Wells Fargo is contemplating selling some of its massive $1.906 trillion residential servicing portfolio while maintain a subservicing relationship with the end consumer.
David Schneider, CEO of Vericrest Financial, a fast growing servicer that is rumored to be a bidder on Ally Financials $122 billion of mortgage servicing rights, has left the company, sources familiar with the situation told Inside Mortgage Finance. Schneider could not be reached for comment at deadline. A spokeswoman for the company would not comment on the situation but would not deny his departure either. Schneider has been building bridges in the servicing community