Rising rates may signal better footing in the market for mortgage servicing rights, if a recent proposed sale involving $5.4 billion of mortgages is any indication.Phoenix Capital, Denver, is representing Ohio Savings Bank in the sale of servicing rights on $5.4 billion of fixed-rate Fannie Mae loans. The bulk portfolio consists of newly originated loans with 30-year and 15-year weighted average note rates of 5.90% and 5.14%, respectively. The average loan balance is $167,655. Phoenix said it has traded servicing rights on about $40 billion of loans since January.
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