Many Favor GSE Fee Cut -- Except Wells

Wells Fargo Home Mortgage, the nation's second-largest servicer, is adamantly opposed to any significant cut in the minimum servicing fee charged by Fannie Mae and Freddie Mac, industry sources have told MortgageWire.The Mortgage Bankers Association held a meeting on the issue Feb. 3, with Fannie and Freddie reportedly staying neutral on whether to slash the current minimum, set at 25 basis points. But according to one participant, the Des Moines, Iowa-based WFHM made a presentation at the meeting showing that it is "significantly opposed to a cut." A spokeswoman for WFHM said the company would not be commenting on the matter. (For the complete story, see the Feb. 7 issue of National Mortgage News.)