DES MOINES - After months of rumors that Wells Fargo Home Mortgage may acquire GE Capital Mortgage Services or enter a subservicing agreement, the two companies acknowledged Monday that they are negotiating.

"We are in discussions with GE Capital about a possible transaction, and we're making progress in these discussions," a spokesman for the Wells unit said. "We hope to reach an agreement in the near future, but there is no assurance that there will be a definitive agreement."

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