Fannie Talking to Wilshire About a Subservicing Contract

Wilshire Credit Corp., Beaverton, Ore., is talking to Fannie Mae about becoming a "force-placed" servicer for the GSE, according to investment banking sources familiar with the situation. A Fannie Mae official had no comment and Wilshire did not return a telephone call about the matter. A source close to the situation noted that Fannie is talking to IBM - which recently bought Wilshire's operating assets - about a contract of some type but declined to elaborate. IBM bought Wilshire from Bank of America in October. Merrill Lynch, now a part of BoA, bought Wilshire earlier in the decade.

Processing Content

For reprint and licensing requests for this article, click here.
Servicing
MORE FROM NATIONAL MORTGAGE NEWS
Load More