Despite an increase in primary market mortgage rates during the third quarter of 2013, banks and thrifts were cautious in raising the valuations they placed on their mortgage servicing rights, according to a new Inside Mortgage Trends analysis of call-report data. Banks and thrifts serviced $4.770 trillion in mortgages for the benefit of other investors, typically as a result of securitization. As an industry, they assigned a fair-market value of $48.4 billion for these assets ... [Includes one data chart]