Temple-Inland has announced that its wholly owned subsidiary Guaranty Residential Lending, Austin, Texas, plans to sell its third-party mortgage servicing portfolio."The sale of this asset will further reduce costs, earnings volatility, and exposure to changing market conditions," Temple-Inland said. The parent company said it does not expect the sale of mortgage servicing rights to have a significant effect on its earnings. Temple-Inland, a manufacturer of corrugated packaging and building products with a diversified financial services operation, can be found on the Web at http://www.templeinland.com.
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