UPDATE: 10/26/2012, 10:00 a.m. EDT. Munger, Tolles & Olson partners Thomas Walper and Seth Goldman are advising Warren Buffett’s Berkshire Hathaway on its $1.5 billion acquisition of Residential Capital’s 47,000 loan portfolio. Buffett has been a longtime client of the firm, whose founding partner Charles Munger is a vice-chairman at Berkshire Hathaway.
A group led by mortgage servicer Ocwen Financial and advised by Mayer Brown has won an auction for the loan origination business of bankrupt mortgage lender Residential Capital with a $3 billion offer.
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