.
Servicers act as middlemen in the mortgage business, collecting payments from borrowers and passing them on to lenders. Typically, they are the first point of contact for homeowners who have an issue with their mortgage, though homeowners often don't have a very clear understanding of who servicers are or what their role is.
...
Click to view a price quote on BRK-B.
Comments