Is Warren Buffett Backing out of Mortgages?

In a month Residential Capital Corp. will auction off its massive $360 billion residential servicing portfolio but will Warren Buffett and Berkshire Hathaway be at the bidding table? It’s hard to say since Berkshire isn’t exactly sharing its strategy with members of the media, including this editor. Still, there is talk that Buffett is no longer interested and one rumor making the rounds suggests that he never was. Instead the firm made some inquires regarding the bankrupt ResCap, hoping that such news might increase the value of certain bonds tied to Ally/ResCap. It’s just talk though -- and as the old saying goes: talk is cheap.