Fannie Mae and Freddie Mac are both working on upgrades to the servicing marketplaces they operate that facilitate the sale of flow servicing rights into the secondary market. The goal is to make the MSR sales process quicker, seamless and more transparent – and at no cost to the loan seller. On the surface it all sounds good, but a handful of investment banking executives told Inside The GSEs they’re worried about the future direction of the servicing marketplaces and want to make sure they don’t encroach on their turf. None of the firms that broker the sale of MSR were willing to go on the record regarding their gripes.