Wells Fargo Tops $2 Trillion in Mortgage Servicing Rights

$2,000,000,000,000; that’s a lot of dough!

When Wells Fargo acquired Wachovia they snared an additional $379B in servicing rights bringing their total servicing portfolio to $2.1T.

Some of the loans are floundering (~4% of prime loans are delinquent) and foreclosures are rising to problematic levels (~1.5%) but, so far, Wells seems to be managing the portfolio very well. Wall Street and the world will continue to watch this situation closely.

Wells also recently reported more than $70B (a new record for them) worth of mortgage applications in the pipeline. Nice. We should start seeing those close in March ’09.

Commercial Mortgage LoansMasterPlan Capital LLC – Equity Financing – Asset Management – Easy Application – Prompt Professional Service

Advertisements

Tags: , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: