Most big lenders are proceeding as if new capital rules will inevitably force them to shrink their mortgage servicing rights, with a notable exception: Wells Fargo.

The nation’s largest home lender has been widening its lead over the other giant originators, keeping it flush with assets that represent the income stream for handling remittances from homeowners. Such claims equaled about 14% of the Tier 1 common equity Wells estimated it had under the Basel III rules as of the fourth quarter. That would run afoul of the 10% cap that would be phased in under the international capital accord.

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