The Prudential Insurance Co. of America announced Wednesday its intention to sell Residential Services Corp. of America, its home lending subsidiary.

Residential Services operates a mortgage bank that has $75 billion in servicing rights and was the No. 3 lender last year. The unit could fetch well in excess of $1 billion, making it the biggest sale ever for the mortgage business.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.