Wells Fargo & Co. (NYSE:WFC): Current price $35.36
The firm is said to nearing the point of selling mortgage servicing rights, says Compass Point Research & Trading Group, quoting Inside Mortgage Finance. This implies that Wells Fargo would retain contact with its customers contact sub-servicing arrangement. Compass Point commented that, “Special servicers provide the operational expertise to physically service mortgages. Wells Fargo wants to maintain the sub-servicing of the mortgage in order to preserve the relationship with the borrower. However, the MSR asset would be sold to another party in order to provide capital relief to WFC under Basel III.”
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