BlackRock to buy a mortgage servicer

We've noted that there may be some buyer's remorse at the many Wall Street powers that purchased subprime mortgage operations. Merrill Lynch (First Franklin) and Morgan Stanley (Saxon Capital) are in that category. Another way of looking at it: the actual remorse may ultimately stem not from the actual deal but from the price paid. Many were bought when values where high, reflecting a hot industry. Post-implosion, the strategy behind the deals remains sound as long as the subprime industry makes a comeback, which many expect. BlackRock in fact is the latest to take a serious look at the mortgage servicing business. Seems like a pretty savvy move.   

For more on BlackRock:
- here's a Financial News Online article