Lender Flagstar Bancorp is reportedly considering the sale of $70 billion in mortgage servicing rights.
Bloomberg reported on the possible deal this week:
Flagstar Bancorp Inc. (FBC), the Michigan lender rescued by MatlinPatterson Global Advisers LLC in 2009, is considering a sale of the collection rights on more than $70 billion in mortgages, people with knowledge of the matter said.
Flagstar interviewed banks in recent weeks to manage the sale of its so-called mortgage-servicing rights because of new rules that make them costlier to own, said the people, who asked not to be identified because the matter is private. The talks were preliminary and Flagstar hasn’t hired an adviser, one person said.