- Wells Fargo (WFC -0.6%) is looking to sell mortgage servicing rights on $41B of loans, reports Bloomberg.
- Likely buyers would seemingly include specialty mortgage servicers like Ocwen (NYSE:OCN), Nationstar (NYSE:NSM), and New Residential (NYSE:NRZ).
- Banks have been unloading mortgage servicing rights as new capital rules make them too expensive to hold. Specialty servicers like those mentioned above have been happy buyers. For Wells, the move would free up capital, as well as provide an opportunity to book profits to offset the big slowdown in its mortgage origination business.