Wells Fargo is exploring the sale of some mortgage servicing rights because the market is flush with potential buyers and it sees little opportunity to cross-sell many servicing clients.

Chief Financial Officer Timothy Sloan said this week that now is a good time to sell because, with banks under regulatory pressure to shrink their servicing portfolios, nonbank firms are eager to grab more market share. Firms such as Walter Investment Management, Nationstar Mortgage and Ocwen Financial have been aggressively buying banks' servicing portfolios in recent quarters and all say they want to do more deals.

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