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As attendees from the MBA’s servicing conference headed home this week, they may have learned that some airport lounges are cutting back on free guests. Some of those attendees work for depository banks, and they are in flux when it comes to servicing portfolios: Certainly reports of the majority of them shedding servicing are erroneous. Reports have Mr. Cooper, Nationstar, Chase, PNC, 5 3, all increasing their servicing portfolios. Other trends being discussed in the hallways at the conference include an increased scrutiny of regulators and auditors of the fair value of servicing, and counterparty financial strength of servicing sellers declining. Certainly, one topic is Wells Fargo’s shift in residential mortgages: Will its servicing hit the market in one big chunk? The general consensus is “probably not” and that Wells will sell its Ginnie portfolio (FHA, VA) and delinquent loans to reduce servicing costs. $400 billion of whole loans. Wells is not in any

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