North American Mortgage Co. says it has been selling servicing on some of its new loans for as much as 180 basis points.

To anybody who cut their teeth in the mortgage business when 100 or 125 points was the standard price for portfolios of 30-year fixed loans, 180 points may seem astounding; servicing on a typical loan of $100,000 would fetch $1,800 up front, a pretty good balm for thin profit margins on loan originations.

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