When mortgage bankers think of megabanks selling MSRs, Wells Fargo comes to mind. But U.S. Bank is selling servicing rights as well. Its latest sale: a $15 billion package of GSE rights.
Originators hate rising interest rates for the impact it has on production, but owners of servicing rights and their dealmakers couldn’t be happier. One benefit in today’s market: MSR bid prices are strong.
It’s status quo when it comes to mortgage banking M&A activity — and that’s not a good thing if you’re looking to sell. For now, it’s all about asset sales, mortgage servicing rights in particular.