Finance company Contifinancial Corp. said Wednesday that it is still negotiating with Residential Funding Corp. and that it is postponing the filing of its annual report for 15 days.

Contifinancial said on May 19 that RFC, a division of General Motors Corp., had expressed interest in buying it. The finance company's stock has fallen more than 50% since then on speculation that the deal has fallen through.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.