The cost to insure the debt of Countrywide Financial Corp. unit Countrywide Home Loans fell on Tuesday after The Wall Street Journal reported that some investors are speculating billionaire investor Warren Buffett may buy parts of Countrywide Financial.

Credit default swap spreads on Countrywide Home Loans narrowed to about 397 basis points, down from about 460 basis points on Monday, according to data from CMA DataVision.

Citing unnamed investors, the Journal reported that Countrywide's debt-servicing business and its portfolio of mortgages and mortgage-backed securities may be attractive to Buffett.