Wells Fargo is no longer in love with the mortgage business. We all know that, but is the bank contemplating large-scale sales of its massive MSR portfolio? Not likely.
Earnings season has arrived for the largest publicly traded depositories. Included in the results: home lending, where a brutal correction continues and depositories are rethinking their roles.
The regulator of Fannie and Freddie wants the enterprises to pay close attention to the asset values their customers are placing on their MSR portfolios. Meanwhile, the mortgage company IPO market is dead. Right?