Normally, mortgage servicing rights would be a cherished asset in a market like this.

Servicing rights rise in value as interest rates climb, largely because borrowers are not refinancing, so fewer loan are paying off. The reliable income stream offsets lower origination income. With the expectation that 30-year fixed mortgage rates will rise to 5% from around 4.5% currently, the value of servicing rights has surged in a short span of time.

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