Morning Scan: Wells Sells Servicing Rights; Getting Tough on Foreign...

Receiving Wide Coverage ...

Sold: Wells Fargo is selling the mortgage servicing rights on $39 billion in loans to Ocwen Financial Corp. Terms of the deal were not disclosed. The move is par for the course these days as more and more large traditional banks offload mortgages to nonbank lenders to comply with new rules requiring them to hold more capital against the loans they service. Wall Street Journal, New York Times ...