Cendant’s Efforts to Sell Mortgage Banking Unit Fizzle: Was Countrywide a Likely Suitor?
September 2, 2004
Cendant Corp. announced that six weeks of talks with a potential buyer for its mortgage banking operation have come to naught, and the firm will continue to consider new proposals and alternative strategies. Countrywide Financial was widely considered to be the unnamed party in negotiations to acquire Cendant Mortgage. The company represents one of the bigger potential mortgage banking acquisitions to come along in some time – a $144.3 billion servicing platform that ranked 10th in